Q1 2020 Earnings Call
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Before we begin we want to advice you that over the course of cool and question answer session forward looking statements will be made regarding events trends business prospects.
And financial performance, which may affect plus therapeutics for sure future operating results and financial position.
All such statements are subject to risks and uncertainties, including the risks and uncertainties described in the risk factor section included and plus Therapeutics annual reports on form 10-K, and quarterly reports on form 10-Q filed with the Securities and Exchange Commission from time to time, plus therapeutic advises you to review these risk factors.
In considering such statements plus therapeutics assumes no responsibility to update or revise any forward looking statements to reflect events trends or circumstances. After the date. They are made it's now my pleasure to turn the call over to Dr., Marc Hedrick, plus therapeutics, President and Chief Executive Officer.
Sir you may begin.
Good afternoon, and thank you Christina and welcome to our Q1 fiscal year 2020 earnings call as Kristina said on Marc Hedrick, President and CEO, plus therapeutics and joining me is our Chief Financial Officer Mr. Andrew Sims.
Once again on behalf of all of US on the plus therapeutics team. We are hoping that you and your families or maintain the best possible health as a pandemic drags on.
Today I'm very pleased to report results from the first quarter fiscal year 2020.
Before I get to our Q1 update and results I would like to update you on the cobot 19 situation as it applies to plus.
20, my team strategic decision to implement substantially virtual operating model.
Serving us well during the pandemic.
Our facilities in Austin, and San Antonio have remained open the lightly staffed with flexible work schedules to provide maximum support for our employees.
Coincident with Texas Governor rabbits executive order effective on April Thirtyth 2020, plus has implemented a phase one reopening plan intended the puts the company on a trajectory to return the business the full operational mode as soon as possible.
Oh Federal and state recommended steps intended to protect the help of employees, while moving towards full operational mode have been implemented.
Over the past two to three months no significant supply chain interruptions have occurred.
We remain in close coordination with our partners vendors to ensure the situation does not change.
At this point none of our employees have tested positive. We currently expect no material impact on results for fiscal year 2020, which ends December 31 2020.
We continue to screen patients for ongoing clinical trial, and we are starting to see some shift away from cobot precautions to more routine hospital operations.
We also continued to make progress in our efforts to add new clinical trial sites.
Related to really we explored the provisions of the recently passed cares law and the P.P.P. program and in fact receive bake approval for a modest PPP law.
However, we proactively determine that as a public company that has continued to work in execute in a relatively normal fashion for the past quarter.
That does it was not appropriate to participate in a program at this time.
As a final point with regard to this issue besides protecting our workforce in Q1, we donated the lions share of our personal protective equipment inventory such as mass gloves, other ppt to frontline doctors nurses and health care practitioners caring for patients, including those affected by the cobot NYPC pandemic.
As a supply situation has changed we're now able to replace that equipment with no adverse corporate impact.
Well certainly the highlight of the first quarter was the announcement of a significant addition to our portfolio and pipeline.
The drug candidates, we have added hold the prospect of redefining the way, we treat brain cancer and many other poorly met cancer indications.
Related lead this Monday, we announced the closing of this transaction.
We believe strongly that this recent transaction.
Is illustrative of our scientific business and investment values.
Beyond just the assets themselves, but plus therapeutics as a whole and as a public issuer.
We think that these additions to our pipeline redefine more than the way, we may one day treat brain cancer and other cancers, but the way shareholder should view this company more generally going forward.
After the transaction itself, we license multiple rare cancer drug product candidates from the private Texas based Biotechnology company Nano TX therapeutics. The transaction terms. A brief review included an upfront payment of $400000 in cash and $300000 plus voting stock.
Furthermore, the company may pay up to one.
Hungered and $36.5 million in development and sales milestone payments in a tiered single digit royalty on U.S. and European sales.
The lead in license drug asset is a key related rainy Amana life. So also called RNL initially being developed for recurrent glioblastoma brain cancer.
Well ornella's similar in some ways to break if therapy.
In which the radiation has delivered by implants in an inside out fashion.
Rather than outside in for the radiation as is the case with external beam irradiation.
It differs though and that the radiation is delivered as a drug in fact summit called this approach liquid braking therapy.
But but importantly, our approach is more versatile and confers many technical advantages over both traditional breaky therapy and external beam radiotherapy later in the call I'll provide more background on the newly licensed technology.
But I'd like to first put the 2020 transaction and strategic perspective.
