Acceleron Pharma (XLRN) 26 Feb 212020 Q4 Earnings call transcript

Good afternoon, ladies and gentlemen, and welcome to the Acceleron Fourth Quarter and Full Year 2020 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will be given at that time.

As a reminder, this conference call is being recorded. I would now like to hand the call over to Ms. of at Director Associate Bernard, Investor Acceleron. Relations Jamie go ahead. Please

in everyone, Thanks, release quarter results, Investors presentation and to corporate on and of at are welcome, today's reporting to webcast for full-year financial media press fourth the The www.acceleronpharma.com. our and available the call. XXXX our our page addition website earnings

our and Chief Joining Executive Officer; Chief Sujay me Dable, Financial Dr. Chief and Habib Officer; our Commercial on Research Relations. of the Senior Todd are call Affairs Head Jay our Kango, James, Backstrom, McLaughlin, and Investor Development; Vice this our of Corporate afternoon Officer; Kevin President our

and description will addition those like statements to are with in our research XX-K most from reform As we be forecasted. a uncertainties differ in Forward-Looking subject to CEO. Habib financial that, to materially risks Statements reminder, would these may to With development A regarding results found and cause product actual be outlook call risks over plans our activities. our turn the SEC. regulatory, I file that These making can on commercialization Dable, of the to now and

hypertension today. team and those support entire year workers to progress Jamie, to I others despite the by adjustments quickly productive pandemic, many successes a to incredibly not Like committed face to tirelessly environment a long-term support we team's afternoon, necessary you, the on contributions early Acceleron, peers pulmonary pivoted help continue highlight year, good sotatercept pulmonary first in well if here of of begin We our sense To in for our the we hematology announcement year vision our challenges program. in joining a line to our operational did resourcefulness with multiple of hematology I communities. to affected a XXXX, and crucial you reached pulmonary their with arterial Phase be patients. pulmonary past at franchises. to the March. ahead would grateful work we protect Acceleron proof-of-concept were for the acknowledge programs. and In remiss and we could industry-leading I results I was care who PAH. and to Acceleron build and II everyone, to urgency many work for positioned and of achieve. be for accomplishments, LED not patients I'm or continue our positive established and our the and for health many all operate us Acceleron. Reflecting able briefly trial of the and directly our PULSAR Thank proud We as from significant multiple more top XXXX great thank remain mission remote for our be will resilience made the with milestones across

designations respectively. Following we the and the therapy EMA, by received and FDA prime for results, sotatercept breakthrough

Thoracic the the will initiate Society more Right call. registrational during We at the Heart on today's Phase a major trial including congresses. American and PULSAR the meetings, of detailed number of also before III we trial medical presented STELLAR, American detail the in from which Annual to able year, Association I called were a findings end touch

sclerosis. contributor patients rare affects disease, SSc-ILD. lung Europe designation Acceleron with In to to asset, in initially in FDA is or discovered We patients orphan are recently and the systemic more sclerosis. addition for than the we to and an develop This from systemic interstitial systemic sclerosis pulmonary the treatment drug United associated which main sotatercept, received plan ACE-XXXX of in XX,XXX disorder advancing States the mortality ACE-XXXX,

evaluate to planning for of II trial SSC study We ACE-XXXX patients ILD XXXX. process and in currently in the to of are in expect Phase Phase start the the activity a with Ib

we success, our Including in most team and challenges will our face joint and blood in the the approval detail Reblozyl, as the and Bristol-Myers was program continued in to highlight known for early in into availability in Despite in and more alongside recently able MDS partner, pulmonary agent our shortly. anemia first regulatory States. States, of Reblozyl program, hematology the market Diving program. Canada, treatment erythroid to external pandemic, Squibb, Europe our multiple little achieved commercial milestones disorders. during of expansion. the United certain global full-year approved drive maturation of the luspatercept, the also United Moving in sales first a deeper is I only commercial

