Q2 2021 Iteos Therapeutics Inc Earnings Call
Chris Raymond: Hey, Bob, thanks, and congrats on the progress this quarter. Just a couple.
Michelle Ditu: Maybe first, a strategic question. I guess it's pretty remarkable you guys have funded yourselves for, you're funded now for about five years or so. And I'd say that kind of runway is kind of at the high end of what we've seen for an earlier stage company like you guys. Just as you think about maybe your, I guess, intertemporal, maybe investment choices, can you talk about the same thing? the assumptions that went into this cash runway guidance. I guess, long short of it, is there any sort of business development embedded in this? Is there any other activity? Thanks.
Please note. This call is being recorded at the company's request I would now like to turn the call over to Brian Baker head of Investor Relations ideas. Please proceed. Thank you for joining US today, joining me from Ics with prepared remarks are Michel <unk>, President and CEO and Matthew Goll, Chief Financial Officer Dr.
Dr. Joanne Lager, Chief Medical officer will be available for Q&A.
Before we begin I would like to remind you all that the team will be making forward looking statements the prepared remarks and during the Q&A session.
Michelle Ditu: I believe Michel is speaking. Yes, indeed, this is something that is communicable and that will allow us to create multiple And the plan that we have designed with GSK involves us moving as quickly as possible. This includes initiating several phase three studies that say with GSK being 60% of the remaining expensive, this program still only consumes about one-third of the cash balance. We believe that the data for independent will export its advancement into the phase three studies, and we have integrated that into our cash-hand work.
Any statements made during this call that are not statements of historical or current facts are intended to be forward looking statements pursuant to the safe Harbor provisions of the private Securities Litigation Reform Act of 1995.
We want to emphasize that such forward looking statements reflect our current expectations and assumptions regarding timing progress and success of our current ongoing clinical trials therapeutic potential thereof expected milestones, our financial condition, including cash runway, our business operation development efforts and our relationships with third parties and collaborators.
And are neither predictions or guarantees of future events or performance.
Results could differ materially from those stated or implied by these forward looking statements due to risks and uncertainties associated with our business, including those under the heading entitled risk factors in our quarterly report on form 10-Q for the quarter ended June 32021, which was filed yesterday with the SEC as well as in subsequent reports, including our <unk>.
Michelle Ditu: The company has put three distinct programs in trials over the past four years, as we said, and with the tragic order of physical value relations that we feel sustainable for generating future programs. And we have in discussion with integrative several programs that will be developed in-house, and we believe we'll be able to address different mechanisms involved in modulating the general response against tumor cells. We have also integrated a few academic partnerships that will expand our research in tumorology and drug discovery.
Current reports on form 8-K.
The company disclaims any obligation to update or revise any forward looking statements, except as required by law Michelle.
Good morning, good afternoon, everyone.
I would like to begin today's call.
On the substantial progress we have made at Ikea and the recent announcement of almost strategic partnership with Glaxosmithkline for per ton higher CET anti <unk> antibody.
Great.
This partnership brings you to Ikea.
Michelle Ditu: And we are also integrating opportunities for external innovation. I want to stress that we will be really opportunistic and cash efficient there. We know what we are looking for, and we take the time to find the best opportunity to expand our pipeline within this cash run.
Given these programs best in class resources for clinical development now and as we look forward for both commercialization, but also validating our scientific approach and Vigo.
Also provides a catalyst for all of our talented team to continue to grow our pipeline of highly differentiated.
Michelle Ditu: Okay, and then just a follow-up, maybe more detailed. Do you have an update on the A2A biomarker for any patentant? Just, you know, any progress there and any sort of guidance as to when we'll see additional data?
<unk> therapeutics.
Our team is deeply committed to developing therapies that focus on mechanisms of immune suppression.
Our approach in goods and I, just think the pathway to reduce in this depression.
Dr. Joanne Logger: Yes, I'm going to turn the question to Joe to give the most, the most of the second of that. Joe, please.
The immune response against cancer meeting the high unmet need the treatments for cancer patients.
