Q3 2021 Oncolytics Biotech Inc Earnings Call
Good morning, and welcome to oncology biotech third quarter 2021 conference call. All participants are now in a listen only mode. There will be a question and answer session at the end of the call.
Please be advised that this call is being recorded at the company's request and I would like to turn the call over to Jon Patton Director of Investor Relations and Communications. Please go ahead.
Thank you operator, and good morning, everyone earlier today <unk> issued a press release, providing financial results and corporate updates for the third quarter 2021.
Play of today's call will be available on the events and presentations section of the website approximately two hours after its completion.
After remarks from company management, we will open the call for Q&A.
As you reminder, various remarks made during this call contains certain forward looking statements relating to the company's business prospects.
<unk> and commercialization of pellegrin, including statements regarding the company's focus strategy and objectives company's belief as to the potential and motive accident tolerant cancer therapeutic.
<unk> aims and anticipated benefits of the company's current pending clinical trials, the company's plans and expectations regarding a potential registrational study.
These plans regarding the expansion of the TV market and business development potential and other statements than anticipated developments and the company's business. These statements are based on management's current expectations and beliefs and are subject to a number of factors, which involve known and unknown risks delays uncertainties and other factors not under the company's current control.
Cause actual results performance or achievements of the company to be materially different from the results performance or expectations implied by these forward looking statements.
Any forward looking statement, which expresses an expectation or belief as to future results but.
Expectations or beliefs are expressed in good faith beliefs.
Reliefs have reasonable basis, but there can be no assurance that these statements expectation or belief will be achieved. These factors include results of current and pending clinical trials risks associated with intellectual property protection financial projections actions by regulatory agencies and those other factors detailed in the company's filings with SEDAR and the SEC one critics does not undertake.
Take any obligation to update these forward looking statements, except as required by applicable laws.
Now I will turn the call over to Dr. Matt Coffey, President and Chief Executive Officer.
Biotech Matt.
Thanks, Sean.
Thanks to all who are joining us today to discuss our third quarter corporate update.
In addition to John I'm joined by Tom Vitamin a global head of clinical development operations.
Andrew do you got to do a global head of business development, and Kirk Lusk, our Chief Financial Officer.
These past months were an important period of execution for all Bolitics, we achieved key objectives, but advanced pella down a clear path to a registrational breast cancer study, while simultaneously furthering its development as an immunotherapy backbone that can enable the success of a wide range of agents across multiple indications.
One of our most exciting recent highlights from these past months was actually announced earlier today and it relates to new biomarker data from the first two cohorts are aware one breast cancer study.
As a reminder, aware one together with our ongoing bracelet one trial in HR positive <unk> negative breast cancer with designed to achieve three key objectives in order to ask your questions that were posed by regulators and partners regarding the survival benefit observed in 2013, our prior randomized phase II study that showed a near.
Doubling of overall survival with Pellerito wrap in HR positive <unk> negative metastatic breast cancer patients.
These objectives were to confirm that Colorado Rep works through an immuno therapeutic mechanism of action as suggested by the survival benefit in.
Q1 right.
What became apparent about 10 months after the start of treatment.
Second determined a checkpoint inhibitor synergize with calorie a rep.
And third determined a changes in peripheral blood T cell population could potentially serve as a novel blood based biomarker to predict patient response to <unk> therapy.
Now on a recent earnings call, we walked through data showing that aware one had accomplished at the primary goals and validated our broader clinical strategy by confirming pillows immunological mechanism of action and demonstrating the synergy between Peloria rep and checkpoint inhibition.
With the data we are announcing today, which Tom will discuss in more detail. We have further support for these earlier conclusions and evidenced that changes in peripheral blood T cell populations may be predictive of patient response to Peloria. Rob. This is an exciting finding that could potentially improve our chances as SaaS and subsequent studies by allowing.
To quickly identify the patients who are most likely to respond to <unk> therapy.
It also has us well on our way to achieving the last of the three objectives I just laid out which we expect to complete as part of our ongoing bracelet one study.
One important point to emphasize about the aware one data we have presented to date is that includes all patients in the first two cohorts, which evaluates <unk> with and without checkpoint inhibition in patients with HR positive <unk> negative breast cancer.
