Q1 2020 Earnings Call
Ladies and gentlemen, thank you for standing by and welcome to the constellation Pharmaceuticals first quarter 2020 earnings conference call. At this time, all participants I know listen only mode.
So the speaker presentation, there will be a question and answer session ask a question. During the session. You want me to press Star one on your telephone. Please be advised that today's conference is being recorded if you acquire any but that's just since please press star zero I would now like turn the conference just because today she accounted for vice President.
And with Investor Relations. Please go ahead ma'am.
Thank you operator, good morning, everyone and welcome to this conference call discuss constellation first quarter 2020 financial without operational performance.
You can't count.
Installations, Mike President of Investor Relations.
When I tell you how thrilled I am to be here represented constellation I look forward like you're working with Ron I'll take you might constellation and meeting all of you can maintain an active.
Dialogue.
The beating you know call. This morning, I can't wait times constellation Chief Executive Officer.
Hi, we I Chief Financial Officer. Please.
Speech I get my kids.
Before we begin I want to point out that all presentation. Today will include forward looking statements, which are subject to risks and uncertainty.
Actual results may differ materially due to various important factors, including those described in the way factors section of our most recent annual report on form 10-K, but other with detailed in our subsequent filings with the Securities and Exchange Commission.
Acumen can be found at then that's your cap constellations website at <unk>.
He see website forward looking statements represent aren't being only at the time up this call and should not be relied upon.
Yes, I just any subsequent times.
We undertake no obligation to update the state.
And now I will turn the call all the kitchen.
Thank you Keith and good morning, everyone I'd like to begin by welcoming key yet to constellation that your vice president of Investor Relations.
He brings a wealth of experience in a position prior to joining constellation key or was it biogen roles of increasing responsibility, including any Investor Relations officer.
He also worked at the senior debt equity research associate at Citigroup NFC being married having small kept by that biotech companies.
Keith Keith will be working they run Aldridge to continue deliver high quality interactions with our investors warmly welcome to yet.
I'd also like to say, but I hope each of you and your loved ones, you're safe and well as you work to overcome the colder than content that Nick I know this issue is a very much on your mind and shortly I will provide an update on its impacting all operations.
Please turn to slide three.
Let's be let's begin by looking at some of the key highlights about constellation we have a portfolio and wholly owned clinical programs featuring Cpis. Your 610 targeting the best EMEA proteins as well the C.P.I. trouble five and T O two annoying both of which target gvhd.
He was 610, we believe has the potential to transform the standard of care in myelofibrosis.
And we've been able to demonstrate potentially disease modifying effects, both as a combo therapy entered the molecule.
We've been developing a second molecule the easy H. two inhibitor <unk>.
<unk> five.
For use in combination with androgen receptor signaling inhibitors in prostate cancer.
Cpis you choose your nine in the second generation even issue here because that's been designed to engage with the targeting a different way.
We believe this expands the potential opportunity for me teach too.
All of the work that we've done here to dance programs into the clinic as he moved from her own discovery platform and then we'll continue to be a source of innovation conservation.
Please turn to slide four.
As I mentioned, our lead program is there a bet inhibitors Cpis you were 610 from other headroom.
Hey disease, where the majority of patients remain underserved.
JAK inhibitors provides lean production and symptom relief with more limited evidence of disease modification.
Some patients are unable to initiate Jack can you bring therapy, where we see an effective dose due to low platelet counts or anemia in somebody's the response over time.
As a ninea worsens patients face, increasing the poor prognosis and transfusion dependent.
Many patients reduce their dual syk JAK inhibitors further reducing the efficacy where they stop altogether.
Red blood cell transfusions to treat anemia, often lead to transfusion dependent and diminish quality of life.
Our goal is to expand the treatment options for intermediate and high risk enough patients by offering a potential for disease modifying therapy.
We hope to provide greater benefit for patients currently take JAK inhibitors entered those patients who delayed treatment due to anemia, rather than as well as those who lose response to JAK inhibitors overtime.