And 29 team plus therapeutic successfully execute a significant corporate transition putting in place all the critical unnecessary elements to be a platform company for developing innovative clinical stage pharmaceuticals.
This transaction expense not only our pipeline, but enhances our leadership positions and nano technology, Chemotherapeutics and radio therapeutics for rare cancers and other diseases.
This 2019 transition involve key financial transactions.
Pipeline Reformation corporate rebranding rebuilding of our core operating team.
Virtualizing, some key functions, where possible and geographic relocation.
Ultimately these moves provided the company with the financial strength development focus and cost structure to put the company on a more durable path long term viability and grow.
[noise], we worked hard over that timeframe to achieve this transition and we are equally excited about this transaction that we just announced the closure of this first licensing transaction is inherently consistent with our publicly stated strategic games mentioned frequently in the last three quarters.
Typically strategic expansion of our pipeline cost efficient development via more virtual drug development model, while leveraging non dilutive sources of funding.
A clinical focus on oncology and more rare poorly met indications and finally, leveraging our expertise and novel drug formulation and Mandalay persons.
Also as we noted previously in our plan, we prefer to invest and drug candidates that meet three key criteria first they address unmet or substantially underserved medical need second they can buy known active pharmaceutical ingredients that have extensive safety and efficacy information with new technologies that improve.
Both safety and efficacy.
And third we prefer that they have at least a 250 million dollar addressable market opportunity on an annual basis.
Drug candidates in this most recent are in L. transaction check all three boxes.
As mentioned above the license drug portfolio consist essentially of Nanoliposomal encapsulation radio nucleotides and related technologies potentially useful to treat a number cancer targets that don't have good treatments today.
The lead drug asset Arnelle as accumulated rainy amana lysosome initially being developed for recurrent glioblastoma.
The newly license Arnaud platform was developed by must multi institutional consortium based in Texas Amaze Cancer Center, you T. health, San Antonio and MD Anderson cancer centers.
It was led by the steam neuro oncologist Dr. Andrew Bruckner.
Ornella's infused directly into the brain tumor be a precision brain mapping and convection enhance delivery technology.
[noise] that allows to delivery a very high therapeutic doses of radiation to patients whose cancer has rickard following initial surgical resection and treatment with chemo radiation.
And colloquial terms.
Our now is high caliber precision targeting of as much as 30 times, the typical dose of radiation directly to the tumor.
It's a rifle shot of radiation to the tumor target and only the tumor.
Unlike a shotgun blast that is typical of external beam or radiation that affects collateral damage to the surrounding normal tissues and in the case Glioblastoma, that's normal brain tissue plus the other structures of the head neck and face.
Furthermore.
It's a single rifle shot delivered once.
Unlike standard external beam or radiation that is delivered day after day four weeks in order to achieve a tolerated cumulative dose.
More sign typically are now.
As a number of technical features that give it manages over other approaches to glioblastoma and potentially other tumors.
First very high doses of delivered beta energy radiation, perhaps up to 30 times external beam radiation or you'd be arty.
Our deliver to the.
Iridium 186 isotope is a dual energy emitter, it's made it a nuclear reactor delivers both the beta particle or high energy free elektron to kill rapidly dividing cancer cells.
But it also emits gamma particle for imaging person purposes, So doctors know with precision where the radiation is at any time after treatment.
Three it has a long half life or time on tumor.
Of approximately 90 hours.
For specificity.
Specificity in that it's delivered beyond the blood brain barrier directly to the tumor with novel delivery in imaging technologies.
Hi.
It has tumor micro fields.
The increase each really EMS, Adam another two to four millimeters to help reach residual non enhancing tumor.
Six it's metabolize safely by the kidneys without collateral damage to local structures and radio sensitive sensitive organs, such as bone marrow very similar to I won 31 for thyroid cancer.
As I mentioned the lead indication is for Glioblastoma.
And Dr. Brenner and his colleagues have developed this patented technology with the concept that it made prolong survival in patients with recurrent glioblastoma a cancer the that affects about 12000 people per year in the U.S.
And for which there are currently few approved treatments that an aggregate provide only a marginal.
Survival benefit.
And notably essentially all primary tumors recur after initial treatment.
Even today radiation therapy or E. B R. T is the most effective component of the standard multi modal therapeutic regime use in glioblastoma today.
[noise] multiple randomized studies show five month improvement in survival with E. B R. T irradiation compared to an additional 2.5 months with the addition of chemotherapy and three months for tumor treating fields.
