Salarius Pharmaceuticals (SLRX) 18 Mar 212020 Q4 Earnings call transcript

Ladies and gentlemen, thank you for standing by, and welcome to Salarius Pharmaceuticals Q4 and Year-end 2020 Financial Results Call. [Operator Instructions]. I would now like to hand the conference over to your host, Jason Rando with Tiberend Strategic Advisors. Sir, please go ahead.

Good afternoon, everyone, and thank you for joining Salarius Pharmaceuticals 2020 Fourth Quarter and Full Year Financial and Corporate Results Call. we Pharmaceuticals the press full X December XXXX, Salarius financial detailing year afternoon, read. XX, for to results months which this issued release a its ended Earlier listeners encourage and the The press the of arma.com. Solaris found News section can release be in a afternoon, Salarius sec.gov. available and which on also filed is Salariuspharma.com XX-K this

differ and go during Salarius' result and events SEC filings us results. David David, CFO, these to obligation new including capital strategy, today's we and Rosenblum, quarter time future achievements allocation risks and and the XXXX spares' due from Before call, and like current disclaims SEC place our should would Salarius Pharmaceuticals Today, Director as operations I to ahead. Salarius fourth beginning events financial including the and Arthur, on expectations, on Salarius' the uncertainties not future development Mark clinical lead With statement. CEO forward-looking plans, call time. making the of update our expectations other the filed in XX-K those of be investigational whether resources. may a seclidemstat, review certain Pharmaceuticals, cash statements, information undue section information, contained reliance and to to our and are quarter we'll future; of vision statements forward-looking or and make and the statements. Risk materially in otherwise. drug with based with circumstances is of who today's future and and statements year on any Pharmaceuticals will make these about about Factors update provide please who regarding the corporate you our statements our an following expectations, full our on detailed fourth its will These for results Actual candidate,

just the of you of our conference achieved the an joining drug Jason. we milestones achieved call all today, areas. so have Salarius. few the of first financing time. growth And for Thank candidate, development have Today's in call to including in who you seclidemstat. past And time significant we are lead weeks, everyone thank highlights in milestones our clinical joining you, In important exciting the

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Thank you, David.

For loss million to share December quarter fourth month a XXXX, $X.X Salarius $X.XX $X.X million loss share XXXX. or XX, and three net the $X.XX per the compared of reported per of diluted and in period a of ended net basic

year, and Increased and costs. the which $X.X decrease loss by from to time revenue and reported grant administrative other This offsetting the a to a in higher $X.X personnel XX, offsets versus costs decreased a share full administrative from and net costs of for of million diluted research an the the onetime loss from more million during absence not resulted year, of expenses in overall resulted loss current to XXXX, costs $X.X months due and basic current the development research per The general from transformation the loss $X.XX same general of income did $X.X million in expenditures. than XXXX, operations the primarily before Salarius' For period. Salarius company public into manufacturing was drug $X.XX reoccur higher per of costs, the which million increase The spend lower prior related period. and compared ended X last or for development in increased million December diluted for $X.X share operations and year. and basic

in and states our sheet The million cash Our cash underwritten sheet both balance raised of the $XX the and exercises. offering strengthened balance common and $XX.X warrants XXXX early over as December stock million XX had sale the company from public company was equivalents. in

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Mark. you, Thank

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Development. Senior Officer; Q&A your portion and President open is the Dr. Nadeem Mark Corporate will questions. Development; of call Rosenblum, for I With Clinical Chief me now the Vice Director Mirza, Joining call of to this Dr. Daniela of that, Santiesteban, Financial

Instructions]. [Operator

of line the from of Ladenburg. Li comes Wangzhi question first Our

in first read Ewing-related question for the cohort, is on creations expansion thanks the progress. My the and And all comprehensive summary sarcoma. update into the

You patient other different mentioned X the myxoid sarcoma. population, liposarcoma and

for type a of clarify, to there a of number want different Just allocation sarcoma mix? patient these or just is

would you you the question. take Mirza, like Thank for to that? Dr.

