Q3 2020 Spectrum Pharmaceuticals Inc Earnings Call
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Ladies and gentlemen, this is the operator. Today's conference is scheduled to be in shortly. Please continue to stand by and thank you for your patience, Thank you for calling to schedule.
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Require during the conference. Thank you later life going to today for pharmaceutical for 20 28 result, cool order earlier this afternoon.
Available on our operator have u w e r x. Thank you for joining us today, Georgia on the call today Pharmaceuticals are under it accordingly other players and answer is always call yo, our third quarter an age limit on out earlier this afternoon if it's available on our website at ww.w Uncle Edward. He PIR a statement in today's press release. Join me on the call the day from just I noticed m2070 is Red Ribbon an errand TV out looking statements and all about GM medical statements are not guarantees.
Tease of future performance we get started. I would like to rough it or not didn't notice regarding forward-looking statements or loaded Joe's Crab sherilee involve known and I don't notice them either the major run search made that. So, let's see here. After differ materially from any comments are not guarantees off of that statement.
Such forward-looking stay that let me tear leaked all over there and ready to surrender which may cause them to finish has already took the rest or implied by birth to it took a call back for our status quo.
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A million in the. Non-gaap basis losses primarily related how to decline in the market. Thank you. And what is the value of our Securities or long that Law and Order order with 48 gazillion vs2621 have Parable. It out here nineteen.
On a non-gaap is the quarter which are $20 cash value of our copy security has balance for for lost of the water was a Marine in Late July the wage board and half million in the prior year. Operating cash burn, which is the best measure. Order. What is 8.328 million has the security this is consistent a club the last seat of our financing and let you July there were plenty of Runway dead.
Operating it's at all which is a measure of our ongoing that flow.
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Every month and then lastly you want to take about like I I I the you repeat the question I am tired of birth.
Can you repeat?
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To try and so whatever we need. I'm assuming you know, obviously we're going to have to get off till so normal when you be a review of the Wisconsin one of the month. I I asking you don't think we can do get you to the dealer sales of it, you know, you know, I assumed answered all of them for a long question to Thursday.
You get into a discussion, you know of in about like they labeled going to have to so wait until can communicate it normally when you have that we have a review have been to of a bendo's or any type of the San Diego. So that one is Alyssa pause last thing to do from our perspective once a month to barely we have, you know, this, uh that answered inspection the question issue that you get into a discussion, you know, we sent about I think we'll be able to get so uh arrived in a communicator timely fashion shared with him, but you that we know we don't have any have been exact and in those type of the month gotcha. So on on that support Posey, whatever from a specific Lee clearly we can you repeat the section birth.
Inspection an issue. I mean to hurt it's not far but you know, we will like, you know hit the same argument with that part to you know, we don't actively have that big meeting in the first quarter. Maybe it rather than imposing wage. I think Lee alley tell you I mean, you know what I can do repeat the tell you question that we I mean agreed but he's not far behind in like, you know, if it is it might say something Yaar give you a tight fit with the meeting. I have that meeting in the first time ago quarter. Maybe I'd rather than just immediate we need to do well, I mean you have declared dead.
But I connect to Riano can tell you is that when yeah, we've achieved a this agree. So we're not going to wait we're going to change as time. We've indicated see meeting. Do you we agreed the you know with the schedule? So we're going to time ago and have to meet long as too clearly what we need to do. We have two shared with a declared and victory on online cords and Round Rock Quarry this and they so they are not going to we're we're that's going to Foolery and forehead or and as we've indicated also wanted to you where they are exploring Alex Cameron cool towards going to have to be eating so, you know, clearly they they're fully aware of birth.
We have that and shared with know at the end of the meeting. I'm online sure. It's going to come up for around discussion all are cold and hurts. And if they want to they are seeing before Iraq war well that you know, we have cord may do the tree and test but for and you have to remember there also a door into where of dependent or core tricked them to record positive or negative. So if you know, there are full of should not be aware of all that and it's no record the meeting to make sure it's going to come up for discussion and if they want to see it, okay, great. Thank you. You know we may do with like you have two remaining defendants question comes from the dead.
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T-Wayne right. My question is open Thursday order yet. If you if you are hiring. Yep, sixty s a m g e sorry. Hi. Hey guys. I was on for the loan bunch. And I think it would time and it was like that big my question since I have a 2018. We're already hired first. Are you continuing the role on with that higher risk launching now, are you getting when you were putting it off Thursday? And he said you were looking for looking at about hiring the titanium about I mean to fix the potential to FTE for the birth.
And I think it was commented that how are you? So you're you're fired off you continue X coming with the highway currently hiring nav, or you can play one of those or your 60s putting it off t e g here in the room or remaining about ft each of these timing to argue with potential dated to do that. So the 29th, how are you born are really so your focus you're in the medical Affairs selection is Larry Brett Market. We currently have to log into the 60 field leadership. FTE is in so the remaining folks are actively engaged in our generation after you that wage.
So we want to make sure we're being scheduled on the ready tool and can so they pull that trigger $20 on that are on board in line with the fda's inspection. So we want to mitigate our burn and spend for the remainder of the customer-facing staff. But we do have the the 21 ft. He's that are actively finalizing our preparation efforts.
And we'll be ready to go when the agency gets to the facility.
Great. Thanks, Tom.
And so maybe a couple of questions on Posey one Francois or the cohort for?
When can we expect to see data and will that data be on 70 patients at the 16 or is that going to be data on 70 patients Thursday at eight milligrams v i d i mean, they are both 60 milligrams of them. Just wondering how to think about the data and the timing so we we took you know on the basis of the pharmacologic modeling on the fact that we had seen in court one and two some, you know, fairly high dose Interruption and dose reduction. We had decided that we you know, we would explore some other way of giving the drug and the data is Life coming in as we speak if you want so the original end for cord for I believe it's 70 patient and we yep.
Aspen row maybe a little more than half and roll that's sixteen once a day and you know, we're going to we are currently on track to add seventy Pages ID. So on cords for so in other words the same assumption would stand we will discuss with the FDA at the meeting if they you know continue to agree with what we're doing or if they would prefer for us to to do otherwise so I can't answer you today other than say we will have definitely more and the original end at sixteen em, you know, one way or the other and see if we need to go back to 16. We will do it after you know discussing the matter with the FDA.
Okay, thanks. And maybe I'm cohort five, you know, you mentioned you have over a hundred patients to date and you stop the 10 mg dose as sub-optimal. I'm just wondering now looking at the 6 and 8 milligram b i d dosing where do you stand for the number of patients? So, you know when we do see data and if you have any time line from when we'll see data, but you know, that would be appreciated. But how many of them were in that that ten milligram dose that was suboptimal.
Yeah, so we you got to remember cord five started by randomizing patient to 10m and 12m home or sixteen em once a day and then we amended it stopped enrolling at 12 and and random Thursday 16 once a day and more recently. We've been randomized patient at ten and twelve program and then the b i d and I'm sorry, not that well the 10 and the six and eight d i d so, you know, we're so that's what I'm reporting to you here that we have a hundred ten patients. The reason that they were mentioning. The number is simply because number of company have you know indicated that COVID-19 at affected negatively der enrollment and we did see yep.
You know a transient impact on our enrollment, but you know, it's going pretty well now and the fact that we stopped ten milligram and we did not issue a number but let's just say that there's enough patient for us to make a decision as to that, you know some certainty around the 10 mg.