Q3 2020 Infinity Pharmaceuticals Inc Earnings Call
Ladies and gentlemen, this is the operator today's conference will begin momentarily until that time and life will again be placed on hold thank you for your patience.
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Ladies and gentlemen, thank you for standing by welcome to even if people Massoud of course conference call to discuss the company's operations and financial results for the third quarter Twentytwenty. My name is Kathy and I'll be your operator for today's call. At this time all participants are in a listen only mode. There will be a question and answer session.
To follow here.
He see advised that this call is being recorded at Infinitys request.
Now I would like to introduce your host for today's call Jane Kauffman. Please go ahead.
Thank you Kathy and good afternoon, everyone welcome to today's call to discuss our recent business progress and review our third quarter 2020 financial results on the call with me today are Adelene Perkins, Chief Executive Officer, Larry Bloch, President and Brian Schwartz consulting chief's position, we will open up the call.
For Q1 <unk> following our remarks the press release issued this afternoon details our results and is available on our website at <unk> Dot com. Please.
Please note that during this call we may make forward looking statements about our future expectations and plans, including clinical development objectives, the therapeutic potential of our product candidates, our strategic plans and strategies and financial projections. Our actual results may differ materially from what we project today.
Due to a number of important factors, including the considerations described in the risk factor section of our quarterly report on form 10-Q for the third quarter up 2020 and in other filings, we make with the FCC.
These forward looking statements represent our views only as of today and we caution you that we may not update them in the future whether as a result of new information future events or otherwise now I would like to turn the call over to Adelene.
Thanks James.
Thank you to everyone for joining us today.
Reaching it.
Reaching an exciting inflection point in its candidate having progressed the development of the analyst said toward data read outs across our clinical program in diverse treatment settings, and indication strategically designed to evaluate potential together with them to improve outcomes for cancer patients.
Over the past two years, we have focused on the execution of our phase two clinical trial.
Leveraging the strong foundation, a pithree kinase gamma inhibition with again listen to her now position to deliver important clinical and translational data.
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On todays call are consulting sheet position Dr., Brian Schwartz.
Provide more detailed clinical update.
With that I'd like to review highlights from the past quarter.
Starting off with Marriott to 75 are randomized controlled phase two study in collaboration with BMS and which we are evaluating against system in combination with opdivo in patients with advanced Urothelial cancer.
We previously announced that we reduced the doses again, Melissa from 40 milligrams to 30 milligrams daily to address the reversible liver enzyme elevation, which were reported as a first schedule Idmc meeting last spring.
We continue treatment patients still on study at 30 milligrams and have continued monitoring the safety of the 49 patients enrolled in the study to date.
And we recently reviewed updated data from patients with the Idmc.
We're pleased that the Idmc concluded that the risk benefit ratio of the Galison NFC, though in this patient population warrants ongoing evaluation.
We will continue to follow the patients still on study through year end and evaluate data on maturing time to event measures, including progression free survival and overall survival to determine the best path forward for again illicit sofitel in second line bladder cancer.
I will not married three our phase two study in collaboration with Roche Genentech in which we are evaluating the combination of galison with Concentrix and Abraxane frontline treatment in patients with triple negative breast cancer or TNBC.
And in combination with just centric and a bad thing as a frontline treatment for patients with renal cell cancer or RCC.
Last quarter, we shared that we are on track to present data from the TNBC cohort of married three and have been accepted to present. These results at the San Antonio breast cancers, and podium or SAP Sina we.
We were also pleased to have received fast track designation Fergana listen in combination with a checkpoint inhibitor and chemotherapy for first line treatment of patients with advanced TNBC.
This week and to see our investigators are presenting updated data from the melanoma and squamous cell cancer of the head and neck cohort of Merial, one or phase one once the study in collaboration with Bristol Myers Squibb evaluating handled a seven in combination with opdivo in patients with advanced solid tumors.
These data support the Tolerability and activity of this combination and provide additional translational data.
Both the one mechanism immune modulation began to listen and our clinical strategy to move began to list them earlier lines of treatment.
And finally in addition to these tend to be sponsored trials our collaborator Argus bite sizes will also be presenting data at ATSI from their phase one study evaluating analysts said in a novel checkpoint inhibitor free regimen that includes Truman they're.
Their dual receptor antagonists.
Identifying and having also known as 89, Kuwait and Doxil in patients with relapsed refractory triple negative breast cancer, adding to our data that can be sick.