Yes.

around we patients. of to the around So XX allocated yes, FET-translocated XX could to myxoid so have sarcoma a in and see we that are XX able reason for other signal being XX to And -- we clear activity. liposarcoma

Max on you Got you reason escalation the is dose the liposarcoma, from liposarcoma is about it. portion? saw And the based it myxoid think loyal

advanced escalation. In dose that correct. still solid our tumor, That's undergoing is

I additional We of to we upcoming based a have into have we we go -- and observed seen in confidentiality that we on signal signal to good seen reasons the fact for supplement can't XX patients a submitted strong have that, have an signal. -- this XX and that details, oncology will but observed these and have conference. patients

to the we with a or very on should authorities able for health signal so strong further get potential in steps. fact, And next be development discussion

can Got data the It's for any presentation, kind under color should of even expect patients the what and at I know what color Any this conference or we you year? helpful. embargo but share? timing of terms in further of it. number is later on conference you're

We apologize, won't And was submitted able be in is broad. discuss to... Yes. I can't quite embargo anything Unfortunately, the the or that disclose I abstract.

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I And to Just there sponsor, runway completion And progress color what investigated cash current trials? other be stage all that on completion maybe so for on will of two these or of understand -- what with mid customized. this the of trials fund can those the color the cash time of any relating trials through are kind -- any trials?

would David, like you to take that?

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we the guys And currently plan sufficient cash say emphatically, do. to on. You we have you're now complete yes, can

hope you. I helps So that

line Company. Our comes next of of Aydin Huseynov from Benchmark question the

strong quarter the and the strong with Congratulations year. actually

back to Ewing-related to Ewing I sarcoma So just wanted go and trial. sarcoma

line, in a sarcomas chemotherapy Ewing-related third and and a have you third then for single line. combo have agent So second in you with the

sarcomas sarcoma Ewing-related you and combine did So with just chemo, like why itself? not with to you you decide Ewing did

to like one? that you take would Nadeem,

valid It's a Yes, question. very sure.

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time. we disclose further this combinations So looking but to them are not at as at ready we're well,

regimen. no there treatment sarcoma, different a Regarding patients standard the patients. FET is are those translocation for chemotherapies different treated these to and And with

a with. in a want So it couple failed the translocated patients combine that fat will prior treatments, to chemotherapies significant multiple be the as those patients clinical potential for if we single would following agents, a one lines show single regulatory had we select have difficult -- of of regimens would observed other and approval who activity additional in regulatory a chemotherapy logical be to among same of path single that can similar and a or path And for thinking agent. agent patients activity

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number number? third us success. that line you sarcoma. do standard sarcoma of patients? you what see and overall Where X specific you're Or as those a does there care of can groups there So -- kind the of targeting? remind what third of plus is kind for line survival stands ORR there in Second Ewing-related Is kind of

Yes.

observe, what cannot median I Ewing benchmarks to the can sarcoma. months X disclose are for what what X The tell but for we benchmark is So you around aiming we I are PFS.

but lines median with in median remember, X.X earlier of have myxoid PFS. range we to That's PFS the X treatment of For myxoid liposarcoma, now in have standard failed around patients months. liposarcoma, that the is patients, I

months. For FET benchmark, it I survival as in literature, translocated And what much good clear X much, there's have seen looked we sarcoma, the study, to X median progression-free we our significant these mentioned, point. averages at of have time around no but of observed prolongation we when

do that, go you probably able going of pathway to bit as but envision of study in different a to little Apologies, I'm any trials? those a single-arm again, Ewing-related cohorts sarcoma

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And for solid planning seclidemstat? are apply promising indications tumors, opinion selection forward you see there in Phase the advanced you right. And of biomarker-based that to All kind in work for II? Okay. the your are as most

comment reviewing? like you and biomarkers would currently Daniela, on we're to what

Yes. Happy to.

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already, solid an trial may better tumor of the FET patients that given us So has seclidemstat. to respond indication

preclinical conducting to the That few and report to is months. work mutations ongoing, if identify seclidemstat. next we're addition, in there results work hope to are In sensitizing we

that all chemotherapy as data? if All mentioned appreciate -- effect a And the chemotherapy, the you instead is and I planning trying with right. -- one. to -- share is wouldn't another And there Are I you of you are this chemotherapy last there you why to -- single try to planning trials About effect publish the agent? sorry, additional have the question is that. additive that data? additive of

question. to start you offer the I'll the don't additional our and second why additive address that work, and with data of plans then Daniela, and part the So internal

Yes, happy to.

topotecan been So implicated LSDX and chromatin and it seen And topotecan we damage cyclophosphamide DNA regimen, response. reconfiguration and DNA experiments, DNA the damage effects seclidemstat additivity. or also have more there may damage in to the is agents. well vitro as done The and chemo has its in expose mechanism the with of combining DNA through agents cyclophosphamide and

clinic, some that's point profile in regimen, talks our and that those view. does as continuing chemo a overlapping don't to agent importantly, concerns. moving good But quite we're the feel strategy significant the let with other you concerns of strategy why have strongly also we sarcomas taking topotecan toxicity from with mention of So which safety then about mechanistic overlapping single not Ewing-related pursue the And combining chemo? means cyclophosphamide before David have I'll with a combining of forward and

the follow off achieving in science Aydin, is question. what's the interest the and always So short taken outcomes. most best going and the table. We're try positive for the thanks do in have to of not The anything we answer