Please turn to slide five.
We were excited about the commentary data that we presented at the Ash conference in December between 90.
In JAK inhibitor naive patients we shared earlier I mean, it's going to him respond Threeq. We also presented additional data in the second line cohorts, where we saw signals of not only spleen and symptom benefits, but also potential disease modifying effects, including increases in hemoglobin conversion from transfusion dependent.
And you didn't independence and bone marrow fibrosis improvement.
We plan to provide updates soon in conjunction with the European Hematology Association meeting.
On May 14, three abstracts will publish one for each manifest hard reflecting a data cut on January nine.
At the have virtual meeting we will provide a further update I give a leader data.
We plan to meet with the FDA in the mid year timeframe.
Report back to you soon thereafter.
These discussions will help refiner plan for a potential registration path for Cpis, you were six kid, including our plan to initiate a global randomized phase three clinical trial.
As you were 610, plus ruxolitinib in JAK inhibitor nave patients.
We expect to begin this trial in the second half of 2020.
This reflects a modification that our previous guidance or the Q3 start as your acknowledging that the remained uncertainty arising from called it might be.
Please turn to slide six.
We'd like to share with you what we can expect to see in the Hot abstracts on May 14, anyhow presentation in mid June.
As part of our update with the abstract we will be presenting 12 week Fcr 35 data from 29 first line patients at 24 week data from 15 first line patients.
Additionally, the abstract we'll update.
Data from 48 second line patients.
At the high itself.
In the first line setting will present 12 week F 30, fivea that from approximately 50 patients.
And 24 week data from 25 to 30 patients.
In second line cohorts, you will show data from an additional 70 to 80 patients as well at the meeting.
In addition to SCR 35.
Will present, a broad package of data, including symptom scores and indicators of possible disease modification, such an hemoglobin changes transfusion dependent conversion rates and bone marrow fibrosis changes.
He will also update the safety profile of Cpis years extent.
Now please turn to slide seven to learn about her eastern franchise.
As you know we have to easy exchangers, CP I trouble five and Cpis your to do nothing.
Starting with CPR trouble fight.
We're treating metastatic castration resistant prostate cancer patients.
Have developed resistance tuned androgen receptor signaling inhibitor.
We previously presented data from a phase one be study.
That show the CP I trouble side is active in patients were treated in combination with either abiraterone, we're entering the might.
Patients generally you didn't had a DPF in response, such as P.S. eightys, rather than Thirtys mid Fiftys, we're rapid disease progression.
First our enrollment is now complete we plan to review updated data and make it go no go decision in mid 2020.
If it did you not supporting strong product profile, we will focus your effort on Cpis year to your line our second generation each year.
Please turn to slide eight.
We believe that Cpis. There are 209 has the potential to be a best in class easy it's true.
It was designed to be a potent endurable inhibitor BPH too.
As a reminder, a key differentiator and Cpis here do you feel like it's residence time on target.
Cpis you choose your annoying bindeez, each tuna biochemical assay and doesn't come off for a moment.
And with that in mind, we believe that it has the potential to extract the full impact to be beach biology.
The compound the call. This compound profile may allow us to expand the different patient populations are not addressed with first generation distributors.
Currently assessing cpis near to the or night in a phase one dose escalation study.
We intend to establish a recommended phase two dose in the second half of the year and begin or a phase two expansion cohort shortly thereafter.
Some of the context, we are pursuing with cpis year to year nine include biomarker driven strategies, including the assessment of mutations occurred in one day.
We will further elucidate the development plan around Cpis. Your choose you were going as we determine the recommended phase two dose.
Please turn to slide nine.
Finally, I'd like to summarize some milestones that we anticipate and the rest between 20.
As I mentioned, we plan to have an important updates for Cpis years 610 at Eagle.
We also plan to start a phase three clinical trial with Cpis Your 610.
In the second half of 2020 and providing further update on this program by the end of the year.
