Notable Labs (NTBLQ) 11 May 212021 Q1 Earnings call transcript

Thank you, Sheryl. Good morning, and thank you joining today’s VBL Therapeutics First Quarter 2021 Financial Results and Corporate Update Conference Call. Leading the call this morning will be Prof. Dror Harats, Chief Executive Officer; and Amos Ron, Chief Financial Officer. A press release with the company’s financial results was issued earlier this morning and as available on the Investor Relations page of the company’s website at vblrx.com.

within over this I’d made Litigation conference are XXXX, to call everyone to by amended. Reform turn provisions as Securities intended during Harbor Exchange and that call fall of Act I of to Private Section like management, remind management of XXXX, Before the Safe XXE Securities the the forward-looking of statements Act

and affect other prospects, which statements, forth those involve release risks available the in company’s Form that uncertainties include Annual from set our business As in are on forward-looking may of on looking forward-looking including SEC, XXXX, Any discussed These forward XX, circumstances our filings things not our and the filings XX-F. today’s and date. the statements Report press with the our or after company conference reflect to to website. that these date only of today’s occur update any today’s does May on SEC or as events intend statements made call speak among

As we like the rebroadcast over website. said, remarks. now available that company’s be the on turn Go Q&A the recorded for And being a With and to call have following today’s Prof. audio a I’d session prepared Dror. reminder, call Harats. ahead to will will is

Thank you, Lee, and good morning, everyone.

today’s solid quarter productive for novel gene-therapy for I’m another our pleased XXXX. with our on tumors. Chief that the results financial has lead Financial VBL call been our Ron, me is Amos VB-XXX, continued discuss to Joining quarter Officer, for who program first will for it progress say

have which reshape therapeutics in options. like a standard In on pivotal call, X would to progress ongoing a and to currently focus with setting, potential trial today’s significant limited care to by Phase cancer continue We encouraged two has to of disease in patients cancer, points. ovarian successful, be where I OVAL establish challenging new if the our

international of second the trial and the which the And potential as we prepare study, VB-XXX. position with the for this towards is progress recurrent an Today, as of BLA. had OVAL DSMC of is platinum OVAL successful which The reviews of is for cancer. in recent VBL’s of X three most of February. we Starting registration first reminder study study. success commercialization double-blind OVAL have placebo-controlled cash The resistant in was enabling ovarian hopefully a Phase

by full this high a the at the population safety the looking XXX gave at Following is as well us proceed the year. blended response the next the to the and very study of remain dataset, encouraged to advance going as the review, total as in again achieving enrollment they’re study, continue two-third forward OVAL light well now third the we rate in provide of trial We look view profile conference June. to the this we DSMC by in OVAL intend patients, as and end a planned. on to the quarter the update upcoming year, in green ASCO and of is an Enrollment through, the DSMC at

VB-XXX study. thank are who advance healthcare the like part patients would patients of and this all taking potential ovarian for to in investigators, professionals, families to excited their benefit important We’re as well and international as the cancer

from mostly market the As first an institutional as well $XX.X for a closed the quarter, company Israel. funds from through injected with the Together of million company, public million that the financial $XX.X XXXX. U.S. warrants that during issued in exercising straightforward the was that raise were and state existing in into we price to mid-April as to of shareholders, we’re at pleased the announce offering additional

and the is $XX until many year potential OVAL and company end XXXX most BLA over now expected importantly, study is position milestones to through from the execute cash million. Our This VB-XXX submission fund the rewarding as the key their in continue appreciate ovarian in confidence forward to objectives. look investors our us, cancer. we to support from our for on continued and strategic We readout

Financial study off to rest financial specifically results on our the the momentum who Officer, on sharing our for of will Amos, through the encouraged and I Ron, and discuss Amos look Amos? we the first significance XXXX. to forward hand over that the have hand Chief upcoming in are updates With continued ongoing during programs. later the to into I I say Before program like advancements additional by of call the conference, we would ASCO that, XXXX the and call the to experienced We our XXXX quarter. VB-XXX OVAL will

Dror. Thank everyone. morning, you, Good

bank of capital we bank working short-term deposits, XX, totaling $XX.X and deposits cash, XXXX, March restricted and million $XX.X of equivalents, million. had As cash

As approximately Dror which mentioned, public million. QX, early of completed rated warrants, proceeds stock of $XX.X we the pre-funded gross in common offering is and

above restrictions ordinary stock For the company’s those designated ability to our investors on the voting without additional In unfamiliar, have capital. with shares threshold of own the pre-funded allow practice, to securities are warrants to invest equivalent that term rights. class ownership a the pre-funded that warrants,

was period equivalents quarter We morning bank I year for year. operator that operating Q&A XXXX. the per for requirements sufficient will and find million $X.X XXXX. the expenditure expect Revenues and quarter $X.X expenses our was will same were to end And portion to be to until first expense cash short-term of $X.X loss the deposits capital share million and return the cash to million to and call. $X.X the is $X.X period the call Research first million in compared compared $X.X the for compared expenses $XXX,XXX period XXXX. in for in compared was the quarter development per or administrative for quarter in last XXXX. comparable same in this million million the General about that, the $X.XX or comprehensive $X.XX net share to $XXX,XXX finally and back With for

