BiomX (PHGE) 29 Mar 232022 Q4 Earnings call transcript

Good morning, and welcome to the BiomX Full Year 2022 Financial Results and Corporate Update Conference Call. Currently, all participants are in a listen-only mode. There will be a question-and-answer session at the end of this call.

I would now like to turn the call over to Marina Wolfson, Chief Financial Officer of BiomX. Please go ahead.

to call. XXXX welcome corporate results and conference update you, the financial BiomX and Thank release available news The became a.m. just after X:XX Eastern found be and website today biomx.com. on at Time our can available of on website. call replay A will the section of this Investors our be

like deemed begin, the review forward-looking on statements. I'd All factual historic safe are call that Before not provision. statements statements to we harbor this may be

cash, equivalents potential the existing PIPE timing our of the and we're efficacy deposits, of For of on the and trials, and design, benefits statements cash conference candidates. on call, forward-looking discuss safety, the the close potential clinical potential using product to of instance, aim, transaction results we part and expected interim final short-term and second the our opportunities, market other and when preclinical our sufficiency the

required In as well update trials. not harbor future website. results actual success addition, of forward-looking is outlined as our risks and not compassionate earlier, today's use as law, these clinical preclinical from clinical do past press including safe statements not in indicative undertake to guarantee by forward-looking noted provision, as our full to we do and are differ cause release, results on could which, that The statements. Except are

this Joining Chief Executive me Jonathan is call on Officer the Solomon, morning of BiomX.

With that, I to the call will turn Jonathan. over

morning, is our up shaping XXXX to good very everyone. company. for Marina, exciting a and year Thank you, be

and study. technology. in this our on of February a program X Without positive fibrosis in candidate, Our cystic Xb/Xa our moment back ongoing for was momentum continues with lead late question, Phase company watershed our the gain for BXXXX, results announced to based Part

bacteria developed both treatment. phage short the BXXXX these in period a cost such optimized life-threatening of lungs the reduce of an as As presence CF of after utilizing of demonstrated patients on product could potentially platforms, results

burden product in show The Part evaluating notable a represented phage study bacterial the in patients. X placebo-controlled cystic cocktail-based to also results fibrosis reductions first

As caused BXXXX and a CF from the persistent cocktail availability is those caused to Despite CF contributor P. which that continue infections, pulmonary designed mortality phage Pseudomonas infections has or by main reminder, PsA, suffer CFTR been therapies, chronic aeruginosa. patients intractable, directed morbidity patients. a by a Aeruginosa to such in to as combat of is

address New treatment needed each options year. CF unmet that are, of therefore, impacts significant to thousands need the patients

and On Phase CF in and Xb/Xa pharmacokinetics ongoing BXXXX exciting two February Part is call of microbiologic a evaluated review to also Our trial patients we of the nine comprised XX, reported the investors and design. with parts. multiple activity dose a ascending dose these in data. X single safety, conference held results

the call, of For providing I study results. plan today's a overall on overview high-level

our section. placebo patients BiomX safety and of under However, of presentation group on X:X data can Investor XX a of a Part receiving larger more detailed X the in the be and efficacy of will BXXXX nebulized patients Relations, trial website News X Events a with accessed our patients BXXXX randomization. receiving evaluate the in

period XX-day over the twice-daily will in with dose of treatment duration the X. period of doses a versus Importantly, Part be extended high seven-day administration escalating

third already the remain report of this X we on have patients quarter We track in and in dosing study, results started to year. the Part of

assess with the of maintaining tolerability treatment. course proved primary Part was goal case to of of the to and of to X safety BXXXX. I'd Phage are throughout therapies considered Part safe the X our study. excellent results briefly safety BXXXX profile now an be CF in and the like exciting generally recap that The

the with BXXXX small short this treatment efficacy trial. patients to duration treated preliminary see part sample size of in of first of encouraged However, we are also the during and despite highly evidence

mean reduction CFUs a for At compared BXXXX Day only mean patients. was XX, in baseline colony-forming placebo-treated the X.XX X.XX in patients units while reduction or to PsA log, CFUs PsA had log of with treated