Dr. Joanne Logger: We are developing, I think, a more profound understanding of the mechanism of action of the drug, which is informing our indication selection and which we will be incorporating in our clinical development plan as we move forward. We anticipate putting that data out sometime next year as we kind of put all the pieces of the story together.
And the last four years.
Three distinct and highly differentiated programs and to kick the tires and wheels.
Growth of silicon value creation, we have shown that we can leverage our expertise in tumor immunology.
Energy income.
For you to build a robust pipeline going forward.
Before I go into more detail on the U S Gulf or Eric.
Expanding on our plan to further grow our pipeline, let me just take a moment to summarize our partnership with <unk>.
Flex is being flat.
Dana Graywash: Our next question comes from Dana Graywash from FDB Lerick. Please go ahead.
Instead, it piece of GSK partner for your thoughtful Ed is there is a strategic focus on the Cds.
Dana Graywash: Hi, good morning. Thank you for the question. I'd like to get into now that we're a little bit past the BSC deal and your guys' perspective on the broader Tidget CD226 access. You know, there are four members now that the collaboration has put together.
<unk> two to six axis and deferral of BD. The combination of PD, one digit <unk> 96, and CD one receptor inhibitor can transform cancer care for the limitation.
<unk> treatment option.
The deal with SMT clues.
Michelle Ditu: And you mentioned the CD-96, and of course, there's also PV-R-I-G and the potential account PD-1 as well. And I wonder, of all those three questions, why did you confidence choose to double or triple down on the CD-226 access? You know, which of the various combinations are you guys most enthusiastic about?
Research, we received a $675 million upfront payment.
We'll be eligible to receive up to an additional 145 billion milestones payments should we use for a program achieved certain development and commercial milestones.
GSK and Ipos leadership responsibility and cost with a 60.40 ratio respectively for the global development of use for it.
Michelle Ditu: And then with CD-96, I find it perhaps the most complex and controversial with some literature suggesting you should inhibit it, and other literature suggesting you should stimulate it for anti-sumor immunity. And I believe even the GSTP approach to inhibition, and what's a good question? Thank you.
We really don't Pete commercialize and equally to profit in the U S.
Outside of the U S GSK will exceed our mix with this license.
Sterilization and icos, we receive tier oriented payments.
Michelle Ditu: Thanks, Dana. I want to mention that the primary goal of the collaboration is to move forward with the combination of the standard map, the PD1 from GSK, and our digit antibody EOS software. In some specific indications, we could look for tri-tech combinations that will include different options. PD-9K or TD12 receptor could be used in some specific indications where you have a high level of one of these two partners on top of digit
This guidance both in the partner and culture.
To expand and exited the development of <unk> for.
And meaningfully participate in the development process consolidation and the value created.
We cannot be happier to be working with a partner with the capabilities and portfolio of GSK and we leverage innovation to generate significant value for all our stakeholders.
<unk> four has the potential to achieve new stimulatory effects through three mechanisms.
One looking the binding of <unk> to <unk>.
Michelle Ditu: We are also evaluating the triple combination of PD1 plus our TIG antibody and our A-1212. We believe there is a strong rationale there with good clinical data. So we need to address the specific question of CD96 and GSC and build a strong data set showing that emitting CD96 will provide a silicon antitone aspect and, as a combination of CD96 plus Tid1, in some set-ups, could create an additional that will allow it to be differentiated from the double combination of PD1 plus
<unk> in Europe.
Killing of tumor cells by <unk> in Q.
Two.
Engaging the FC gamma receptor to further promote antitumor immune response and dendritic cells and macrophage.
Piece of inflammatory cytokines and Chemokines.
And the activation of antigen presenting cells and treat activating NK cells and macrophage.
Could you put the T cells that are known to dampen the westbound.
Interestingly 50, thanks, and exhausted T cells.
We are highly encouraging initial first in human data for use for eight and a piece.
Dr. Joanne Logger: Got it. So no near-term plan for the PBRIG and combination of your kids' did that was licensed, surface, I guess.
June 30 in that vein 30 tomorrow during our phase one.
Data presented at ACR in April showed that half of 20 patients treated with single agent <unk> for.
