Constellation Pharmaceuticals (CNST) 9 Aug 202020 Q2 Earnings call transcript

Thank you for standing by and welcome to the Constellation Pharmaceuticals Second Quarter 2020 earnings conference call. At this time all participants are in a listen-only mode. After the speakers' presentation there will be a question-and-answer session. Please be advised that today's conference is being recorded. [Operator Instructions] I would now like to hand the conference over to your speaker today, Ms. Khaleghpour. Kia you. Thank ahead. Please go

slide morning Polly. our Medical conference Good financial welcome you, Chief and Humphrey, call everyone, and Executive Officer, Constellation's Officer, Scientific Dr. Financial Dr. morning to discuss Patrick X. Officer. this Jeff Please this our call on XXXX new performance. to Jigar Constellation's turn Raythatha, operational Chief Chief Chief Thank to our Participating and Reeve, are Officer, second results our Emma quarter Trojer,

risks, Before subject begin, point for Actual factors company's discussions June that quarter recent risks Exchange well uncertainties company's we described most Securities important due Jigar. want XX-Q I out with the XX, Commission, those call And the including I'll and forward-looking uncertainties. including materially Form in our to the as the include as other filings will Risk on to turn statements, in presentation the factors, section, the various results and now, and over ended to to today XXXX. may differ report which important are of quarterly certain Factors potential

and and subsequently and at where Kia management have affairs members experimental Bayer me everyone. research began Prior joining for over Bristol-Myers Company with clinical Officer served our experience the Kirin drug I'm good his very of company's of in three new joining Jeff Constellation, pleased He development. Development and on drug to Pfizer, a Squibb. and management to therapeutics Bristol-Myers team late Humphrey, positions call; Kyowa Chief at oncologist markets. portfolio of medical the Squibb morning development of the he our you, early at is he Thank Western CMO medical oversaw development XX was years the for global industry

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and good slide to Patrick, XX. Thanks, turn morning, Please everybody.

to discuss our like for our toward I'd XXXX. First, progress meeting milestones

presented we in continue encouraging earlier. EHA of at initiate and MANIFEST MANIFEST-X to to data our planned, clinical the we discussed trial As second half June as expect in XXXX,

translational program. year, CPI-XXXX. Importantly, week we in disease-modifying The a elucidate in later same and Please XX submitting those note the study updated this the on potential related updated contain also data new based this Phase clinical plan this abstracts to presentation of April the including further the our ASH data and to provide included We're properties to help could MANIFEST process update of clinical X abstracts cut translational don't from data. both that to data. are EHA

So accepted, ASH again, the assuming we at data expect to rather in the present updated abstracts. than meeting clinical itself, we're

CPI-XXXX, providing focused the year, Phase update dose. primarily a around of in second II the half continue establishing an to For we anticipate recommended

will Now loss increased let's had year-over-year, $X.XX Personnel which per in quarter, fund to second With results our securities recent the million as cash marketable financial of in quarter. we XX, with turn our loss we to attributable the of cash, XXXX. expectations. review expect $XXX.X mainly compared to increased needed organization R&D to MANIFEST-X, $X.X was net operations our expenses were III in in financing, Phase commercial with into CPI-XXXX. continued the launch of complete to year to prior due build quarter per The equivalents second MANIFEST as Slide net We trial, our trial the for and complete compound. and quarter plan the work line out these costs XXXX. share to the XX million build share resources to quarter compared the related second our with the which for $X.XX also by $XX.X clinical to to was common organization. CPI-XXXX June to million a the our stockholders start to mid We use

remarks us over will our line to help operator. our clinical questions? cash would That morning, Polly, as our open so complete things addition, X, as discovery In turn this support well Phase back the prepared the CPI-XXXX platform. concludes to to the X for I'll trial please for you for

comes Anupam question first your of And Instructions] [Operator you. from with line the JPMorgan. Thank Rama

setting? so are the second me. Two potential And did the quick then go-forward Thanks between this strategy? and Thanks any opportunity about to line the CPI-XXXX, the in you How highlight differences you question. population And potential treatment give for biomarkers ones looking much. or feedback at on thinking regulators taking transfusion-dependent from from on you'll much strategy be MF non-dependent so a are for what enrichment regulators? any

