PDS Biotechnology (PDSB) 13 May 212021 Q1 Earnings call transcript

Hello, and welcome to the PDS Biotechnology First Quarter 2021 Earnings Call and Webcast. [Operator Instructions].

As a reminder, this conference is being recorded. It's now my pleasure to turn the call over to Deanne Randolph. Please go ahead.

to Audio First Webcast. welcome Conference XXXX and and Call morning, PDS Quarter Biotechnology's Earnings Good With today me are Dr. Frank Bedu-Addo, Dr. Chief Executive Officer; B. Lauren Chief Dr. and Medical Wood, Officer; Seth Financial Van Voorhees, Chief Officer. financial Biotech XXXX. XX, press morning, ended issued this the quarter PDS release Earlier announcing results for March a report to with quarterly the today. Form encourage SEC PDS everyone as as will the later read We XX-Q, release which press well Biotech's on filed be PDS later Biotech's report The website pdsbiotech.com, company's available press quarterly posted release and will on be today. is the at

this future addition, being through In call conference webcast be the is will and archived company's reference. website there for

Before safe we conference material results comments call differ like the provisions Securities Private harbor securities the Act caution this made forward-looking and company's include actual listeners federal statements within of XXXX. involve the begin, that statements I Reform These would forward-looking will meaning risks Litigation during the by of may uncertainties, including management and of to laws, materially.

to the to reflect or company as the morning's circumstances release, SEC including Except carefully take events these of among factors refer operations those and to and update related that of place noted of press call place listeners undertakes may XXXX. operations any Biotech's information note XX, such risk investors no not by required contains reliance in May filings. to date to to this conference call. as broadcast, law, company's PDS are this the live the accurate date that statements. financial statements this have and after operations, For potential pandemic a that cautioned the or statement these only company's is the business of and forward-looking consider Please factors, on undue the forward-looking such risks discussion content revise others, on related challenges, results obligation COVID-XX, time-sensitive the impact including, please of Investors, other the respond the urged to are to ability in the of evaluating

discussion for today's to Bedu-Addo. to that, Following turn would I Dr. prepared now over call remarks, With session. question-and-answer will Frank? a the open like Frank we the

Thank further our progress spoke year making been are clinical Biotech. everyone Phase has clinical clinical to quarter to Since PDS call our The II so exciting continued initiatives ongoing pipeline preclinical as fourth thanks Versamune-based an Deanne, key on development today. XXXX for with our as our far to immuno-oncology last company has our you, and trials and pipeline made significant you through of we advance with progress we trials. call, products. we on with have well the

Cancer have cancers. that lead least a National more which are And benchmark or being X XX% X efficacy immunotherapies, Institute-led results bintrafusp may XX% and this agents of studied evaluated the over date, to in EMD clinical-stage at which PDSXXXX, study doubling is Phase population least and is anal, needed. a advanced This refractory increase desperately as of HPV-associated positive neck, vaginal II advanced bifunctional refractive is benchmark cancer. and response and these these you This in combination in experimental trial regression. cytokine. advanced MXXXX, This which head IL-XX checkpoint population cancers. more PDSXXXX include the Cancer patient tumor reported an at the achieved HPVXX this relapsed first novel in seen NHS January, HPV-associated this trials trials represents therapies combination Serono is of triple preliminary patients approximates immuno National currently a its is is rates well-documented candidate, with announced and X MXXXX, a recall, or standard-of-care which which immunotherapeutic achieving In difficult-to-treat triple the population checkpoint most inhibitor clinical in of bintrafusp being is oncology most X refractory population a we in or with alfa vulva cervical, a patients, or of The evaluating of Our Institute-led with promising alfa. with inhibitors

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second Our trial the is VERSATILE-XXX trial. Biotech-initiated PDS