Evaluation of these cohorts was the core objective of where what is HR positive <unk> negative breast cancer subtype, we intend to examine their future Registrational study.
As I alluded to earlier the data from these cohorts has allowed the site to meet its primary objective, which has our lead program advancing down a clear path towards a registrational study.
The last task, we need to accomplish before advancing into such a study is the completion of bracelet, one which will probably will discuss shortly.
As we look ahead for aware one we have amended the protocol to keep all ongoing and future cohorts focused on evaluating <unk> in patients with her two positive breast cancer, where that's not proceeding with the worst one triple negative cohort as we expect to generate an abundance of data in this breast cancer subtypes of our ongoing Irene.
While which evaluates Colorado wrap in combination with insights PD, one checkpoint inhibitor <unk> allomap in the metastatic setting which is a less common subtype. This will allow us to advance our breast cancer program with efficiency, while collecting data in each subtype of disease.
Beyond our lead program, we continue to strategically leverage collaborations with industry leaders in academia to unlock additional value by executing on our stated milestones and our other clinical trials, such as Irene and goblet, which also evaluate <unk> in combination with a checkpoint inhibitor.
Our efforts towards this goal are bolstered by the robust clinical data set demonstrating <unk> ability to act as an immuno therapeutic agent that trains immune cells to fight cancer, while simultaneously, enabling their success by weakening or reversing the tumor defense mechanisms that drive checkpoint inhibitor resistance.
Taking a broader view this differentiated and broadly applicable mechanism of action positions pella as it potentially immunotherapy backbone that can be an enabling technology for a range of immuno oncology agents, even before checkpoint inhibitors, such as car T cell and by specific antibodies.
This provides a multiple of opportunities to further expand pellet market and business development potential in order to efficiently pursue these opportunities we plan on utilizing our partner strategy.
This will allow us to keep our primary internal focus on advancing <unk> towards a registration in HR positive <unk> negative metastatic breast cancer.
We believe this strategy represents the best way to maximize value, Colorado Rep can generate for shareholders and patients while ensuring we devote the necessary resources to our lead program.
This will position the company to minimize the risk as we work to efficiently execute on stated clinical objectives.
With that I'll now hand, it off to Tom to begin talking a bit more in detail about our recent data and progress of our clinical programs.
Thanks, Matt and thanks to all those listening on the call today.
I'd like to start by first discussing the compelling aware one biomarker analysis as Matt mentioned, the results of which we announced for the first time today.
These analysis focused on how pellet rear up treatment, both with and without a checkpoint inhibitor.
Drive changes in peripheral blood T cell populations.
And how these changes correlate with cell til score and tumor infiltrating CDA positive T cells to metrics that are associated with favorable clinical outcomes.
The goal of these analyses west or identify a potential blood based biomarker that could be used to quickly identify patients most likely to respond to <unk>.
Before therapy or after an initial treatment cycle.
Pleased to say that this goal was accomplished and that we've identified potential biomarkers that will be evaluated further in our phase two bracelet one trial.
Now I'll dive into the specifics of the latest data, which as Matt mentioned include all patients from aware ones first two cohorts.
Reminder, these cohorts enrolled patients with HR positive <unk> negative breast cancer cohort one patients were treated with pellet rear rep hormonal therapy, while cohort two patients received the same treatment regimen, plus the checkpoint inhibitor solution map.
A pooled analysis across cohorts showed a statistically significant decrease in peripheral blood T cell diversity post treatment due to the expansion in generation of new antiviral and anti tumor T cell clubs.
To provide some context on what this means you can think of T cell diversity as a measure of population heterogeneity at baseline. There are many types of T cell clones that are represented in about equal numbers each program to attack a different target when activated.
When diversity has decreased this means a larger proportion of the T cell population consists of a limited number of clones.
And to attack a select number of specific targets.
So the fact that we are seeing a statistically significant decrease in diversity tells us that <unk> treatment drives the T cell population towards anti tumor and anti viral clients, providing further evidence of <unk> ability to train the immune system to fight cancer.
Importantly, our pooled analysis across cohorts also showed a statistically significant association between pre versus post treatment decreases in peripheral blood T cell diversity and increased post treatment cell til scores.
