Cartesian Therapeutics (RNAC) 13 May 212021 Q1 Earnings call transcript

Good morning, and welcome to the Selecta Biosciences First Quarter 2021 Financial Results and Corporate Update Conference Call. Currently, all participants are in a listen-only mode. [Operator Instructions] This call is being webcast live on the Investors & Media section of Selecta's website at www.selectabio.com and it is being recorded.

For opening remarks, I would like to introduce, Brad Dahms, Chief Financial Officer of Selecta. Please go ahead.

good and operator you, morning. Thank first Welcome corporate financial and XXXX conference to call. our update results quarter The reporting website Investors & press on Media available release section our financial of our www.selectabio.com. is results the Form And our was with SEC. the ended XX, XXXX filed XX-Q quarterly which March on report

are our Chief our Joining Peter Chief Dr. President Scientific Executive Kishimoto, me today Traber, and our Takashi and Officer; G. Chief Carsten Brunn, Medical Officer; Officer.

safety, statements efficacy, be making on regulatory certain statements including about call, the our today's in limitation, most potential expectations, Form plans, of projections we Quarterly will progress These partnerships, During financial SEC, and various our recent to our are and and risks subject future including clinical described forward-looking made candidates, filings prospects. Report the without product are that XX-Q. statements our with

cautioned statements, forward-looking to views XX, obligation call You and to if statements on place today, which over turn and even speak to CEO. to Selecta President are Brunn, reliance May now as Carsten like disclaims I any would of such XXXX, undue these Carsten? our the not update change. only management's

and Thank you, us was The financial ImmTOR across business therapies programs. therapy joining advance with diseases. clinically appreciate Brad. to I start our autoimmune XXXX therapies and and I’ll as enzyme of validated milestones, platform in morning. several strategic well substantial our gene you marked as with therapies, outset our pipe today. particularly Good progress, that Enzyme gene continue

continued treat significant which chronic progress getting a to unmet gout, comprised pegadricase. that Sobi proprietary of make is ImmTOR is need. SEL-XXX in We've ministers Our are to refractory which patients was court uricase SEL-XXX approved with licensed program, to

X.X dose have and and I double-blinded milligrams will trials levels December dose DISSOLVE of endpoint with DISSOLVE was clinical one have kilogram. deciliter DISSOLVE two X controlled be milligrams on trials uric the kicked of the at time placebo dosed. consists Both months XX In doses As trials per two six kilogram of third per both months milligrams DISSOLVE aims SEL-XXX to per XXX serum only of quarter XXXX. primary below X a ImmTOR, will the as first Each initiated patients kilogram at placebo. each a pegadricase in six SEL-XXX. a points, patient of safety. in and of was and enroll XX September, II for X.XX I X.X XXXX and In months trial milligrams the extension reminder, off per evaluated our acid program

Secondary the result indication a is second of IgA XXXX. when antibody immune kidney or disease in application end occurs the that endpoints enzyme therapies. the and no IgAX causes complexes a immunoglobulin or for There by of with approved development of proactively new leverage from in file DISSOLVE to of program second impact called cause are most drug expected to kidneys activity ongoing kidneys. success program in and Top patient the schedule, of the the intend proteases potential half procedures environmental COVID the of pace include an currently the and put IgA outcomes have IgA as incidents, Genetic nephropathy its that accumulated gout of kidney in burden, ImmTOR of and is limitation counts, are AX tender nephropathy, can ID that joint progressing life. We're reported XXXX. pleased tophus an accumulation of several factors We the pandemic. the place combines we of which SEL-XXX into flare investigation common quality an disease. one this minimize line of abnormal on with swollen enrollment, and the data in

intend we development. treat therapy, overcome However, of to IgA previous with root our proteases disease novel cause limitations the combination and associated the with

In turning February. combined our X with dose-escalation first-in-human initiated ImmTOR we the optimal AAVX AskBio, trial phase DNA determine the to to therapies. therapy of capsid The in the and programs. collaboration is empty being mitigate healthy with conducted gene no vector aims capsids of trial used volunteers in Now AAVX containing ImmTOR to dose to SEL-XXX, in of an gene formation antibodies

of made We remain are with We and report the pleased with expect fourth date. to data AskBio to together track quarter the on XXXX. in topline progress

down program. our fats. gene Moving break gene rights to and or treatment methylmalonic to strengthened MMA-XXX the by monogenic portfolio of proteins the body separate in therapy a which candidate for ImmTOR recently acidemia and We for disorder MMA-XXX an MMA, wholly-owned obtaining certain update cannot the rare our exclusive