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and Now based CIN in with PDSXXXX on this risk. T-cell to believe we mitigate lesions regression monotherapy development the I combine PDSXXXX observed with the observed respect standard-of-care Phase that FDA-approved of trial, efficacy to ability clinical CDX of induction the

well clear strategy benefits target we of markets without significantly believe market believe this discuss over also with of HPV-associated if alone, In present briefly clinical in a standard-of-care, for evaluating positions path combination. addition, that for toxicity, and as more initial all commercial as PDSXXXX. rapid us the PDSXXXX enhanced After will cancers studies expansion. rapid we commercialization to approval, the the penetration demonstrate the compounding I'll and PDSXXXX our combining standard-of-care

been to and silent cancers increasing of large the use There these to also the year majority first currently next incidents caused of the present the has epidemic to rise. HPV-associated by has HPV-associated incidences which United alone. some every As steadily despite introduced rapidly several in preventive these of expected of States is cancer, due cancers market most cancers as decades concern, HPV. these are as are for about be HPV Anal of of the XX,XXX a the vast may and in XXXX. on cancer neck example, a cancer critical already this incidents for type to By medical head the continue continues cancer. far, of recently new you the oncogenic is increasing. HPVXX, some is described been remain HPV cancer robust know, vaccines,

cancers, include that and development provide survival TARP overview estimated AML or continued human a is prostate rates. of for leading in almost known the XX% known patients, our to T-A-R-P. TARP is Cancer breast conducted frame prostate well a reading peptides In than by highly Institute goal Development myeloid Lab in developed clinical CRADA, anticipate growth that platform effectively and breast to associated April effectively T-cells and work to tumor-specific or and the to of to less tumor tumors. our type of antigen processes in TARP technology the ability the Cancer generate in National XXX% strongly preclinical of Biology combines or ability deadly solid studies also immunogenic in or highly States, with Institute. with in the enhance the MUCX-specific in the as Biotech, important studies protein clinic the alternate the Research Versamune's may into cancer In CDX protein, preclinical in as PDSXXXX identified with PDS is the proprietary wide as the The and National PDSXXXX. a humans, and including It National at were Institute the has Cooperative Biotech, strong acute In was Immunology I'll interferon disease more PDSXXXX, conducted with protein PDSXXXX ability reduction expressing majority Next, cancer-associated to immunological of preclinical immunogenic Cancer derived CDX These combines In AML. clinical gamma TARP-specific as MUCX oncology killer Tumor and of year the of targeting Versamune tumor and XXXX, novel as breast, patients, an T-cell peptides particularly each was found known rate announced significant has by antigen is United proprietary novel is from is colorectal, completed, our at with the demonstrated types, be pathway, with leukemia to Also vivo of demonstrated which study pipeline. cancers expressed due the PDS T-cells. receptor ovarian vivo prostate associated present of a killer technology MUCX. late including the we to the In PDSXXXX next T-cells. we treat lung XX%. dramatically activate the move on I vivo is cancers. PDSXXXX powerful of the induction of year. been development a studies MUCX promote potential tumor of Versamune in X-year TARP PDSXXXX signaling XXX,XXX cancers expansion AML. to CDX the cancers the to of XX% range Agreement, and

of planned part preclinical PDSXXXX of ahead clinical clinical Institute, agents combination Cancer the next National of institute collaboration performing our immunotherapeutic As formulation with the studies with the of study is year. the human other