And a statistically significant association between increased peripheral blood T cell fraction pretreatment.
And tumor infiltrating CDA positive T cells post treatment.
Given the association between top sell till score and tumor infiltrating CDA positive T cells with improved clinical outcomes. We believe these are exciting findings.
In addition to our findings from the pooled analysis comparative analysis of cohort one versus cohort two showed that the addition of a teaser leisure map enhanced <unk> ability to generate and expand new antiviral and anti tumor T cell clones.
The decrease in pre versus post treatment changes in peripheral blood T cell diversity with checkpoint inhibition in cohort two was greater than that seen in cohort one without checkpoint inhibition.
And Ah numerical association between decreased post treatment piece of diversity in the peripheral blood.
And treatment induced increases in tumor infiltrating CDA positive T cells in cohort one.
Association reached statistical significance in cohort two with the addition of the <unk> solution.
Collectively our latest aware one data further demonstrate <unk> immune based mechanism of action and its ability to synergize with checkpoint inhibitors.
They also add to the robust dataset showing that the study met its primary endpoint in the <unk> treatment increased cell til scores increase incorporation of <unk> positive T cells into tumors weakened tumor defense mechanisms by reversing immuno suppressive tumor microenvironment.
And dramatically up regulated PD lone expression, notably.
Notably many of these desirable effects were enhanced by the addition of checkpoint blockade with.
With these latest we now have compelling evidence, suggesting that changes in peripheral blood T cell populations.
Predictive responses to <unk> therapy.
He served as the basis for a blood based biomarker in subsequent studies.
It could improve our chances of success.
To select that's most likely to respond to therapy.
Looking forward the aware one data we announced today provide our lead breast cancer program with further momentum on its clear path towards a registration study.
The next and final major step on this path is the completion of the ongoing bracelet one trial.
As a reminder, bracelet one was designed in collaboration with Pfizer and Merck Serono to support the overall clinical benefit observed in the <unk> III study.
To investigate the potential of changes in T cell populations to serve as a clinical biomarker.
Its designed is essentially identical to that of <unk>, two and three with two key exceptions.
First is exclusively enrolling positive virtually negative breast cancer patient population in which we saw the most pronounced overall survival benefit in <unk> III.
And second it includes an additional study arm to evaluate the safety and efficacy of <unk> in combination with Pfizer and Merck Serrano's anti PD lone checkpoint inhibitor <unk>.
We are particularly excited about this study arm.
The aware one data showing synergy between <unk> and anti PD one therapy.
This suggests that by adding checkpoint inhibition.
May be able to further improve upon the impressive survival benefit observed in <unk>, two and three patients treated only with <unk> and chemotherapy.
Since dosing its first patient in 2020, my colleagues at <unk> and our investigators are pre Cogs.
World renowned organization managing to study have done an excellent job rapidly advancing the bracelet one study towards completion.
The surge in Covid cases, driven by the Delta variant over the summer cause brief disruptions at some clinical sites.
Our team was able to quickly adapt to keep the trial moving forward. Thanks to their talent and dedication we were able to maintain momentum in this important program and are on track to finish enrollment abrasive line either late this year or in the first quarter of next year.
As we mentioned earlier in the call. The completion of bracelet. One. This is the last major step on our path towards a registrational study in breast cancer.
We expect the data we generate from bracelet, one together with the data we already have from aware one to inform the design of this study while simultaneously providing additional insights that will further position us to take advantage of <unk> potential across additional cancer populations.
Lastly, before I hand, the call off to Andrew.
I just wanted to speak briefly about some very interesting preclinical studies that were presented at the International conference on immunotherapy radiotherapy combinations.
These studies evaluated various treatment combinations of <unk> radiotherapy and anti PD, one therapy in mice with two bilateral tumors each located under the skin on a different side of the body.
Radiotherapy <unk> treatment was delivered locally to one tumor to noted the primary tumor while the second tumor which was de noted the abscopal tumor was not directly exposed to either therapy.
Results from the studies showed that compared to single agent radiotherapy.
<unk> radiotherapy combination led to more animals survived, which reached statistical significance with anti PD one therapy was administered systemically. Additionally.
