Q4 2021 Onconova Therapeutics Inc Earnings Call
Thank you for your patience today's conference will be.
Southern maintaining once again, thank you for your patience today's conference will be starting momentarily.
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Ladies and gentlemen, thank you for standing by to the uncle know what their predicts full year 2021 financial results and business update conference call.
At this time all participants are in a listen only mode. Following management's prepared remarks, we will hold a question and answer session.
Ask a question at that time. Please press star followed by one on your Touchtone phone if anyone has difficulty hearing the conference.
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As a reminder, this call is being recorded today March 17th 2022.
At this time I would like to turn the call over to Avi Oler Senior Vice President of corporate development and General Counsel.
Thank you operator, good afternoon, everyone and welcome to <unk> full year 2021 financial results and business update conference call.
Earlier. This afternoon, we issued a press release reporting our financial results and business progress. If you have not yet seen this press release. It is available in the investors and media section of our website at Www Dot Avenova dot com on today's call.
First hear from our President and CEO, Steve <unk>.
Who will give a high level overview on our recent progress and plans for 2022, our Chief Medical Officer, Dr. Mark Gilbert will then provide a more detailed clinical and scientific update before handing the call to Mark Guerin, Our Chief Financial Officer to review, our full year 2021 financial results.
Following these formal remarks, we will then finish the call with a question and answer session before passing the call to Steve I'd like to remind everyone that statements made by management. During this conference call will include forward looking statements under the Safe Harbor provisions of the private Securities Litigation Reform Act of 1995.
Which involve risks and uncertainties that can cause actual results to differ materially forward looking statements speak only as of the date. They are made as the underlying facts and circumstances may change, except as required by law Hakan, Nova disclaims any obligation to update these forward looking statements to reflect future information events or.
Sanchez for more information on forward looking statements. Please review the disclaimer in today's press release and the risks risk factors in the company's SEC filings with that it is my pleasure to turn the call over to Steve.
Thank you Avi.
And good afternoon everybody.
Thank you for joining us.
We wish all a very happy St Patrick's day.
It is my pleasure to give an overview of our progress over the past few months.
We believe this progress has us on track.
For an exciting 2022.
Key milestones expected through.
Out the year.
Sure.
Our lead asset as a cyclic continues to advance towards phase one program in patients with advance.
<unk> tumors, which includes two separate.
Complementary clinical trials in the United States and China.
For those of you who are new to Bianca no mystery.
Whereas the cycling is a multi kinase inhibitor.
It was a low nanomole activity against CDK, four and six and all of their kinase is important for cancer cell proliferation and mobility.
Two processors.
Intimately involved in tumor proliferation and metastatic disease.
In these phase one trials, we are evaluating their azure cyclin.
With both a daily dosing schedule.
And also a three weeks on one week off dosing schedule.
Designing our phase one program in this fashion.
Allows us to evaluate and there is a cycle with dosing schedules that are currently used for F. D. A approved CDK four and six inhibitors.
We believe this approach.
Need to an optimized recommended phase two dose to bring into the clinic engine generation data.
That differentiates our lead asset from competing agents.
Looking ahead for <unk>, we plan to use the findings from the phase one program to identify a recommended phase two dose in the second half of the year.
This will then inform the design of a phase II basket trial.
Most of all indications to begin thereafter.
As well as one or more additional studies that will be designed to evaluate the safety and efficacy of your azure cyclic alone.
Or in combination with other <unk>.
Anti cancer agents.
Dr. Mark Gilbert our Chief Medical Officer will be discussing these concepts further in a few moments.
Outside our lead program, we continue to leverage collaboration with industry partners and key opinion leaders at academic institutions.
To further clinical development of Regal circuit.
Which targets, the rash and polo like kinase or P. L. K one pathways.
Rigorous there has also been shown to act as an immune modulator and to recruit T cells into the tumor micro environment.
Buyer the presentation of novel antigen on the host tumor cell membranes and is being studied in multiple investigator sponsored trials.
In the fourth quarter, we announced preliminary data from one of these investigator sponsored trials, which is evaluating regal assertive mono therapy and recessive dystrophic epidermolysis below.
R. R E D.
Which is frequently complicated by squamous cell carcinoma of the skin.
Though these initial data from a single patient in this ultra rare disease, we believe they represent an important update.
Given the invariable fatal.
Nature of this extremely rare disease.
Lack of available therapies.
Fact that we observed durable complete response of over a year and extensively pretreated patient.
Okay.
In addition to.
The I D E B trial.
