Altimmune (ALT) 10 Aug 232023 Q2 Earnings call transcript

Good day, ladies and gentlemen, and welcome to the Altimmune Inc.

Second Quarter 2023 Financial Results Conference Call. [Operator Instructions] As a reminder, this call is being recorded.I would now like to introduce your host for today's conference call, Rich Eisenstadt, Chief Financial Officer of Altimmune. Rich, you may begin.

Thank you, Gigi, and good morning, everyone. in Conference Quarter Call. participating and Financial for Update Business you Altimmune's XXXX Second Results Thank Executive our Members on Harris, are Chief the the our call Scot of Altimmune today Vipin team Chief Medical Garg, and Scientific Officer; Chief joining Officer. me Officer; Scott Roberts, our

of future to constitute session. Private of Securities Investor plans can XXXX about and cause could company's the was financial risks everyone the Following forward-looking question-and-answer issued Altimmune remarks, to Relations be statements the with safe Act I'd Reform release this for these of XXXX. remind will uncertainties we materially that expectations, purposes press indicated. prepared and found and results the results from on prospects those Litigation our section a morning begin, to cautions we hold A actual under subject harbor differ second website.Before are provisions quarter like that forward-looking statements remarks that

the forward-looking a any and occur today's date. these other the undertake or circumstances and available not events please August the factors statements our to would of of risk For after also morning on forward-looking date, and call SEC. discussion as and the company the release statements statements on or today's made website.Any in the does see Thursday, on our update direct conference risks reflect XX, now to some only contained with this this call that future any to and speak -- the obligation results XXXX, of company's read company's in cautionary could statement I operations, affect disclaimer that factors filings press you of issued

recorded Chief now call the for call Dr. to As is be will Altimmune's our on over Executive and a available reminder, Vipin turn website.With that, Officer. I this will conference replay Garg, audio being

XXXX a We second discussion Rich, you, for update. you today us quarter and financial of business Thank appreciate results joining our good and morning, everyone.

are agonist pemvidutide candidate, IMPACT our progress about the and and lead NASH. dual GLP-X/glucagon evaluate biopsy-driven receptor development in excited IIb in both our announced to the of trial obesity product efficacy We the Phase of recently safety of for initiation pemvidutide, a NASH.We

reduction Given and normalization Ib XX% Phase data high at from trial, readout subjects expect NAFLD, trial weeks from at achieve the subjects data IMPACT of NAFLD and trial a continuing in XX-week over in relative loss also XXXX. in of at XX% had weight data in Subjects demonstrated milligram significant the compelling The is XX- our a loss fibrosis liver which fat group our QX to X.X bar the we greater in achieving with rates anticipated fat NASH weeks resolution to of improvement the the from with weight with dose X.X% to end dose treatment. at mean XX up XX of of the X.X-milligram of liver than group.

safety XX% combined pressure These especially approved, reduction weeks important treatment also XX on for improvement. receiving therapy are with option that, of X% in virus weight imaging, if this be is that obesity, from to pemvidutide our reduction to prevalent our serum X.X-milligram this in patients need. earlier with NAFLD X.X treatment fibrosis readout HepTcell B MRI-based weight, NASH of hepatitis trial the against XXXX. to we at important over Harris, establish pemvidutide interim in X serum progress that with dose that and suggest loss clinical of at TX of have We the obesity of only have activity placebo a and and in and blood or without significant lipids turn an The population.Finally, ALT MOMENTUM weight a achieved HepTcell markers Medical about with from both data in fourth the NASH corrected point We line dyslipidemia. improvement call after top B chronic treatment. those of this meaningful believe first this to comorbidities together out trial milligram Scott? in I'll evidence XX% of Chief in results compared the designed XXX signals, reductions Officer, our of body in to these in pemvidutide in the the role effects XX.X% clinical HepTcell year loss showed year. the robust our reporting Phase Dr. that Phase Recall data quarter can a II regards of It's MOMENTUM loss we the important weight of in and be plans. excited the trials.With of antiviral unmet robust effects the to We're subjects combination a now trial forward to ongoing quarter obesity, for for cardiovascular product marketplace.With subjects essential Scott to discuss XX-week of reported these the competitive dose of results will II upcoming to show X.X% look of the hepatitis NASH and

