Oncolytics Biotech (ONCY) 5 Nov 212021 Q3 Earnings call transcript

Good morning and welcome to Oncolytics Biotech's Third Quarter 2021 Conference Call. All participants are now in a listen-only mode. There will be a question-and-answer session at the end of the call. Please be advised that this call is being recorded at the company's request. And I would like to turn the call over to Jon Patton, Director of Investor Relations and Communications. ahead. go Please

today's and website a operator call we updates Q&A. everyone. today, completion. section from replay Earlier the the remarks available Thank & After two Events release good open hours providing will for issued Presentations of A XXXX. press quarter the corporate management, will financial Oncolytics the be third on Oncolytics you, of of morning, call approximately results company for it's and after

risks expectations made of anticipated and plans belief the registrational regarding related this and to business. study, developments pelareorep plans prospects and potential and statements that the to beliefs regarding call good are company's forward-looking remarks expectations company's pelareorep, future anticipated faith forward-looking these of results, performance results, Many potential management's as statements or various expectation assurance to materially the relating be actual to basis company's the statements. potential can the clinical an current performance property associated by not the business These market which results control agencies current the development expectation achieved. action pelareorep's company's as These the believed a does filings pending focus, include based projections, objectives, current other and unknown or factors company and Oncolytics factors certain expansion actions SEDAR statements reminder, delays, reasonable that clinical as in and company's statements pending the as be and or a in forward-looking expressed therapeutic, or by any protection, statement in statements As strategy expresses financial different during of will the detailed implied company's cancer regarding including a trials, trials, laws. of commercialization contain and mode regulatory Oncolytics are other aims there may involve with the or statements those no achievements on with a company's benefits and number or development a factors or obligation but in the are the belief are and intellectual SEC. results, and applicable of be and the expectations of subject which by and such undertake and uncertainties other required cause company's risks, expectations under known from current company's belief the to forward-looking of to have update except to factors design, these to the of beliefs not business

of turn to over the Matt Biotech. Chief Matt? and Coffey, Oncolytics Now, call Executive President I'll Dr. Officer

update. Thanks, third discuss corporate Jon and thanks who to quarter today are our us to joining all

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hand development our Now, off a to Andrew? I'll efforts, as it business speak partnership about more as well Andrew. strategy bit this broader to

Thanks, to who all on us call. today's have thanks Tom joined and

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them continue Roche, discuss ensure of focus it quarter. to I our Pfizer, CFO, focus, poised I'll on the the with our collaborative that we lead our and Merck we While very interested cancer Kirk that, with for goals. over and our these stated Adlai date results objectives. distinguished our efforts to primary breast we Kirk? emphasize believe financial on generate, pleased turn should the to clinical To and collaborators in again this plan relationships Serono, is we expect BMS, as Nortye With leveraging to we once maintain has and as program execution remains Incyte call sustained the success. Look, our remain for to our data the strategies to third work execute results produced the such We're

position morning, registrational corporate good breast clinical and remain pleasure Andrew in execute Oncolytics financial objectives. and study strong my and It's everyone. lead continues cancer Thanks, to as additional we a a our on that program advance report towards

Our Based middle cash was extend XX, of projections, XXXX, $XX.X current of cash the will September financial runway into on our of and compared equivalents to $XX.X our as we expect XXXX. million XXXX. as million XX, December

quarter last XXXX were our Investor compensation $X.X to third of $X.X the due million $X.X for higher million for Relations to compared million share-based $X.X same XXXX third third were expenses development expenses largely change Research year. for operating quarter compared non-cash Now, to a is This in of the quarter the activities. of XXXX. million the and period and

per for XXXX $X.X for which to loss period a a to share Matt? $X.XX million the consolidated hand third for equated was per program Matt. of increased $X.X gain in million million due third third $X.X of million that, we XXXX in change was of FX biospecific therapy quarter and collaboration expanded of The for basis. expenses this compared was T loss a compensation-related expenses third I'll quarter XXXX quarter $X.X included of quarter loss of net $X.XX of the Now, largely the third the antibody. of our including completed as in to net activities, offset clinical the research and the to compared net to share loss and run XXXX. production of a by R&D for lower With an This higher cGMP partially back XXXX support the on period XXXX. a manufacturing-related This of XXXX it quarter CAR