We also into provided an update on CP October fly, including or decision on next steps for that program in the meet your time frame.
We anticipate providing an update on Cpis you were 209 in the second half the year.
Primarily focused around establishing a recommended phase two dose.
No it's getting earlier I'd like to give you an update on how cobot 19 is impacting their operations.
In manifest patient enrollment began to slow toward the end of the first quarter.
We're all aware the difficult conditions under which hospitals around the world are working and also the limitations in patient travel.
So to the pandemic, we hadn't met or exceeded our internal enrollment goal and we continue to access the impact.
Other pandemic couldn't dependent it could house one of the manifest trial timeline.
Similarly, well we've had into incidences of incomplete data collection today, we're utilizing provision to the protocol and recent regulatory guidance that allow for potential flexibility in the time in flat place of data collection.
As mentioned earlier planning for phase three clinical trial of Cpis. He was extended on track.
Conditions at the clinical trial sites caused by clear with my team may or may not caused the delay.
In the start of our phase three trial, which we currently expect in the second half from 2020.
To date, we've not seen a significant impact to cope with my team honor clinical trials for Cpis trouble, five where cpis your TV or not.
In manufacturing, we've had some delays and supply of materials for Cpis, you were 610, and cpis here to the or not but there's been no impact on overall timelines for conducting clinical trials.
With that you will now discuss your financial results and Cashman.
Huh.
Thank you Jessica and good morning, everyone. Please turn to slide 10.
We had a net loss attributable to common shifts stockholders of $25.4 million in the first quarter, which was in line with our expectation.
On a per share basis. The net loss was 61 cents per se and the first quarter compared with 75 cents per share in 29 team.
R&D expenses increased by $4.4 million year over year may need you to work related to see pie of 610.
Personnel costs also increased compared with the prior year quarter as we continued to build out our organization.
Our cash cash equivalents, a marketable securities were $358.8 million.
At March 31st.
Sufficient we believe to fund our operations into the second half of Twentytwenty too.
We plan to use cases also to complete the man that's trial summed up phase three clinical trial. The Cpis plan at the start to build the commercial organization needs and to launch the comp.
In addition, our cash will allow us to complete the phase two clinical trial for PPI Clovis five and the phase one two clinical trial.
Killer nine as well as to support our discovery platform.
And with that I'll turn things back over to Jim.
Thank you I'm.
And now we would be happy to answer your questions.
Thank you.
Ask a question you will need to press star one on your top on your telephone to address your question because the conkey. Please standby will become part of the candy roster.
Our first question comes from Mark from with Cowen and Company. Your line is now open.
Yes, thanks for taking my questions and also thanks for being very clear an explicit about your what we should expect Trey I guess just one quick question on.
The timeline of patients through here and some mechanism figure.
Would you with geography, we see responses pretty quickly, but with this mechanism added on do you expect those responses also happened always very quickly or would you expect people kind of deep and overtime given some of them more morphological changes that may be happening.
Yeah, that's a CE mark that thanks, thanks for joining and Ah I think it's a great question I think we're going to learn more overtime as we as we treat more patients and certainly you in the various context of a treatment will also who also learn more as well yeah I would to study you point to the early results that we saw.
And at Ash.
You know in within 12 weeks, we were certainly seeing responses with that combination in the naive setting or experience in the second line setting in some cases have been.
More of a.
Continuing deepening response over time.
But what it looks like lets see how that plays out.
In Canada.
Translates into the first line setting and with me future updates.
Yes, the other point to maybe the data point to keep in mind, just kind of what happens with Ruxolitinib alone.
In kind of that that that timeframe from kind of 12 weeks and onwards and.
And from what we've seen from the data that we presented in Brooks's reviews.
Some patients lose response on patients gain response, it probably all comes out in the Washington's response rate and you see the majority of the response kind of in the in the early early part of Oh treatment. So so I think the 12 week 20 people you'd that's true.
It's probably couldn't predictive of what's going on.
Okay, Alright, great and then maybe just on your covert comments.