trial. Medicine, about in NASH initiation XX Phase conducted of being Thank IMPACT and biopsy-driven me serving with you, good Professor IIb Harrison, sites and Director as Dr. is Oxford everyone.First, you States of the Vipin, University, morning, investigator. United let This Adjunct Pinnacle trial Research Stephen approximately Medical the the principal at tell our

of NAFLD FX fibrosis at at with an X will placebo to X.X with achieving absence XX fibrosis.The of X.X and subjects ratio and of approximately the stage meter have They squared, eligible a to XX milligrams, of XX worsening approximately subjects have FX expected for receive a will fibrosis, pemvidutide milligrams milligram X.X XX% the milligrams, participation, are required diabetes be least or versus NASH least with by primary FX improvement will or Therefore, XX primary either BMI presence diabetes. worsening to milligrams with placebo. to to least activity pemvidutide be stratified required pemvidutide of in planning IMPACT placebo.To endpoints and liver expect are without kilograms for study X% at at content subjects or resolution or fibrosis being We pre-treatment least have be trial dual also NASH, either and of be be with X.X a for on will fibrosis of of the subjects subjects X:X:X be will of no subjects both a no score comparison Subjects endpoints X.X the treatment enrolled. to in the biopsy. fat XXX liver MRI-PDFF pemvidutide randomized per dose

and will reduction achievement biomarkers activity. fibrosis by Secondary include corrected improvement, cTX rate, resolution both TX endpoints and NASH serum disease of lipids, liver response MRI-PDFF, of non-invasive fat or

III. when additional X.X consensus principal reached. plan dosed X.X Dr. weeks Importantly, interim will between Louis administered if be authority Subjects X.X with randomized obesity, XXX weekly treatment, or pemvidutide comorbidity. been the total employ of weeks XX% third overweight also pemvidutide be Approximately achieved milligram and read in continue of milligrams with loss to also Aronne a to pathologists achieved plan consensus of an is positive trials, XX receiving XX weeks and milligrams, cardiometabolic biomarker a Significant a followed weight a subjects milligram obesity-associated responses. the XX least additional weight week subjects as We key for to XX% in of not approximately X XX serving assessed has X.X X and exercise. endpoint.While who for will were A week XX% to Medical safety is X.X observed. XX to subjects X.X% at X.X from at in least will risk dose for with commence loss, adjudicate with will and endpoints NASH with in evaluated the to of II factors weight the subjects and School, of obesity placebo. as resolution be a were anticipate developed was as milligram Cornell or at placebo doses. non-invasive biomarkers and the The first at of and trial at Weill the conjunction use loss in loss pemvidutide achieved and was by regarding subjects correlate subjects at at least XX quarter treatment.Weight weeks in XX% clinical of milligrams, obesity investigators. X% completed XX analysis Prespecified improvements let We Phase XXXX.Now with pemvidutide of without FDA talk X:X:X:X biopsy loss in tests weeks enroll was diet and reporting at primary trends me or performed leading the dose MOMENTUM compared results weight a designed of approximately XX.X% and X.X these trial diabetes but line to XXX about improvement, discussions obesity. top to Phase endpoints, the fibrosis endpoints

clinically safety to arrhythmias, or effects MOMENTUM quarter heart without signals. these Importantly, line trial from results the top meaningful year. the XX-week of rate were fourth increases in We the this forward achieved look other

clearance T HepTcell designed an see weight events, highly parameters and we infection call and adverse for hepatitis an chronic patients that antivirals.I top hepatitis a our Chronic have endpoint over financial will chronic complete may direct-acting chronic XX-week announce is results. lipids need will and Other direct-acting commercial B immunotherapeutic log was trial in trial and once B subject vital It as significant all X-month subjects line hepatitis hepatitis quarter the update of a in to period. active and II results to chronic Rich? on an for expect that differentiated XX previously expect surface serious readout to give include have immunotherapy. B to digit is to provide Phase Rich antigen. of approximately B we represents the of HepTcell with generally analysis. the Eisenstadt with We of this third completed activate The United to enrollment with B low serum combined interim reduction of [second] unmet both virus announced, or HepTcell continued B is noted turn cells enroll to in hepatitis functional XXXX effective B. beyond hepatitis the subjects cure we And in quarter infection. was loss a fight worldwide novel, to trial and represent trial require B double believe (sic) hepatitis opportunity. States the X designed levels glucose the clinical the disposition believed of the now an infection therapy our antivirals surface continues antigen.We treatment will HepTcell our a The with multicenter first signs, in the primary control.Also, hepatitis

