Intellia Therapeutics (NTLA) 22 Feb 242023 Q4 Earnings call transcript

Good morning, and welcome to the Intellia Therapeutics Fourth Quarter and Full Year 2023 Financial Results Conference Call. My name is Drew, and I will be your conference operator today.

Following formal remarks, we will open the call up for a question-and-answer session. This conference is being recorded at the company's request and will be available on the company's website following the end of the call. [Operator Instructions]. the Investor to at Relations turn Vice Karp, Intellia. now of President and will conference Ian over Senior I Corporate Communications Please proceed.

Therapeutics being This progress morning, section Intellia certain and Welcome a press for All Year uncertainties. Thank by morning, in as as no topics This sec.gov issued unless as broadcast the and Earnings Fourth the to well would listeners this outlined forward-looking found Media like ask risks Intellia company's at company's XXXX of that to this is information operator, on our I Full today, call, quarter Quarter information remind presented time, a will on Earlier website that minute duty be At you, and website. Call. and release discussion and this be to potential current during this SEC good to call Intellia take for discussion live, make is release undertakes on replay a Intellia filings statements call the update can today's intelliatx.com. Intellia's call. you this of at archived and of Investors refer a and the available to may law. on management required everyone.

call of With I'll progress John, Joining call financials Chief Financial Chief Officer. we updates, Glenn our the me our Executive Medical business and Executive our questions. over Chief Scientific from before Lebel, clinical David R&D and Intellia that, Officer. pipeline the up with Chief highlights. an will Glenn Godard, John update overview will are Laura Officer; turn Officer; to an Chief our review David recent on John now will open Leonard, review for begin Officer; Laura provide Selorenzino, will

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on and insertion. gene We're Good morning, in programs, to everyone. you, ex editing development success the in and vivo activation in novel gene applications. our the continuing Thank Building vivo delivery we're therapeutic advance targeted leading of CRISPR for both David. technologies of gene vivo

cases our the of gene days OCD deliver programs over clearance. LNP Factor along Regeneron, a machinery collaborator, XX [Indiscernible], milestone data, an waning after gene. whole These Gen standard or our editing platform maintain MDLA-XXX dose. geniuses preclinical this of Unlike proof we our our hemophilia Phase expect MDLA-XX or I Here, functional effective in to also or without that decisions Further, of either would using insertion submission, of Earlier begin we in to to leasing achieve in program, to B category the vivo therapy, on modular year AAV by approach IND program IX at DNA for within will traditional addressable same effect potential potentially a wholly new achieved time. a that Based In restore open the diseases Intellia our we're protein CRISPR permanently this a of require gene has deliver that human of a announced with development. are puts expect our owned leveraging high leasing IND XXX protein. This month, testament the not base effective concept restoring platform biting. our human alpha-X efficiency. could study levels protein drug for the for normal alpha-X antitrypsin of the single

liver-directed programs we're collaboration Recently, gene commercialization Therapeutics tissues. CRISPR-based in strategy a this accelerate by our of areas of of full we goal genes while different collaboration, with is and across our announced line alongside of to programs, to our tissues. pipeline focus example gene new optionality the provides partner other cystic the partnering to own our development attractive another to This for core outside With yet X Beyond our editing pursuing potential fibrosis. extending the pipes. of retaining industry-leading harness enable our editing program, treatments platform collaboration ReCode reach the targeting other actively

setting, Finally, owned and multiple in we're with both wholly ex-vivo collaborators. advance the programs, continuing to

allogeneic and solution, is Both our CAR-T designed XXXX. utilizing our patients Abanca both immune allow an our cell platform T Glenn, example, for challenge in I'll are which Intellia's Financial using connagurators to the study a untapped of quarter update of now in-human dosing therapy. advance Kiberna Officer, hand near over rejection, is provide disease. our an candidate. is the financial a program as proprietary to their cell previously results field For who NK of Chief allogeneic will fourth first next-gen on call for now cell to