Additionally, these increases in survival were accompanied by increased infiltration of anti cancer T cells and both the primary and Abscopal tumors, which is indicative of synergistic immunotherapy effects of the <unk> radiotherapy combination.
These compelling findings together with our prior clinical data and preclinical results showing the Palo Europe Synergistically combines with agents such as car T cells by specific antibodies PARP inhibitors CDK four six inhibitors highlight <unk> potential as an enabling technology that can enhance the efficacy of a wide range of therapies.
Beyond checkpoint inhibitors.
In order to pursue <unk> development in combination with agents beyond checkpoint inhibitors, we plan to utilize our partnership strategy. So that we can maintain our focus on our lead breast cancer program.
The execution of our ongoing clinical trials now to speak a bit more about this partnership strategy as well as our broader business development efforts ill hand, it off to Andrew Andrew.
Thanks, Tom and thanks to all who have joined us on today's call.
Sure I'll elaborate further on Tom's point I'd like to first discuss some of our work leveraging collaborations with industry leaders to expand <unk> potential therapeutic impact.
Developing it in combination with checkpoint blockade in indications beyond HR positive <unk> negative breast cancer.
This work is embodied by several ongoing trials.
These include our trial with BMS evaluating Palo Europe up vivo combination therapy in multiple myeloma Irene.
Irene which is our phase III study evaluating <unk> in combination with insights PD, one checkpoint inhibitor <unk> in metastatic triple negative breast cancer.
And goblet, our phase one two trial evaluating <unk> in combination with Roche's PD lone inhibitor <unk> in patients with metastatic pancreatic metastatic colorectal and advanced anal cancers.
We're very pleased with the progress we've seen in each of these studies patient.
Patient dosing with initiating goblet last week, while Irene and our multiple myeloma study on track, Brian Jeremy safety updates by the end of the year.
With each of these trials, we aim to leverage the immuno therapeutic effects Palo <unk> has demonstrated in aware one and other clinical studies.
These effects can reverse the tumor defense mechanisms that limit the efficacy of checkpoint inhibitors.
By doing this we believe we can address the pressing unmet need and tap into a large commercial opportunity.
As a checkpoint inhibitor market is expected to reach $55 billion by.
By 2025, despite less than one in five patients responding to these therapies.
The combination of the unmet need and the commercial opportunity for agents that can enhance the efficacy of checkpoint inhibitors has driven large farmers growing interest in this space.
This entrust bolsters our efforts to execute on our BD strategy as we work towards the goal of securing a global clinical and commercialization partnership.
By engaging large pharma companies and the collaborative trials I just discussed we are able to take our proven approach in pursuit of this call.
As trials such as these have typically preceded paas deal.
Shifting gears a bit I'd like to highlight some recent progress made by outlining our tie our partner who is working to develop and commercialize Palo Europe and China Hong Kong.
Cow, Singapore, South Korea, and Taiwan.
Our partners at Adelaide recently announced that they dose the first patient of bridging clinical trial evaluating the safety Tolerability and preliminary efficacy of Palo <unk>, plus paclitaxel combination therapy in Chinese patients with advanced or metastatic breast cancer.
This bridging trial uses a treatment regimen that is similar to that previously evaluated Palo <unk> paclitaxel cohort in <unk> III.
Bridging trial will enroll approximately 15 to 18 patients with the results expected to allow ablate to include data from our North American <unk> III and bracelet, one trial now future submission to Chinese regulators. This work. Therefore is intended to accelerate Palo <unk> clinical development and <unk> principal jurisdiction.
Hello, <unk> advancement China's significant as the country is a rapidly growing biopharmaceutical market that is currently the second largest in the world.
Cancer is the most common cancer among women in China with over 460000 cases and more than 117000 deaths reported in 2020.
Through our continued partnership with Adler, we have set ourselves up to capitalize on the significant opportunity represented by the slight market, while minimizing risks in clinical costs.
Lastly, before handing it off to occur all built on a point Tom made earlier regarding our strategy to develop <unk> as an enabling technology for therapeutic agents beyond checkpoint inhibitors.
In order to do this we are aiming to identify high quality partners that will take the lead on this development pathway and assumed the research responsibilities and the costs associated with it.