<unk> also continues to be evaluated in combination with the PD, one checkpoint inhibitor <unk> and an investigator sponsored trial.
Ras mutated.
Non small cell lung cancer.
This phase one slash two week trial seeks to leverage Regal shortage dual mechanism of action.
As an immune Moro modulator.
And as a down regulator of the rash mutated pathway in order to enhance the efficacy of checkpoint inhibitors.
And this trial has already generated compelling preliminary data, which is agnostic to the type of K Ras mutation present at.
And this was discussed at length.
On our last quarter's earnings call.
Looking ahead.
We expect to report additional data from this trial later this year.
We are also working to further leverage regrow a third of your role as an immune modulator.
And its potential to enhance the efficacy of checkpoint inhibitors.
The upcoming initiation.
Additional investigator sponsored study in patients with advanced metastatic melanoma.
Similar to the non small cell lung cancer trial.
This study is designed to evaluate Riga asserted in combination with an anti PD one inhibitor.
No in this case the PD, one inhibitor will be Pembroke visual map.
Now before I hand, the call over to Dr. Gelder to provide some more detail on the clinical programs I just mentioned.
Like to once again say, we aren't getting over continue to dedicate our primary focus and resources to then Erasmus cycle program.
While <unk> has recently generated compelling data in both non small cell lung cancer and oddly he be associated squamous cell carcinoma.
We plan to pursue clinical continued clinical development, primarily through investigator sponsored trials.
Leading academic institutions.
We believe this strategy.
Enable an optimal risk benefit balance.
As we work to unlock additional value for stakeholders by addressing pressing unmet medical needs with rigorous service.
Finally.
Like to recognize a notable corporate achievement from last quarter, which was the addition of Doctor of Dod Makovsky Silverstein.
As our director of corporate development.
Dara joined.
From Amgen.
She was responsible.
Valuation external scientific opportunities.
For us all therapeutic areas and managing processes was in business development and for us functional genes.
She has extensive scientific expertise.
Having worked and some of the leading laboratories and biotech companies in the U S, which will be an invaluable and valuable asset.
We work to advance our pipeline.
And evaluate opportunities for any potential strategic expansion through in licensing.
So with that I'll now hand, the call over to Dr elder to speak a bit more.
Our ongoing and planned clinical trials.
Mark.
So thank you, Steve and thanks to all of those who have joined us today.
I'll begin today with our neurons the cyclic program.
As Steve mentioned neurosis cycle. It is a multi targeted kinase inhibitor.
Target CDK, four and six as well as several additional kinases at loan animal or concentrations.
We believe it has the potential to be highly differentiated therapy.
Due to several key characteristics such as its preclinical safety profile.
Which shows that it appears to causes less myeloid suppression and neutropenia compared to Pablo cycling. The most widely prescribed CDK four six inhibitor today.
Preclinical data, suggesting potent inhibition of C. D. K two a kinase understood to be essential to DNA replication and one of several potential mechanisms of resistance in the hormone receptor positive her two negative metastatic breast cancer population.
To the approved CDK four six inhibitors.
Additionally, its ability to inhibit arc, five which promotes the survival of cancer cells and hypoxic microenvironment serves an important role in cell adhesion and metastasis and may play a role in drug resistance.
Its ability to inhibit CSF, one receptor or CSF, one hour, which results in the stimulation of anti tumor immunological effects.
And its ability to inhibit the growth of cancer cell lines resistant to call. Besides.
We believe this differentiated pharmacologic profile positions neurosis cycling to be studied even beyond areas, where other CDK. Four six inhibitors are currently approved both as a single agent and in combination with the myriad of other.
Cancer compounds.
To begin evaluating this hypothesis neurosis cyclic is being studied in two phase one trials one in the United States and one in China, where we are collaborating with panics biopharmaceutical.
Our U S study is evaluating a continuous daily dosing schedule of neurons the cycling.
And is enrolling patients with a variety of advanced cancers.
If this study shows a favorable safety profile for continuous daily dosing of neurons the cycle. It will allow us to further differentiate our lead asset from both Pablo cyclic.
And.
And the.
The other approved CDK four six inhibitor Rai both cycling.
Which are both dosed.
On the schedule of three weeks on one week off.
These agents are associated with bone marrow toxicity, leading to significant milo suppression or low white blood cell counts and thus as I've mentioned require a three weeks on one week off dosing schedule.
I'm pleased to say today.
That the safety findings, we have seen in Nebraska cycle phase one trial, thus far have been very promise.
No dose limiting toxicities have been observed in either trial.
Including the lack of clinical clinically meaningful neutropenia.