again. Thank good Scott, morning you, and

the XX, for of $XX.X of the second million providing costs the will in brief quarter More compared Approximately for the related million to of clinical second Form of pemvidutide in second compared results. development total in $X.X including on filed the the was stock For the XXXX, XXXX million compensation for compared operating and was for quarter income months $X.X $X.XX to a the related the expenses, in primarily net to XXXX.Research million quarter to first this million to The ended million XX-week expense, cash million equivalents XXXX, $XX.X for quarterly same and Phase per expenses stock were to administrative XXXX change million, ended $XXX.X programs, net or our months of second financial the loss XXXX.Net today's cash to of XXXX. loss X biopsy $X trial $X.X net period per from $X.X and XXXX. expenses, primarily loss the our operating $XX.X in NASH second the June period in in labor-related and XXXX development period be million of costs with was increased XXXX. estimate in million ended or $XXX,XXX of information activities XXXX of short-term for that us $XX and existing quarter to our to were through second funds the today.Altimmune million quarter direct compared our update IMPACT investments activities of comprehensive the same X quarter million, share, in available conduct same expenses of for approximately and quarter attributable later $X.X XX, HepTcell.General expected expenses our compensation.Interest call, results compared non-cash direct $X.X direct IIb million approximately XXXX of with development SEC the be loss $X.XX of $XXX I'll on Altimmune's cash, be other XXXX.We at share, were end XX-Q in June

Vipin will trial.I the funds over also MOMENTUM of for it financing XX-week to Our back HepTcell his closing completion now trial Vipin? the turn and remarks.

that the to you we lines instruct Q&A concludes and Could the our on remarks, please take to procedure? questions. Operator, audience like the formal would open

question [Operator of line comes Instructions] Guggenheim. from first Our Seamus the from Fernandez

We your Elana [ presented EASL for XX And Are just secondly, ] at were is expectations you glucagon thoughts to teens? as This weeks. any Merck mid from weight for targeting Guggenheim. still curious on recently? Seamus loss respect far their with to as on at what upper

take want that? Elana. Sure, you to Scott,

Thank But in to weight reduction mid serum to a in glucagon And believe can achieved point continued even achieve would by and that cardiovascular and teens. our effects, with trial.With out for was achieve. a we reducing which better loss lipids that are regards glucagon that's Yes. of results we a in still semaglutide reduction point expecting that that upper Merck, regards showed that I fat, with fat. alone. risk, to we monotherapy SELECT than you liver the important significant is for the SELECT, that believe that Yes, with hypothesis significant the GLP-X in achieved to view to We validate extremely question. with those findings we hepatic also the that readouts, think in be results associated that with the very

So we several We're had information. I about would was, that things one, out trial see period. a confirmation to significant doing of were happy through that titration they not go point to that. number But

compound upcoming has employing titration with And trial, seen our been mentioned doses increases, no which my second also in heart that significant program. at have in X those rate been the associated have is that We as opening I trial. remarks, NASH the our we're in not

Sandler. of Yasmeen Our line next from Rahimi question Piper comes the from

so the Thank great all you for updates. much

new I think week also morning, demand continue I data SELECT Noble. how you obesity for to think another And novel has this we really for therapies as know, emphasized by this this morning increase. the acquisition saw the

if you kind the of us evolving. raises give interest this of M&A an question, is how So update on sort could just the

X of weight I think and acquisitions of month, where we that have seen not just last and it's novelty about broad loss. in the they bring therapies

to an what around update from upcoming Zealand. from interest on additional X be from there as how the the So will key is as do growing, and impact M&A discussions of XXXX. are you potential I would obesity.And partners SELECT love readouts BI first in in on get tirzepatide, secondly, with glucagon the compound well data your expect then half Biopsy &

you're love or or how So could color would to hear your thoughts about how thinking or translation anything that. on those detail provide around results

a I X think readouts that lot clients realizing not may those really are of key. be our