allows platform. balance execute everyone. to Laura. Good pipeline you, a sheet to maintain us our Thank on and morning, Intellia continues strong that

equity cash cash, million net driven XXXX, was from December $XX.X by and program, proceeds The of $XX.X the by securities proceeds as XXXX, were reimbursement equivalents of decrease employee-based and marketable cash part of December million from million. $X.X to XX, billion $X Our operations $XXX.X was XX, offset fund million to stock $XXX.X at-the-market used as company's approximately billion approximately collaborator million of of the plans. of interest decrease in income, in $XX.X compared

advancement driven quarter lead where extending personnel was $XX.X R&D million Stock-based million was mainly the decrease was to decreased driven quarter to to compensation quarter $XX.X $X.X to million This recognition to revenue $X.X these quarter million for quarter by Intellia, revenue of G&A increase mainly of the increase increased million million payment growth compared quarter The included compared an XXXX. by the April during XXXX. XXXX. of in expenses the as during a to million increase -- fourth negative expenses XXXX Regeneron expenses related million and R&D of primarily the $X.X April G&A compensation support included to by in to million collaboration extension. adjustment during in we received quarter this part $XX $XX.X $XX.X fourth collaboration onetime Stock-based during of of to the related million XXXX fourth fourth Regeneron XXXX XXXX. million fourth the stock-based XXXX. programs. Our $XX.X The fourth increased the $X a to of our of of technology $XXX The the fourth compared by during in the XXXX. $XXX compensation $XX programs the million. $XX.X million due for was expenses of million was during of quarter by approximately fourth

the to that, Finally, the into questions. updating open productive call for we fund be year we you for another now you XXXX may Q&A. catalyst-rich your mid-XXXX. now on expect we forward continued operating will plans for look progress. will balance cash our Operator, open and Intellia, With to call and our our

begin the we At our time, now will will momentarily pause [Operator assemble question-and-answer roster. this We session. Instructions]. to

first The with comes Jefferies. question Raycroft from Maury

the on progress. Congrats

update? report -- getting you and tied As from how how you'll APOLLO-B compares data patients to study, sense aim about levels potentially CV TTR follow-up HELIOS-B providing you are accumulate it this the in I in relates update and of as and year? individual silencers are your collect and how data talk you Phase the to more do to maybe much later XXXX cardiomyopathy before And to events this what a

Phase the study Thanks, question. your is I It's John. limited Appreciate Remember, Maury. size. in

to that program, the be put wanted of about really anything be to a been tie levels little We but that's out the that don't other and a to we'll later III the use ability what from we've to clinical there I -- as that competitors is space seen about this talking how anything presented in bit we thus we're to the might amount if be changing what information progresses. see inherently don't of I with far see we to fundamentally provide work. Phase prosecuting So complement TTR think David, and a sure as limited. more the thinking what I'm call you add know, year. look going point to is doing our it'll progression clinical our view own that

Yes.

that expansion towards most given you've recall 'XX. the end think I the dose of just point. completed People just important the

just And difference year. patients we've a in studies bit So other the patients between treated of at have the other year. IIIs Phase had diverge even placebo compounds in over and the a about X start seen to that little

So studies right to, controls course, the we this is -- to we trends. to of so compare any other do results at. course, follow-up the a don't we don't the look quite have need to significant have of single-arm And, results, do from trial, of our but we see

question The Luca next with from comes RBC. Issi

on Great. This for is Lisa Luca.