By infusing the arnelle drug directly into the tumor bypassing the blood brain barrier normal brain external tissues are spared from radiation damage.
In the case of these drugs the mechanism of action is unambiguous, we know radiation in the form of high energy electrons is effective against Glioblastoma.
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Inadequate does can be effectively delivered.
For comparison current external beam radiation protocols for return recurrent glioblastoma typically recommended total Max dose of about 35 Gray.
In contrast, the most recent patient dose with our now and our clinical trial received over 500 Gray.
In terms of the current clinical trial status.
We're currently in the U.S. FDA approved phase one dose finding study at a single site in Texas that you tease San Antonio.
The actions underway to expand the two additional sites in Texas, specifically UTI southwestern an MD Anderson in Houston.
Thus far we are now in the fifth dosing escalation cohort.
The radiation dose and the current cohort is now at approximately 15 times a dose that is typically delivered by external beam radiation.
Higher doses in volumes are plan and subsequent cohorts.
And no serious adverse events have been observed thus far.
So not powered for intended to establish efficacy.
The first two patients in with in which significant tumor coverage with Arenella's achieved survive for 30 and 33 months respectively.
That is compared to median survival of about six to nine months in patients who receive standard of care.
Additionally.
The technology has substantial third party review and support.
It was previously granted funding by the cancer Prevention and research Institute of Texas.
And in addition, currently the technology is funded through its phase two trial by the National Institutes of Hell Slash mass National Cancer Institute.
Beyond the use of our announced real Blastoma.
Our team is enthusiastic about this technology because the same product candidate.
Works the same exact way is in preclinical development for several additional indications, including breast and head neck cancer.
Let them, an NGL carcinoma, ptosis, and liver and ovarian cancers.
The ability to get Super high doses of high energy radiation.
Precisely to the tumor only could be a game changer for some of these tough clinical problems.
Even prior to the close of this transaction, we began a very active analysis a follow on indications for the are in L. technology.
Also there was much data already published in available or referenced on our website.
Please refer to that for more information beyond what I can deliver in this call and expect more on these additional indications in Q2 in Q3 from the company.
Regarding next steps for the are now program.
Sides advancing the pipeline in Glioblastoma, we are working to complete enrollment for the phase one trial, even as we begin preparations for a follow on phase two a pivotal trial.
And we will also determine applicability for at the accelerated or fast track designation is in the U.S. and appropriate orphan designations globally.
Regarding our other two clinical stage assets dose of plus Indoximod plus.
We currently plan to further their development only with partner support we are it happen in such discussions but at present, we are focusing resources on our in now and its development.
Additionally, we continue to review a number of other co development and licensing opportunities to expand our pipeline.
So if those comments, let's turn the call over to Andrew for a view of the quarter Andrew.
Thank you Mark and good afternoon, everyone.
I'll be discussing plus therapeutics financial results for the first quarter of Twentytwenty, that's presented in our earnings release today.
Our Q1 Twentytwenty operating cash burn was approximately 1.5 million compared to 3.3 million in Q1 2019.
The reduction in annual cash fun was mostly related to discontinued operations, which resulted from reductions in operating expenses.
The net loss for Q1, Twentytwenty was 1.1 million.
As compared to a net loss of 3.2 million in Q1 29 chain.
The decrease in net losses, mainly related to discontinued operations of zero point Sevenmillion and the change in fair value the warrants of 1.7 million.
Research and development expenses in Q1, Twentytwenty, our R&D expenses was there a point 9 million versus a 1.4 million expense in Q1 2019.
The decrease in R&D spending was primarily attributed to a decrease in spend as a result of discontinued manufacturing subsequent to the sale of the company's former cell therapy business.
R&D expenses will increase in Twentytwenty as investments are made into development bardell.
Now onto our sales and marketing.
Our sales and marketing expenses remain consistent on a quarterly basis at approximately 0.1 million.
Gene expense was 1.5 million this quarter as compared to 1.4 million in Q1 29 scene.
Q1, Twentytwenty increase was primarily driven by increased professional fees, which was offset by a reduction in personnel expenses when compared with the same Korea than 2019.
Now with respect your revenues Q1, Twentytwenty total revenues was there a point 1 million, that's compared to 0.7 million in Q1 2019 DKB.
Revenues is mainly due to the close out the government contracts with BARDA.
Turning to the balance sheet.
As of March 31, Twentytwenty, we had 16.1 million of cash and 9.3 million of debt principle.