The exercise the resulted Phase II encouraging results, and at the are results which trial SPECTRA determinant XX-week hemodynamic failure XX. abstract. measures PULSAR had showed capacity AH showed PULSAR Pulsar June, these from Association patient in was survival. Heart trial Phase line we top a the of as well from a substantial ventricular the improved November. results scientific multiple at presentation American echocardiogram in right ATS week as highlighted and key share The trial in best trial is hallmark at the from tolerance that as updates along SPECTRA a The cardiopulmonary ventricular II very right our open-label sessions with function, in ongoing sotatercept recognized with presentation treatment data of opportunity presentation as improvements to by sotatercept smaller PAH the the Following

remodeling. consistent pulmonary with that our Importantly, to and sotatercept's belief support are unique further has action the mechanism of reverse results potential PULSAR vascular the

to comparing compared baseline. weeks of in patients versus primary clinical development to our diagnosed Phase And STELLAR is a Phase now Functional study end endpoint or III initiated a reminder, as double-blind, the approximately II the we randomized, our is Class III. X-minute year, III safety XXX at PAH the efficacy plan placebo-controlled registrational of At sotatercept placebo sotatercept. the with and for distance with STELLAR. trial III in The walk Turning change and vision Phase XX

also in functional who III We III additional to mechanism for two Phase class early Results backbone a will setting explore sotatercept's IV to understanding conduct therapy PAH. PAH. sotatercept with Phase preparing the be are in to unique patients support patients and studies trials, HYPERION from and our its with stages add our stage intervention potential to of ZENITH all of

and hematology. of successful our first year sales in Moving was for approximately to respectively. fourth million reported XXXX the BMS, quarter, a for $XXX and net partner, $XXX million Reblozyl full-year Reblozyl,

pent-up still While on Specific patient patients quarter described large to call, in standard a who demand population, portion collaboration are approval where our global over in burden. in of MDS of along of responses demand have or MDS the Reblozyl, launch with earnings were at with sales at new BMS had are who transfusion the earlier to were there been achieved. early a our a our inadequate pleased commercial we by their the team, experiencing it we third penetration the in market not of is decade, early high sales And suffering drug care, shift patients a from driven journey. start from to partners

of to expect treated first patients commercial the longer-term this teams ongoing to continuing into along patient to the prescribing the and population short-term XXXX the with journey, drive accounts optimal in earlier are add growth The focused in treatment duration significant to in Reblozyl moderation increased Physicians' or continue benefit contribute which growth of patients and of achieving underlying with to remains as type positive to demand of of we in flattening further observe quarter. of are on MDS Reblozyl, dose brand we potential sales in with beyond. shift the maximize U.S. their this in penetration of We feedback awareness

Reblozyl are course In the markets and of the launch additional in BMS second very XXXX the we Austria anticipate Reblozyl Germany, stages receive in addition, of and half of still U.S. globally launches the as reimbursement. over the various launched they In of in early we and outside of XXXX,

We promotional monitor in COVID-XX that any all also activities effects continue on regions. to or for sales have potential

first partner nontransfusion-dependent in applications, on presentation about treatment in process patient investigate of if XXXX to associated with your underway long-term brand, from half with the of hand COMMANDS There BEYOND MBS for And vision the in struggling our the Kevin. we on review call of the additional and All with will initiating with and development the potential the we these who of think Reblozyl billion. in, and XXXX of to Reblozyl current populations, the sales the luspatercept blood trial then we continues trials the trial in trajectory this And that, three currently successful look and to to later. with we I As first-line effect like to MDS in advance or financials, of for beta-thalassemia are forward a patients continue JAK-X our disorders. BMS in is $X cell questions. anemia beta-thalassemia Kevin are transfusion. future more estimate and red inhibitor results CFO, annual patients than peak available on myelofibrosis. would myelofibrosis be over of to BMS to take independence the we blood McLaughlin, the the lower-risk further trial require

to cash cash, of and afternoon, and full-year sales would briefly revenue $X.X fourth million. with ended company's quarter of Reblozyl of from revenue, Revenue of includes approval year take financial from opportunity a royalty $XX the results expenses a costs All items. equivalents Total to for of royalty which Bristol-Myers quarter million. of Good the full-year million full-year I of today for share the fourth from derived cost and was for was $XXX.X $XX a cost in loss few and million press company's was the fourth for to the investments. recognition million the Revenue were of December million, million XXXX of like revenue year with ended sales $XXX regulatory XXXX Habib. We revenue issued summary quarter net Squibb. refer earlier $XX.X the XX, of the everyone. $XXX.X net which partnership includes and million, for $XX.X Reblozyl. share from Europe. our in our million Thanks, this net approximately The the Reblozyl release review milestone million $XX.X for was and $XX.X XXXX, revenue and

of our questions, to like would and the to to would proud moment Operator. up questions. team's take execute With ability I throughout how call turn I am like Habib's I to the that, echo to sentiments open a to XXXX. say we Before