Some data being in completing a completely understandable in people you're offering the trial, there visits and things like that but I mean should we expect some of that to even show up in the UK presentation that we'll see for certain endpoints in patients coming in and out of the not analysis or well that well the type of endpoints were seeing tha be very consistent.
Across all the patients.
Yeah, I think I think for the most part I think we're we're in good shape for the for the DJ update I mean as he mentioned we were.
I had a schedule on patient enrollment and so for the targets that we've laid out for ourselves 25 to 30 patients we feel very comfortable that that dataset is.
It's really well secured and that the data we have there is it's really complete.
Yeah, there are getting there maybe a instances of data points here there that that you don't have a but it doesn't impact the overall.
Good judgment of what we think we have.
Okay. Thank you very much.
Thank you.
Our next question comes from on a pool, Tom Rama with JP Morgan. Your line is now open.
Hi, guys. Thanks, so much for taking the question just two quick ones for me figure maybe on your corporate banking common maybe maybe could expand on the strategies that you haven't played to sort of mitigate wants to follow up data for medicine.
And then second question on the mid year regulatory discussions just wanted to clarify if you'll be into regulators about spectrum.
[laughter] treatment setting so that's first and second line, not and dependent and non dependent.
You should patient not just persuasion family.
So much.
Yes, so I think there's a number of operational considerations to making sure that we can mitigate for a good day to follow up.
With patients and most of these are in line with the guidance the FDA.
Has issued around kind of how to I'd have to deal with.
Ah kind of a patient care.
So examples of this are you know visits can occur by telemedicine and follow up visits drug can be shipped directly to patients from clinical sites.
We've also been able to.
The provision so that if a patient needs to they can they can go to a local doctor's office or or hospital to get your information, you'll labs drawn or or even number I'd done if needed.
We also have flexibility built into the protocol around the precise timing of the you'll scan that need to occur and so you know there's a window around.
For instance, the 24 weeks and that's.
Fairly fairly liberal but.
But if you if you take the scan could've been that window. It still is kind of 24 weeks again I'm. So that there's a number provisions in there that we think ultimately give us a good deal of comfort around run or ability to to collect all the data that we need to collect.
And then with regard to your question on on discussions with regulators I mean, we won't go too deep into exactly.
When and what will be discussed you know.
We view this as essentially kind of in into phase two type meeting where we can.
We view all of the data that we have in hand as part of a briefing package and discuss very strategies that we can use work pivotal program.
Including the design and execution of rented much weeks himself.
But to your question, yes, we would be viewed the data that it's in both the first and second line.
Data as that's part of that discussion.
Great. Thanks for taking your question.
Thank you.
Next question comes from Brian Abrahams with RBC capital markets. Your line is now open.
Brian If your line is muted please UN mute.
Can you hear me now.
Sorry about that so thanks for taking my question. So I'm just just building on the on the last question I'm curious.
Your latest views on the potential regulatory paths for 610. It takes on the last call you suggested a potential openness to open label data supporting accelerated or planning on just curious if you had any specific feedback.
Jay a regulatory consultants on the feasibility or requirements for that and what your latest view would be as to whether that's applicable to just second line or possibly to first line and whether some of the slow down and manifest enrollment might impact those plans.
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Hey, Thanks, Brian.
The question Yeah, I think you know there's nothing that's changed with regard to our I would view on this I think it Neal we've always sort of maintain that our base case to to gaining a regulatory kind of registration and approval would be the randomize phase three.
But we will have a significant amount of data from the expansion what we've done in manifest in the phase two that we couldn't review.
And potentially explore upside scenarios.
I just want to be cautious around that because some of these scenarios really don't have a lot of precedent in terms of the context that that would lead to those types of upsides origination scenarios and so.
No nothing to difference the from from our last discussion on this.
But but it's not kind of what we are a.
Guiding to in terms of the the big cakes outcome.
Got it Okay. That's really helpful. And then you both in your comments in the press release, you really highlighted the.