Patrick So thanks, and needed. then remarks And Anupam, add with to for the start that maybe additional ask or question. Jeff if I'll

line So to on broad line. that of we'll agency to assess naive the has information continue our context, I in drive have setting. asked patients constructive past, think generated was end our and label of able pathways potential we're But received obviously to focus additional dependence the the data in been the those that pathway we points setting, various have and did in to we kind we like some exploring reviewed paths substantial transfusion a you we and patients really including path the of novel feedback the with based first-line incorporating from forward. And And forward cohorts first conversion. second in an in be question second as in approval said that on naive

to forward that what speaks have that, certainly end on additional an that this go that on with something in belief conversion, got At on don't on say And we unmet that ahead if -- potentially sorry, how additional add if the there. there's Specifically feedback to is an there's point back you on the patient you want that dependence based that have discussions. then that. transfusion point think to agency, our population, we need. XXXX new determined to but certainly there, have we'll that's discussion specifically Jeff, why end is and drive I point, we'll information that, we incorporate report don't And additional we

Yes.

year. excited No, this out start protocol, sorry key Yes. are have to were I'm interest you we stole CPI-XXXX, and probably biomarkers and say, And just for XXXX. Sorry the that Thanks. wanted with first Those extension I be about said, will then, point ARIDXA. elements thunder, now about in aligned biomarker to also that. patient the Jigar, the MANIFEST-X of are on FDA your strategy of the I to on Patrick the the we of very as EZHX

Yes.

in Patrick, As you well on want to as do chime that. other potential avenues,

Yes.

interest So publicly clearly is disclosed what an we around ARIDXA.

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for our Got it. taking questions. Thanks much so

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of combination the sufficient MANIFEST might on other plus it ruxolitinib. what Just the a about wondering potentially not you a that more there's XXXX Thanks. early on -- you support like might from Can little more to -- support -- current but you have wondering, a threshold aim look data Would potentially more could you of talk -- necessarily just little more if additional clarity I any any the may steering sort for they if to end gotten could containing frontline be bit certain updated exploring. rapid some bit goal looking is be more hit? things primary path? you talk point patients, about on if you know a FDA a sounds to monotherapy, the the of these you approval could particular toward is but expand of data

And that, you information. Jeff, Yes. certainly additional chime should then I with with start will in Brian.

including we for in a patient naive Having that said the that on very really sorry, components. very, we the study think, MANIFEST-X data the notion I is said some experienced It's here the on there's in contributions based patients really we -- being in as contributed to population meaningful. for the that, probably CPI-XXXX. support out believe support but the both have activity of we have, that we MANIFEST, that past, tease the of excitement think patients, also sufficient necessary naive that that genuine that, the the from from monotherapy randomized particular

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Yes.

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Yes.

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question as the in is Europe. of FDA. we of regulators, various in studies the sometimes country efforts, in -- discussion the regard we to our part so right countries So be the the terms a approach focused first the strategic to feedback our assessing of We're EMA, initiate European as far, on on it's a time lot we'll when but with obtaining CTA process, the

can second sorry, you question? repeat And your

Well, or outside you prepare planning for if wondering U.S. you plans your you was launch, to for you're were build your ex U.S. the to partners the or plans U.S. mentioned what had if talking prepared remarks or on was that any focused to in if maybe commercialization. capabilities so that commercial were for I

Yes.

emphasis is of assumption -- a an on fair I what the doing we're that it's U.S. think

right think I early on about of about commercializing for that regionally, that's think we a but wouldn't whether partnerships haven't little about Asia, U.S. It atypical how it's think us having to potentially outside ex-U.S. be yet now. to committed Europe, the to comment

year, key update? are that from by that And what capture the to for the we Okay. of should then the update MANIFEST learnings expect you the end expect

several is things. there So

MANIFEST of So and will patients across one additional will have the either enroll cohorts. be all in that mature the study

should in when X, had patients were XX XX that -- or particular weeks. at Arm XX So XX those, the cut, take weeks. substantial And we patients, naive in a number we were data the patients that at be of

to just toward help support bit in plan Patrick describe end ask potentially mechanism about here. But the data And to of so the set, data we generating CPI-XXXX. we've we play chime been mature Patrick, that, what present more year? again, you really further have additional that do more with of addition that of patients maybe kind in to data on the number to support set I'll want that's a of the of translationally, the action activity to to growing significant at the a