Dr. antigen that network to Brazil. Professor of also of awarded of and indicated the the development from our Biotech, of the influenza infectious that year preclinical is now School from initiated was a pipeline. and Brazil. I/II Innovation announced will USD PDSXXXX, We flu MCTI, received partnership XX collaborator, before preclinical grant of novel Biotechnology Versamune COVID-XX in clinical March, formulation clinical this end our ANVISA up move on of the the the effective by broadly of including pandemic earlier year. for to approximately a a from to they Farmacore support will with vaccine University specifically universal longer-lasting in We million those and This those NIAID that disease antigens in commercialization and calendar which have strains. Ministry centers to human studies of to in PDS performing Technology discussions Blanver this the NIAID of Biotech Jerold strains of year. Versamune year of Woodward for end to Brazil, collaborative studies the to a fund of to Science, the Phase progress trial of PDS now consisting COVID-XX the program, begin Brazil. announced and PDS we clinical the plan commitment program with Farmacore and on the the the be I'll Medicine multiple a develop combines influenza results development active consortium be Kentucky clinical is Versamune-based in vaccine durable, vaccine, with the vaccine. program. Farmacore in in combined PDS Woodward last the partner, protective to support Moving vaccine to against the vaccine innovation for trial Biotech responsible Farmacore manufacture the more available influenza, Biotech's providing anticipate

all like Now oncology our for provide I'd more -- who to for call Wood, Dr. to will clinical both comprehensive pass updates our Lauren? oncology Lauren programs. the

this And again, once you Frank. you, morning. joining thanks all us to Thank of for

alfa, with MXXXX, made the known to IL-XX X of oncology also encouraging quarter cytokine in independent significant XXXX Frank the of oncology antibody As the T-cell to into the enhance checkpoint COVID ongoing studies This and have we and our detailed, progress by fourth our despite of initial just strong between an since a NCI, first-in-class approval preclinical agents. bintrafusp facilitate PDSXXXX conducted study inhibitor the conjugated entry showed than The with combination bifunctional in response local a our study designed synergy projected MXXXX, was and investigator-initiated I'll clinical microenvironment cytokine June in the pipeline faster begin which trials. initiated pandemic. call. with NCI-led was animal result as tumor

compared treatment of with these published when of of and or The Specifically, combination issue announced least standard benchmark. agents antitumor of We or effective its resulted toxicities the indicated combination known this the observation care initial patients for the X and JITC. findings year the tumor in the previously preclinical were also to this more activity triple in enhanced its dual the patient population of to triple objective Journal details who outcomes initial the Cancer, as studies response burden of agents. ImmunoTherapy that of X dose-limiting initial fewer achieved XXXX was with patients more compared were these than triple in X reducing both individual that X to study XXX% meaning that in efficacy investigator-led the initial the Xx date. in last benchmark, combination observed received combinations June at more, in safety first The

As a therapies to prior who have reminder, to difficult to in objective this advanced cancer of these HPV XX% date is responses the before Many XX%. patient very multiple The population NCI-led in patients is treat. treatments have enrolling best trial. failed failed patients reported

bar in XX% significantly. a threshold, reported few this checkpoint generally trial patients of from With principal the options treatment the added in more inhibitor Advanced effectiveness at inhibitors, Julius of data upcoming cancer will triple who rates American Strauss, efficacy study patients objective mature has have the arm NCI this Dr. the response the XX%. Meeting therapy the XXXX Annual inhibitor the presenting achievement to checkpoint investigator are addition, of initial failed combination the thrilled who, left. therapy of meeting, have very oral ASCO early this raising The the to as highest Society presentation the in accepted be have preeminent checkpoint of date explore second we to failed have of in learn have to Clinical were HPV who the arguably the to those Oncology population failed part that program. oncology main for June. is data been world's trial and

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the Now VERSATILE-XXX study. to PDS-sponsored on

enrollment discussed progress, Frank currently activation we sites sites enrollment. his VERSATILE-XXX remarks, As and to to and continues of have XX during open in

will is will the endpoint safety of initiation data ORR evaluating patients. treatment. be Dr. As for Center, to safety a investigator the VERSATILE-XXX Neck cohort to in XX of half treatment months a Oncology Jared leading School of on principal The have or be the We involved XXXX. a study's planned and between estimate Weiss response and to of serves reminder, lead Carolina the of thrilled North quarter and study. Weiss, There University XX XXXX or Comprehensive rate we're initial patients analysis, The fourth primary objective interim Dr. the who response the at this of sometime following and the at of combination first of of X Medicine, XX the available assess Section Lineberger in is as the formal Chief subjects Head Thoracic first Cancer