Locations in importance of bone marrow fibrosis improvement can you, maybe contextualize that a little bit more and talk about the relative importance of that endpoint from a clinical and regulatory paths standpoint, and could that sort of evolving emerge is something that becomes more important topic suite or symptoms certain sub populations.
Thanks.
Yeah, we think it's a really exciting affects that we're seeing we think it's very differentiated from what's seen with with other agents in the disease. Both from a kind of rate of improvement that we're seeing in the patience in terms of the number of patients have seen improvement.
As well as the time course in which we see that improvement occurred and it really speaks to potentially having a change in the underlying disease course, and the disease pathology, which which is I think from a physician standpoint is something that they really wanted to have it but haven't been able to achieve.
Just one way or at least in early way with the available therapies and so ultimately from fast forward to no time. When you know 610 is approved in available potentially for patients to be treated with.
Ben.
That becomes a meter a major driver for for sure for personal prescribing habits and and for use in new according to quite Broadway our hope.
And you know how that can then be used as part of a regulatory discussion I.
I think still needs to is it needs to be seen.
I think I think there's you can't deny that it's actually the the fibrosis that is.
The major underlying pathological to these factors. So when you see improvements there. That's that's very encouraging how that then translate into a regulatory again coin is less clear.
But certainly that'll be something that we can we could talk through in or hope would be that you can you can have that as part of your label down the road becomes very differentiated feature of the product.
Got it if I could squeeze one more quick one in just can you remind us the at the types of patients that would be a in the additional types of additional patients that will be in the cohort.
We see at anyhow in terms of.
Characteristics like in EMEA and risk profile, how those factors have historically influenced spleen response, just contextualize, what we should be looking for out of the abstract and that the meeting thanks.
Yes happy to so if you recall, we initially started this study.
This cohort at least in the naive patients with different referring to by restricting enrollment too.
Patients who are in the next hemoglobin less than 10, you know as we actually got into it we started to see somebody impressive responses.
You know there there was a.
Pretty steady request to.
You know wave that lived that criteria.
And so as we began to enroll patients you know we did see a higher proportion of patients has that were not anemic.
And subsequently we did a change the inclusion criteria to remove that that restriction so that doesn't change.
Change instantaneously as you know that you name. It does work its way through arby's kind of than in the time course that arby's kind of worked that through but but I think you could expect a greater proportion of patients.
Not be anemic compare to what was in the first 15 patients at Ash, which which I think was 13 to 15 patients where anemic I think similarly, we would expect the number of patients that were intermediate one for instance to diminish over time.
We did also amended protocol to restrict patients to intermediate to higher.
In the first 15 patients we only had two patients that were that were internally. We won a bit so that might increase were a little bit as the leader patients.
I think we saw.
Oh, that's part of the baseline characteristics that there were a handful more patients that intermediate one but over time.
Diminished as well.
That's really helpful. Thanks.
Thank you.
Next question comes from like ours with Baird. Your line is now open.
Hey, guys. Thanks for taking the question.
Thanks also for providing all the detail around what to expect Uh huh.
So just just a question about the how abstracts I noticed in the press release, there was a comment that.
Data will include preliminary evidence of disease modification and just curious if you're referring to second line patients there or if you're referring to both frontline and second line patients.
I think I mean, what we'll certainly I guess I can't answer the question precisely.
But maybe we'll say that the at the Ash update.
None of the patients we're far enough along in their follow up.
To have things like bone marrow fibrosis data collected and analyzed and and bye.
By the update.
Many of those patients will be.
So what will be able to us to at least have a chance to assess.
For both firstly and secondly.
Got it makes sense and then just in terms of enrollment in manifests.
Mentioned, a slowing sort of late and late in one Q.
I'm just curious what I know, it's maybe challenging to answer at this point, but how much of a potential delays do you expect in hitting your 100 patients target.
Could it be a few months or could you add some additional sites maybe in sort of make up the difference there. Thanks.