again Just to read this study -- on summer. is a cardiomyopathy question out going [Indiscernible] an TTR

positively, study should NTLA-XXXX, of early helpful. result any there could wondering, with in termination cardiomyopathy color out So TTR be just your would this read this

affect comments, later and how Phase own XX earlier multiple We're David what work. don't about the got enrolling are the see early now, remind sites termination to which through the some I the I to HELIOS of going more results our we're magnitude. the we'll and trial, in we enrolling open just sites. communicate mean, actively progress you III aggressively We've up call opening program. far to information presented whether year. HELIOS we the own about we this based based we everything study. others, design think study on the thus and But with endpoint remind studies how data, the our look accumulated it's Obviously, very other or I'll that's as own we're trial confident seen our have. satisfied data that it's to by we've conduct you, on an went

we're their doesn't the we're We present relate point on time is work view study stage at happens and an that whatever we to which This just the going So somewhat is of patients our HELIOS, study. a from study. really size more to that advanced to of doing. based expect disease, have event-driven appropriately clinical endpoints the in

all in a we're we good think really considered, So position. things

it doing. really watch change we'll doesn't out, course, it HELIOS we're fundamentally but Of as anything that comes

question next comes Harrison The America. Bank Greg with from of

competitor XXXX color some treatment on latest potential Could thinking you the place on given give landscape recent your in update? data

few made problem, patients doctors a therapy. challenge hear themselves make and the for which years, in the there's The other last them the great an and And for we HAE. worry patients, position on-demand It's over have to Yes. don't activity has is out from important progress they question make be we news. to never HAE patients from that pharmacopeia acknowledge because drugs attacks fundamental to in there go about is some where certainly, have an that been attack in they have carry away,

what those going a forms And new long patients point that burden from fundamentally, readministered as those continuing out think So prophylactic as come are of of be drugs we a to patients. on-demand for. to view, that for be need don't therapy is as addresses looking

with continues, continuing expand, which solution the looking where patients to to that right be all. for far attacks believe success and far going therapy the and that patients dispense able we anticipate, look we've the we are and seen of assuming that's we we're with is that all, thus to data we've I as And will their we think seen the for. which at forward matter, the to thus So the once for heart are look once preventing

question with Wang comes next Barclays. The from Gena

had one ATTR-CM is magnitude Harshita on trial. just the on I Gena. for This

outcomes KCCQ. TTR secondary your clinical.gov, change For serum in in to XX also and baseline month included

being confirm wanted thoughts first, I these were so, some X-minute the if So And these echo endpoints wanted the as and endpoints and TMP on why were common measured? I versus to Micras your to other that only sole get secondary selected ones as such secondary walk parameters.

you So could any color helpful. be would there really provide

why to endpoints to we the want speak secondary do ones and think included about chose. David, you we we how

Yes. most agencies. well as Those course, consultation of important regulatory secondary as were chosen with in endpoints, being the

what are, we and we endpoints, The primary events see important cardiovascular all, for mortality. think in the first of patients, reduction things in

course, therefore, with quality in an will thing. be is, that's improvement of of This quality endpoint life the patients. Of life for associated, most important course, an these important we of and, think,

The than because other their results patients. -- recent getting not part in measures but It's walk important have that the studies X-minute as other are heart affecting seen. about disease to And patients. they heart same really older happening may their especially for have as to proBNP. of patients, important that's function, like what's been of these what's The to a is think really you've X-minute things a other indicates don't walk we have had really heart something biomarker inconsistent

with Lankford Troy TD from comes question next The Cowen.

on FDA application European you mostly as do what this the you do XXXX, time any For Or you -- point? you seem that European in could same in or with aligned do do all Europe the expect at you see file divergence that are wants And think that the regulatory U.S.? there? regulators dealers see

XXXX? the of filings [indiscernible] conjugate the address to want you do David,

set design XXXX the this fairly indication. of is For Phase well for III

any filing, have end that we of III design. Phase really to that approvals And drugs of small prevent they could number patients. that looking feature the have acceptable or with going be which studies. with forward, really that and events well. II new but discussions that they the in be In an case, coordination the to, FDA our kind as in very other a we will is types well have meeting, be Europe, these of be both may idea would able similar studies, the sort under of to indicate of that design patients. includes all Phase XXX be And we Europe They forward This with seen You've tend don't moving meeting. in in that they