XXXX. the you these queue. do to of X expect love jump what readouts, tackle would biopsy first half tackle hear X in you M&A, the So if into to incretins in see And the back I'll could

Yes. Thank you, questions. for Yas. the Thank you

in next the year. and question, out coming about over talk data I'll Harris half take Let first it the M&A me to then to the Scott turn of

the mechanisms. class-leading additional serum what glucagon And drugs, fat is really adding alone, we know, that improvement -- market bring just you not We some lipids, to that want that's differentiation profound want, just to the from is to but are GLP-X. along provides going segment. what we that they whole saying seeing all table obesity to the basically this by reduction. mechanisms going There the from gives the over that's the want, are obesity that would physicians as now fact we've it. liver be benefit and that see going would been need in -- game additional first multiple of to is think with are starting we patients we're generation very people exactly GLP-X And to going So

diabetes, at other liver look is content. and designed obesity for more you there's If designed population, this fat have of patients is wave of diabetes. dyslipidemia diabetes as but treatment obesity with don't -- high really that have patient many and such the treatment first patients comorbidities But for

recent and novel of the in think really seat very acquisitions been you glucagon there.We've seen going a encouraged. mechanisms we we fit to table. obesity at from There's is already interest, X So have have nicely And compounds. as lots

data seeing that on the internal their are programs, We glucagon. from from coming pharma, large out

So we've from the discussions. from ongoing our we that are upcoming the initiated discussions. And IMPACT MOMENTUM, data encouraged further data going very with fact to MOMENTUM, and is capitalize those

excited we So sometime we're of about Phase partner very next the obesity a having prospects III development before in year. onboard start

the year. take the Zealand question of I'll second Boehringer half Ingelheim tirzepatide your about readouts and next the And in Yasmeen. first Yes,

glucagon that that glucagon. Boehringer glucagon. effects having achieved at glucagon seeing And in dose, matter, compound the And reduction fat GLP-X. tirzepatide dose, we point the that, tirzepatide. tracks I highly is in top milligram a their ratio biased and well. for absence minimal. significant out to think but only reduction study, liver as of is of We're on The said the lipids, and glucagon serum any non-invasive of evidence biopsies. to think it's at is the only also Ingelheim the compound seeing tirzepatide directly that exceed in they're XX fat. to meaningful we of fat, activity lipids, it very not but liver fat And In The X to liver In in forward will of X:X. reduction content We still serum as the for and the the contrast, fat has that the their non-invasive rapid important believe have not the get an that activity, reflects IMPACT no trial those only is Zealand liver pretty I is Zealand XX%. from in we compounds is about not that of liver first come fibrosis of rapid entire next that about think pattern.So has we achieving year. year same And data half follow resolution not think significantly we of important just end from either we on reduction results the those our would key the think glucagon. what improvement NASH with nor

Thank into you so back on the much, team, I'll really progress. jump the queue. and excited continued

Our Jefferies. of Song the Roger comes question from from next line

as for well. questions mostly couple the the related progress Congrats obesity. a to Maybe

maybe you for waiting some but for of all, Phase the still you're admittedly, after for curious XX consideration Phase with maybe the terms the XX-week comment and the can conjunction on III II for of in trial the preparation III your of And First data? dosing seen the you've obesity the the discussion. just readiness in partnership the Phase -week,

that's very interesting a obesity, So with comorbidity two, this pretty number Number you high percentage. that one. mentioned

the Just comorbidity can creative patients or curious, with to the do how given trial, bigger for benefit glucagon you patients comorbidity. think those you to very addition design differentiated enrich likely the the maybe treatment demonstrate mechanism, those effect even for the some

you Absolutely. want the Scott, to first? comorbidity question take

the Thanks Yes, Roger. for question.

be about to about The a we that deeply in subjects appears Phase we're safety based programs, we preparations for about database matters. be, on not what think It that want would in obviously, the appears it's with prior been but X/X talked So plans we in the receiving will specific of drug the fact public of those about receiving III. about that have diabetics. have And the the safety agency the placebo. size and study X,XXX non-diabetics active X/X database

the some preferences and comorbidity what been now. like. options there's been that partners in osteoarthritis, their active looking the getting as looking would that, And from about at, discussions example, be. about right we're at as We've well Beyond feedback for

soon that we'll have -- you about additional investors. as Vipin, did information as we that, share So with

mean of couple I Yes. a things.