Subsequent to the quarter and as disclosed in form 10-Q.
We amended our debt facility with docs, Oxford, providing additional flexibility by pushing out interest only period through May 2021, together with paying down 5 million principal, leaving a remaining principal balance of 4.3 million.
Our liabilities of 20.8 million March 31, Twentytwenty compared to 22 million at December 31, and 29 team with the main change relating to the decrease in the warrant liability.
The warrant liability was 5.2 million at March 31 Twentytwenty.
As disclosed in the company's 8-K filing on April 23 2020.
Company entered into a revised warrant agreement with the holders of 3.372 million series you warrants in return for reducing the strike price at the warrants the warrant holders agreed to amend assessment provisions.
Fundamental transactions such that the warrants would meet the requirements for equity classification on their own authoritative accounts in guidance.
The company expects an equal twentytwenty approximately 4.2 million of warrant liability will be recall, so the equity section of the balance sheet.
In addition, approximately zero <unk> point Sevenmillion of other income representing the change in the fair value with amended warrants from April one twentytwenty to the amendment date will be recorded in the statement of operations and other comprehensive income or loss for the three months ending June 30 of Twentytwenty.
Now I'll turn it back to your Mark.
Thanks, Andrew.
Let me, let me finish up before Q named discuss progress on our stated 2020 milestones.
Thus far in 2020 as guided we have announced and closed or in licensing transaction for on.
And executed a complete be structure.
Andrew mentioned.
Going forward for the remainder of the year, we intend to optimize the regulatory and clinical program for our now for glioma.
And obtain FDA feedback on next steps.
Two.
We tend to substantially Arpus don't upgrade the supply chain personnel as well as the manufacturing controls and scalability the product.
Our late stage clinical stage clinical trial standards.
Three.
We intend to expand the phase one trial from one to three sites.
Sure.
We hope to complete enrollment of the dose finding study for our now assuming the current 19 impact.
It's not increase.
And report that data and work to publish that data in a publication subsequently.
But we tend to work with the agency to develop a phase two pivotal study plan for Glioblastoma.
Six.
We intend to complete our internal review of additional indications for ARYMO, ER and execute any required I in the enabler.
Well introduction.
Studies required for clarity.
Seven well continue to be aggressive, but how do you discipline in assessing new pipeline enhancement opportunities for the company.
And then we'll continue partnering discussions with the goal so finding strategic development partners or.
Programs are in L. dose of plus and docs footprints.
For Threeq.
With that I'll turn it over to the.
Operator.
You know for any questions that might be in the Q.
The floor is now open for questions. At this time, if you have a question or comment. Please press star one on your Touchtone phone if at any point. Your question is answered you may remember yourself from the Q by pressing the pound Dickey again, we do ask that while you pose your question you pick up your handset to provide optimal sound.
Quality.
Thank you and our first question is coming from Anita dish, one it with Zacks investment.
And thank you for taking my questions.
Congratulations on the quarter.
Have a couple of questions regarding be yeah phase one trial yeah.
So regarding the cohort I know you mentioned youre.
Rolling currently cohort five.
HM.
We actually need so don't hold me subjects they are totally.
Maintain how many cohort.
Huh.
Thanks, Andy to thinks is Andrew So I see I think we plus Mark do you have to make do with the CFO Onstream, Oh, Oh, Yeah, I'm, sorry, yes, Yeah, I think I lost the lanes wasn't it was pretty quiet Oh, what are you able to I heard your question Anita Okay. So.
The money if I go ahead and going into it.
Sure Okay.
Okay. So.
Yeah.
It's it's either she dose escalation dose finding study protocol would be three cohorts and stuff safety and moved to the next cohort so thus far.
We've been rolled 13 patients and where.
We pay the first patient and the fifth cohort.
And in each cohort their escalations not only.
In terms of military but also in terms of volume because tumors have different bottoms.
He is.
I think one way.
My guess is that there will be somewhere between six to patients before we finished the trial.
The trial has been holding relatively slowly because there's been one site. So one thing we hope we can do as as the new sponsor is come and helped facilitate given new t. southwestern in Indiana and up to speed quickly. We made progress even in the enterprise closely as battle that two new sites that are enthusiast.
What about contributing pages the trial.
That's great they get and as a follow up to that I was wondering I'm pleased to see.
And it's comparing like are you looking at the of response rate and be survival.
Yeah.
I said outcome.
And what would that timeframe before that.
Yes, so yeah. So currently in the.