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to internally and working is While chemotherapy that on, identify agents choices going our lab we might -- the this decide combination should in what our be head we're best here direction.

the to where back the therapy But we a of the and in how pursuing of answer I having the near now, looking keeping which that directions up see future. So question, right to us, that we're in number on all table. the agent single options sets my we're started fact option takes the like

Equity of Diamond Diamond Our comes from next Research. question Hunter

great Firstly, presentation.

and in David, And what lot you, of that from seclidemstat heard developments. a hematological I've ones positive the of do sort view My team best as to the and driving of malignancies? of is relates the that? management one you what potential question think I

the for thanks would you like Hunter, that? to take question. Daniela,

Hunter. Thanks Yes, the for to. question, happy

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that with within announcing to the manageable few formally safety of in in will advantage we trial pursuing next in trial initiating malignancy terms and the us preclinical an in of model, we're And So coupled the looking indication. more seclidemstat the activity our a think hematological combination our forward in heme space give advantage profile the months.

the you Thank very much, for update. Great. Daniela,

I of you're guess Obviously, has, in financial each the the point? company asked sort stated of positive, you more sort come more company at much acquire other history, and looking maybe -- Is -- are the at question I at So as and covered looking in this and of of can this you assets best stated company it existing would subpopulation may do I stuff populations. are is you before, know but the high to you this. have know inbound? How to very already think we've that point prospects advance its I'm indications at there's new view it on just of you many as have these how -- my for level. this understand position company I of sort next public just do prospects comment is to quarter? trying money so sort that Or Obviously, the don't a on just you since and smaller as you're trying you trials. for this

value for seclidemstat to So for answer We're constantly and I'm will want the is, shareholders. Hunter, first its support of looking best is maximizing for we the that development all and and shareholders. are -- ensure question. The areas potential patients patients for thanks ultimately, we that at create do

by and to moving to we're to about them have approached want assets constantly them. forward. ability And other that, Now said organizations talk assets assisting and advance seen they that our their develop with having us potentially

and full future. happen can't of We'd increase a commit the way calls, evaluate opportunity might what come but lot if and of a take -- that to force. pipeline. with all the were of opportunity lot seclidemstat. foremost, or in about certainly meetings comment And one we first take to along But it's I we another So right or the

No, play have companies you few sort count as where only you of a I'm almost companies them to Absolutely. funding. that can public mean, hands, level a on know, you access just there's high Yes. very because, thinking in epigenetics, I right?

there think opportunities as that in like something to are of hearing I arises? and a So what It is seems it's be if feeling if I lot great guess generally, market you're time a a the whole. would I'm epigenetics when --

It's even outstanding better than an great. I time. an think it's It's outstanding time.

have other are a There's genetic of deal. companies going -- other developing We after there drugs epigenetic are targets. a that lot

positioned. I preclinical LSDX think recently have pursuing their LSDX space the well are the inhibitor really in Many that other space. them are reversibility announced LSDX programs of inhibitor. the we're in space, LSDX companies There or in

we're at path everything want that head we to as down quickly So heading seeing right indicates the that a in can. we and level just we're high direction, as

And sort Absolutely. the it direction. really Yes. are in I of call, the advancing. this strategies No, mean, think I affirms,

to turn At like author, I'd time, this to for CEO, call David Salarius' the back closing remarks. over Sir?

these what me what And have today's a through And operationally, Thank like we deal we is seclidemstat. of I'd think our you. stakeholders XXXX advance we their very loyalty our seen work and bring mentioned the to is continue programs for X patients employees right earlier, is to as positive great thank their and and hope for We the momentum. picture like review, to as gone heard and future our continued we heard, wishes support to I we I or a now health that never to Hopefully, X been are footing to battling look good dedication their as I've you maintain we I Thank continue suited for stronger has entered and I all. talking of of families financially. that expand and to in look as forward what Salarius have believe devastating to and hope a appreciate or could continue your like. I and to the and attention and sincere you've painted would say to to treatment the Take have hopefully, clinical of times that development that it seclidemstat. cancers today, care. with well you, on than with resources time future. now, clinically extend my momentum

for this Ladies today's concludes conference call. participating. gentlemen, you and Thank

You may now disconnect.