Our efforts are supported by emerging preclinical data and our clinical results demonstrating <unk> ability to reverse immuno suppressive tumor microenvironment and recruit cancer fighting T cells into tumors.
These have allowed us to foster collaborations with biotechnology companies and academic institutions, such as Leiden University, who are we.
Working with your valued Palo <unk> bi specific antibody combinations in preclinical studies.
While we remain interested in these collaborative efforts and the data we expect them to generate.
I should once again emphasize that our primary focus remains on our <unk> breast cancer program.
The execution of our stated clinical objectives.
To ensure we maintain this focus we plan to continue leveraging our relationships with distinguish collaborators such as Roche.
Pfizer Merck Serono, BMS insight and <unk> as we work to execute on our goals.
We're very pleased with the results of this strategy has produced to date and believe it has is poised for sustained success.
With that I'll turn the call over to Kirk look our CFO to discuss our financial results for the third quarter.
<unk>.
Thanks, Andrew and good morning, everyone.
It's my pleasure to report that <unk> continues to remain in a strong financial position as we advance our lead breast cancer program towards Registrational study and execute on additional clinical and corporate objectives.
Our cash and cash equivalents as of September 32021 was $48 1 million compared to $31 2 million as of December 31, 2020.
Based on our current projections, we expect our financial runway will extend into the middle of 2023.
Now our operating expenses for the third quarter of 2021 were $2 9 million compared to $2 5 million in the third quarter of 2020.
This change is largely due to higher noncash share based compensation and investor relations activities.
Research and development expenses for the third quarter of 2021 were $3 3 million compared to $3 9 million for the same period last year.
So this change was largely due to lower manufacturing related expenses as we completed a cgmp production run in the third quarter of 2020.
This was partially offset by higher R&D compensation related expenses in support of our expanded clinical program and increased research collaboration activities, including car T therapy and by specific antibody.
The net loss for the third quarter of 2021 was $4 $9 million compared to $6 7 million in the third quarter of 2020.
Which included an FX gain of $1 2 million for the third quarter of 2021 compared to a loss of $2 five.
<unk> 5 million for the third quarter of 2020.
This equated to a net loss of <unk> <unk> per share for the 2021 period and a net loss of <unk> 16 per share for the 2020 period on a consolidated basis.
With that I'll hand, it back to Matt Matt. Thank.
Thank you Craig.
Now before we move on to Q&A I would like to reiterate how impressed had been by the talent the dedication and the nimbleness of the athletics team over the past few months.
As the pandemic continue to evolve with the surge of the Delta variant. This past summer they were able to seamlessly adapt and keep our development programs efficiently moving forward.
Thanks to their efforts, we are heading towards 2022 with positive momentum and robust clinical and preclinical data sets that demonstrate Colorado reps SaaS immunotherapy.
By leveraging these effects. We believe we can develop hillary I'll wrap as a backbone therapy that will combine synergistically with checkpoint inhibitors in a broad array of additional immuno oncology.
As we work towards this goal we will remain primarily focused on our lead breast cancer program, while selectively engaging partners and collaborators to advance our efforts in other areas.
We expect this to allow us to maintain an optimal benefit risk balance and achieve a regular cadence of catalyst.
These include reporting interim safety updates from Irene and from our multiple myeloma trial evaluating <unk> in combination with Proteasome inhibitor later this year as well as the completion of enrollment and bracelet, one which is expected in late 2021 or the first quarter of 2022.
Looking ahead I remain excited about our prospects as we head towards the end of the year.
Our lead program is advancing down on a clear path towards a registrational study, while several other clinical and preclinical programs advance in parallel.
We have a strong team that has consistently executed under the ever evolving circumstances of the pandemic and we are well positioned to generate value for our shareholders as we work towards our ultimate goal of improving the lives of cancer patients.
With that I'd now like to open the lines and take some questions operator.
Thank you Sir.
Ladies and gentlemen, if you would like to ask a question. Please press star followed by one on your Touchtone phone you will then hear eight retail prompt acknowledging your request.
If you would like to withdraw your question simply press Star followed by two and if you're using a speaker phone. We ask that you. Please lift the handset before pressing Andy Keys. Please go ahead and press Star one now if you have any questions.