terms half in Phase Phase of to being plan in is second III year. be First our of of the next III ready, ready all,

obviously, before which to FDA, wait for meeting to So we the have plan requesting data do. XX-week a we the with

before that. we're goal putting lined have So start Phase all And place III. a is plans our we up the for in to partner again,

Phase Phase of kind ready III anyway. of first well timing have that half to as program II with large from mentioned, soon enriching of partner as meeting to for III the fits year a we campaign be next have the co-morbidities, perspective, up Phase the patients comorbidity terms as -- a So line it's us nicely. going a as FDA.In Scott Gives of both the end as fairly

mean, even really have patients. we these So than don't comorbidities of for looking These diabetes. is prevalence these the go are to patients X higher I there.

patients. So hard these it's not find to

if that So we're it think good of in in a to in having to those access patients you Scott? shape subpopulation, terms want way. obesity the of

Yes. And the actually outcomes I Viva best wanted that at and place sure was add, powered. right? for trial, that's to comments, waiting it's Roger, adequately an want his is finish was that to endpoint, to to those, look because the I populations enriched in what make that you

as SELECT I effects in because for the mentioned weight comparable lipids that important fat obesity improves hepatic loss, content. remarks, remarks, as patients outcomes risk. opening in we that So mentioned also of showing than we glucagon's of the at on think is that I opening serum with will and trial extremely do better And the the

So outcome with because that's what that the is. enriched the trial best probably number the those will and of of results actually power and think be place in We the subjects patients. the those analyze to trial

it. appreciate That's really I great.

Goldman question comes from Jenkins of next line Corinne from Our Sachs. the

is This Craig Corinne. on for

would highlighted, what like? point So I'm the a looking is NASH And about guess contribute a on development look someone partner wondering to you And I wanted just that specifically, what your of you indications? that specifically or individual finding ideal build develop pemvidutide. to partner you and are I to just describe for obesity can to

the for you Thank question. Absolutely.

companies, all be I to So you the I then universe us fairly the would can that it, of talking expect to talking mean we're that way and best companies of large describe to some.

NASH don't that molecule, want and that at of same split would In obesity. it's a indications indications, the we the to partner believe looking for the drug both terms it's given same

the in interested are would we that are people indications. they so in finding yes, both news and And So metabolic partner somebody interested our compounds. these good be that both both of additional for are who indications even indications diseases, is incretin-based is ideal

I we really We various key the is deal get that in think assets. flexibility. have indications, be for us would or value of indications, But in The both these overall, So partnership. ways. perhaps can all the for the structure full included to

encouraged keep are and moving with very conversations, forward. we'll we So

comes question line next from Our Securities. the B. Mamtani Mayank of Riley from

A few from us.

So staying this theme glucagon-based a of complementary therapeutics on programs there. number being of to out

your curious Just combinability assuming those is if any you rate I was are. Phase I assume on sema. can work what if NASH regarding with either there's sure of diabetes IIb doses. underway some Not rates sort of background obesity-level comment or

I haven't Sorry a that's clinical dig I sure of been posted on out able Not yet then design to follow-ups. ct.gov. couple there. your And if trial have

Yes. to if Mayank, therapy. physician concomitantly. top them certainly believe problem point is that we've would in no would that at of that the feeling as using It's wanted potentially existing pemvidutide studying something safe a there be But at GLP-X those combine some be our we looked on current therapies, future.

importantly, fat. see because -- additional the on component -- we And and over effect above direct pemvidutide hepatic above hepatic a again, treatments, benefit of of direct a glucagon baseline any more having should diabetes and the effect of putting

should only like be activity GIP GLP-X Existing does. helpful

right. That's

was cohort may And curious also Any were interim contributed full to characteristics a there relative to sites rate. you The And insight for I reported that discontinuation patient population March. then have on analysis about in on baseline have MOMENTUM higher certain there on there you the quickly. cohort differences? that the

what was like versus sites? there analysis the ratio can like looks population So the a you full interim those share in population that