Hi approved grant and that the clinical trial it would be a survival.
One of the things that we're looking at if we work with the Uh Huh.
The P. eyes with the trial is to look at ways that we might be able to accelerate that trial and maybe look at surrogate endpoint potentially effective response rate.
And an expedited path to the clinic so.
So I so right now I think it's just it's premature before we talk the agency about ways too.
Optimize the clinical strategy to talk about.
This point.
Right.
Thank you and Dan and I know you indicated that you notice is that really addressing unmet need are you in conversation DFT regarding a applying for fast track designation.
Just a nation.
Yeah, Good Reight point.
So.
Have you close the transaction last week. He answers. So we haven't we haven't been really authorized to communicate with the agency. This high priority list, we think theres some opportunities there around.
Orphan designation accelerated approval and and fast track or potentially breakthrough assume the data support that so that's the tone I've heard priority list to explore since we get in meaningful feedback from the agency will make the public.
Okay, and just one last thing from here from me what a other possible indications.
Yeah, all right now and has the potential I think you mentioned.
Head and neck intense.
Okay.
Yeah. So.
Yeah. So that's a that's a great question and it's a hard question to answer.
Without without a lengthy response in so they're number of published papers that I'm happy to share with you offline to make available fully to you, but the things that I'm most excited about our.
A recurrent head and neck cancer and the reason why is those tend to.
Occur locally and I've plastic and reconstructive surgery I agree reconstructed the number of these patients that have very disfiguring.
Lesions that maxed out on radiation therapy, and they really have nowhere to go once they recurrent typically.
Around the side of the original tumors are our suture line. So.
It would be much simpler even for glioblastoma to identify the tumor and Jack the are in L. compound directly into the tumor to get coverage of the tumor since we did the inside out radio therapy of the tumor. So that's something I think that's very promising potentially the other.
Thing that I'm interested in.
Is there except a very and on the same thing. It's one left them annunzio carcinoma, let them in Israel carcinoma is increasing.
And number there, perhaps a 100000 plus patients in the U.S., who get carcinoma ptosis in the let them in Ngs and then really no. Good treatments for it although the primary treatments are getting better that once that complication occurs there really know get treatments. There was there was one drug that was on the market called people site that was read.
Suddenly removed over the summer it's no longer available. So I think that's a real opportunity in the the part B of that is fair deal carcinoma doses.
Which is accomplished complication of a number of other gastrointestinal cancers in particular ovarian cancer, which often present very late in the course, because it's typically a call in the early stages.
And there have been no really good treatments for treating nodes at the parent meal.
Metastasis. So I think this in his preclinical data on everything and I'm and bringing up with you. So.
There there are encouraging preclinical signals I think the next step for us is to figure out.
Within this group that I, just mentioned and a group of other indications that we're also looking at which are the most promising which make the most sense to pursue and then figure out what's required from an i. I'd, enabling perspective to get those into the clinic.
Thank you. Thank you that that definitely you some clarity Oh I like looking at Oh, the all from me and Dan You know we look forward.
The results from the city coming this year.
Thanks again.
Thanks for your questions Anita.
Your next question comes the line of Ed Woo with Ascendiant capital.
Yes. Thank you are talking back on the part question because of the number of indications do you believe that you would just be focusing on one other indication or do you believe that maybe you'll be focusing on multiple indications that the same time.
Yes, he edits mark good question.
I think it's it's partly related to the availability of capital I anticipate.
Looking at at least one other indication and determining what's required with the agency to move that into the clinic and then it will depend on.
On the capital availability one.
One strategic reason, we moved the company to Texas is too.
Have availability of the the separate related funding as I mentioned this are an l. technology. Its previously received an award through separate.
It doesn't have current funding is its funded through the anti but I think there are opportunities.
With separate to fund additional indications that our hope is to leverage that as well as other non dilutive sources to do that but I think.
I would anticipate us as you know.
Being cautious cash it's important now in the current environment. So I think we'll we'll take up we'll take a very cautious approach but.
It will make that clear in terms of our of our inclinations. Once we've completed our analysis.
Great today and are now are you mentioned that you have funding through phase two.
Through the National Cancer Institute is that correct.
Yes.
That sounds a that's a great have you got the funding already or is it all kind of a work in process, where you do that development has been kind of get reimbursed back or how does that work.
Yeah, So no so the the.
The fundings awarded but maybe a backup exec. So one of the one of the things that attracted us to this indications not only how innovative it was and how potentially game changing it could be to a number really pesky.