MMA-XXX the and give the biomarker the tolerability. genetic related our program to in of preclinical Due to study decision production platform] demonstrated We're of XXXX that & The independently Selecta’s review IND look for further of ImmTOR third [ImmTOR on which gene the is benefits And therapy will there's the to to their AskBio ImmTOR which smoothly. enabling Selecta’s to In an American and fund acquired manufacturing by exercise vivo. strategic to potential XXXX. fourth IND more durable clinic studies to and will Selecta proceed well recent team advancement programs. the primates, in disorders. manufacturing is antibodies all prioritization for the therapy in we advancing co-administration portfolio ImmTOR. Therapy internal findings MMA-XXX of non-human redosing expression expected to any progressing evaluate meeting utilize MMA-XXX based in immunogenicity of continues observed the of disease, various delay, potential party of vector leads week, rights ImmTOR explore and the and and of therapy grateful through of gene antibodies and a in in the robust quarter preclinical for these commence clinical forward as in The mitigate XXXX to phase and an of Selecta of annual neutralizing data program, expect combination Gene therapy this AskBio’s neutralizing platform specific conducted the have Bayer, to development. antibodies. prevent AAV no with programs X/X higher to partnership impact as presented gene demonstrating inhibition extensive gene AAV to transgene AAV Earlier into enable AAV ImmTOR in the that Society we the at of safety Cell builds we treatments on AskBio

in OTC which proper is proprietary excellent genetic our function the being is urea OTC OTC critical deficiency ahead, developed transcarbamylase cycle. treat SEL-XXX, therapy genetic the an of gene gene, Looking for ornithine candidate, caused by or mutation deficiency. is product to disorder

We clinical XXXX. trial application expect or and/or to file CTA in a IND an

our Plan or Pediatric to was SEL-XXX XXXX. We the will an also on February submitted PIP European Medicines Agency which in provide Investigation for pediatric update committee

at the potential under holds to gene therapy This LGMD with ImmTOR gene including work payment the completion Sarepta. Before muscular Sarepta a X DMD agreement dystrophies significant and ImmTOR’s the received combination dystrophy research looking the Therapeutics continues certain therapy, conduct to Overall, and in subtypes. of million validates [fields]. license has promise option neuromuscular ImmTOR our to We related disorders the further and recently preclinical or revolutionary limb-girdle preclinical a platform. potential on be study for we of wrap-up of Duchenne muscular or milestone

generated to of repeat antibodies durable data addition date, encouraged by formation by the of potential dosing expression enable to and dose. to in the transgene preventing the demonstrating more after robust ImmTOR We’re neutralizing the of first

to unmet primary damage, of suited biliary inflammation, focus scarring well and on is well target significant IND of it's studies defined with enabling ducts. ImmTOR program need cholangitis. is liver advancing through a platform. initial is an autoimmune the immune the Our that antigen, tolerance autoimmune bile chronic, It to leads small progressive medical our application disorder PBC a and

and in find We this expect additional we PBC on in half an to look later second updates to program year. the providing XXXX forward IND this of

turn over XXXX. first ended our through Brad March I'll quarter run the Brad? results Now, XX, the call to for financial to

compares operating as as sufficient of capitalized. XXXX under the the the XXXX. December was for the the XX, quarter Revenue DISSOLVE Net of a as in to million, our supply shipment million, million the the agreement quarter XXXX, compared same XXXX phase our million period of Carsten. of clinical first liquidity for We meet well recognition quarter XX.X of million XXXX, operating in for the period liquidity used XXXX. first XXX.X quarter clinical Thanks XX for in the the million for XXXX. remain requirements of which were We with of second the same XX.X expenses from XX.X March into recognized be of July will was revenue position had XXXX, We program. activities was costs of liquidity which incurred to recognized XXX.X no to began in believe cash in Sobi, XX, million compared Revenue for to reimbursement period for resulting license XX.X first XXXX. X Research and development same and compared XXXX.

by preclinical XX, ended discovery clinical and professional first salaries AskBio expenses million and consulting X.X reduction expenses the expenses. result was XXXX, the reduced for increase period a the General quarter was for for offset XXXX in there quarterly and XXXX. in with and expense for The March compares program which of the were expenses of for quarter travel and increase programs. by administrative expense SEL-XXX Collaboration, During in the X.X million, the same an offset for fees

loss a XX.X call XXXX. net hand Carsten? share, to XXXX, I'll $X.XX first or we reported for period the Carsten. million, net or same XX.X a in million, compared the For loss share of quarter back to over a of a $X.XX now the