The Biliouris Capital. next question from Konstantinos comes BMO with

Congrats ReCode. on with data recent additional on progress. that approaches developed you gene we when disease. landscape, Maybe this thinking can question other collaboration one any being on your color are And there? you Can provide first see competitive are the about the approximately for how editing especially early

Thanks that we're excited We're for the about the work embarking with question. on really ReCode.

can to it's done a and address CF. into developed a interesting the which we that convinced that's expand. exactly to variety of go we're we're that path to currently patients time with are lung and unsatisfied think have But a gene Obviously, at landing I going that what and really can puts work lesions approach the with we've for position, the this us to when delivery one early a where little LNP we're take writing from different that going genetic have project it. they've

in space. broadly that be what think might can possible You about more

problem these be to that to chosen obviously I prevail. think to suffer In there's to a partner all for in and other patients ultimately the And position get best approaches, competitive a we think be from. the competitive highly once solving terms race and of we've

Ha next Dae Stifel. comes Gon The with question from

Dae NTLA-XXXX. a on questions on Benazir Gon. of is Maybe This for couple

profile you the ceropino-X editing Given are detect approaches rapid MTLA-XXXX? to the the is of ideal some pieces ATD, us it of insertion, evidence like are in that correct gene gene? the And product for is can the gene And remind that clouding insertion supportive available tools of directional? what or gene again the what therapy,

to So to insert directionality sort speak we've it the there's to We if of to addressed what we'll think Laura is turn it. any and nicely.

lung protein. to we've get Once profile, patients to product mutation essentially patients primates, be normal levels objective place, accomplished does as the preclinically respect to with with which first human our Just in nonhuman without to that, should respect is the in essentially of disease. the least their one at the those same wild-type

we're Phase as that a of So or whether humans excited what and say word whole a will to we're speak. in really will XXXX, on want we about that of that that as how about Laura, be sorts basis with address trial insert And, now we're I getting other information, only programs associated of you the we'll doing not get the embarking insertion we which the that. to course, but not with that works? of think plethora

Yes, we're using into the sure. inserting we're albumin And X intron this the where insertion is of -- locus. our platform

is expression albumin, a is wild-type. And, right, the of So by strong is which the really course, driven promoter. gene,

fully functional is wild-type. this So

So there modalities. by with edits, standard you is introduced editing no issues that with example, other any errors for on sequencing or

The next Truist question Securities. Joon with comes from Lee So

be for This Joon. This is also one may on Maddie NTL-XXXX. Laura for

So please normal on the mutant manifestation the potential about patients PV-XX of in the capacity the heteropolymerization with based of could of form. treated risk talk a you with form liver exacerbation

Do the. you want address to

of us treatment. in aggregation lines regards the Yes, mutant would seen lead seen -- exacerbation form expression any XXXX you've to where there models, to is preclinical we after concern cell with that haven't our of a

question next from comes Brian Cheng JPMorgan. with The

Phase LNP What's you that administrations? bar CMAT also the aiming the the And out the in space of on trial and how present. sequentially thought specifically, to I touch AAV around latest XXXX you do can you're the

David, of Phase I you design. summarize can essence the the

LNP and within a was But to little it think particular hear. question administration was that I of patient. elapses part between hard much think the how time a I AAV

given the at are And CRISPR successful is same told they and cells fully get administered. to -- feature be but be that are present will really Otherwise, at want them be the it exactly to because mechanism AAV going that's they study, this I a of that have. approved signoclinical study again, be trial escalation they're they are we'll with pre-clinical And bit, both the on the haven't we exact insertion. the key gene Phase time a to based -- in dose both more the giving given the details separate the a we to We the And same sequentially. once not is once standard findings time the

the And it Richter Goldman from Excuse next your comes accidentally question Salveen Sachs. at your Sachs, is Salveen Is me, side? with line open. muted Goldman on

Can you hear me?

ahead. Go

for This is Lydia Salveen. on

Just speak and another XXXX. for the complete to just trial you on Could your enrollment comfortability around magnitude expect the you to powering when

you do David, that? to want address

Sure.