And your first question will be from John Newman at Canaccord. Please go ahead.
Hi, guys. Thanks for taking my questions and congrats on all the progress here.
Just had two first one is.
Could you describe how you might incorporate the biomarker analysis from aware one that you discussed today.
To some of your other ongoing studies and second question on top of that one.
Wondering if you could remind us of the dosing duration here and any potential color you could give us on timing of the clinical data in the future.
Sure Hey, John how are you by the way thanks for the question so.
The data today.
Just to kind of contextualize that when we talk about <unk>.
Diversity.
Our T cell repertoire.
Really if you can just imagine in an aquarium of multi colored fish. So you have red fish bluefish yellow dash Greenfish Whitefish Blackbird.
Equally represented pretty diverse.
I'll look into it and it's like Wow.
Is the spectrum of what have you now all of a sudden the red fish population below by like a 100 fold those clones of those red fit just amp up the diversity draw.
And that's really what this data is telling us we get a massive increase in the quality of these red pitched that.
They did.
On the illusion. These are anti tumor column. So the coloniality should soften the diversity drops what this allows us to do with a simple blood draw.
We can do a three mill.
<unk> adds as early as two to three weeks and if we see this drop in diversity and this increase in these new T cell clones.
This is correlating very strongly with positive sell till we've demonstrated it correlates very positively with overall survival in pancreatic cancer, but what that allows us to do is stratify. These patients.
Basically this is a very easy way to enrich or follow up on the patients that are deriving benefit and.
And really this will be verified with bracelet, but we've now seen this.
In breast cancer, and pancreatic cancer and it really becomes the focus of the goblet study as well so what it allows us to do.
In the clinical testing phase is to run much smaller studies that are much more nimble because we can follow the patients that are having the desired immunological effect and.
And what's nice about this is the reproducibility of that we're seeing this across.
Indications in the clinical setting we're also seeing that.
In animal testing. So this appears to be a very strong effect that is indicative of response.
In preclinical clinical and across indications. So we're very excited about it from a commercial perspective.
This is also very nice for the patients because immunological agents like ours.
It often takes you don't see.
Dramatic changes in PFS, you see dramatic changes in overall survival, but these patients are dealing with a finite window of opportunity. So we can tell as early as two to three weeks. If they are deriving the benefit that we're looking for which allows payers to accept agents by power is much more readily.
Because we can tell which patients are responding and which ones aren't and fair to the patient perspective, if they're not seeing the desired vaccination effect, we can get them off our therapy onto something else that might be.
The more successful for them because we really are moving towards a tailored approach to oncology. So this this approach it'll be verified with bracelet.
And we will form a basis for our phase III, what's also nice about this.
Approach is in pancreatic cancer and again, we'll see more of this embrace let at baseline.
If we see very little immunological activity. If there are very few T cell clones. If there are no predominant clones are no variation in the ratio of these bonds. It really just speaks to the fact that they don't have much immunological reserve left because it varies statements with chemotherapy and radiotherapy and we know they are poor candidates, but we can eliminate those patients.
On to the clinical setting before we even treat them. So again it create smaller more robust clinical data for us and I think dramatically improves our chances of SaaS and the clinical breast cancer stopped because it didn't so heterogeneous, but if we can identify the patients that are likely to respond it levels. The playing field and I think gives us a dramatic improvement in our ability to be success.
Paul.
For your second question duration of treatments I'm going to push Dr. Heinemann onto the bus.
Tom can you speak to gobble up a little bit for Dr. <unk>.
Yes, sure can you hear me okay.
Yes, great yes.
Oh, great. Good so yeah, so keep in mind that the goblet steady as C. P.
Platform study in which we are treating patients with four different types of <unk>.
<unk> cancers, and so the treating regimens the treatment regimens are a little bit different depending on the type of cancer. So patients will be treated with either pelo all patients will be receiving pellet Ria rep and a T solution mab.
In a couple of the cohorts of patients for example, with pancreatic cancer or with third line Colo.
Colorectal cancer will also be receiving standard of care chemotherapy and so the treatment regimens vary a little bit patients will be receiving pellet Ria rep.