locally combination investigate also Moving the approximately now as the Phase and preliminary chemoradiotherapy with enroll combination MD of known IMMUNOCERV clinical standard-of-care cancer, will oncologic in treatment XX safety and trial of outcomes. of Anderson-led study II PDSXXXX to patients the This the advanced study. cervical for

conducted tumor-targeting anticipate biomarkers outcomes well activate Professor Center. In study immune PhD immune tissue. patients of immune we and and that in both believe killer provide the the T-cells demonstrated other Associate Ann response PDSXXXX's be available data at Anderson being and as priming system tumor addition, Radiation with improved will XXXX. to MD PDSXXXX and Dr. cervical to blood as XXXX between Preliminary may it ability this by trial, Oncology induce by We is of Klopp will sometime cancer. early The MD QX from Cancer explore

of the Patients receive apart. infectious and trial PDSXXXX, disease of XXX in the program and study If our COVID-XX efficacy Moving approximately Phase immunogenicity randomized, weeks clinical participants X will will now evaluate planned preliminary in ANVISA, the I/II approved PDSXXXX X by our vaccine, to study of adults. safety, and vaccine age conducted XX vaccine. group. healthy than doses administered placebo-controlled PDSXXXX. will will Initial based groups. be following of tested age group XX high-dose second be dose dose age be and with greater or placebo on evaluations XX an XX years receipt efficacy Low to of starting a will of in of these days of age divided the each Study

the as killer we're safety, characterize SARS-CoV-X. directed to SARS-CoV-X-specific T-cells helper of CDX CDX validate and seeking against and Specifically, well antibodies neutralizing as reactogenicity induction

if react will be meeting Farmacore review trial partner, results. I/II Brazilian on Phase effort with a the ANVISA basis MCTI, confirm up I/II as co-development to effectiveness both by PDSXXXX's possible to establishes Phase Phase from to a scale efficacy, to officials funds Our study an in to in infection. the and data Contingent regulatory are regular safety III of quickly release ongoing from the into prepared upon COVID-XX we successfully as trial preventing

T-cell design is protection being analyses Seth? induction against To the ongoing viral Seth potentially first virus virus. of now One quarter the of Voorhees, call variance memory, immune those Versamune Phase T-cell present are conserved PDSXXXX mutations. that in Van the and to concerns. provide XXXX response to the III assessment turn like long-term is generate of the robust in financials. Dr. I CFO, to The to circulating an review of regions our regions of serve may stable specifically our against induce efficacy over despite would SARS-CoV-X against designed variants remain the currently by to planned

Thank like our to financial quarter XX, everyone. a to you, the our for morning, discussion ending I'd good turn results XXXX. review March of Lauren, and

net loss diluted versus or XXXX, approximately $X.X of of period our first net quarter a a quarter for to million during loss to XXXX and same the $X million basic expenses of the $X.XX loss a in operations for XXXX. of 'XX, of million per fiscal compared was per basic Research the of approximately $X diluted of loss from decrease a $X.X million $X quarter first XXXX, first as $X.XX XX%. quarter first development and share approximately the For in totaled the million approximately share or in compared and

For quarter cash to the decrease for we a period XXXX, administrative XX%. From perspective, in general approximately $X.X same $X.X million of flow the approximately approximately $X.X first or XXXX, were expenses and of a compared $XX.X XXXX cash balance million. first approximately of the started in with with cash the our approximately of us million of of million approximately used and in the $XX $X.X XXXX, at end period leaving quarter operations million a million

strategy cash utilizes allows cash keep develop as us relatively out-licensing our sources business agreements. first development oncology our products financing through low This non-dilutive Our or to results. by our on infectious capital demonstrated burn we the while levels programs, at from continuing quarter to disease the markets strategy our raised

of X which clinical at involve underway, X low of commercial Versamune from ownership the products In maintaining the the being currently of investigator-sponsored financial studies, rights XXX% commitment oncology levels trials, addition, of the time, are same investigated. PDS, while