So design. in recall the event-based very on up confident to having study we've that rather -- we're the patients. I used an follow than

you rates rate. the lower predict. event of conservative that and than that, we advantage perhaps the event extend the very time powering would need is study given they of predicted did based So to not make of a this, course, on both do on But our estimate,

study at of with larger get completion said, with have HELIOS-B sense. confident other is -- we be the the we'd than design we've the the what of in looking patients. be a So at to enrollment, some again, in we're XXX yes, The studies to going

seen studies you've very quickly. these So enroll that

when would a you good give expect we do enrollment. complete to that so, idea And

The with Chattopadhyay from Guggenheim. next Debjit question comes

relative enriching XXXX trials. NYHA ATTR by CM other sicker This or to capture that the opportunity differentiation for Debjit. see potentially population for subjects Class magnitude contemporary is a with III Ray you patient trial on Do demographics

patients, that -- patients David, mix for disease. us? have do are allowed speak do to who the more of in you we've What to does want advanced

course, other have be the way this what greater could Yes. us a have did proBNP allow, III And not We somewhat on X,XXX proBNP this is than to we than sicker an Class in we patients. do limit baseline An the to differentiate important look few patients ways. of is feature of and studies. who the for the are upper

we rapidly trial did be by this occurring the will the First, events completed rapidly. more because more

addition, benefit these reduction. sicker In do the to from we most TTR patients think likely one are

what healthy about either won't the have and contribute patient, trial. they of you really trial, the if very have -- you're learn in to If they events a won't arm we

patients, of able we by treatment getting think to will So -- TTRs think that do lower we treatments study. in differentiate choosing be do other and our the these this to

comes question William Pickering next Bernstein. with from The

what have we is used that dose was And the albumin in how for in be required error NHP And ATD, the you're lowering margin that see genome? AAV integrating of make efficiency do would meaningful not human of therapies compared gene expecting what into dose aren't the from levels? equivalent your the levels traditional much In in you level insertion studies? how on terms to AAV a versus albumin then that to

about not levels precise we're need. standard Well, word get strength are it's say speaking to of to we few AAV, the to maybe albumin the the used integrations for and lower what's but could than a a Laura, you dose the of therapy. necessary gene promoter why just

Yes.

the in strongest is Unilever. promoter IBM promoter So

goal, don't in a of decreases So just the productive We see cells of liver not as a regards we of to hit right? margin. the John a So need low. ensure said, And is as right, editing few. need average, us dose cells in to AAV albumin, just the achieve we're with LNPs the very data, the care, albumin significant because few only and safety. normal do to that all good cells. course, with the We you're gives And you feel about the that insertion looking matrices percentage have an just AAV, at XX to keeping In micromolar to levels. few pre-clinical

that was studies. remains albumin we've So that constant, preclinical talk GLP seen expression further models, in and and our evaluated in

Fitzgerald. Rick with from Bienkowski question Cantor next The comes

everyone. Great. morning, Good

way. ask filing, use BLA mechanism for confidence in gene And the I the given editing given trial for study pivotal also phenomenon potential if the able in Phase For endpoint the XX-week XXXX be competitors being I time breakthrough was just any pivotal experienced in from data, design study, HAE the of was the X-month wondering the dosing different could a initial the the the primary after pivotal wanted about this lines there here. in degree period attacks. accounted some in in I to patients is where to

to world. want the speak of you to points. around to mean, X-month approaches. the I you to Do on front beyond been do standard David, the extend think need regulators line. end will I'm you've sorts the be there talking obviously, that

Yes. which apply the the this will standard has X-month standard be that What in studies is same we endpoint, study. we believe these that been to

BLA longer extensive program and Phase of we have terms a In patients file our knockout follow-up when Phase will other a database gene from the longer of with. very and we follow-up, safety II course, I as as with well

So that -- regulators bringing we the will satisfy safety confident we're do feel very database the want. what be

course, all patients XX-year the therapies, standard follow will gene continue Of for for to we the period.