Instructions] [Operator from Yaron comes Werber first from question Cowen. Your

and great a environment. congrats this question. Hi and team in for Really good taking launch thanks the to see

then just questions partially there sales of the donor to in is is to on QX Reblozyl, QX. And expecting are then cadence specific in the second due shift? or journey Habib, first have touch flattening that - second, say, is you is the a a So what QX? That what drives maybe question. Thank of from in And sorry, board Or coming maybe mentioned that in I first. let's the new couple kind countries you ongoing I'm of to Europe? Is this reacceleration anything year U.S.? the half on you. of,

question your Yaron. for you Thank

moderation to continuing of to terms call, in respect had the the growth said this expect described patients And a it we of being this even demand is type much contribute we is what to even or that to time, short-term their are shift to a that shift start we with quarter MDS in earnings And Reblozyl. really quarter. that shift patient than ongoing first in So potential on in commentary we observe in flattening, flattening perhaps moderation with where of in at different Yaron, sales this treated not of third or the earlier journey.

focused is pent-up making once earlier specific which the the think this managing of when cycle in investments life burn the together, dose increased Reblozyl, on details. commercialization really and to as we U.S. and future potential persistency, also high demand. i.e., the if focusing Obviously, for sales recently achieving with cadence, BMS programs. for Reblozyl early peak the are in the that of all, all this further awareness demand guidance these are in meantime, we we cycle and you haven't for given with high success drive terms in the the we duration of $X how to those their Reblozyl, in significant journey indications of result respect experiencing are in continued is in responsible with long-term penetration, that had doctors optimal the potentially terms and further commercial and in to Acceleron of that on that, are capturing indeed potential through With and maximize MDS be teams Now patients underlying through treatment then of and the just are billion, BMS the getting that we to feedback growth And And of about believe patients the life we benefit increased BMS population, continue life going management. have cycle growth successful days the management, confidence outside early a over is

already have what already approval the to can in about significant Germany, those you a But and contributed expect the We talked which XXXX. Austria half second in has in getting is countries that are in of XXXX. reimbursement sales uptick in probably

half The this study, late initially year, dependent. it and data expecting nontransfusion BEYOND last is question. like are final then a in early sort we just and of it looks first And year

shift, driving what Just give a sense seems us slight there be a that? was that to

Yes.

it half be is this to year. I that think going of we last said first So the year,

changed guidance. haven't We the

you We the that the to half estimate probably see and would that first in be for are that expect keeping suitable of the you data respect can that. XXXX, to most can -- congresses

And sticking so we to that Yaron. are

Great. Thank you.

Yes. questions. Thanks your for

question next ahead. comes from Carter Barclays. from Gould Please Your go

we taking as quick Thanks is duration Maybe And now for question. of sense guess, Habib, of a approaching year up persistence that sort good a since the how of on I coming the launch. kind out? sort just are follow-up. afternoon Great, MDS guys. initial playing then maybe and just first,

to bolus play same we that a in why of country-by-country saw launches, U.S. about those sort some on OUS the As of we out wouldn't expect we think basis? the effect