And resources consequence, in turn most a our today. final manner utilize are to for like time shareholders. for value you to now we As efficient cash Thank your able remarks. call a to for the Frank to I'd back our create

much, Lauren. Thank and you Seth very

clinical and untiring I partners our begin at an PDS our team stellar team X to our while been expertise clinical Versamune here prepared pipeline next have broader in as our our exciting It is It our the against Biotech as may next our platform our PDSXXXX potential as all their will develop vaccines for build session. like from generated PDS oncology the the our active now to diseases. that at dedication to we and that proof-of-concept we well of generation of pipeline. data us in data would month. their foundation serve successful continuing a ongoing is of trial time Phase range oncology, novel some being II session, clinical Before members Operator, remarks. to programs having significantly trials induce infectious of question-and-answer The thank the allow initial also progressing question-and-answer begin of in our work. with Biotech That preclinical for protection into through Versamune-based please immunotherapies solid cancer concludes

[Operator Instructions].

H.C. Pantginis Our first from Joe question is Wainwright. from today coming

sets of question I guess, very Obviously, start Brazil view this we first. further other T-cells COVID my of potential all reach the the I'd I'm along visibility, freeing sorry, go way. having It's environments a defined the How to I reach it. in And the environment. of have the increase I'm program as intellectual have for in continues with with can India up and thinking a wanted you two questions, specifically dynamic importance -- problems program. is geographical property to platform, and to I about and funding discussions of like to that the And approach and significant volatile vaccines. just very

you So might I a guess I that be reach working on. just want to get sense of geographical potential

to one question. This as one but this visible. challenge, of become matter more I we the it you anticipate, build and of more call for facts is thank Frank. Joe, I think a will program, your the of And wouldn't -- very that Well, it continues up, is that, much the it

importance did mention the today or that's COVID-XX. you that key role is T-cells prevalent things robust key the very of against immunity of becoming One in

T-cell that the of have COVID-XX fact that importantly, of One responses, the things strongly robust provide or very is quite this regions we mentioned conserved demonstrate to be generate virus that that against vaccine the vaccines that of protection broader should develop we believe know and of very becomes therefore, able mutation, very for a important. today can high being the a range virus has generation to because able next often propensity we a

our pipeline. oncology on focus to continue we Now

the We vaccine Farmacore clinical responsibility they but have Brazil, support developing expertise, are in of and trials Versamune human providing performing to this terms the in for specifically.

now of to be terms the in regional by really the in going components, performed Farmacore. So is Brazil trial

that our determine the and available, able will be become data And situation mentioned the there. a see it we the It PDS retains really rush become be And here hopefully, fit, range attributes this continue initial COVID-XX becomes data to from of right achieve would develop will to a have decisions the one critical progresses. a do the called to like to to responses. we once available, So we the think certain for to to of goal as also critical does be vaccine. has second-generation where appropriate COVID-XX data should we does successful are it that a vaccine I global we've start that characteristics. means to evaluate induced However, have is right? immune to What one the market, making vaccine. right isn't develop vaccine go is the things right? from That as available, the broad first of We've as or that must

importantly, as memory only of recognize regions the neutralizing not CDX very CDX as T-cells T-cells So virus. conserved that antibodies, but and well

should and that boxes. be of vaccine situation the these the of it we should And well overcoming very see checks stable, long-term COVID-XX the each cold stability, very importantly, we have it with safe vaccines number should And immune-based diverse today. Secondly, chain be a believe tolerated.

have the today. global is And and really this develop highly we sure to really something that markets is make the goal so that in competitive

the having and That's actually for second-generation reemphasizing And not really helpful. rushing. necessarily thanks

second question It's for thanks My really that do XXXX. with restating parts. has X So again. to

any know The can ASCO. saying, of that till expect might general first types data. the or love you but with scope the sort I of wait translational as I of patients us sort range number well, logistical question, data data just to a and obviously, can on guess, share we'd part is data, the of and be can't of of that presented But we

Sure.