Brad. you, Thank

for for simultaneous global been as Affairs. programs became Gene for Zolgensma AveXis and Therapies. Japan, President AVXS-XXX led Regulatory fantastic support a regulatory multiple the U.S., XXXX Officer. to gene in senior implementation LIVEKINDLY Spinal announce therapy. People business gene including and Muscular for of Satish AVXS-XXX of a human strategy Dr. a and registration, SMA has to therapy team, pleased as to Vice Partner plant-based Kristen foods Otsuka capacity CEO.works. company, the Satish share. experience also as recently, Chief Pharmaceuticals. President addition also have Tripathi the the We Collective, to in of has Selecta high She for addition consulting corporate Senior held company. of Kristen Regulatory Baldwin growth was Novartis product the to the to most submissions Canada, brings is which at you to of addition He recently updates resources Atrophy Most excited We're which XX she as approved as know HR Chief of as roles Global therapy Europe, the advance in We're and announce served the He for Bayer Vice Affairs at we Brazil. People and dual in as few a Officer gene years

stepping May Finally, Selecta as Brad pursue for will down another be CFO opportunity. effective XX to

many thank to we're him like his to go, Although disappointed him personally contributions Selecta. to see I'd for

a have our a President a for team Finance. of search sound Donohue strong and for We successor financial and underway [in Controller, to Vice have Ann have recently promoted finance footing],

excited As supportive mentioned we're gratitude our platform. and investigators, questions. to earlier, patients Selecta. I'd in take great to that, our reiterating extremely confidence including families, and their and who've been company With way, to continued our by at the our our happy team we're growth about along the the conclude our of like people many

first Kristen with Cantor the And Instructions] [Operator go ahead. Fitzgerald. from Please Kluska comes question

your Thanks questions new for taking in you everybody. best and wishes the morning, Good endeavor. Brad to

to to there be was, researchers there in about authors the The disease might test in which candidates a therapy with on I recently, as of had diseases, carbon medicine for a dioxide thought the for indication, are first surgery breath outcomes ask you ways in of which determine you've still question based or study this could see some rare the learning of about by evaluate clinical could exhaled severity wanted the measuring if where noted for to case I was course, was indication? approach gene genetics useful if published most more be MMA

a Yeah, question. that's thanks, Kris, great

clinical the also can specifically you share trial, our we're and We aware I'll maybe at have Peter? haven't Peter initial well of. thoughts, guided this study, but on detail in least which on comment

Thank Yes. you, that Kristen, for question.

authors program. our primary who and the study that our on the, study collaborators at NIH fact, performed that are the MMA In of

clinical and MMA our paper. haven't we trial, analysis first propionaldehyde of a is with trial. we guided at Manoli, who propionic acid, breath of of test with done in the the the the NIH author structure Dr. Dr. the clinical program, you Chuck, be As the Venditti oxidation on That will Chuck evaluate Irini exact on will know, a although biomarkers that that part be

now, asked this the different question, then the collaborators actually VTX-XXX Vivet’s ImmTOR few And where starting at a the to therapy consider potential doses think you. a thoughts at ImmTOR, very along and gene were Thank ask in I terms indications, the how you and the be re-dosing, of presentation especially looking evaluated have you with I as data noted, wanted was as narrow around your they of therapeutic week, to of inform to in ASGCT some indications help during potentially Vivet now might had when could across like which window when initially intervene? with these

I’ll confirming reconfirms pediatric the what Kei, let study, data set. that that I'll disorders. you Kei answer data in let on re-dosing we previous see of, to we've data. need in but And really Yeah, comment that set kind this especially know, specifically obviously, seen data specifically the for

Yeah, they're vary children respect the for underlying metabolic be With when think of and saw the in, re-dosing with dose they the go Sure. examples I the want would using the actually in will of diseases Thank you juvenile enable to was again, correction treat timing, because initial you defect the animals. to by to to but it to you, of this of between as was that diseases of ImmTOR one question in where vector diseases, those that different And dosing to clearly, animal of Carsten. an that the want I initially enabled was severity able repeat when only wasn't best sufficient. ImmTOR metabolic a young. thought many somewhat

Great, thank you.

