Q3 2020 Arbutus Biopharma Corp Earnings Call

Chief Financial Officer.

Bill will begin with a summary of recent accomplishments and upcoming events and a review of our beautiful corporate objective.

Followed by Dave Hastings, who will provide a quick recap of are viewed as is key third quarter financial results.

Well then open the call for Q&A.

Before we begin we'd like to remind you that some of the statements made during the call today are forward looking statements, including statements regarding X.

Expectations timelines in clinical results for our <unk> proprietary HBV pipeline.

And it's COVID-19, preclinical research efforts achieve.

The cheeseman of the company's 2020 objective.

And it's expected cash use some cash runway. These forward looking statements are subject to a number of risks and uncertainties may cause actual results to differ materially including those described in our most recent annual report on 10-K quarterly report on form 10-Q, and other periodic reports filed with the SEC from time to time.

I would now like to turn the call over to Bill call you.

Thank you and good morning to everybody and thank you very much for joining US today. We appreciate that it's a very busy time for all of you.

So we'll keep our prepared remarks short and allow as much time as needed to address any questions that you have.

To begin I'm pleased to report that despite the ongoing challenges of the COVID-19 pandemic all team continues to execute efficiently and effectively and scientific clinical corporate operations and timelines all remain on track.

As described in the press release. This morning, we expect to present additional safety and efficacy data from a ongoing phase one a one b clinical trial for all lead clinical candidate a b 729.

At an upcoming scientific conference specifically at a a S. L D.

We have an oral presentation, which will be supported by a press release on Sunday November 15th.

And we will also host a conference call and webcast. Following the presentation of the data before markets open on Monday November 16th.

During this November 16th Conference call will review the E. A S. L. The presentation, which includes results from off first multi dose 60 milligram cohort in which subjects have being dosed every four weeks.

Will also review follow up data from the 60 or 90 milligram single dose cohort.

This clinical trial is on track to initiate in the first half of Twentytwenty, one and is expected to enroll approximately 60 virologically suppressed patients with chronic HBV infection.

Subjects will be dose for 48 weeks with a 24 week follow up period.

As part of the collaboration the companies May add cohorts in the future to evaluate other patient populations and or combinations.

Now as most of you know AB 836, our lead oral capsule inhibitor is currently in Ceta R&D, enabling studies.

And is expected to complete these by the end of this year.

Our COVID-19, preclinical research efforts as well as our collaboration with the COVID-19, R&D consortium, whose mission is to find molecules with the greatest rationale for advancement into clinical trials.

$6 million.

And we made a two and a half million dollar equity investment in Dunavan in July.

These cash outflows were offset by approximately $66 million of net proceeds from the issuance for common chair.

Under the are viewed as a T M program.

The company believes if any third quarter cash cash equivalents and investments of approximately $118 million or.

Are sufficient to fund the company.

Into mid 2022.

So with that the Bill will turn to call back to you.

Thanks, very much Dave before beginning on Q&A session. I'll just quickly review all beauteous is key objectives for the fourth quarter of 2020.

If you add a number.

Without specifying what time point would be measuring that BK is a little bit challenging and obviously, we're not in a position to disclose at this point.

What time for we're going to be providing the essence.

Decline data.

Okay. Thank you I just have one other follow up question about the status of your collaboration.

Seven to nine with assembly.

Do you have any sense of timing of that data.

And the good question we haven't.

Got it to any specific.

Do you think about what is being from the.

Is more advanced Spears, and you know that there seems to be.

B B C. A b got some there in the 1.5 to do log reduction.

So is that is it I mean, you're seeing that with your Lord knows I I think it was some there.

The main was one but you know you had a hyper responder, which which again with the multi those you know could be higher cause that was a single those data read that'd be so so just help us understand what what good looks like for 60, Meg and also 90, Meg and then what time 0.2.

You know competitive and also you know what what is the element of differentiation that you're targeting.

So uhm, obviously I can [laughter] I cannot give away the debate today.

Basically what what we've shown is 69 P 180 resolved on average.

It's important to highlight the tomb average was hoping amount of one look decline.

12.