Kirk. you, Thank

their with months. delta summer, of they how the continued adapt the our variant dedication like this to impressed Now, seamlessly past I'd before the were the able we talent, positive I demonstrate robust data units. By to backbone by broad forward. preclinical the moving surge additional Thanks combine nimbleness we're towards we keep past of array the pelareorep of immuno-oncology move as and few effects, effect. and been heading Since efficiently the checkpoint a immunotherapic and and that therapy on programs evolve XXXX with we have to development will to can believe Q&A, vast to synergistically these momentum clinical pelareorep's team efforts, the a with and leveraging inhibitors Oncolytics pandemic reiterate over sets develop that

cancer towards we will partners engaging this our As work while lead breast our we focused program, goal, on in primarily efforts other selectively remain and collaborators to announce areas.

this We regular expect These risk and of our maintain this safety benefit to an us to XXXX trial in first late with and later or myeloma optimal our XXXX. evaluating expected completion the in of year well multiple inhibitor balance include BRACELET-X allow of in IRENE catalysts. in interim which pela as cadence updates as enrollment combination achieve carfilzomib from the is reporting from quarter

year. I ahead, of end the towards about head remain prospects our excited the we as Looking

and programs towards down lead registrational is path in advancing other parallel. preclinical clear Our clinical a study, program advance a several while

some We consistently are and lives questions. goal take executed of to to now improving value shareholders the we have work of ever-evolving a circumstances cancer has strong of pandemic I'd under the generate With towards patients. and Operator? as lines well we positioned that, our for ultimate team the our open the like that

Instructions] John Newman ahead. at question your [Operator will Canaccord. first Please be And from go

progress all the on had I Hi just questions. two thanks Congrats guys, morning. this here. taking my for

us color analysis AWARE-X could any you your you duration wondered clinical that give you potential the second biomarker the data discussed some could of the GOBLET-X, the first of here could remind you one future. today timing from ongoing might and of how incorporate other if us describe you just dosing The studies? And on into in question on is,

fish, you just diversity just colored So, if an contextualize could you today, When full our it yellow T-cell represented, Like the really, red data you. talk like, it's fish, and of so blue you repertoire, to aquarium it. they're of it's fish, a what have imagine about have kind of into diverse. we look of black multi if it's fish, wow, fish, white fish, spectrum pretty green fish, equally

red a red data those telling really all the Now, clones. in anti-tumor increase our what by us. diversity the the the illusion, get that flows those red clonality population of it is amp to clones fish sudden, up that's drop -- of these We a like on these of fold, this are fish fish carry XXX a and massive just

So, we and this allows in the three increase clones, mill in What is with this very and this blood clonality do demonstrated cancer. diversity at a these up drop a early to draw we T-cell diversity if drops. three do can two shoots weeks with the us as and is to as simple correlates this in very see with survival it new positively correlating We've CelTIL. pancreatic strongly positive overall draw

So what that allows patients. us to do these is stratify

that BRACELET study this but patients a verified benefit. enrich becomes follow-up the really, will really are with of GOBLET pancreatic after deriving now well. as this the seen or in is to focus we've and And on this cancer basically, way it very and So, easy breast be the

also the smaller is because clinical run that can this we immunological nimble allows much to it us reproducibility phase And the settings. in that studies the clinical follow having seeing effect. more We're in are across much do what's nice We're about patients of animal seeing indications desired this the it. it what in testing. So to is testing are the

a commercial this excited is very So, you changes immunological also and changes it very a we're effect patients, opportunity. these From ours, strong with it. the because this see in often perspective, very indications like dramatic patients are to in response dealing be see in overall for preclinical, agents clinical that takes across so window is appears nice of dramatic about of survival. indicative PFS, -- don't a you But finite

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of duration a Dr. Tom, you question, second the for bit your speak under bus. GOBLET Heineman going to push to can treatments, for Now, I'm little Dr.