In how attacks, are about account breakthrough at terms the for design. this of in not the We're to exact talking pivotal study. looking the we

recall, have XX to had you patients patients You only the to attacks those attacks a month, unusual recall. as who of are very number

will So where of that's patient the that the were like the waiting gone -- patient the in this I the who other an -- study. Phase study don't unusual after attacks be patients Most expect much for infusion. patients more we kind the of is pretty

the we about objectives in in extremely into successful BLA a years. to position be can It excited key to we our marketplace very Rick, will CRISPR-based vivo think And we a for approach be I take X to approval XXXX. first in. noting company what is in next the that very and think what in strategic go the X is you of we're one appreciate being the

Securities. comes The Zhu Yanan from next Wells question Fargo with

Great.

also in wondering, on of just talk DNA if quick the technology. the And could wondering What is a writing your little bit very So percentage you you about a antafamidas patient target magnitude. one trial?

think in acquired I program time the technology the is hear we a XXXX. since this about first you

are whether So or correction a there wondering, if is DNA for example, RNA and template format? it

about say that, general I a of and in editing gene brings how Maybe introduce about introducing writing variety whatever introduce way genome think When to writing think the changes. can we of is to is purpose. type David word particular we change -- category the string in that ways that's mean, it magnitude DNA think approach, to us, writing -- a the of about interested By will one the I a There's into those therapeutic about Tafamidis and a study gene different address nucleotides. introducing with the we approaches capabilities. that or

this we're was in the work point the we're we're I important making what we're word to already doing. couple excellent and Tafamidis. think that how we to years talk doing technology us doing place, of with right that note excited that add want into time, work what exactly commented, we're we'll But complementary our we at David, the fits to the pipeline. it's everything that at ago, right a about and want do about you and that to doing progress a say As the just to acquired it that brings work And to do. you to

Yes.

so we as far have Tafamidis, and to seen patients about to the studies been treated that reported the similar is For expect well. been this Tafamidis half what's be with in pivotal

James. Raymond with Seedhouse Steve from comes question next The

Timor is Revance This for Steve on Seedhouse.

question AATD. pulmonary exacerbations as and on and show in have a to augmentation lung other improvement more improvement. therapies endpoints FEVX with haven't Historically, difficult dougmentation such advanced or even this in show therapies function been therapies we to it's attempted So

function, show improvement require you in you lung an do to think how improvement? regulators about you So expect to do

David, ask. do you to want

publicly necessarily And a of hasn't not gene alpha-X normal may really here. Yes. the to accept FDA may some that get us us we on with with that a and could clinical the course, be our move findings, approval, can work atrypsin, The something some having mostly to There way program associated regulators think achieving. editing because levels, regulatory an but program been definitive standard a improvement. based forward so we'll this levels reports way set the be far been do that of only have the give on that high that's this shown to will normal be forward, levels

comes The from with next Oppenheimer. question Jay Olson

just you some diseases. providing of study additional talk does what and that the collaboration to And collaboration of attractive? platform features administration? about of the cystic route Can collaboration is found you with only and for update cystic potentially you Or the the could ReCode on targets Thanks leverage the the And fibrosis? congrats recent LNP focus the fibrosis. on in

want you Laura, that? take to do

Yes, sure.

lung. in the inhale yesterday. PCD LMP for they're with I are patient in to quite think ReCode been nanoparticles mRNAs X -- These class actually, fibrosis, So interested already pioneering the targeted different an know, in that lipids. has of we may They And with you what the flip as clinic the and they have cystic they doing were mRNA are a new dosed organs. first were sort

goes for would they that if edit So and demonstrated route that you long-lasting the manufacturing get to and lung have administration the of not they that cells, CFTR to the to of and benefit you're but they to need have with the already target which have looking after a mature correction. clinical only M&P this can data preclinical also cells inhalation,

marry looking So looking when at we're partnerships, we're technologies. to

in have modalities. mutations specific editing they validated allows us to We a that strong technology gene and delivery target bring