Yes. we launched flattening and Thanks, the that a U.S. talk when about potential specifically as the insightful sales And commentary have of we such Really questions, one. that is Carter. moderation regarding the second the or already markets in

so is to, are we And country right, you the pattern are specific. referring that

to to that look is markets you country different so believe have pattern. if country, were reason a by different absolutely would there And at no

you very With it in trial, decade So as that which two the or the your pent-up there to most little very, years is few saw is very ASH high. and been is where ago, a And this persistency, respect last would expected which the very, clinical a innovation question much on behind underlying seeing from clinical we benefit, was demand so the trajectory, probably over comment. approaching market is factor very very years. was what remember, at a and fair commentary is where patients the actually a presented

blood So you of rates what that of were those weeks is less and happening greater. that -- eight who versus is or top patients six a on in that, response burden transfusion red saw much units had cell every better

that you what six. are And the that to when actually higher when so in early average seen have amount of was -- the in the are that a expect happens get would clinical burden, patients transfusion have disproportionate the launch would you than lower trial a what be persistency you

pent-up journey, this to expect the into we And also are that dosing we increase treater transition well earlier efficacy which on patient direct as patients the see appropriate and the continue schedule, in a of as And persistency to as to is result continue their educate so demand. group persistency. continue and will enhance to that we

Thank you.

comes Sandler. Please from Your next Piper from go question Chris Raymond ahead.

in guys the X XXXX how the are Gabreski for great. of frame here are U.S. And Maybe as is it color there have the XX,XXX think and SSc-ILD. like are opportunity, subsets XXXX, better respond just that I about patients you does guess, EU. late market Ib/II? for on or Phase Nicole This on there that know we how the might certain ILD status? be you design early pipeline Chris. and noted that about auto Any thinking the versus would to And I onset be these about of patients antibody therapy

Thanks Yes. Nicole. your question, for

Jay. what one think is Development. to I I will Research Head will I our that and pass of Backstrom, do on Jay

Jay. is This

us for opportunity to skin really, cetera, quickly, have of keen have Ib/II, to study, the the well as go as opening involve ideas around there evidence of involvement what to we and some that have we about most very trial, So that both pulmonary are target to as then And to we into in dose And for conclusion of to trying patients and are it. looking come would that more the context patients allow Phase we et are as learn patients would move But will the engagement, look lot within we II. -- is we and a potential disease good do. that that our objectives like. achieve, of

Day, do much would a our to we the R&D join As us scheduled that strategy get mentioned into around previously, thinking dive take Habib to and plan will you an both protocol when I we invite we selections. had biomarker do and deeper because

you. Thank Great.

Porges next from Your question comes Geoffrey from SVB Leerink.

Geoff. This for [indiscernible] is for

questions So two me. from

between The information will you first And to that the what And would to is large trial be about and and is Reblozyl? confident commercial ESA superior for what enrollment required ESA how into the given Reblozyl an MDS the Reblozyl? X follow-up be with in PSA difference that of statistical the is, latest margin the are population? price frontline success, benefit the

you, just you or you we the data the and in XXXX of see said that any at partners can XXX% not And specifics is to our expect What we So is results sometime do the tell later. trial operationalized of enrollment by line terms what have DMS. remind that COMMANDS I taste in to give although is enrollment. can top

III is as what forward Jay I move talk like. some light into Phase And little thing. seen own Phase has the least a a the are with confidence forward that we so on COMMAND have bit II pass in from with what little the us our of results terms COMMAND looks about in benefit at as study well perhaps patients. seen we respect like registrational another like So based our with will ESA multifactorial that terms is to II in to With have the cans that on of confident over to study, move to Phase really we informed margin and make shed first what why company-sponsored saw the what into we to that Backstrom of of bit that data

Yes.

up are at So I it just require transfusions level that transfusions that patients well. have requiring the still that is the some that that you remind for summed we think, Habib, data in. From to it get patients

at it are We an those level that in doesn't And group have confidence EPO in. frankly, have is study well that an XXX. looking do a superiority potentially great really above we That ESA.

getting So forward is of BMS that the team to putting it. really lot effort mentioned, as behind looking Habib trial a completed,

think, So we should I that proposed, have lines on I will the what the think stay today, I we see time continue to go track, from as see we through and year.

the Yes. other show cannot make indeed we cross-study Phase looked looking we our have own in to end the that that. we were to we designed and our successful, is study demonstrate II have a sets. at and own day, comparisons. is company-sponsored If that Obviously, And at And benefit. of data we able data all design have that at why we are superiority with

Thank you.