Yeah.
Weekly and diesel issue Mab. According to its normal administration schedule and then chemotherapy is appropriate and they will continue to be treated on the study as long as the investigators believe they're deriving benefit from the treatment.
Yeah.
Yes.
Okay, great. Thank you.
Sure.
Any further questions Mr Newman.
No that's all thank you.
Thanks Ross.
Your next question will be from Patrick <unk> at H C. Wainwright. Please go ahead Patrick.
Hi, good morning, and congrats on all the progress I have a follow up question on the potential for a combination of pellet post car T. I'm wondering if there is a preference for moving forward with autologous car T cells are allogeneic car T cells and secondly.
What tumor type or types do you believe it would be ideal for this combination of <unk> plus car T and finally, what's the status of any discussions around a potential collaboration.
Hi, Patrick Thanks for the question.
We're actually exploring both autologous.
Sure.
An allogeneic car T and the reason for that is I think.
The recent CRISPR data with allogeneic looks fantastic.
But I think for the next.
Five to 10 years, our autologous.
Car Ts are going to be dominant in this field. So I think we're running things in parallel.
In terms of targets, we're looking really at the solid tumor market I think we're speaking with potential partners around.
<unk> indications as well because of the ability of the virus to ramp things up so dramatically in the car T setting.
<unk> vial presented data earlier this year that.
The problem with car Ts is they are very short lived what he demonstrated his.
Loading the car T cells with virus would increase their activity and their persistence and importantly, as they started to diminish.
You could give a booster of the virus to basically reengage or repopulate those car T population. So that has implications obviously in and solid and liquid tumors. So we are really looking at both in terms of our solid tumor.
Targets.
The study that we're doing are wherever one really allows us to look at whether the virus is.
Active in breast cancer beyond HR positive disease. So really the focus now is looking at her two positive the work that we did with bi specifics with Leiden University really pointed to the fact that targeting her too.
Very good.
Area for us so I think not only beyond the car T. I think you will likely see us move into her two positive bispecific approach with the car Ts.
In terms of our discussions we have active collaborations with multiple parties.
In the car T space.
We're looking to get additional information out in the form of a manuscript here in the very short term.
But it's an area, we're very excited about because again, what aware and bracelet. One are teaching us as the virus is a very good immune adjuvant. It is very good at expanding T cell population that is very good at recruiting them to solid tumors.
So I think you can see us the collaborations we're looking at now have a strong emphasis on breast cancer gastric cancer and <unk>.
Non small cell lung, which are I think areas of interest for everyone in terms of the car T space back to your other question we are doing.
<unk> and Alagoas, but I think ultimately the autologous will be replaced.
Just because.
If you can get an off the shelf car T. That's applicable for everyone not be fixed the HLA appetite base I think it becomes very attractive because it basically becomes just a standardized immune based assay, but I don't think they're there yet we've talked with kols in the area. They are suggesting we're probably looking at a five to 10 year horizon for that to eclipse the autologous.
But we do want to get our foot in our door or we want to capture some IP, but we want to I mean, it's the gold rush right now we want to make sure that we've staked out our land and have a strong presence in the area.
So we are very active in this space and as I said, we're collaborating with multiple partners at this point and numerous academic groups.
That's helpful. Thank you very much.
Well thank you.
Thank you and at this time I would like to turn the call back over to Dr. Coffey. Please go ahead Sir.
I just wanted to thank everyone for their part of their time and attention. We're very excited about what we're seeing.
In the clinic, we're very excited about our partnership with Adelaide North high now that they've taken are resolved that and move them into one of the fastest growing oncology markets. We're very pleased with the goblet study it hit the ground running like you wouldn't believe.
We're approaching the end of bracelet, one which will give us a read out.
Next year final data on aware one the aware one data I think exceeded our expectations in terms of the biomarker.
The ability to demonstrate that it is killing sell through an immunological mechanism. So we're looking forward to the next 12 months and we're very excited about keeping everyone up to date with the progress as it becomes available.
Thank you Sir.
Ladies and gentlemen, this does conclude your conference call for today. Once again, thank you for attending and at this time, we do ask that you. Please disconnect your lines have a good weekend.
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