Yes.
I don't know I don't think I can really precisely answer that question. At this point I think you know were the would you already have a lot of sites.
It's a global study.
And so we're hopeful that you know as you'll various cities, you'll begin to loosen and relax.
They're going to lock down provisions that.
That things will start to pick up in the relative near term, but it's hard to really predict how that translates into.
Enrollment rates at this time once we have a better handle or not will.
Certainly provides provide an update.
Yes, I do I mentioned again that we were.
Good you could place where the enrollment perspective in terms of.
Being ahead of schedule and so.
Hopefully our hope is that any any delay that is that that occurs is relatively.
Short, but I can't give you in what precision out right now.
Yes.
Got it thank you very much.
Thank you. Our next question comes from Maury Raycroft with Jefferies. Your line is now open.
Hi, good morning, and thanks for taking my questions. First question is just if you can provide any more perspective into what we should expect in the abstract versus at the conference I guess can you say, how many patients are going to be including the abstract and what other data we should expect in there.
Yeah I think.
We did we did do that as part of the call and slide.
If you go to if you look at slide six kind of leave it all out.
So just to review, though I saw in the abstract available. We'll that's part of the update that we provide around that we think that there will be an update on patients with 12 weeks a follow up in the first line setting.
29 patients.
And and then we'll have the 24 week data for 15 of those patients.
And then at the heart presentation, I 12 week data in approximately 50 patients and 24 week data in 25 to 30 patients.
In the second line sitting across all the four cohorts.
You know a 12 week data.
I'm, sorry, 24 week data from 48 patients and that he had presentation 70 to 80 patients.
Data so fairly fulsome update we think that should that should provide.
A lot of context over the next.
A couple of weeks to tomorrow.
Got it and.
Junior can you save a the hemoglobin data that you reported at Ash in the second line patients that holding up with the larger patient numbers and will that be reported that you have for the first line patients too.
Yes, I cant specifically comment on on the data you know, we're collecting and analyzing it ourselves we've seen you're pretty consistently now in the over the last couple updates. This is impact that we contribute to a particularly this it's seen I think when when you look at the 610 monotherapy data.
And so we will continue to.
Analyze that and report that as we habit.
Got it last quick question, just to clarify and the regulatory discussions for midyear.
Does that mean that.
And have the meeting mid year get the minutes and then provide an update likely later in Threeq you timeframe.
Yeah again, the precise timing is not something that we've discussed, but but but you I think the deep in the order events in terms of which which you can have laid out makes sense can have the meeting and then you'll get the minutes and then provide an update.
Got it okay. Thanks for taking my questions.
Thank you.
Our next question comes from Crippa I've ever with Suntrust Robinson Humphrey.
Let's now open.
Hey, guys. Thank you so much for taking my question I'm looking forward to the data abstract so.
One question was it looks like you haven't had significant enrollment issues with TPH, when we're not callable five or or two and nine.
But an impact on manifest in terms of slowing down of enrollment. So does it have more to do the site or does it have much due to the indications you're looking at.
And is there anything that you can do to mitigate this eat especially this is related more to the indication how might this impact your pivotal trial enrollment later, especially things are not quite back to normal.
Hey, Thanks grip I, it's hard to say, whether it's really exciting and again we have.
A broader array of sites I guess.
That are.
Involved in 610.
You know cross.
You know the treatment centers as well as maybe Oh im substitution. So that may not be put me on a as kind of prominent but.
Since going its global.
So it's hard for me to really I can't really say, whether it's really in you know that's impacted in the positive or negative way.
I think I think the main thing probably driving it is.
It's kind of a disease itself right I mean, I'm, you know and that is more of a chronic disease.
You know patients.
You know has.
Requirements for kind of follow up that make them prone to potential adverse events that you just want to you can mitigate it you you probably should and so that's probably how how there are being managed I think with both 12 or five and O'toole nine you know these are.
Pretty advanced late stage cancer patients that that don't have very many other options and so that would be my guess, but but it's really I can't.