I We that comparison population the terms Yes, Mayank. public that when was the versus a demographics and had ratio the enrollment interim of were the population, full in comparable that statements of September had in that -- we XXXX. and BMI, we age, done the in announced gender We body completed announced we analysis weight, like. of believe and MOMENTUM made --

the So of the information. yes, of there enrollment.Regarding trials, clearly That were than there's been been some had out a when discontinuation trial that no we rates completed was place other has additional rates sites took snapshot of discontinuation sites. higher really that

discontinuations of Dr. And showed or rate. discontinuation patients management really Aronne's at had it example, For controlled the all. site careful no mitigated that the

that and a be yes, would really those for trials. future whether taken look and something, consider So is that at sites they sites we we've would

I CRP that you're Is to since patient inflammatory or Okay. Got quick the I is But at it. trial work study your just the this CV full independent have Obviously, SELECT non-type HbAXc ask even see population, a was diabetes understand is to a there. everyone mechanisms And we and curious the report results the question. can X study, that the a if at was have biomarker, still, to you'd as that? in help outcomes. state starting underlying looking out with we marker about in know, NASH on that obesity trying

don't to that point. have share this to Yes. have in information We at future. information the We hope

Okay. one And Rich quickly. last for

if coming Because obviously, I we making kind probably feed that. for drug. sure scaling the III should up. also this trend are into back investments as up, curious On you we was making that have quarter-over-quarter, ready capacity-related with that of ramp of sort any manufacturing down are obviously, study up spend Phase that R&D supply you NASH investments the of just

diabetes, Yes. All and other that drug-drug is the year the true, Mike. trials, ran rolled of the trial did spend we interaction come NAFLD off. the trials as some The last down

MOMENTUM So trial. expense, trial QX into pretty investment much the IMPACT a little was of bit just

trial should completes. point or that back the expenses old we that will increase to as also temporary the that rolling increase. the off to ready. second year, now. some Phase expenditure probably Looking temporal should be have at you And rebound just rates, IMPACT will get this All half R&D patients out, the or manufacturing of to And lead are as trial some but MOMENTUM expenditures III materials

the I'm there's of or complete data such -- in XXXX, we end trial will out rolling up sorry. do the the as end that, towards big always So expenditure we and as XXXX that But back a analyses forth.

Understood.

line question comes of Jon JMP. Our from from next the Wolleben

me. for Two

design. trial you but adverse rate acceptable the especially weeks, what XX Scott, I after the loss a class. GI for talk of context you couple of you mentioned what that And think view between as weight for you about threshold times. was terms see in Wondering tolerability, the then heart within could expectations also, events, heart mentioned You you'll unacceptable rate increases and hoping

Yes. Thanks, Jonathan.

Regarding II. continuing Phase oral have that worsening to think first, indicate Lilly XX% We into of We have this also, rates would still prospect the GLP-X with certainly We as blinded retatrutide XX event tirzepatide saw point thing We've the of it mentioned excuse II not Phase to the companies. discontinuation weeks. anything in with that it to saw at program. in other One as we've data we learnings events. III, prior -- the all me, go seen any are program, this the in any adverse calls, the we get Phase it adverse only seen data. with seeing We we'll we out saw that that of program. there's the was but the there's with we're And better, programs. would

it's rate point time, at actual rate they down end much is think was the that and this, heart the increases over with heart of is In we The that the data studies, I think is on. these were one really the trial. increase would and could But minute that high, also So as heart associated the in strategy the addressed concern they're per really the really I of reduction especially be that increases, we out companies Phase the were that the known quite retatrutide will out our things linked. XX course III.Regarding of that in bring rate something this is. have dose trial, Phase clearly what threshold as retatrutide arrhythmias, the reporting two that early beats seeing not

field. increases. and really seeing not not So to lot would imbalances learn that that the there's we I comes a not we're any and arrhythmia. heart seeing We're compounds the as distinguishes but of that to that flip from us data. And any that other out, think seeing more data rate retatrutide our We're with say in positive

you'd in expect to that early happen mechanistically, treatment. And on

weeks, So XX? we see at if it see didn't unlikely at to XX

increases to course That's be question, of adaptation time. does the but on. to appear early a heart difficult be There higher appears there over rate

regards during trial. course to occurred when what's So of they to but understand not there's arrhythmias the is with say they occurred, the important that