Newman?

with mind types of treating a cancers. platform So, in which patients in that study is study GOBLET we different keep GI are yes, four so the

treatment the treating bit are depending type the little on of regimens cancer. regimens -- a different so the And

care cancer atezolizumab. -- will line patients In standard receiving with a also third colorectal treated cohorts, for will or receiving be with and of be all will pela example, be either the patients, couple of chemotherapy. patients cancer So, pancreatic with pelareorep

vary a regimens and be then receiving appropriate investigators on continue deriving will pelareorep believe its little according will normal long chemotherapy be as treatment weekly treatment. bit. to schedule to the are and administration the atezolizumab benefit so study the is as they the from they and And Patients treated

Okay, you. great. Thank

Sure.

Mr. Any further questions,

Newman?

No, that's you. all. Thank

Thank you.

H.C. Trucchio next from at Your will Please Patrick. be Wainwright. question Patrick ahead, go

moving forward a CAR would with there collaboration? combination the on CAR of of question plus preference a CAR you a or discussions and morning T-cells good this follow-up pela I'm And ideal potential Hi, wondering if And be or types secondly, congrats the any allogeneic around CAR for the do I believe what's of autologous T? for tumor on potential T-cells? is finally, for plus what our have type all T. combination status progress. pela

is, We're autologous think allogeneic the the and T. the to be for for are reason XX But CRISPR years, dominant exploring both fantastic. CAR this going that X CAR to I Ts in recent actually field. And autologous data with looks I allogenic next think,

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market. tumor we're at In terms solid the of targets, looking really

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work University So, that for HERX+. really, we the with really was is focus good now very biospecifics targeting fact to pointed looking the a us. Leiden area HERX did at The that with

HERX+ CAR beyond with will I T, the into Ts. I So, likely biospecific think move the think only not you us CAR approach see

virus In CAR We're area an out But the it's terms parties multiple form about. population. we're and short very BRACELET-X again, Because, space. additional have It T get is collaborations AWARE the information manuscript teaching recruiting them us with very good tumors. the are immune the active a of excited It what term. a looking in at good is of expanding to T-cell solid is here in our discussions, very good at we very to very is in adjuvant.

and which to because horizon CAR we're -- want looking it there at X we us very on and it probably HLA, that's that will to want see the everyone we've interest think you CAR IP. cell think, gold the a in space. T T our becomes but at the the standardized have to mean, everyone think of want strong fix just I with want presence staked foot eclipse after a now. doing we're just shelf your gastric the assay. cancer, to, the out collaborations basically think areas and I for immune-based question, right yet. our the We've I suggesting We sure land of if autologous in ultimately, the allograft rush the a becomes an door. We non-small But Back because breast area. applicable do in capture be I it's now but are, attractive emphasis other for have don't XX-year off the a get in strong to to get looking can So, KOLs lung terms I I We some area. you make cancer autologous they're replaced think are can for autologous to They're we talked that you

So, with very space. we said, this collaborating are numerous point And as in academic partners and at we're this multiple I groups. active

helpful. you much. That's Thank very

you. Thank

Thank sir. at over turn you. time, go to call would like back Please I this Dr. ahead, Coffey. to And the

the The move our into about an Nortye their just hit like we're have next a thank demonstrate on the our Adlai I growing will I them We're for through of AWARE-X. what immunological think, in excited which now readout study. We're the BRACELET-X oncology cell to with the pleased end our killing markets. It with clinic. terms they've We're final of year, us that wanted you time ground excited GOBLET give seeing that data expectations very and biomarker, fastest to very everyone in believe. We're ability approaching AWARE-X it running, the the results and about is exceeded attention. the wouldn't of data, taken one very partnership mechanism.

next it the as with keeping progress So, about everyone we're up-to-date and we're abruptly] very looking to excited months XX forward the becomes available. ends [Call