We are pleased with our progress in the clinic, which enables us to share data over the coming months that reveal the potential of again listen.
We are grateful for the commitment and dedication of our employees collaborators and partners who have enabled this progress but.
With that overview I will now transition over to provide to provide more detail on our trials.
The presentation.
Thank you Adelene. These.
These are exciting times at Infinity, and we are looking forward to sharing our progress and data.
Starting out with an update on March three.
As Adelene mentioned, we have two cohorts in the ongoing phase two study one evaluating ganetespib in combination with <unk> centric and Abraxane as a frontline therapy for triple negative breast cancer patients for which we have received board of directors ignition from the FDIC and the other.
Uh huh evaluating it again and that in combination with Tecentriq kind of that's done as a frontline therapy for patients with renal cell cancer.
Last quarter, we shared that we have generated encouraging signals of clinical activity in the triple negative breast cancer cohort two.
Today I'm happy to see that we will be presenting these data at the San Antonio breast cancer Symposium in December.
[laughter] potency and we will be presenting data from our frontline barrio three triple negative breast cancer cohort together with an update on enrollment enrollment outlook for this code and also our focus will be presenting data in the second line triple negative breast cancer setting.
As well correct.
Taken together, we believe that we might have a unique opportunity with again Melissa to make an impact in triple negative breast cancer. The did you form of breast cancer with limited treatment options.
We have also made progress in the RCC cohort of Mario three having completed enrollment it'll should deal with good he patients enrolled across approximately 25 sites.
Moving next to Mario to 75, which is up from trade randomized phase two study evaluating you get into this in combination with Opdivo in platinum refractory I O naive patients with advanced Urothelial cancer.
His run in collaboration with Bristol Myers Squibb.
As we previously reported we implemented a dose reduction from 40 milligrams once a day to 30 milligrams once a day to.
To address the reversible liver function the other patients identified at the first Idmc meeting.
We were pleased that this dose reduction was successful enabling the continued treatment of patients previously enrolled in the study.
We have continue treating patients previously enrolled in the study and presented updated data from these patients said our latest Idmc meeting.
Oh, the reviewing these data the idmc concluded that the risk benefit to patients supported and continue their valuation I'll begin illicit gossip tivo in this patient population and supported reopening of enrollment of Mario to 75.
We are pleased that the 30 milligram dose is well tolerated and I'm confident in moving forward at this dose from an efficacy perspective with PK data that shows me a concrete sustained inhibition or p. on T.K. gamma with Encana listen mono therapy at doses of 50 milligrams once daily and.
Above as well as robust PD bulk is although activity at the 30 milligram dose.
So what does not call for it in metastatic Urothelial cancer.
We'll continue to evaluate seemed the clinical benefit in patients currently enrolled in Korea to 75 across.
Hi, crush maturing time, TV measures, including progression free survival and overall survival through the end of the year to inform next steps.
Our poll Ford May include reopening enrollment lauria 275 to generate additional data, we're leveraging the clinical and translational insight from the first 49 patients to design a follow on study.
And finally, we are presenting data this week and see from Mario one.
Phase one flash one B study in collaboration with Bristol Myers Squibb.
Which enrolled a bunch of all patients with advanced solid tumors.
As a reminder, the melanoma and squamous cell cancer head and neck cohort of Loreal. One were designed to carefully isolates the clinical benefit of weekend Alyssa by examining its clinical activity in patients who are not expected to respond to checkpoint inhibitors I'm wondering.
Therapy.
While having progress on checkpoints inhibitor as they immediately prior therapy.
By targeting these patients are not expected to respond to checkpoint inhibitor mono therapy, we put together something that difficulties to ensure that patient benefits observed can be attributed to the addition, and contribution although again of this making any disease control in these patients meaning.
Cool.
In a poster presented by our collaborators at the Morrill Sloan Kettering on the melanoma cohort its its seat we reported that they're gonna listen in combination with the volume that was generally well tolerated and associated with the safety, but favorable safety profile. We are pleased to see kind of.
Collectivity in patients who are not expected to respond to checkpoint inhibitors monotherapy immediately prior to that they progressed on immediately prior to coming onto treatment.
Most encouraging disease control was observed in moved at a four well 52 point.
<unk>, 6% of the 19 patients who have been refractory or relapsed to checkpoint inhibitor therapy following to a few a prior lines of therapy.