Dr. Joanne Logger: Joe, do you want to comment on that question?
As deflation.
Stable disease or better and there was a confirmed partial response in the patients do not resistant melanoma.
Dr. Joanne Logger: So that is another combination that we're interested in, Dana. The TV-R-I-G or TB-12 receptor antibody at GFK has not yet entered into clinical trials, so it will be a later step, but it is another combination that we're interested in.
<unk> biomarker data confirm mutation of <unk> positive T Reg cells and <unk>.
Davidson in exit strategic positive T cells, whereas the other effector T cells remain unchanged.
Tracking the multifaceted mechanism based on putting the engagement of both DG and the FC gamma receptor by U S phosphate.
Operator: Thank you very much.
Saya Pakula Ramakant: Our next question comes from Saya Pakula Ramakant, from H.C. Wainwright. Your line is now open.
Based on the robust biomarker data.
Signs of efficacy as a monotherapy and data showing for towards well tolerated with no dose limiting toxicity. The clinical development plan with GSK is geared toward advancing rapidly to Richard.
Saya Pakula Ramakant: Thank you. This is Al-Kay from Hitzelang, right? Come on, Michelle.
Michelle Ditu: And I apologize for this question as being asked. I've been jumping between calls. On Inupada land, you know, in your press release, you state that you're going to be looking at several indications and also will be using different biomarkers to select patients. Could you highlight, you know, a couple of indications that you would be going after, and also what sort of biomarkers are you looking to work with? Good morning, Arka.
Could you just pension directed trials.
Indication in combination, where we see the most potential to benefit patients.
We can partner with an approved PD, one and a portfolio of potentially continuing to lead programs gives us the ability to move to rapidly towards approval and to work with GSK on Nevada region.
We tend to start combination studies of U S 448, with GSK and.
Michelle Ditu: Well, we've been very excited by the data we published at Arsco two months ago about the relationship between the expectations for the results of, identified by immunostochemistry, and the antigeno-effects in patients. And we are currently expanding this biomarker validation in order to select different indications for specific patients. Joe, can you give more detail on what you are planning to do for this biomarker strategy, please?
<unk> on track generally out of town.
The map later this year and plan to initiate trials in non small cell lung cancer and additional indication in 2022.
We are currently initiating the triad of use for income.
In combination we spend what is a map and our ability to a receptor antagonist in the pertinent in patients with solid tumor.
We are also moving forward with required to evaluate U S. A.
As a monotherapy and in combination with the molecule in patients with multiple myeloma.
Dr. Joanne Logger: Yes, hello, Arte. So as Michelle said, A2AR, since correlated with the plenical outcome, that's the data that we presented at ASCO. We are exploring Using this data to really explore the mechanism of action of the drug, we think that we're getting new insight into how the drug is working to restore anti-tumor immunity. And we are evaluating based on that data a number of indications.
Turning to guidance.
This is in suppress the immune response against tumor inhibitory responses to curing cancer therapy.
The adenosine receptor <unk> receptor.
Is a risky and we set the responsible for mid teens.
In the suppressive effect on immune cells within the tumor.
Based on our understanding of the unique condition within the tumor microenvironment, we felt fully design independent advice.
That could selectively and potently.
Dr. Joanne Logger: We're planning to proceed as we've previously discussed with a cohort in post-PD1 melanoma, and we are evaluating other solid tumors based on the data that's coming in. So we anticipate giving an update on the clinical development plan later this year.
<unk> receptor, even the high concentration of adenosine in the tumor microenvironment.
Independence is a mixed generation <unk> receptor antagonist with differentiated pharmacologic properties.
Prior generation of adenosine receptor antagonist independence was designed to inhibit <unk> receptor, even a high concentration of reducing.
Michelle Ditu: Thank you both. And then, you know, with the, you know, with the good work just for cash now, thanks to GSK collaboration, Michelle, if you had the chance to bring in molecules, if you're looking for additional molecules to be brought into the pipeline, what sort of molecules would you be looking at? You know, would you be looking to add more to the A2AR franchise or to other tumor microenvironment molecules? Yes, indeed.