Ecologic problems.
But.
It had it had just received when we got to know the company just received NC I funding through phase two so that's predicated on a.
Okay.
On a on a trial and critical approach, where there's not a corporation involved so our plan is to build off that.
That anti funding and do what we can do to accelerate enrollment and.
Bring the supply chain and CMC as to what we think are.
Our.
Commercial standards, and scalability and and controls and so forth and that's going to require some capital. So that's not that's not dialed into the the roughly $4 million that the the anti is awarded.
Now in terms of the cadence of the awards generally as you know at with those types of grants it tend to occur overtime in there there are granted yearly.
So that the script pays out over a number of years.
And the pace through phase two but but this is actually the first year of the award so yeah that that award has been issued.
Great and then on moving back to our Doxil placental surplus or has there been any status in terms of looking for partnerships on those are.
Drugs.
Yeah nothing to report.
I think as I mentioned in my prepared remarks at this point, given our given our excitement and.
The the innovative nature of the Arnaud programs as we force rank our internal opportunities than had been it's been increase greatly since we added this assets I think it makes sense too.
The focus on partnering and thus far.
There is interest.
But we haven't seen the right deal and the right partner. So we'll we'll continue to to invest some time and effort and to finding the right partner.
But I would want invest any specific dollars and further developing those programs those will go entirely to the Arnelle program.
Great well, thanks for the update and good luck.
Hey, Thanks appreciate you participating and thanks for your question.
Once again, if you do have a question you May press star one on your Touchtone phone at this time.
And you do have a question for the line of Jim Fitzpatrick with a waste.
Nice job today, Thank you for walking us through this so if I look at your cash position and.
Reducing your burn you're in a pretty good position for the foreseeable future is that correct.
Yeah, you know is hey, Jim Thanks for thanks to the question I would say we're at a much better position then the company's benefiting in quite a while so yeah, we're where we're at a good position as it relates to the Arnaud asset, particularly given the fact that it.
It's become sort of Prefunded, if you will.
Right and then do you see youre burning cash position changing in the future or is that a pretty good run rate.
For the foreseeable future.
Well I'll tell you I'm going to invite our CFO Andrew since the two to answer that.
More specifically, Andrew do you mind.
Sure. Thanks, Mike.
Jim as per the.
Thank you. We just released we finished Q1 was just have a 16 million a cash.
We as I mentioned earlier, we restructured the Oxford facility and made a principal payment 5 million.
In early April along.
Depending on the requirements far in L. development, approximately 12 to 18 month cash balance without raising additional capital.
That range is driven by the speed of enrollments in development of all right now.
Managed to be as aggressive inefficiency in the use of cash as possible.
The same time, making rapid progression in the development of most of that assets. In addition, we'll utilize non dilutive sources of capital such as the NIH Grant the Mark mentions a separate which you also mentioned by then partnership dollars.
The final piece is.
The company in the POS is leveraged an ATM equity line and we intend to put one in place later in this year and obviously use it very carefully and a if and when it makes sense to do so.
Uh huh.
Excellent collison for consideration at that time.
Yes.
<unk>.
Thanks.
And you have no further questions at this time I now turn the floor back over to Dr. hedrick for any additional or closing remarks.
Thank you.
Yup.
I think the close I'd like to I'd like to just.
Plug.
A video that's that's coming on the technology, you may have seen tuesday's announcement, where dr. Andrew Bruckner.
Because the development leader of the are an L. program academic neuro oncologist and Texas is scheduled to conduct a life patient focus webinars entitled.
A promising new radio therapy for recurrent Glioblastoma, an introduction unquote.
That will be on this coming Sunday May 17, 2020 at seven P.M. eastern.
[noise] event as part of some of them you sell a foundation Webinars series to presented live on the foundations web site at virtual trials Dot com forward slash webinars forward slash through resume.
Complete dial in information is in Tuesday's press release, which you can find on our website in the Investor section.
There's no charge for the event, although the foundation welcomes donations.
We are participating in the presentation as part of our recognition of Mays brain tumor awareness month.
So with that I'll, just thank everyone again for joining us today much more information can be found it or web site, plus therapeutics dot com and on our Linkedin and Twitter social media sites.
As always on behalf of the board and management. Thank you for your support of plus therapeutics and have a good evening bye bye.
Thank you. This does conclude today's conference call. Please disconnect your lines at this time and I have a wonderful day.
[music].