I make and partnership, to it's quick looking So a progress. great think we're forward

from Tarkan comes Silvan question next The Securities. with JMP

progress. the on Congrats and on the quarter

III the from the information us in any of overall, Phase HAE And Just Phase design dose some we is the this in help year and program. a III? can considerations design like dose later any think the that in design the then regarding you're the also the the of trial thinking quick study us or that here? Phase the What will be will from confidence or Phase will III HAE the that are midyear OASIS give what presented that that there data II that one selecting about Phase impact about get II Heonis selection? for And see on

you Phase dose are going introduce for your III. how David,

Yes.

there the recall to on Phase X XX completed enrollment XX So that patients we've in placebo. XX a on are milligrams patients II patients milligrams, patients XX which and on the

have we the escalation those because chose doses. So doses a dose which very those X in X good to setting phase. in evaluate We

after sports patients which you after treatment, patient related to was in achieved events a all a event a single As except recall, the one year infusion, basically no injury.

So the looking effect this, lower of also pharmacodynamic of be -- things clinical there The more these rate, with variability be we'll as consistency the at findings, Phase at, dose. II, was is at looking we'll have but we'll of a of the database the the very the part course, doses. X event the extensive

that first be XX III we all study. the on So but decision at is want this look and going very on better, we the be the decision Phase a it to to principles, to based robust Phase dose data would will think tend II and make about a

with next Lebowitz Citi. comes from The question David

curious Switc And gene its to has be that would editing for there is would what for product? a trial. competitor a of A just as or I'm look HAE type whether that study study similar needed a like

Yes. speak that. I'll to

happens talked about any study therapy. of haven't the usually Switch what from We withdraw is in you studies, kind pivotal a doing prophylactic that

therapy. have from that And think withdrawing that on therapy to to labelumab as is a well and off repeatedly varstudy We onetime get patients approved to to seen other interest the they we therapies. do as when an will patients be this go a prophylactic of take have therapies

be this being to a study. yet switch that we but a therapy, is So considered guided Switch there obviously, haven't would something,

from The Jack Baird. Allen with next comes question

to comment be you study? the enrollment HELIOS-B I to bit being on magnitude results you Congratulations enroll from ask about and expect plans affect magnitude HELIOS-B. placebo-controlled advanced how positive could wanted more progress. in a could And compared patients more slightly if your a as to do of magnitude

David?

these really more the from therapy. patients the The are who that advanced idea benefit enrolling of can is patients

some If some some little seen you of can findings in failure. despite study. early having the -- are And and, heart few be the those the to we've healthy events quite patients who very have patients very imagine contribute therefore, studies

HELIOS-B for TTR the well. value cardiomyopathy, to show really that's would as It positive do idea experts patients hypothesis doing that really reduction of with So think a all that the positive study in. the us a that. is And the we believe -- is a

So could HELIOS they've very very The we best-in-class very our seen will and be already well that, the do reduction consistent of It that first positive. have be as physicians so it's deeper therapy a we about in think excited that likely TTR. that all, agent. are

that a TTR enrollment to the expect any as demonstrating is brisk course, value further our important enrollment positive study we driving having well. maybe reduction in So a case, be of in

This to would our closing concludes like Karp remarks. any the session. conference to question-and-answer Ian for back I over turn

year certainly year, and morning. Great. joining been so eventful Thanks Drew, It's we look to you you, to us progress. thank and forward an additional and this updating with the the start for everyone, throughout much, successful

and So look everyone soon. talking thanks to again, forward with

to close. come has a conference The you. Thank

line. your Thank disconnect may You you.