ahead. Eric Please from Your comes JPMorgan. next go question Joseph from

demand far of, population for so RS are patient any you up picking elaborate pursuing? are MDS guess thinking And opportunities additional has -- I about sort cycle on questions. seeing or be whether thinking in fibrosis just pushback? a comment that it some just you emerged of that any how patients, Good the within life management that and efficacy Thanks. that Can BMS just about? that you the comments thanks to seeing taking are just in about. there related on you guess, patient indications your Can Reblozyl. trend and afternoon. horizontal negative that guys, are or payor I kind in indications sorry, I then you are in on you uptake guess and Is going other vertical or at you Hi my

are I life are on really, is cycle thinking respect your negative partners. II and let our regarding But our Jay patients, management So with answer what the to questions insights with terms will Phase of question from our study. how we there ongoing about in own things RS

no label In in RS to use reason terms any the market, is positive substantial Obviously, believe is of in there the that negative the population. we population. the RS specific have to

driven And data. so hand to from any over clinical Jay elaborate. But I insights really we own it will to are have our

Yes.

investigation MBS out for life you plan, can't additional seeing the of So space, already, the combination in MBS anticipate as to and within been you within know with the there clinicaltrials.gov strategies respect is cycle discussion kind space.

think clearly So of interest an continue more will patients. RS the I obviously in There you negative see to that. is

had As of in included nice II in we that mentioned, activity is data Phase course, commands. our Habib

So we can anticipate that. to see

combination think to the therapy. of patients. beta-thalassemia probably therapy be And way I be turned will a then advancing us, to So has out important it go for lines to earlier really the really because in addition build in around

And so it. anticipate can if about around think you thalassemia alpha thalassemia, potentially you

continued So the on there in these there is come product, will a expansion more of areas. interest to so lot that. But and around be

taking for Thanks the great. Okay questions.

Thanks Eric.

Wainright. comes question Ed from H.C. next White our from next Your

study? said you And begin, any this or of it? size update of study the get issue the just there going perhaps perhaps narrow is other Phase to are to with you Ib the due Day. Is R&D on if more issues that there you when know can of going Phase to us bit give the I said to II to with ACE-XXXX. possible an that information is -- study it an an little have just give So the a XXXX? idea starting But the just you on study pandemic start

Jay?

process are all we of now, so starting Well, the that right. Yes. study in

year, an doing the past this have we had So over the on interest in working protocol.

And our the get to independent a just that of of set Now regulatory the through pandemic of a site it from regulatory hurdles. lot matter to all investigators. takes site document interest up, getting a is time selection,

specific, how just respect are From it it a now. So put start will Xb cohort that the identify Phase II driven, those Xb/II design, of a we we at in -- will and can expansion, trial effect then process be really given a and treatment depends we didn't on. really date, a dose really that the opening that function a recognize on in the size cohorts, have quickly to that we see but the and really we is -- is early we with of

So I really strategy. don't PK/PD around very on want to get rich too interested far like a to ahead with dose much quickly and because it strategy is getting our

that So in up more we the that recognize But get the Day. are you about tell setting we we will in-house. when process of into just R&D study

Great. annual potential. there? indications wondering you give billion-plus Habib, thoughts question on I'm four sales have the listed on regarding far your a peak you that are X slide what can as And different your you in for the just us as Okay. that the if assumptions

COMMAND indications are BELIEVE label, okay. of have we up approved the if to contribute has of believe opportunity, study. to and is all we that, MDS that and at billion-plus said that opportunity the MEDALIST four and that the what if the So previously all look BEYOND the And about half you successful on look getting study, end if i.e., they if within you study, the study, thalassemia, at data

to on will chance exploring Reblozyl that a and our at opportunity continued management it believe successful for be plus. able $X the has we the programs all that, at the make above BMS, with indications billion you success Beyond be and partners that predicated these is if again, are And of cycle that life launch. myelofibrosis, potential we other to looking

Habib. Thanks Great.

you Thank Ed.

from question comes (Ph) Raymond next [Alex go Your from Please ahead. James. Mana]