<unk> is highly selective for <unk> receptor and there is no brand penetration properties, which are expected to reduce off target effects and improve the therapeutic index.
At <unk> in June we reported updated results from our monotherapy dose escalation phase work towards.
In 43 patients with advanced solid tumor.
Michelle Ditu: Then, with the five plus years of cash one way, we have integrated our investment into the digit clinical development plan, our A2A independent program also, and expanded the pipeline. As I said before, with our expertise in terminal energy, we have shown that we have been able to select the right targets. the best possible modality and that we also have an expectation in terminology to select or to identify the relevant patient population. We have a pretty program, which is a new target, the application of our Inupadena Programme.
Treated with single agent <unk>, we saw the responses or stable disease greater than six months and five patients with advanced solid tumor.
<unk>. The previously reported confirmed partial response in patients with checkpoint inhibitor resistant melanoma and easily treated castrate resistant prostate cancer.
Both of these responses.
Lastly, greater than 12 months.
Newly reported division with easily pretreated, non small cell lung cancer with stable disease lasting for more than 10 months.
We are pleased with the depth and durability of anti tumor responses. We've observed to date and this is predictability of new patent.
Preliminary analysis of tumor biopsies indicated that the expression of <unk> receptor.
Michelle Ditu: And we are going to nominate a clinical candidate before the end of the year for this program, and we'll give more information about the specificities of that program and why we are excited to have discovered this first-in-class program.
In pretreatment tumor samples.
<unk> with clinical outcome in patients with solid tumors treated with single agent independent.
Michelle Ditu: We are also considering other, I would say, routes in order to promote the anti-tumoral response of the immune system. So far, we have worked with Inupadenance on a mechanism that targets T cells but also additional new cells, and we will publish more data, as you mentioned in the future. With the same, we are targeting T cells, NK cells, dendritic cells, and macrophages. And we believe there are other mechanisms that could be used either in standard or in combination with standard of care or our pipeline to continue to boost the immune response against cancer cells in different tumor types. Then if we look for external innovation, it will be with mechanisms targeting additional types of immune cells, which are not covered by our current program at the clinical stage or in the pre-clinical pipeline.
We will continue to integrate the biomarker driven approach into our <unk> therapeutic programs to choose optimal therapeutic combination and identify the patients most likely to benefit from treatment.
We are currently evaluating <unk> in combination with temporary to Bob and weave chemotherapy and we are planning expansion in selected 30 timber, including PD, one resistant melanoma and Dodge indication and we will continue to evaluate potential biomarker.
Moving formations in both our complete development plan, we initiated in the near future. We will also be initiating evaluation of a triple combination of depending on U S portfolio and PD one.
Turning to our discovery and join with robust discovery effort ongoing and we continue to focus research program for Qs on additional targets that address pathway of immunosuppression.
Operator: Thank you. Thank you very much, and good luck with everyone.
As we build our pipeline, we expect to eliminate an additional product candidate for IND, enabling studies before the end of 2021.
Anaparama: My next question today comes from Anaparama from J.P. Morgan. Please proceed.
The team is very excited about this candidate which targets an income.
Anaparama: Hey guys, thanks for taking the question and congrats on all the progress. Maybe just a quick one on 448 for me. Strategically, what's the rationale and value of studying in combination with Pembro if Dostarlemab is
And discovered mechanism of in the secretion.
Pathway.
<unk>, which we believe will be a first in class agent.
We believe that we have assembled significant expectancy target identification multi WT selection and tubular and energy that we can leverage to build upon our demonstrated particularly out of success to build a differentiated io pipeline.
Michelle Ditu: The Dostalomab combination, I think, Joe, you said, was supposed to start later this year, maybe early next year. Thanks so much.
Michelle Ditu: Hi, and PAM. We agreed that our work on the combination with POMCOLIMA could help to inform our next steps and what work is getting started in order to generate data as quickly as possible on the sector of the combination and evaluate efficacy in end-and-neck cancer in PL1 high and low population. In parallel, we are also working to accelerate the evaluation of the combination of EOS 448 with Dr. which will be evaluated in platform trials in non-smolcellar cancer to be initiated by G.SK and will add additional indications that will be added to the clinical development plan.