As in internal noted of particularly course call were load on conference results seven our reduction bacterial dose. just magnitude last shorter our expectations, of exceeded these considering and the the month, of escalating surprised we by treatment days of

Not dose with longer Part X view, period a safety additional on as maintained as can treatment study. providing specified treatment-related the at the generally excellent to observed serve administered treatment an study are adverse comfort higher us Phage-based and of CF in that with profile this and surprising, results effect BXXXX reinforce tolerability regarded BXXXX and no be a the in over safe study.

one detectable emerging in period, no resistance to treated up of to treatment. end the patients after Phage week several the were or during and BXXXX there's or BXXXX after treatment Day XX seven-day

there which Part X of in expected, attribute in was by lung As course function as no of we measured change shorter the to therapy specified FEVX, study. the

phage therapies patients BXXXX highly for in of canvasing product infections summary, competitive emerging number landscape fibrosis. chronic and attributes, most of a to the with the pathogenic BXXXX In program, of we development with key use be believe treatment development compassionate as reducing safety, is appears In both bacteria. promising the tolerability PsA including to phage one cystic and respect

given differentiated strains. PsA addition, across strain orthogonal confer resistant to to unique its In of pathogenic to believe potential from also further we its BXXXX coverage design based be address

to I'd our over to now results XXXX. review the full turn Marina like call for year to financial the

Thank you, Jonathan.

you brief in today in of press detail we a and reminder, some information which in also the our financial issued through walk is will more be today. release later highlights. filed Form available XX-K, will earlier our As the I

$XX.X and net of The compared primarily was XXXX, million as decrease were $XX.X deposits million cash of due December balance XX, to operating in to cash XXXX. activities. XX, short-term As used December

mainly resulting compensation from restructuring. were net reduction salaries, because expenses workforce $XX.X the year, million corporate of R&D $XX.X reduced previous stock-based million, and from down for

Additionally, the decrease pausing of a and discontinuing, was result development several of the programs. delaying

to XXXX salaries in in expenses, expenses $XX.X recruitment and corporate a reduction and as well for to to was The compared $X.X resulting million restructuring. a for million primarily decrease year. prior related compensation were expenses employee-related due and as decrease from administrative and workforce a the General stock-based all in due decrease

loss $XX.X compared to used $XX.X XXXX. for existing that year. fund cash the and through plan XXXX was XXXX at million period compared of for will the least equivalents current for deposits was prior middle million sufficient $XX.X We operating cash for be company's the in Net operating estimate $XX.X million Net to XXXX. million to activities in same cash, short-term

back And I'll call Jonathan? over now to the for closing remarks. turn his Jonathan

Marina. you, Thank

Fibrosis beginning the are capital an challenges BXXXX today's candidates product based well the from shareholders. including Part a in CF, on strong Despite in additional support markets, our sheet release continued of from I of potentially Foundation. able our XXXX. the at current I is data, following Immediately and existing positioned X believe raise BiomX capital the call, we BiomX [ph] was for balance As mentioned investors, outstanding best-in-class posed Cystic to also

life-saving support clinical optimism product funds we our for year. results in this robust potential. We Part of We the couldn't value And view, with look surrounding patients. In demonstrate our to continue third this fits therapy best-in-class program. we forward that those potentially companies be profile. the quarter leading as growing these to bring progress additional and very with BXXXX this X much can the data funding clearly to the We to believe CF pleased candidates reporting make and reflect BXXXX more appreciate our remains viable

Marina take and would to questions. that, your I happy With be Operator? of any

Please line Wainwright. Joe proceed with Thank Instructions] from Pantginis with questions. you. come H.C. the [Operator has of Our first question your

there, taking Jonathan Marina, the for Hey and thanks question.