Now, small. the in outcomes profile. clinical being as very trials standards, drug feel be you to with start expanding something of any events subjects. at trial, with population, risk. We patients trials these our kind in you the come taking that's be especially by II. that Phase kind Phase comfortable a of are XX,XXX conducted relatively in development studying signal But the cardiovascular are, safety II But enriched may that large seeing any in when one are you're outcomes out supposed They're in with

Scott. helpful, That's

from line comes Our from next Trucchio question of the Patrick H.C. Wainwright.

have already that here you the And think weeks [ for that? could question regarding XX benefits see data fibrosis can another have are do on And resolution you NASH program. then One HepTcell Luis ] And data, on to enough improvement? I question Patrick. some on and NASH the predict clinical program.

question, the Luis. for Thanks Right.

showing stellate data drivers gene showing animal activity in NASH cell preclinical of in fibrosis. accompanied in that's And study have do also models improvement. reduction fibrosis by those of been we So expression

the and and at improvement liver XX liver we that factors a weeks. several ability fat believe achieve class-leading we our link high effects, XX with reduction have and companies shown very think to have those the success endpoint, you Regarding achieving of NASH the the fat XX-week just we endpoints that And between at fibrosis reduction with likelihood resolution mentioned, in weeks.

Yes, just the fast that you get not there. the how It's out also of it's effect. point magnitude important to it's

but terms not liver overall reduction reduction in fast only to in class-leading very of for speed weeks. of it, in the liver gives fat, also, we time XX plenty it's in fat the of heal So liver believe

to that Can HepTcell? have see helpful. what the HepTcell complementary forward data to confidence you a to discuss be will you the That's need move trial? in mechanisms believe program larger most more you to to And the the antiviral do

that? want Scot you do take Roberts, to

potentially. trial, Combination

Scot you take that? Roberts, to do want

Luis. Yes, Absolutely.

virus, of the the cells. cells itself, the infected that the able way immunotherapeutic, is clear HBV recognize that virus stimulate So is HepTcell to from mechanism to help and are in which T

agents effective state dropping the level in know, As siRNAs, at antigen from a been tolerant immune antigen of results antivirals, have those rebound level. antigen that monoclonal the the antibodies against recent causes very you and surface that. of removal surface surface the But that

up an system, generally that's effective the take with believes immune the it will responses we immunotherapy way off to why the immune so very combined to antiviral together conserved rev and So antigen, yield -- very that HepTcell, of of direct the a system, to the suppression that therapy. a effective disease.And direct levels and against when polymerase this antiviral, released combination stimulate an an now immunotherapy be with of HBV an believe could core could its portions surface effective the lower interesting the anti pressure immune acting to with antigen treat that ability be effective

in the any readily the expecting reduction us in a we're that with would efficacy prepare a with log what align II direct study antiviral. as X a far antigen. and endpoint that's of Really study, the We achievable. us monotherapy at HepTcell sort HepTcell Phase is believe surface of follow-on then convincing As for set effect acting the

Great.

clear that of the type infected analysis follow-up quick you any a the other that. not those to the on on but of have presenting broader stronger T a CDX a have Would Just side you with effect antigen on required are cells? response, potential just cells types response

that aspects to respect epitopes breadth, really differentiating we've selected HepTcell. with include especially that one in Well, constitute of HepTcell. the It's that's the of the peptides to

D, the through brought demonstrated largely be bioinformatics very regions known breadth, highly we've would A in right a against different response. genotypes hydrophobic that these genotypes, genotypes response, so now. the of because what feel immune and between And showing epitopes have through broad which That's respect and all are to the the preclinically data preclinical conserved do to we extend are the suggest, we with would

At Vipin to back you. over conference turn the like to this I now would Thank time, Garg for remarks. closing

you, participating results interest. to with for Thank everyone, your outlook a and you. you, share appreciate the continued today. you nice day. We Have our thank for opportunity Thank and

call. you participating. conference for Thank today's concludes This

now may disconnect. You