With our headquarters in Cambridge, Massachusetts, and our energy Center in Belgium, Icf's global prisons allow us to attract talent worldwide.
At the forefront of innovation in the field of immuno oncology.
And we will end the call over to Matthew Paul Our Chief Financial Officer.
Thanks, Michelle I'd like to provide a brief update on our financial results for the second quarter of 2021.
The company's cash and cash equivalent position was $302.9 million as of June 32021, as compared to $136.9 million as of June 32020.
Dr. Joanne Logger: Joe, do you want to add something?
Dr. Joanne Logger: Now, I'll just emphasize what you said, Michelle, that, you know, the intent of moving forward with this study is really to continue to accelerate the program and to generate data at this time as we're getting started, the distarlemath combination.
Following receipt of the upfront payment from GSK pursuant to our collaboration and license agreements earlier in August 2021.
We believe that our existing cash and cash equivalents would enable us to fund our operating expenses and capital expenditure requirements into 2026.
Research and development expenses were $14.2 million for the quarter ended June 32021, as compared to $6.1 million for the second quarter of 2012.
Operator: Thanks for taking that question. As a reminder for everyone, if you would like to ask any
Operator: As a reminder for everyone, if you would like to ask any further questions, please do so by pressing start, followed by one on your telephone keypad now. Thank you. We currently have no further questions registered, so I will now hand you over to Michelle for any closing comments.
This increase was primarily due to an increase in activity related to clinical trials for Eos, <unk> and <unk> and increased head count.
General and administrative expenses were $15.1 million for the quarter ended June 32021, as compared to $2.4 million for the second quarter of 2020.
This increase was primarily due to increased headcount professional fees and other costs associated with becoming a public company along with advisory fees incurred by the company for the collaboration and license agreement with GSK.
Michelle Ditu: Well, I would like to thank everyone for taking the time to review our progress. As we said, we are focused on execution, both at the clinical stage and in the pre-clinical pipeline. And we will continue to move forward with our clinical strategy to deliver strong data for our clinical assets and to build our pipeline. Have a nice day. Bye.
The net loss attributable to common shareholders was $26.5 million or a net loss of <unk> 75 per basic and diluted share for the quarter ended June 32021.
As compared to $10.3 million or a net loss of $29.49 per basic and diluted share for the second quarter of 2020.
Operator: Thank you everyone for joining us today. This now concludes today's conference call, and you may now disconnect your lines. Please have a lovely rest of your day.
I'll now turn the call back over to Michel for closing remarks.
Thank you Matt.
As we move into the studios are sending our pool of tires.
Immuno oncology combinations, we have also begun to prepare for pivotal trials, which we plan to initiate in the next 12 to 18 months, we will be focused on execution of our clinical programs and then continuing to ADC. The mechanism of action of our drugs to inform our development program.
We expect to generate data iqos mystical indication in different combinations with both of our clinical stage asset, including the initiation of Silversneakers tires with our partners at GSK over the coming months.
Thank you very much for your attention to this call and your ongoing interest I'd like to now turn the call back over to the operator for questions.
Thank you very much.
I'll ask a question. Please do so by pressing star followed by one on your kind of thank you Pat did you change your mind. Please press star followed by <unk>.
I'm staring to ask a question. Please ensure that your line is on mute.
Yeah.
Our first question today comes from Chris Raymond from Piper Sandler.
Please proceed.
Hey, Bob Thanks.
Congrats on the progress this quarter just a couple maybe first a strategic question.
It's pretty remarkable that you guys have funded.
Youre funded now about five years or so.
I'd say that kind of runway is kind of at the high end of.
What we've seen from an earlier stage company like you guys.
Just as you think about maybe Europe, I guess intertemporal investment choices can you talk about the assumptions.
That went into this this cash runway guidance I guess long and short of it is it is there any sort of business development embedded in this is there any.
Sure.
Other revenue.
Activities.
Hi.
Michel speaking, yes. Indeed, this is something which commenced cable and that will allow to create new sequential loan growth.