Thank is first with question you. [Operator Instructions] proceed. Kevin Oppenheimer. DeGeeter Our from Please

to Dror, Maybe comment with just about, guys. regard to the of a early in quick perfect hear Phase scope therapy. my certain a to be top. the I two ones just to geographic can on follow you then Can hope a enrollment taking bit the commercial little and you for are able general enrollment you incremental at bit talk on make June geographies to about, future enrollment questions then thanks ASCO regulatory and you OVAL the in Hey, where support specifically up. updated X then success some continued uptake least and have

questions. thank you the Kevin, So for

get, of bit of And May the what the a know in XX. abstract to quite what is is meetings can a there always [ph] ASCO you can say meeting. public be you actually going limited we lot The and not As giving at to itself are but And ASCO we’re about should about we sometimes show progress going dull the at tuned the OVAL going able poster we information, of the they where running the a more be will to as that going about are driving that are to ASCO lot to right all the now, trial news we ASCO, study. meaningful be about the we trial. present meeting talk a to abstract

quite going U.S. important and Europe, in enrollment, in looking the Israel four but well. U.S. are geographic and are last centers Europe as in and months, are the to are three all COVID-XX spite of tough two-thirds regard very in in major recruitment the in patients. part the in And recruiting that or for, COVID-XX was we and of that very markets we is we most nevertheless, actually – of the quite the that’s over the of actually both well, is As

to where to get we really are year-end. by we track on So, to be want

is it market, talking the Regarding, and Japan I you about well. guess are

have goes and when some right our have based to We everybody time but experience the take now, open patient we we very well. this remind is that in first stops, And at, I it technology it stop but studies have will announce centers, centers when then a gene-therapy randomized. it always to

some Japan So, as well to patients we in in near future. the see expect

my And think progress update, looking we this an follow-up year on any that Great. I for question study? on then were update of later the up is colorectal,

things is the take say, trials are with going first let the GBM to couple actually we trial other beside OVAL of running about The VB-XXX. opportunity me trial that well. So, a the

things recruiting talk more about information, and course, will, are going we opening of And it. will plan. we to have centers, when according We patients

the can differently system. as in It can immune bring with the study, well. is thing viruses bringing information done the trial, can for major the this are other in a other bring our of we are it the liver the system lot way the In there. immune you going bring evidence know. the where and about you there system gut. The it’s significantly is indeed system bugs we because human organs. the that work In we and are animal gut, we a has into know, tumor know Regarding the have in completely major see we models, looking course, including, that very course, other viruses of we viral being, cancer. to ovarian as if immune is, in Normally, if in it all lung, bring question of and had National In colorectal product, the to a is Cancer we gut And immune organs, we quite that similar and Institute gut. the question actually gut into the

and see depends, decision can later really system we enough, show actually in have be the things look these not biopsy the about on a at Then to NCI changed question. this to is that specimens when recruitment, expecting the tumors the say it they and a the all just will year, meaningful indeed if gut. then on going are We we all actually there get at can to that data slides in this can people immune

actually three to months. results in I to expect would six see the next So,

Thank for you update. the

Kevin. you, Thank

[Operator with from Wainwright. next is proceed. H.C. Please Arthur He Instructions] Our question

Hi This taking Arthur for RK. is everyone. Thanks my for question.

patient the on study, follow-up updated know data when you color just you it could expect the COVID-XX give we if us I some I two-third just wonder study. on from So about to the part? enroll, that could

Arthur, the question. me – let you, So, thank asking for

COVID-XX it how completely we view the make story. me clear Let about

recruit So, two-third I meant is that gene-therapy, over recruited, with COVID-XX. to story the we what difficult our the in are VB-XXX, it’s of that regardless the

major problem two, in pipeline, the The And there with actually is completely antiviral globally, explain is well. but actually working pandemic I’ll program a COVID-XX and in is therapies. And how vaccination why. are Our extremely COVID-XX different. one

the CA can I that our future, in helpful drugs help especially pneumonia are working of the antiviral, not quite to immunity good this that the viruses that drop on And will actually has of And [ph] specific we going far expected. than for more a actually the the COVID-XX. vaccines have most it’s So, monocytes stayed well, VB-XXX drugs and time. in extremely type mutated you that in that have that for well work significant or be that tested. very been believe so

have Right to distract So, from it. at we Israel. the issues chronic this Israel don’t Would that centers, we’re a actually believe trial VBL. effort role and main where when this major might this is inflammatory actually that irrelevant, with to be actually can believe none, the and have has now, is infection started about disease, the that of time extend there collaboration we that will that by we a almost patients but an seen, we have compound will outside some we many remained be not it’s it in programs because that other going country, talk us the that be medical And we we to in be that different. done, viral completely on study will

is Thank us question second any on clarification. my the Thanks. for the the give regarding program you you MOSPDX VB-XXX could the update process? Then

this because we VB-XXX to asking far, But mainly right year. the and seems be well. we will So you so mention this program going toxicology, safe to company we studies, later actually that, have the news it to we it. will are mention will that very actually discuss in finishing the including I announce But IND-enabling thank very is have the on and I drug we And didn’t according when the wanted report, for question. plan, now.

We’re first now XXXX. batch of in the in the beginning the men of clinical production see trial for the middle expect to and in of we

Thank taking question. you my for

turn time. back for like comments. the closing There questions would to this at conference are Prof. to no further Harats over I

a So good us this financial Thank joining on have you. our morning thank for you And all call. day.