With a partial response rate of 21%.
Importantly, we demonstrated that we hoped what we hope to show in the study the reversible reversible of progressive disease in patients with immediate prior treatment with anti PD, one PDL one therapy.
When we look at the translational data from the cohort we see on mechanism. They fix all the analysts a decreasing immune suppression.
Reflected in reduced M D N C level.
An increase immune activation via Peafiel, Invigoration and Upregulation of interferon Gamma response effective.
The data from squamous cell carcinoma over the head and neck cohort, which were presented in oral presentation from our collaborators and do you see as the at Sanofi was similar to what we observed in the melanoma cohort.
It's in the mid to low cohorts the combination of treatment with again, the leadership and the volume that was generally well tolerated and had a favorable safety profile.
In addition, we see clinical activity in patients not expected to benefit from checkpoint inhibitor monotherapy jewelry immediate price progression on a checkpoint inhibitor.
[noise] disease control was observed here in 45% when nine of the 20 valuable patients with partial responses in 10% or two out of 20 valuable patients who have been refractory to relapse on the median checkpoint inhibitor therapy.
Justice feeding the melanoma cohort patients with two fewer prior lines of therapy had a great footprint, a clinical benefit with 20% what two of the penny valuable patients achieving a partial response.
These results are a meaningful for a few reasons first and foremost we see an excellent safety profile sick and we see an on mechanism activity with immune modulation as intended with treatment.
Thirdly, as we just mentioned we sold clinical activity.
With a considerable disease control rate in patients who progressed on immediately prior to checkpoint inhibitor therapy.
Having the Liberty FIC, a very high ball for activity in this setting we are pleased with the contribution of regardless of any proving out comes on these patients.
And finally in both cohorts, we see the greatest clinical benefit the patients that received two a few prior lines of therapy.
This is important validation, although overall clinical strategy in which we have moved you gonna listen to earlier lines of therapy, you know ongoing studies.
In second line Urothelial cancer pain, Mario to 75 and in the frontline setting in triple negative breast cancer and renal cell cancer in Mario Threed.
In summary.
The data from Oriel one so.
Yes that you're getting Elizabeth can potentially be safe and well tolerated immunotherapy capable of improving meaningful clinical benefit in multiple cancer types and treatment regimens.
Overall, we are encouraged with our progress across our clinical program and despite the challenges associated with cold, but 19, we have been able to continue the treatment of patients with limited disruption.
In the coming months, we look forward to sharing the data across our programs.
Which will highlight the potential of the analysts a as a unique macrophage targeted treatment to expand the benefit of being a therapy to darfur patients across indications and fitting.
Before I transition the call over to Larry I would like to thank our patients investigator collaborators it be a miss Roche Genentech and orcas.
Continued dedication has enabled our clinical progress.
With that I will turn it over to Larry.
Thank you Brian.
Turning to our third quarter financial results.
Mercury's 2020, Infinity had total cash cash equivalents and available for sale securities of $41.3 million as compared to 42.7 million at June Thirtyth 2020.
R&D expenses for the third quarter to 20 26.1 million compared to 7.1 million for the same period and 20 like GE.
This decrease is primarily due to a combination.
<unk> purchase during the third quarter of 2019.
<unk> expense was 2.9 million for third quarter 2020, as compared to 2.6 million for the same period in 2019.
This decrease is primarily related to reduction professional services as well as consulting expenses.
Net loss for the third quarter 2020 was 9.5 million repeats conclude loss per common share of 16 cents compared.
Compared to net loss of 1.4 million or basic and diluted loss per common share of 20 cents. This includes 19.
Second 2020 to cash in investment balance ranging from $25 million to $35 million.
Based on current operating plans, which exclude additional funding orbitz development activities.
We anticipate that our existing cash cash equivalents and available for sale securities will be adequate adequate to satisfy our capital needs through 2021.
It's an essential guidance does not include potential additional funding will be filmed activities.
Potential 5 billion dollar milestone payment from BFDS be some coliforms ongoing phase three clinical trials.
Thank you.
<unk> topical gel in boiling syndrome.
Were any milestones from the sale of the company's equity interest in California.
We're very appreciative of your continued support as we move forward with development of the catalyst said.
And look forward to reporting our next update on again also development at the San Antonio Breast cancer Symposium next month.
At this time, we can open the call for questions operator.