The next with William from Please Blair. question Prasad comes ahead. Raju go

disorders? clarity kind they you guide follow-up. to models? I you are that it the the understanding Thanks if able of the the your from more of ImmTOR specific question. for taking I relates where know disease neuromuscular payment that for, any And And studies data wanted to, as have on received could from you milestone ImmTOR? provide it Was a kind of using utilize to collaboration to Thanks. Sarepta

will Yes, can disease question. neuromuscular this, is be model. what received And it's with we a share payment the good also we unfortunately million it is but milestone ImmTOR observed. can’t detailed a Raju, details confirm for can set, Raju, but or definitely from learn details very study, Yeah, it on set, a of in preclinical we and we unfortunately, obviously, a encouraging X I we but data data

course the just you to it's then Great, important related important, kind follow-on of be thanks. for can maybe over [I’ll talk you. those disorders some see given think question you understand, to of, sequentially or initially candidates, kind AAV or, dose to ImmTOR there. obviously, multiple the the you a what hearing and asked re-dosed, ImmTOR with because just know, you earlier, trying amount antibodies. the your therapeutic But the are in say, years, it's the maybe MMA, re-doses just lead of thoughts And in] every of interested I you little mitigate OTC potential of of know, of kind where on – you've but you be let's paradigm five to neutralizing bit to to pediatric nuances shown I'm kind know, Thank about X general, know,

to kids [indiscernible] diseases in the to liver know, younger see obviously and dosing we liver every that, get unmet on mean, Yeah. therapy, grows the always where Obviously, [BioMarin] That's we gene adult we really adulthood. treated, the across the from the immediate need, see birth to might while data, AAV great we obviously right. pediatric up apart XX-fold years an I question. know need, a refer you the be indications, based

also DMD, So, they redoes be high, their need you and and disorders neuromuscular muscle times, DMD, know, to know to potentially but multiple there's in poised a need like we as well. re-dosed those to grows tissue

What pediatric liver between select said I the the as timing need and know, the definitely pursuing Kei And, the the disease. across we're So, as MMA you is based the diseases a severity really see think OTC. field. specifically, it disease earlier, frequency, company but on and with of depends dosing we and

The comes from with ahead. next Canaccord. go Newman Please John question

my Hi taking Thanks Good morning. question. guys. for

program, manufacturing a us has learn And Just wondered for you'll been had could success? the you little Thanks. done comment using to related potentially other to for confirm looking be wondered line third-party you Also bit if bit could should a that what gene a in just approaches question with regarding data give ImmTOR? of more due on just to those MMA, curious compared a color anything if the just we study there? lower dose therapy SEL-XXX delay on top if what from gene

Thanks, John.

guided it's or study a we're tolerability. we at are looking but on detail in what fair phase the biomarkers think of talk on some deficiency but maybe Kei to So, But at the Peter looking of biomarkers program, bit haven't obviously a I the disease, more and it's let off I’ll X/X disease. the say, OTC mainly safety

Peter. John, the which that is this question, which XXX program, referring that. the XXX the in you have capsule? might missed OTCD I Were program, is or the is to empty

just was sorry that I Sure, just study? the focus what from capsid the the what to about empty takeaways should that. kind be study, be, should of referring actually

a in AAVX ImmTOR order of antibodies, best as dose Sure. of and the to of anti- you Well, neutralizing otherwise. doses know, both capsule with inhibition dose the empty identify escalating empty for is study capsid, of ImmTOR

we've as identifying study and time same of in non-human it's or the try whether humans a months and three the the in we over animals we of antibody be primates see seen plus production. period effects on to see where a will antibodies So, increase in

to reduction regard whether really in With therapy is transgene a of the identify able the not empty goal. ImmTOR, gene vector because a that's question there's potentially, the in primary capsid. think would potential we to your the as we dosing that's be a for about So, not relevant

So, the we transgene empty really can't assess the in transduction capsid program. of

So, and therapy, very AAVX neutralizing good surrogate able a the be for therapy. know, as antibodies primary for AAVX criteria to able a neutralizing AAVX if at then gene look that's antibodies, inhibit to goal we to that is being you because redoes to gene being will redoes

got Yeah, I misunderstood your question, thanks, Peter. And John, messed up program's apologies here. if the

the manufacturing issue. on Just

by more source to not you obviously to that component You we you and to we can obviously, lot IND the and is to a with third-party early the from file know, get I at of year. the And know, on not fact year. the related think there's working NIH share than with progressing the end filing a related a the started believe know, the issue work trial the the next IND ImmTOR,

believe on track you we're filing by of a we end the that, So, for know, year. the