So I think it suffices to say that with both of those in beta will be showing date of the young with 12.

And with a single those will be showing data beyond with 12 as well so I think the.

The fact that one continuous dosing versus what happens with a single those will allow people to throw some conclusions.

Okay, Great and then just moving on to the the gaps it going over there.

I understand that assembly collaboration in the specific study is still in the rugs and you may not have made choices on what those on 729, you know it would make sense, but I'm just curious.

Could you just lay out how does your in and done Lee owned 8836 program specifically benefit from what you learn in that study in terms of you know the studies you may do starting with L. D wasn't there, but also you know I did think about combinations cause I mean, you can learn a lot from.

You know externally.

What what everyone else is doing including the January leave study, but I'm just curious as it more about you know how 729, specifically you know combined with Corcap said.

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Give me just to help us understand the rationale and how how to think about it.

Yeah totally let let me begin and I'll I'll I'll I'll Scouts done just to kind of follow through so I mean, you may remember that we've always had an ambition [noise] adult beaches to combine 729 with a with a cabinet.

And we could've done up with one of our earliest capsid, except that that particular molecule didn't progress.

Mm mm, we're now in a situation, where we have to just wait 4836 to complete its I N D and I've been studies and then you know phase one study early next year.

So it it seemed to US doing this collaboration with assembly was both a great opportunity and an expedient way to to move quickly into a proof of concept combination study that looks at both the jewel therapy and also the triple therapy, because it's a phase two.

To open label study.

You know, we'll we'll be getting some some readouts as the study goes through and I think all of that plus as you say you know analyzing what the competition is doing in this study's will help us inform you know the right structure and elements of Ah Ah.

Of a of a study that we do with 729 and 836.

Do you want to add anything else got stone.

Yeah.

The thing that I think we also would be nice to hear from Mike on this but let me start with my my.

Thoughts on why this is important.

You're right I mean, one could learn from other studies, but you can ask other sponsors to do.

Certain things that you would like to exploring the study and I think that's one vision to what Bill mentioned, that's one will be advantages of doing this study both assembly.

Assembly and us have very unique technologies in terms of Biomarkers immune biomarkers.

Tomorrow Biomarkers that we can apply and we will be applying for this study and we can go very deeply into the understanding of the effects of the combination of the class being the captive in television during the class being seven to nine and the milk. So yes.

Your point you can learn from others, but you can always ask others to do the experiment that you would like because it was so I think that gives us a unique opportunity.

And then I mean Ah direct developer I'll tell you what.

You can learn from other people are gonna say, what what what happens when you're drunk even if it belongs to the same cloth, you'll always have to show that your class your drug belonged to a certain class and is this.

The irony I.

With their cups, it inhibitor being.

On the NSP throughout widened volume areas and then the other dogs and SP five idle days.

Again.

You have extensive expertise.

Expertise and industry experience, including peers you may have worked with previously what other groups out there might.

Might be looking at a similar approach.

I'm just curious if anything is.

Near Atlantic relative to your approach that we should be looking out for.

Well I mean look there are some agents people have re purpose.

That are currently out there right.

And focus program to look at.

These two targets and ultimately to develop combination therapies around these two targets.

And and so I think you know we we are we kind of stand out in that in that arena and I think our decision to get into the space was specifically no.

And the fact that we as a company.

Into the clinic.

We always.

No look at ways to move them more rapidly whether it's accelerating toxicology programs the position them more effectively for our efforts in and more long term studies, whether the b as agents by themselves or in combination with our other development.

Lamps.

Okay, Great and then like a question on the Uhm collaborative face to with Assembly for inhibitor.

Uhm, I guess, where do you where are you guys planning to to host sites for that trial and I'm trying to get a sense of you know your sense of the risk for a potential covid driven delay considering what we're seeing in the U S and Europe in particular.

Yeah, and this is bill we've not.

Again, not disclosed I think we're we're doing this study.

And I think the the risk that you you suggest around Covid is is a real one and we actually include that in some of all around forward looking statements.

The effective is in the early stages and so an oral therapy. We think is the is the most appropriate mode of administration for for this this approach that we're taking.

Okay, great. Thanks for taking the question.

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