The plan that we have designed with GSK incorporate us will be as quickly as possible. This includes initiating several phase III studies that say with GSK.
The equipment expenses. This calamity that we consume about one third of the cash better.
We believe that the data both EBIT guidance.
Which both advancement into the phase III study.
Our cash runway.
The company is three distinct <unk>.
For Europe, as we said and will be critical to critical value creation.
And it will generate in the future.
In this cash runway in TMT several programs.
That should be developed in house, and we believe we'll be able to address different mechanisms.
Roche into mobility.
<unk> again.
We have also.
Nancy.
Academic partnerships that should expand our expertise in <unk> and to a discovery.
And we are also integrating.
I would say opportunities in some of that innovation I want to stress that.
It is opportunistic and cash efficient that we know what we are looking for and we take the time to find the best opportunities to expand our pipeline. We think these cash runway.
Okay, and then just a follow up maybe more detail.
Yeah.
Do you have an update on the <unk> biomarker for any pertinent.
Any progress there in.
Any sort of guidance as to when we will see additional data.
Yes, I'm going to turn the question to Joe.
The most.
The market.
Dror please.
Okay. Thanks.
We have reported.
For initial data on our biomarker.
October here showing up.
Next <unk>.
Okay.
All clinical outcome for proposal <unk>.
Okay.
We are concluding the investigators biomarker.
<unk>.
Overall that data.
We're expecting <unk> within Europe.
Taylor.
<unk>.
Developing a I think a more profound in farnborough aftermarket Axel.
Cortez and climbing.
Sure.
And what's favorable all cooperating profit outlook.
Alright.
No.
And first of all.
We're putting that data out.
Okay.
<unk>.
<unk> put out a forecast on Australia.
Yes.
Okay. Thank you.
Our next question comes from Dana Great Rush from SVP Leerink. Please go ahead.
Hi, Good morning, Thank you for the question.
Now that doesn't have to be S. Kcl.
You guys perspective on the broader picture.
Fixed asset.
For members now that that collaboration has together over 19090, SEC and I'm quite pleased that the PV R&D essentially.
PD, one as well.
And I wonder.
So the question why.
Is your confidence could double or triple down on the CDP to fixed access.
Which of the various.
On the <unk> that you guys. Most enthusiastic about and then we're exceeding 96 I find it perhaps the nice comp.
Flex and constantly our sale somewhat.
Testing you shed inhibitor and are there any literature, suggesting you said emulated the antitumor immunity and I believe from the GSK.
It's been hit.
The baseband and likely to be confident that provider partners.
Yeah.
Thanks Dana.
I want to mention that.
Primary goal on acquisition is to move forward with the combination of.
<unk> the PD, one from GSK and our tissue antipathy U S. Helpful.
In some specific indication we could look for.
Combination.
That will include different options.
96, <unk> hundred 12%.
Could be some carpet in some specific indication where you have high net revenue of one of these two partners on top of digits.
We are also evaluating the combination of PD, one plus our digital <unk> and.
Our aim towards antagonist in the patent we believe there's a strong rationale there.
Clinical data coming to the specific question of Covid 19 series.
Jim can be.
Tony.
That asset Sherwin Doug.
Interesting.
We provide a city.
Kevin Antitumor effect and the combination of <unk> plus digit plus PD one in Santa Cruz.
Create an insurance synergy that <unk> differentiated on the double combination of PD, one plus ticket.
Got it now no near term plans for the PV <unk>.
Congregations.
Perfect. Thank you.
And Joe do you want to comment on that question.
So that is another combination Barbara <unk>.
Bob.
With over half of that.
Nobody wants more Paul.
Okay.
Our legacy Takeda local up a couple cents.
Okay.
Thank you Diana.
Okay.
Our next question comes from Cheyenne to cooler Ram <unk> from H C. Wainwright.
Your line is now open.
Thank you.
Sure.
Right.
Michelle.
Todays question ever been out I've been jumping between calls.
But.
And the independent labs.
<unk>.
In Europe in your press release, you said that youre going to be looking at several other indications and also we'll be using different.
Biomarkers.
Select patients could you highlight you know.