Alex for Brill. is Danielle on this Hi

if So how PULSAR, is just we see expecting expression come out And of expect? expect long-term new in and asking few would update should and to a II we the follow-up when months. what -- this data meaningful What from learnings may updated the about And we data? follow-up results? BMPRX next specific will Phase so, these we are

Yes, your question thanks Alex. for

Backstrom. So I over Jay will that hand to

it From Yes. data. the was results, PULSAR week initial XX

to tell get over open-label, So were have those of eligible can we you, opportunity which patients patients have an with still have label, that into open we trial. follow that that of What to still up we is shared I to previously continue over those XX% time. on

as we for are distance improvement, follow et efficacy, for continue so and continuing six-minute as for And cetera. to walk functional to well follow both safety class

So you improve on will which extension the to perhaps see some only of some continue to additional evaluation potential the and an insight see into us will to of but that, effect, not give patients persistence treatment.

nice be open-label should update So it a the very from extension.

patients as you far idiopathic or the goes not only and And sotatercept sometimes having expression, then, activin BMPR not. a the the here. but regardless the respond familion expect expression basically the by and biomarker MPR is in at Alex, that data Todd form X binds section whether the of We shows then to a you the other looked that mutation of by of like find hosted it conference sotatercept presentation disease, small as some and to mechanism publications X A, that into actually driven had that yesterday website PVRI can in form the

Thanks. Great.

question from (Ph) comes Your [Alexandra next Oppenheimer. Heller] from

Leland. can XXXX of This start for is provide Alex on the on for color throughout the OpEx multiple as year? trials Kevin, you additional expectations

Sure.

expected are begin in trials to our increase to spending will is give So specifically as as year area, That specific for forward our we sotatercept, the of number increase seeing, XXXX. we related the hard increased go relative to What the marketing guidance spend. given however, don't sales and area and that But with numbers, well. true as holds no. we into this through we preparing well growth will be

Thank Okay. you.

ahead. from Your Yigal next Nochomovitz question from Please go comes Citigroup.

team I Hi taking had you and thank the two. Habib for question.

specifically, going in independence, in the to expectations could would are to you in you COVID. more favorable And first data? which is a just trial, And that on positive started, enrollment in also get consider what Phase one, for trial I would II then maintain The look you just what And regarding from just into population? comment steps your sense like of headwinds BEYOND II getting love would readout? recognize trends taking light and this briefly Phase separately, COMMANDS

you Yes handle development over those questions will Jay. I to Yigal. thank

Yes.

BEYOND So hemoglobin. its not sweet ability dependent, was And raising know, you Phase as an the presented from we whether on is data, not hemoglobin. see luspatercept were what transfusion would believe, those really and raise looking patients this for to effect our for II previously a to that have I spot, drug in or

randomized So was the way controlled the trial study. was designed, a think, I it

think, this that endpoint, group be significant of no So patients I have option. who will really hitting for

So be see that to data presented. that nice will

will As be that of you talk first half the year. the about,

but I as BMS a because look prior another hard. With is endpoint again, to can would the of all the study, have the you, issue lot and having clinical that. symptoms the that said They respect They that, it. something be required for main with pushing energy of a to are is got operationalized behind They Celgene tell BMS portion it. folks associated would anemia I this on are this. in similar think the commands, a this trial if like again,

pandemic us through have and the year, that an I for investigators most manage and think way have paid running over influence this the Clearly, has what a think of had I we true physicians is seen to found that. studies.

down hopefully, this as potential the getting with this I think of going come see quite into a to kind we vaccines persists honestly, we place, good are for and up.

of all trial. those able put favor those being back patients to conditions on physicians think I

and getting posted independence, hard year, the has of So have that. sense are they to From clintrials.gov. up the my are and enrolling. getting pushing they this, It and on been close respect open trial very study development on they protocol to talked ready. is that last on about With study

behind of well. push So kind as same that program

Thanks Jay. Thank I appreciate you. it.