XX. available So by the abstract made be will May on ASCO

looks get data I patients. to won't around you say, wait what to think like. long I to range But insight XX of, be have would the in probably into to the it's So going too XX an

So it midway say, at will through I least, trial. be would approximately the full

So I actually give think into triple the patients. combination some will us data package a robust that insight it be enough going these with in very on good what's would

or in the in goes out challenges impact before the studies discussed And to case, of Got key IO it. comments combination particular then that also and one to Versamune. tease something this studies of your we've you. some asset, a part this second how Got with is the that And prepared of it. is, IO is and

So with the CDX the study of data preclinical done increases the certainly you talked have XXXX, NCI with your as T-cells. regard significant the comments, prepared and part that in about to

again, you I have you to how your these guess, I'd also views, said, but like no view any concept you longer true infiltrate does the and importance I -- that the significant guys and of Like patients out that the given the of risks any this? CDX around, view started boost for about NCI perceived NCI's contribution? does some have teasing with options individual can of and the Now it, tumor the are the T-cells repeat in how

we very good time a something important really that and that's discussing. a No, Right. question, have of lot spent

specifics really the data able be will into the But without questions. trial and we the of that that of hopefully, of so think the the we the be quite weeks, into questions. in to these will lot going data, package the and addresses are delve the really in next And in couple And a some these are deeper questions weeks. I those of answer confident released addressed few was run patient some data way the next much of population

can -- Joe. And I

the very Phase approximately thing is, one responsible the question of cancer add NCI So is this the study is, that And we XX%. for I/II HPV-advanced I'd is trial population. in of the rate of objective like bintrafusp And saw they same strengths to was that alfa monotherapy of that, other your timely. group conducting believe there, the MXXXX response is

same human trial. objective X rates in conducted Phase NHS clinical the immune response trial saw cytokine I that this also the MXXXX, they group IL-XX. of targeting There, Importantly,

X Although, stable X or disease. had patients they do that see

NCI the from be this activity So the uniquely I think the monotherapy the of preliminarily able triple agents, is Group and did the individual investigational efficacy studies apart because immunotherapeutic of positioned PDSXXXX. to they combination evaluate to

of so triple data. to it the therapy superior was combination to And highlighted Clearly, dual combination our again, preclinical in monotherapy during and studies terms dual preclinical comments, as impressive the clearly therapy was combination in was the superior we earlier therapy. quite

what's the have and those will then evaluate been in on potent already context is combination the that. Group with we anticipate And able outcomes well-poised we to documented preclinical be the NCI translational treatment in see of with of outcomes to monotherapy humans context to agents. background, triple the the in So that more that with comment

important what And to it. forward Got a and I real looking is benchmarking think the data.

Instructions]. [Operator

Our next Leland from from question Gershell is coming Oppenheimer.

factors a Congrats you on development, once further of just you what then the sort on data would your more to process approval? ask contemplate of as the regulatory trial that some of XXXX? look a in on all mean, gating see to dose review be question, And and data that any would kind for that see of design? study Or side, VERSATILE a we a there waiting color plus/minus we and question, Are the how like? just file for great Maybe as from off COVID-XX response way? also give complete begin just Would is progress. the there begin? need from ANVISA? to their I kind off to a study, that for survival we're question have for a you teeing it assessment of rate? focused registration Could on would I just of kind wanted KEYTRUDA thoughts us maybe

And address the Lauren, after do want I'll you're the you take VERSATILE question? question. to COVID then done,

Great. Yes.