Yes, happy to.

later these So taking of year. as initiation underlying understanding and Both treatment focused gene Jigar those from that modifying pattern taken molecular as samples, blood clinical changes in mechanism prior them in analyzing could ASH conference data sets we'll and the expression changes with at during for action. the vivo-treated in the really the analysis bone from some better patients samples biopsies composition aspects disease treatment compare were come are from said, update of potentially in and well this that of we and explain addition CPI-XXXX samples as and on treatment from ex the the further of and potential ongoing will analysis of course patients marrow of that the

questions. very you the helpful. taking That's Great. for Thank

And Reni your Securities. from with next Benjamin JMP question comes

present be for the for Reni. you EZHX the have This you data points data be about program are Justin ProSTAR I when you full is but inform on set? know presented? when we discontinued that any overall data Hi. or takeaways sense And Walsh should do looking will there guys key us of a to CPI-XXXX, that

Patrick, do take you want that? to

Yes. Sure.

made trial, all that further. have get to EZHX cancer a data So guide not to prostate our in when the in that and been molecular or it's on there taken analyze the we point cancer. efforts closed, disclose study its we closes. yet our leverage study observations development obtained want are the prostate where when obviously in ProSTAR we internally haven't we at inhibitors has ProSTAR a perspective, make samples the potentially from to data obviously would later interesting entirety. And would from we the disclosure hands so exactly these as we ProSTAR future can decision us explore have such From The

And -- rux? Perfect. developed, of BET competitive And particular, question, I either alone guess any MF? some about in are the with your your just are one in landscape in thoughts being regarding what other evolving inhibitors what other combination or that

that take I'll one. Yes.

have. of CPI-XXXX based on your we of very studied is extensively companies. some in think therapeutic about -- have question that's molecules terms in of has I'll terms of other the in So allowed to first, a we your unique that the properties a to by the of molecule, is inhibitors. us -- window been of flexible take part the this a this that what progress class we And is And state BET second molecule variety

getting But just X on inhibitors have being in early follow couple of dosing seen to they're there CPI-XXXX. some from perhaps activity know that not BET other the now publicly the do in to myelofibrosis, seem think, be path. of our evidence folks to that yet MF. equivalent disclosures we've made yet are a to Having that we inhibitors haven't are BET they're I and we've of patients. studied around that even kind at that We that, in seen going other least And said tried subsequent

some on approaches about There's be studied these And the they so of the are some as study Phase their a of BET other X as a terms doorstep will quite to of there agent -- cover a in a kind that just bit our in timing establish of as understanding to perspective, studied. combination safety. we're molecules, well as III being you of well think with Phase therapeutic other where from the of starting distance therapy single inhibitor window as

so combination haven't that we pretty terms got certainly, EHA, anything is any I identify feel haven't either unproven, that we But patient at give presentation data several significantly -- the are there's at In there that other advantage, comfortable substantial in other competitive us data therapeutic company context. continues is they're us we windows we've those with at are data setting, mechanisms And we'll that seen an in there's still single-agent seen, but a present of a so are the modalities, then enough monitor studied other haven't out certainly to JAK those frontline if is that to kind we in have, as being that and intriguing therapies CPI-XXXX JAK-experienced even other that, open And population, ruxolitinib. continue Particularly think, which of seen therapies least that's still we really well. this of the point. lead And variety inhibitors with or evolving. that additional data able an there from jumped in like latest public to to question. out

We'll no are there closing over [Operator Instructions] And to questions. back for turn time, Jigar this the conference now remarks. at further audio

great can the today. forward for look everybody the and we line. much conversations. Thank disconnect and thanks your additional very appreciate to you Really questions time Well,