Thank Yigal.

question from RBC next Your MacKay comes from Kennen Capital Markets.

fibrotic thanks applicability XXXX agent and specifically guys Hey was note Wondering there. anything lung if congrats diseases pulmonary that? question strong exceptionally beyond that taking it tissue XXXX the for a molecule others or on within A here. wrapping and made potent there is development there designed in or or on the whether that question is tissue up that on sclerotic into

your Thanks Ken. Jay, for on question to XXXX. over you

Yes.

because profile So is fibrosis. XXXX the we it effect like on of

us into of are the and skin to portion it And kind obviously to decisions disease they to space, not and whether faster like dose, pulmonary. we into getting in one pulmonary SSc-ILD just may the translate or give of start some number like for understanding dose of be selection. I pretty we as reasons, better are then of to will quickly a which there. the insight So because active moved around biologic in that

areas. really haven't beyond and have do disease fibrotic where we lot to go dose, is we other talked about through that because you, there we where it first it, But as So portion get think some in that tell a as stand. should but understand have I optionality we to we work I

So see. we will

getting We that We got that study are that just getting started. activity expect. open. I'm dose tolerable the looking identifying that first of to finding through to dose has hurdle forward get and But we

Sachs. Goldman from Choi Paul from comes question next Your

you length patient about is at on the how just and primary with when talk Zenith arm? with Paul. how those control -- This study key designs you [indiscernible] differences are And Can consider length to and about compared endpoint for Hyperion STELLAR? and appropriate trial thinking the in about to populations regard you

Yes. will Thanks back to Jay well. give your I as for question.

Yes.

them is a at therapy thing Class on are PULSAR honestly, that look often a take patients patient can not and in so for the So easy There IV. typically you principally cohort, Functional breast group this symptomatic maximal was next the And that, included start I maybe for in might I transplant. of Class quite be at are studies. potentially if with functional one. PULSAR. Zenith is

to prevalent and relatively I sotatercept believe some therapies" their the really events. view as We not how disease be Hyperion across getting need think improvement should goal difference early to and we data. the control about Hyperion, other on very is disease PULSAR not really are they getting much what very the doing are nice. that that outcomes get show not and to you good think that have in about PULSAR a PULSAR. the should of how course population group investigators significant think And mechanism spectrum, I works, things between early on as distinguished or getting patient from over opportunity And if about well. the Hyperion very they worsening group been of their in an that the I high-risk a our we that When disease in clinical "on or the like groups enthusiasm a worsening trying diagnosis, on certain open. beginning them for for for at at around therapy their good would don't of have study get existing are So time. in patient we is and had lot

it. So is earlier thinking of how are trial population, kind about we that

trials You are promise, you the do nice we opportunity the and patients. have what vision running, the fulfill believe, at trying with we got Habib I end of breadth have that the really of heard will, the sotatercept a day, manage can across say we the are to if of to

Will sites in primarily same that SELLER? Alright. and in for And then just a be enrollment these quick are other using you you follow-up. the studies

Well, back we for have us, go as think done like to really to trials. think running about we that centers well I right,

better geared another. for are centers Some probably than trial one for

used before. We are that using the we centers exclusively not have

some group, that our it who course, and need those to them if Of in centers their want program in is PULSAR. include HYPERION, find early participate an we would to being have us patients that able the with likely will put shown diagnosed didn't interest on.

certainly there in size, well. give overlap but scope also the will more you to So sites, R&D those a of will programs lot be day. new when we from PULSAR the we on detail sites our as But get

That Alright, good. helpful. Thank is you.

we time, at And additional no questions. Instructions] this have [Operator

the Habib I have the Dable, Q&A We back end the call now to reached CEO, of remarks. Acceleron's would turn session. closing for

Okay. Thank I you, the to for thank before I want to guess, take joining everyone opportunity And operator. us. conclude, we

of upcoming year. Thanks, you year really obviously regulatory are virtual commercial year the and success XX number In on this at continued well see updates of with us at Research many company have of any for as a as and Development of great a I'm trials that to evening. and our planned and free if can success everyone. ongoing and for we Reblozyl has feel planning been conference some to for Jamie Day well ahead. clinical, out you, or reach year the Todd You the connecting providing the great our positioning and meantime, another and the really questions, with looking to the middle everybody wishing forward

today's conference and Thank for Ladies you this participating. concludes call. gentlemen,

now may You disconnect.