activity for We II XXXX they agents. the registrational the of was blinded for trials that see definitively of thanks in pretty So of Phase question. statement want clear FDA a They would your a established that trial it randomized that want do the made to to trial. July really see that anticipate randomized

mentioned, going you trial. with response be and a be foremost. would it as without clearly endpoints randomized for KEYTRUDA likely and primary would PDSXXXX rate, so We of objective And first in

response Our XX%. the study rate is target for VERSATILE-XXX objective

people as to more, of PD-LX. those or marker have objective X X study, XX% XX% in response pembrolizumab So rates expression patients approximately X the may tumor study in who is response is of the KEYNOTE-XXX rate is the goal responding. responding of patients. be aware, in X in with to the see adequate X And X VERSATILE-XXX and from which moves patients needle the XX% monotherapy objective

be a So probably overall in the duration key endpoint a the randomized secondary of as response rates also the would be considering. We by outcome, and then be primary that survival. response would trial FDA would X endpoints objective major subsequently believe accompanied those

data Of the course, in the design of driven any trial VERSATILE-XXX objective is be going that's our study. observed by to

data And regulatory with. so most the flexibilities proceed the -- may designs, what to we be yes, But efficient trial pathway believe... adaptive upon there depending be would should for

So COVID? address before does I to your Leland, that question on move

That's helpful, Frank. Please ahead. go

thanks. Okay,

gating to the regarding So get any items going. necessary that trial are

the regulatory package to clinical discussions agency, a process into Versamune manufacturing providing trial. for in with providing is ANVISA. as The that in So of manufacturing that I be Farmacore PDS is in going going ANVISA, the is remarks mentioned of ready to to And antigen final which the is provided be the regarding prior be to their go. documents to used human responsible Versamune. trials. in important that's Completion entering my Farmacore their is final will are

their and the would to done be as them ANVISA, trials, human IMPD to far we clinical those to item light package what as -- that key we as with green So the or the with call in a gating initiate initiate trials. discussions CMC we getting our them allow -- the in FDA, manufacturing given the providing today, clinical package would it understand

you. Got

given be more question, And the if I helpful. lot the versus may. that potential last could Versamune platform your That's bandwidth. done and Okay. then I for one mean a

as of bring may the they to own more may with see be what and become obviously, more bear if strategies aware programs. partnerships third-party with companies of you of with and with others road, the regard of their materialize your core that forward to potential as move Just the curious you to or kind kind sort incorporating deals down platform of able

very No, Yes. that's important.

So reason you much run is our partners. our by may X one actually infectious pretty why And as right? the immuno-oncology, focus programs notice, really primary infectious disease being the that's -- XXX%

Versamune resources We to will all immuno-oncology. products we probably in potentially with the never have develop really develop we need could the

is growth Now in that be of our of important very real be to this very at clinical II going Phase developing is our proof-of-concept for concept, the what's proof products. This of immuno-oncology and a we current believe first expansion concept provide next presented to trials And immuno-oncology. ASCO these terms data going in critical proof rapid month.

which with provide to of second that, a partner anticipate to that is companies start developing we would really springboard so the other plan, And business portion our immunotherapy.

or also, partnerships clinical this really trials be in activating potential combine correct. needs other see utilized II that to with generating more what to what immunotherapies. to some industry is to these absolutely validate suitable currently the is multiple and the proof-of-concept these build could companies of of The antigens potency you programs. develop other with will that in out the T-cell with multiple confirm reflective data have we technology But to very So are Versamune these Phase importantly, said we and immunotherapies companies

the comments. We closing floor session. for reached the our back or like turn I'd over further of to end question-and-answer any to management

PDS an and the company. XXXX interest We much will your for exciting in continued to continue much, very for thank very that you you Biotech. to be Thank all believe year

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For more information company the Thank at about our very please clinical our you visit and trial, pdsbiotech.com. much ongoing website again.

today's conclude does teleconference and webcast. That you. Thank

today. participation for at your have day. time. We you wonderful thank your disconnect may a You line And this