A couple of indications that we would be going after and also what sort of Biomarkers are you looking looking.
To work with.
Good morning Oscar.
What we detected by the data.
Two months ago about the relationship between electric projects.
Okay.
Identified by Q3, and the antitumor effects in patients.
We actually extending.
This biomarker validation.
Too.
Specific patient different indication Joe can you give more detail on what Youre planning to do for the study the market strategically.
Hello.
So as Michel said.
April AAR carload of a poor outcome.
That equivalent GAAP at OXXO.
Acquiring <unk>.
We will update our quiver explored a lot working with axiom capital.
From my point of personal data from our clinical cloud four or five <unk>.
How the tracker portfolio.
Thank you <unk>.
Are we are.
Evaluating both our local and our number of Copel <unk>.
Earnings per quarter payable cycle.
The cohort.
No Matt.
Evaluating other solid cooler.
Both of them.
One quick update.
GAAP date on accrual type of outlook later.
Thank you Bob and then.
With the.
With a good war chest of cash now.
Thanks to GSK collaboration.
Michelle if you had.
If you had the chance to bring in molecules are if you are looking for additional molecules to be brought into the pipeline.
Lots of molecules what have you been looking at.
Are they looking to add more to the FDA.
Our franchise, our two other tumor microenvironment.
Molecules.
Yes indeed.
With the five plus.
Net of cash runway.
Our.
Investment into the ticket or keep their deployment plan.
Eight.
The program also.
And expanding the pipeline and as I said before with our expertise and commitment of the rupee, we ensured that we have been able to today.
The right targets.
Best placebo modality and luxury is also.
Internet of energy to sedate onto identifies relevant patient population.
We.
A preclinical program, which is a new target.
The application of our <unk>.
But in that program and we are going to be made before the end of the year.
More information about the specific needs of the program and why we are excited with Chicago is first in class program.
Also considering.
I would say accuracy.
To promote.
You can move.
Stem so.
So far we have kwok with <unk>.
Is that demand on making each targeting T cells, but also additional new and traditional data as drew mentioned in the near future with tissue, we are targeting T cells NK cells.
Democratic certain macrophage and we believe.
<unk> disease that could be used either on the road.
Combination of expanded our pipeline to continue to boost our revenue.
In response against cancer.
In this 100 genotype.
If we look for external information is really be.
Mechanism targeting.
Additional type of immune cells, which are not covered by our current program at the clinical stage.
Technical pipeline.
Thank you. Thank you very much and good luck with that little bit.
Youre welcome.
Our next question today comes from Rama <unk> from J P. Morgan. Please proceed.
Hey, guys. Thanks for taking the question and congrats on all the progress maybe just a quick one on for Amit strategically.
What's the rationale and value of studying <unk> in combination with <unk>.
Just follow on that combination I think Joe you said was supposed to start later this year maybe early next year. Thanks, so much.
Hi, Andy.
We agreed that our work on the competition.
As to inform our next steps and what will be getting started.
That data as quickly as possible on the Cisco combination and evaluated.
And then that cancer.
Hi, and neuro predation in parallel we are also working towards the evolution of the combination of U S coverage with Doctor about which would be even just from tires.
Non small cell lung cancer to be initiated by GSK and Merck additional indication that could be added to the finfet development that Joe do you want to add something.
Well I'll, just emphasize that with our voice out of that.
Kanka, who required with this battle of Copel <unk>.
Well in general.
Or will that kind of target.
<unk>.
Also.
Thanks for taking my question.
As a reminder for everyone. If you would like to ask any further questions. Please proceed with your question Star followed by one on your telephone keypad now.
Yeah.
Yeah.
We currently have no further questions Ryan.
Now I'll hand back to Michelle for any closing comments.
Well I would like to thank everyone.
At this time to review our processes.
As we said we are <unk> on the execution, both at the clinical stage and preclinical pipeline and we will continue to move forward with our strategy to deliver data for our content assets and to build our pipeline and are nicely by.
Yeah.
Thank you everyone for joining us today. This now concludes today's conference call and you May now disconnect. Your lines. Please have a lovely rest of your day.
Thank you.