Speculate for sure as to kind of why that would be the case.
I did also want to see macabre five also mitigating factors enrollment is complete there and that would that that we announced that actually in the first quarter of year that we completed enrollment there. So so there is more of just.
A question I'll follow up.
Does that does that answer your question, yes, and so following up on that do you anticipate any impact on gathering enough no meaningful data by the media data cut or.
Have you because your data 'cause it yes.
Star.
Oh for Prostar, Yeah, Yeah, I think similar types of.
You know mitigation factors around a follow up also with.
With a with Prostar, but again I think I think you know with that in mind I think we were in pretty good shape for what we need.
To analyze the data that that we want enlightened at year end.
It's going to make decisions about next steps in that program.
Okay, great. Thank you so much.
Thank you.
As a reminder to ask a question you need to press star one on your telephone.
Our next question comes from though Ken with BMO capital markets. Your line is now open.
Hi, Good morning, Thanks for taking my questions first on the impact of covert 19, you mentioned that you had some supply chain disruptions could you provide some additional details on what that was you said you still manufacturing.
Clinical supply so whether it's just getting the drug to clinics and what contingencies aren't close to prevent similar disruptions in the future.
Yeah. Thanks to so in terms of the supply chain disruptions I'll give you a couple of examples you know for a can of raw material starting blocks that were being manufactured in China.
You know there was a slight delay in getting those raw materials that we that we needed to then you'll make or batches. They it wasn't like they were.
We didn't we didn't get them, we just got them a little bit later than than what we have the timeline and it wasn't on critical path.
And so far as everyone to look across there is not.
There's not any kind of Ah you can a meaningful delay that we can see them on the critical path.
That that could that could could jeopardize the timelines, but obviously want to keep a careful eye on that.
Over time, you know is as we as we've stated we continue to manufacture batches.
And as we do that we are kind of.
Securing the supply for.
The current 610 studies or future Sixtym studies.
You know for you other other programs going a similar similar types of types of things I think I would hope to nine you had you know a small delay in the supply of drug substance of India went into a lock down, but but again eventually we got that a couple of delaying it was not.
It was not on critical path again I.
I think your point looks set to keep a careful eye on it.
And to make sure that we are.
Tracking in the right way to make sure that their supply Oh, no supply disruptions.
Trials.
Great.
And on the competitive landscape inside early this year renewed its Matt inhibitor program, a couple of starting with rocks and myelofibrosis.
And they get.
Credit to your 610 data.
He can talk about what you know about about their drug in and how six tend to pairs in terms of profile.
It's hard so to make a kind of apples to apples comparison, just because I think the parameters and around you know if years bet inhibitors. There, they're also different and we haven't seen.
We haven't seen data to date that that kind of shows a a profile that's similar to our our molecule, but but also I think that the way that the molecules are studies in the Seth is also very different.
You know so for instance, the PD biomarker.
You know that we use focuses on kind of set of claims, which we think as we've talked to them all to the effects that you've seen in a mouse and.
It was with most of the other programs out there they're looking at.
Mic transcription, which was some of the.
Original biology around which bet woods.
Yeah, good started at whole field.
And so it's hard to really make the apples to apples comparison to our program versus competitor programs.
No that I kind of.
Heard about insight comments, where they thought that that maybe they overdosed.
With with regard to.
What they need and they're going in and testing lower doses.
For which they need to establish safety after after being on a whole so what kind of watch as they they take their steps I'm too to understand what they have and if they have something that's suitable but at this point.
You know can't really make an apples to apples comparison.
Okay got it thanks for taking my questions and I hope everyone thinks there.
Yes, hi, you as well.
Thank you I'm not showing any further questions at this time and I like to turn the call back over to key accounted for for closing remarks.
Thank you everybody for joining our call a we appreciate your support and we look forward to giving it a further update.
Sure meeting.
Ladies and gentlemen, this concludes today's conference call. Thank you for participating you may now disconnect.
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