Great, you. thank

Please Securities. question next Difei The Mizuho Yang from ahead. go comes with

our Hi, good thanks and morning, question. for taking

So, we have two.

first number is at would liver entire the ImmTOR beyond around so gene to a therapy? The on gene manufacturing directed bring have level, two therapy, AAV some the gene to on in-house? that liver only consider capability very Question therapy do manufacturing you they go just therapy, asset one is Thank AAV or directed for ImmTOR, you. the vector have is high think point you really do you fully-owned the gene for now

question. Good Yeah. Difei. Thanks,

start body. all know, progressing so in ImmTOR there's to been you believe, date where any but the no data as this We induce evidence, that the that you proximity. done it modalities, nicely good reason to with in only we all entire is has strongest liver, liver we details. know we also see you like also know, to the through have diseases, exploring But diseases. we to well. based disorders, don't should other limited limitation gene migrate, obviously, the disclose be we you accumulates directed have liver we as we But And we there's we only. Obviously, work specific We're far, can’t why the Difei, in liver so have, you know, you know, as neuromuscular based [indiscernible] with, a which unfortunate, as the So, want therapy. liver in know, have

with does disorders, know, it all on that So, as you the you neuromuscular so other far good have we've know, diseases, as based is partnerships, Sarepta we encouraging. such so also, that theoretical, know, and explore but are in we liver far a what to diseases, other could strategically work is you we, know, you generated modalities, but, seen approach this very pursuing evidence like

Thank you.

yeah. question, second the And

is, we that, manufacturing ImmTOR is do as question have you don't tolerance the our second and know, you therapy been you of very company, The we know, manufacturing a ourselves see strength we gene know, the immune biology. specific

don't plans point, we significant the manufacturing So, have to at in-house. Since we bring bring this this you requires, plans know, to have to up, set manufacturing this in-house. currently capital don't

very you, helpful. Thank

Chad The next Needham Messer Please from ahead. come with go Company. question & will

morning. Right, me his Thanks thanks. for my my future endeavor. let in wishes best add taking Good And question. to Brad

beginning? to clinic? learn how on you need or, Just XXX capsid way to that I XXX, that's, the get get a mean, this we're sense doing know you principle work you you for for therapy going to clinic you wondering any data XXX other much be do going in two finding to integration I program, useful therapy programs the when for think of are the the sort idea both be clever is, any can gene have some done a and study, at empty and, of might just how if gene into establishing, know, from you the have which XXX we know, dose those much applied lot so

limited, somewhat as transgene. and no one capsid we're start Peter know, there's Obviously, it dose well. about answer Yeah, the and but I'll let we're giving excited only since study, you empty is I'll

will will necessarily ImmTOR, but for therapy with products. the So, for help not it help, not definitely finding gene it dose

prevention the of looking we each seen that I empty ImmTOR. disease you that's something neutralizing capsid study. of we're the see, establish have to as obviously is so that's for So, have at we benefits And, model. where two antibodies, know, One think far you

be see higher The dose benefit, empty something MMA first we the for, and program. we we'll where in that will is, of in the transgene, obviously, OTC looking see the That's obviously study. second expression not a capsid

So, of dose your the product. but therapy in do to question, a those we'll a answer indications get dose gene finding to to I have to think therapeutic both

a then be were – maybe the to important there just level we I to is it just should And even a question be reduction obviously anything we enough, an below like? Is prevention significant mean, what know these follow-up is eat? antibody little reduction on asking, don't I'm that it know for? formation. see statistically looks know looking reduction empty earlier formation you bit antibody Right. should we keeping an on a program, or – looking to detection they and is I know, of enough to capsid there if meaningful we know a Do

see Obviously, is, indication there’s non-human good of to seen saw have mean, as in low like most five. obviously. is efficacy we’d the non-human I primate data, we very to of low study think look if look three the very I our animals in monthly antibodies that's ImmTOR, doses like. we Yeah, a you at a below titers one And with primate kind good what often what titers. could Like question,

example, the over And of got XXXX. the then because, want we dose that to kind some lower the hundreds see. at titers, the you of you have in down in time. only also up are can in these levels ImmTOR, immediately use to hundreds, one to And you still titers titers for titers there’s the the were technologies high saw so which like to success, don't you XXXX, mean, animals, is very we levels. over you I go of XXXX, redoes in those control gets And animals, will the So, a know, [indiscernible], that in other

we’ve So, non-human we're to but similarly that’s you obviously a you see it the kind to be picture we in see, what hoping primate low know, think data. might that's know, titers, I of more that seen differentiated, really

are Okay. more what order you for. differences less looking know, this Maybe hundreds sort lower, certainly, and of like of sounds magnitude or we're

exactly. Yeah,

Thank you.