At this time in order to ask a question you need to press star one on your telephone.
Well your question press the pound key well pause for just a moment ago paddick here in a roster.
And your first question is from Anna 10, Rama from JP Morgan.
Hey, guys. Thanks for taking the question. This has not been an entre on I thought was really interesting in the Marriott one dataset presented at Citi. Just so starkly responses are bifurcated between patients two or fewer prior lines of therapy versus those with three or more and within the responding patients. Besides one blip in the chart for.
Patient a with stage three melanoma I'm, referring to that time series of objective responses there seem to be a consistent trend the size of target lesion from baseline and that they almost exponentially shrink before plateauing and eventually coming back inside so two questions on that.
The first is there any biopsies taken in these responders as their tumors are increasing in size that might shed light on the specific resistance mechanisms that these tumors are using to overcome therapy and secondly are these the response dynamics that you are expecting other tumor types. We're just trying to think about three three here. Thanks so much.
Sure I'll start and then I'll turn it over to Brian.
So your question Matt first you. Your your point is well taken in terms of the pace.
Hasten couldn't marias goals.
Our hadn't that.
We're really challenging piece.
Patients for two reasons first is that they all had progressed on a checkpoint as there are immediate prior and then the second was that they were really late stage. So the melanoma poster as you saw 50% of the patient had four or more prior therapies. So this is really really.
Late stage patient population. So it's not surprising that we saw the better responses in the patients who have two or fewer and even that's pretty remarkable given that they had.
As you can see from the old patients and yet it's a real reversal progression on a checkpoint inhibitor to production.
So that's not surprising and it's very consistent with our strategy as Brian mentioned in his remarks of moving into the second line in bladder cancer in the frontline in TNBC. So we would expect that.
Brian maybe you can speak to any.
Any further insights on resistance mechanisms.
So so unfortunately, they are not many people oxys to highlight the potential.
Resistance mechanisms that could potentially develop over time, but I think important as you as you highlighted for patients who.
Progressing wed received immunotherapy as they lost therapy and just had the addition of vacant Melissa one would that be expected a additional response to occur and that was the Ah interesting and exciting phenomenon that we observed in this trial, but you correct in the other trials we hoped for.
He will try and get a more.
More biopsies on progression and better.
The changes in different key.
Immune related cells and responses that could a better inform us as to why the patience to Miss thought three growing.
Got it that was super helpful. Thanks, guys.
The next question is from Jim, but you know that's why that.
Good afternoon, it's Nick on for Jim softness in Uh Huh.
Maturation on the date or let's say that's question <unk> and <unk>, It's probably policy works in a way you don't blame them cost, but in terms of the idmc, saying risk benefit.
Supports continuation of the study does that suggest that there was that suggest there was an assessment of benefits is that kind of a futility analysis.
Hi, good morning.
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Go ahead, Brian.
Okay Guy if you have any that's fine I'll coming back.
Yeah, I was just going to say it it definitely does did note on efficacy analysis, we didn't have a pre established utility, but we were looking at is there evidence one of the beauties of course have a controlled trial is that you see the differences. So in any signals, which was the reason that we get the pause in may.
Also can see a benefit on the treatment arm versus the control arm and so we did see that both that at 30 milligrams.
It was better tolerated and we have evidence of a benefit of a combination of again listen and I see both versus the control arm about people and placebo.
Thank you for that clarification, and then I lean as you think about next steps here you suggested we could only to reopen this study Oh, we could tell you know take what we've learned from this study in the other studies and and.
No initiate a new trial. So let me where you are sitting today, which of those two options do you prefer and why.
It's not just you know it's going to be completely data dependent. So we're encouraged by the data that we got to date, we're going to continue to look at that because it's progressing on both you know two really important metrics of PFS and Alas I'm only look at that data that will inform our next step of which is profitable. So it's just premature.
And the absence of having that data.
He wants to know which is preferable.
Thank you and then going back to the melanoma post just pretty quickly can you comment on baseline Mds see in these patients and whether there was any correlation between.
Elevated levels and connectivity and then we have two patients respond really quite quickly and then two patients achieved a PR Australia, you know leased six months of treatment. So.
Yeah, what are your thoughts so underlying the biology of what's going on here.
I'll take a first crack and then Brian.
I'm sure you can elaborate more you know what we did see in terms of the underlying mechanism and on the poster it's really captured in some of the graph that are right.