X Part question So the first, a quick data. on

as longer-term X, will patients? we're follow-up the curious, into Just we receiving be Part moving Part from X any

Part some out the and of morning. good will is analyzing the and data there that X, bit Joe more follow-ups. a samples come in

to a paper. present conference or planning are a We at

So on we'll it. give once we confirmation have you on guidance that,

bit little it. the X I the And of or Part X of and section impact Part then the Part on Got study. sorry, of nuance guess, I'm data X a

these kinetics additional to physicians provide relative training conduct say, impact first, as new of interest any can Part as there Part education as X the Part you well any any X data, feedback So do X? of announcement any for require to And additional the by and enrollment physicians to is X? on, or Part following

an a of lot excitement state it mean quite It's [ph]. it's I the of quite excellent with supporters our there the dramatic. question. with the PIs, is sharing Joe, Foundation CF

we said, data of the As expecting we this we've that X, study. bacterial which level weren't Part quality the an right, safety reduction initial of in was basically seen and

a surprise, It by is. with us communication. that took definitely pleasant surprise it is So helping

I as patients lot excited, a that more are think there's PIs well.

mind track, day. the we be that every guidance think provided not of bear to more keeping not want patients. incoming, we're on a Part They're I to intense conservative, things in same on are is We and also in X come the in required as that the sort past, lot the but and definitely

sense definitely, there's we there's there's X. in comfort; So the with more excitement get the participating Part more that

then That's but really X, don't helpful. sure only steps checkbox if question, not just the manufacturing last BXXXX status one for just about mind, maybe you making Part And for beyond?

Yes.

two dividends, question think decision some took we a years talking, spent to of it's kind in-house. I of we still kind everything So the put it's paying time and right,

manufacturing. looking pretty The optimized So parameters for good. was and sort control all It's other among it's of under ease cocktail of our straightforward. relative

think about X, supplies do we kind studies and pivotal the with requirement requirements, through So Part and feel GMP pivotal very for now to the yes, starting study. of a confident

the So starting we're that's do. some now that to work of

you. Thank it. Got

pleasure. bet, You

has with of Thank Please you. [Operator Instructions] Our next Thalmann. line Ladenburg from Michael your the come proceed with questions. Higgins question

of Sahana behalf is This Michael. morning. quarter. [ph] Good Congrats the on on

We have two questions.

relates X, mentioned to results the they some like The X could X. generate when that Jonathan, changes could first some to provide think, one had you Part Part came I Part

we is changes any guidance you. were is the So question the what made wondering yet? And on second BXXXX? were Thank just if

Sure.

morning. good and pleasure So

data X in initial dramatic I think than we in the you noted, is an more anticipated much study. as Part

are is when Foundation to a the as any additions, anything we thinking consulting effect Part earlier think of and greater learn seeing addition X planned. X. partner, the team obviously Part The can there's expect. with in than We're with there's whether So would magnitude proceeding one currently kind CF KOLs we the

we that's nothing then your conservative. to BXXXX, And provide And about we'll to think so question I be guided, but I think them, any far. we've as once very if there's updates, want formal,

market not the of kind still seen we've shape. in good a think I

and to solidified, market on all we provide make already want we the we'll that's then Part got X I we so handle BXXXX. After putting program guidance once CF where the that, about kind think good the see on make thinking a sure study. the of efforts And into is, of and pivotal kind sure we're

Thank you.

You bet, pleasure.

hand time. further Thank would like closing to this at over now you. any I Jonathan There back no for questions are call to remarks. Solomon the

Sure.

for forward joining Have again you out us this thank us day, clinical this look program So you our future morning. Thanks providing to any updates reach feel wonderful and everyone, please on with additional again. We questions. to year. to free a

you. teleconference. participation. Thank does This conclude We your today's appreciate

You may time. your your at day. this disconnect the lines rest Enjoy of