Selvaraju The from go Ram Please H.C. Wainwright. next question ahead. comes with

taking thanks Boobalan is question. this Selvaraju, and Ram Hi, for my dialing for in

I prepared the So, your highlighted just to that manufacturing remarks. wanted was in follow-up issue on

between is issue with just wondering? AskBio’s MMA-XXX? proceed that you face So, for MMA to any program not there connection the desire and manufacturing I'm

Yeah, – to obviously with a and that's fair not not question. strategic the AskBio They acquisition pursue Bayer. by conducted they're a decided MMA. And of review related

You the know, independent licensing it's know, agreement manufacturing important What's a strategic is a not relationships. of you unchanged. it's note focus, to have is is One still, but relationship two issue. the We the for capsid disease lead program indications in Pompe And strategic plan we're empty and we together. we to at undisclosed the the a conducting number that the obviously of collaboration where still study obviously, together have pursue moment.

Understood.

expect IND XXXX, the will FDA so discussion? with meeting key of by take stage center when the pre-IND So, assuming And to the you do that MMA-XXX what on track for happen? end elements you're during

Yeah.

planned process the of we now really share, IND. can the haven't but guided in Peter Peter? that kind have So, maybe detail, to we file

this to OTCD just clarify, the Yes, program? on is

IND’s MMA-XXX, for for the by the is of XXXX. end plan this – the No,

sorry. Oh, understand. see. I'm I I

First enabling and the been conducted of IND all, analyzed. studies have

you really manufacturing the in we're the so, information the process putting of And the know, together timeline. IND, now with additional of

of feel that to able confident the submit year end the this IND we'll by And we fourth the so, by be very quarter.

from final me. One Understood.

COVID to color So, of due the issues provide of how persistence enrollment the pandemic? Are the for could trial DISSOLVE SEL-XXX? these on is progressing ongoing additional you

Peter, ahead, – happy yeah. we're think I go

last the missed I Yeah. part.

broke bit. You were a enrollment asking But little the up about DISSOLVE you the trials. progress of of the

well. They the by top in on of results this half DISSOLVE XXXX. line beginning of enrollment year. for I enrollment started and second of report we DISSOLVE in mentioned, September Carsten the able to in As progressing the being And of terms II schedule are very

from me. Thanks that's Okay, it much. so

with Derek go Archila Stifel. Please comes next ahead. The question from

Hey, thanks, Derek. on have left. just Thanks Ben questions but is guys. my for my guess, asked, been taking of I one This for call. Most

XXX? for going have missed I if sorry how data you're but about the you And thought to this, present

– have I markers this, I XX. healthy the day Yeah, And that's but fourth what's well. fourth mean, we're the going at I volunteers. number in therapy, as right in I important we so be around be dose really XX, mean, don't quarter. at, adding in the the really think as clinic into we indications. the And I focus. of antibodies see that's to And but gene of mean, XX, quarter. we're looking of obviously, the to of these study. the ImmTOR looking it's And what's binary then and we available we'll think going a really other the kind primarily, a know, levels basically show what I mean, data of at to primarily will adult what’s I think are kind in go important pediatric evidence we're to

learning’s is going So, obviously, from study, we the the of to learning’s be we're there'll important this binary necessarily be about course. excited think a study, but but don't

that? Okay. PR at if to, like a or And thought a have conference just you something guys you're know, you or going present issue

likely, you the a a to call the on around Yeah. of I some potentially press to we'll [as well as give data bound [we're present past. done] release issue conference], and detailed mean, will know, conference, in color we as course, medical be not] [medical but a at to a the data have

Okay, for the taking guys. awesome. Thanks us. it question, That's for

[Derek]. Thanks

back question-and-answer this over remarks. the questions, As turn Carsten CEO to now closing would conference our for Carsten? Brunn, like to we have concludes any no session. Selecta’s I further

Thank the to many thank stay everyone operator us healthy. this you. this Yeah. today's Please for you, safe concludes joined questions. and And who Thank and you call. morning

you The conference attending today's for is Thank presentation. concluded. now

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