Patient vignettes, where we did see in the vast majority of patients that are treated a reduction in Mds sees which is what we'd expect the only thing that consistently throughout all of our data to date, we see that meeting and that happened in just the first month, we see that meeting to a pretty significant.
Increase in the proliferation of previous exhausted T cells. So we see this activation of T cells and then we see all the markers.
An immune response so.
We got the data there see axiom I feel 10, and then on the poster underneath.
Cartoon of the mechanism of action, there's a table and what we've seen and present. It is one of the most regulated gee its TD to 74, which is reflective of PDL. Once a week, we see that with the up regulation of immune response.
There is up regulation of PD, one to try to once that T cell response in some might we see that kind of priming for the checkpoint inhibitor by Upregulating. We there's data as you know across lots of different tumor types that patients do better on a checkpoint inhibitor the higher their PDL one expression. So that's the concept that regardless of what.
The patient started with high or low people want to upregulate that that's been a HM. We believe is part of the reason for increased activity of the checkpoint inhibitor. So what we what weve been encouraged by.
Both the Marriott one data that were presenting it to see this weekend some of the data that we'll be presenting in upcoming months is that the activity that we're seeing completely consistent with our understanding of the biology.
Honey gamma and what inhibiting it should do in terms of activating immune response.
I think it's important to be yeah, I think the other important thing to remember is you know we have two sets of biomarkers the circulating biomarkers as shown in the post the circulating Mds sees and then we have what's called the the different mall 'cause of T cell <unk> Reinvigoration and then.
We have what's going on in the tumor so what we've really tried to do in Mario three any Mario to 75 is trying to understand better what's going on in the tumor as well and maybe that will become a better correlation as we move forward, but you know we have an idea what's going.
On a in the peripheral blood, but we really don't have a very good idea in terms of the biomarker in terms of what's going on in the tumor and that's what we try to get and we have some additional studies, we will be really going to try and you list today, what happens in the tumor micro environment.
Terrific. Thank you very much and look forward to the next call.
Thanks, Nick.
Your next question is from Andrew Dsilva of B. Riley.
Hi, Good afternoon. This is gnawing Cambria on for Andy.
So forgive me if you've actually mentioned this before but I was just wondering with regard to my one where there any other tumor types, where hip panda toxicity has been seen you know so you know [laughter].
Now looking back.
Seeing what you've seen with Maya 275 did you observe any of that or have you observed long term.
Any any liver enzyme elevations.
I can I can take that you know in terms of liver enzyme elevations. We all know they'd say you know around tenish percent, increasing trend salmon NYSE is auto immune based with immunotherapy and with a single agent.
We have a little bit of Dater. It at a 40 and 60, suggesting that the drug itself could cause an increasing trend salmon ages.
Cross the different cohorts and we have multiple different cohorts in the phase one trial.
For example, you'll see in the melanoma cohort, we had an incidence of Oh, yes, the I O P. increase.
Pretty good and then in the squamous. So I had a net cohorts there was very very little so I think it really varied amongst tumor taught what made it much clearer I was in a randomized setting where you took immuno therapy versus the immunotherapy B B plus you get analysts said where are you.
Could really tease out the different numbers are still small, but it became really apparent there was a difference when when looking that randomized city.
Right. That's that's really helpful. Thank you and then in terms of Oh, My Gosh, three trial that in triple negative breast cancer can you remind us what the benchmark is in terms of the response rate and maybe share what internal bar you might have looking at those response rates.
So if you're lucky if you look at more and more of their three Morris three in the triple negative breast cancer well into two cohorts. It will have a cohorts with PDL, one high and the cohorts with PDL one login. So PDL one loves easy the board is relatively low and even.
Though they either response right of around 40 ish percent with.
The Brexit line the approval is only for the PDL one high so I think we're looking at for the PDL one loan a PFS to beat the PFS Oh I, it's five months for the PDL, one low with a response rate of about 40 and for the PDL One group just over 50%.
Response rate with a PFS of about 7.8 months. So I think we try to look at the totality of the data.
Both the well I'll call it the the depth of the responses and the duration of the responses.
And the totality of the data that we looking at in the in the Triple negative breast cancer cohort.
Great and just one last one so.
In the same study in the triple negative breast cancer I'm, it's sad to see what.
So what kind of data actually what will you be presenting them can you provide some guidance on that.
Like patient number et cetera.
So no we haven't provided that patient numbers, although obviously, we will be updating.
Then and what we'll be presenting is all the data that we have on the patients enrolled to date.
Through the data cut off.
So it will include.
Time on study in response rate safety update for those patients.
Core on study and have have had of course, yeah at this point.
Okay. That's helpful. Thank you that's all for me.
I loved it just for Mike.
The reason that Brian shared those benchmarks.
[laughter] abraxane in the PDL, one positive study, which they have accelerated approval. We did design marriotts free to mirror that approval study and passion. One third you will see as possible. So we hold the same inclusion exclusion criteria. So that's not a randomized study.
It's pretty good benchmark for us.
Sure got it thank you.
Your next question is from Sumit Roy of Jones trading.
Hi, everyone. Thanks for taking the question.
Congratulations on the great promise, we'll do that.
Looking at the.
The post or.
The M.D.C. level could you give us a little color on how the trends look like in DMD a C level past.
Cycled to Wifi, which you're collecting don't see it hasn't been historically prior trials you have done it very nicely correlates with the portion of this call.
And ER visits August could you tell us the PDL one.
With us on these patients with a high or low income melanoma trial. Thank you.
[laughter] thing one is unfortunately, we don't have the PDL one status.
On a lot of the patients from Mario one so we've basically in the melanoma trial. We've you know all the available pertinent data we have put in the post stuff.
So unfortunately, we just don't have all that data.
The second part about Mds sees over time.
You know in the in the newest studies, we collecting it.
But it is quite variable and we'd like to sort of summarize a much bigger cohorts of patients before we make any conclusions about long term changes in Mds sea level circulating ones.
Once again, I'll reiterate what I said, a little bit earlier on really interested to see what happens in the tumor to see how the different markets change the.
Oh, okay.
And could you remind us remind us the most.
Marty or three and so.
The doses you are using it.
But I mean can we afford to yours or do you going forward.
So we've been standards, if it's 30.
From Mario three I'm looking at the totality of the data and all the different parameters that we assess we feel comfortable as we've stated before that there's sufficient drive is a fish sufficient P.D. fit.
So feel comfortable at 15 milligrams moving forward and we do know that as we increase the dose they use a high incidence of trend salmon ages. So that has been a really well tolerated dose the safety summer. So all this data.
Will be presented at 14, Moneygrams at San Antonio breast, but they did a cold to 13 14 moneygram.
Thank you so much and collectors.
Your next question is from Kevin Degeeter Oh Oppenheimer.
Hi, this is she's been on for Kevin Thanks for taking our questions.
I wanted to follow up on and getting any details on the potential follow on studies for my true sense Fives I know that you want to look at the data before you decide to enroll but what would be the study objective and I guess patient population.
So it isn't that we understand your question it really is going to be a function of the day.
Data itself, what we tried to do mirror take the learnings from Marriott's, you 75 Im sorry.
That had benefited most significantly [noise].
And bill.
That's great.
No.
Yes, definitely the study will be a function of what the date.
What tasks.
And that.
Yeah.
[noise], okay, great that makes sense.
And my second question is on the Mpthree enrollment you mentioned in your press release that you had implemented a number of initiatives can you give us color on what those initiatives are and if you plan to disclose any metrics on enrollment.
So we certainly will be providing it.
No update current enrollment is as well as our outlook on enrollment, we're working very closely with our CRM and our site.
The number of things that include a social media campaign, so that patients will have assets.
Sorry.
<unk> trial.
We've done a number of you know.
[noise] calls an educational sessions with our site.
Brian is there anything else that you would highlight that was done.
Oh, I think I think that that's that's you know I think.
It's it's a very competitive area, but.
But I think it's cruel is Oh, you know we will give you some more color, but it does seem to be a problem at the moment.
[noise] and we think alternately your question.
Well.
That's okay.
Oh, yes, good day, so as I made in the truck getting that data.
[noise] impactful right.
[noise] [noise] Ah Okay great.
Thank you.
Thank you.
Thank you at this time I'm showing no further questions I'd like to turn the call back over to Adelene for closing remarks.
Thank you where I'm really excited to have reached this important phase of development Infinity, and we look forward to sharing data and people are coming.
We thank you for your continued support and for joining today's call and to update you. Later this year. Thank you have a nice night.
Ladies and gentlemen. This concludes today's conference call you may now disconnect.
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