Trial in the U S remains ongoing and currently enrolling patients into its fourth dose cohort, which is evaluating 160 milligrams orally administered daily.
Nebraska side clubs complementary phase one trial in China is also moving along very well.
Our partner panics bio pharmaceuticals has completed the trials fourth dose escalation cohort, which evaluated the 160 milligram dose of Niraparib cyclic administered orally with a three week on one week off dosing schedule.
We have not seen any dose limiting toxicities in this trial and panics is now enrolling the fifth dose cohort at 200 milligrams orally with a three week on one week off schedule and is currently working.
To prepare a protocol amendment to enable the evaluation of higher doses.
Ultimately, we expect the data from neurosis cycle Phase one program to enable the selection of a recommended phase II dose later this year.
This will then be utilized in future trials, including a phase II basket trial enrolling patients with several different types of cancer, such as CDK four six inhibitor refractory hormone receptor positive her two negative metastatic breast cancer.
No RASM cycle potential in this indication is supported by the preclinical data I mentioned earlier, which shows at inhibiting the growth of cancer cell lines resistant to Pago cyclic.
We are also planning one or more additional clinical trials of <unk> cyclic have Steve mentioned, which will be designed to evaluate its safety and efficacy.
Alone or in combination with other anti cancer agents, we are still developing the specific plans for these trials and we'll share them with you once they are finalized.
Moving on I'd now like to turn your attention to Regal Circuit investigator sponsored program starting with the programs. Most recent data update.
This update occurred in December when we reported preliminary clinical data as a European dermatology and Ventura allergy annual conference showing how rico share tips ability to inhibit P. L. K, one translates into activity against our Deb.
<unk> squamous cell carcinoma.
Steve previewed our depth associated squamous cell carcinoma is an ultra rare and invariably fatal condition.
Cause by a lack of type seven collagen protein expression.
Type seven collagen is responsible for anchoring the skins inner layer two it's our outer layer and due to its absence or deb patients suffer from extreme skin fragility and chronic wound formation.
Over time, many of these patients develop squamous cell carcinoma, and the over expression of <unk>.
L K one.
The disease and its tumors are highly aggressive with a cumulative risk of death of greater than 78% by age 55 Star.
The standard of care for these patients is tragically poor as targeted therapies conventional chemo and radiation therapies as well as immunotherapy provides limited response rates and poor durability of response.
The trial's investigators presented data from our Deb patient. This patient had a history of multiple unresectable squamous cell carcinomas that were unresponsible two multiple prior treatments, including the PD one inhibitor submit flow map.
Notably when treated with Regal circuit monotherapy patient experienced a sustained complete response.
Without signs of any further disease. Following 13 treatment cycles to see a complete response in this indication, particularly in a patient that had failed multiple prior therapies is a very promising observations that we believe warrant further study.
It confirms rigo search objectively against P. L. K, one in the clinic and positions it as a novel treatment option that can greatly improve upon the current standard of care in a very challenging indications.
We look forward to the continued advancement of this clinical trial and we'll provide additional updates as appropriate.
In addition to this investigator sponsored trial in our depth associated squamous cell carcinoma Rigo search is also being evaluated in combination with the PD one inhibitor Nikola map and then an investigator sponsored phase one slash two way trial in K Ras.
Mutated non small cell lung cancer patients, who have previously failed checkpoint inhibitor therapy.
This trial Leverages Rico search drawl as an immune modulator.
That targets the mutated K Ras pathway and build upon preclinical data we've discussed in the past that demonstrates <unk> ability to synergize with checkpoint inhibitors by reversing cold immunosuppressive tumor microenvironment invite.
Through the Upregulation of novel antigens, such as C. D 40 on cancer cells, and thereby recruit host T cells that the immune modulator can stimulate to attack the tumor.
Preliminary results from this trial, which were discussed at length. During our last earnings call support the potential anti cancer activity of the Rico, Sir to Nevada map combination.
They also demonstrate Rico sir tubes.
Applicability across multiple K, Ras mutations, which differentiates it from other brass pathway modulators that only target a subset of patients with a particular mutation and suggest that <unk> may enhance checkpoint inhibitor efficacy.
We continue to build on these results through the trial sustained progress.
With its dose expansion phase currently enrolling patients and additional data expected later this year.
An additional study that will allow for the evaluation of increased dose of Regal circuit that is part of the doublet with Navona map is also under consideration since the maximum tolerated dose was not reached to date.
Beyond non small cell lung cancer, we are seeking to further leverage Rico search in synergy with checkpoint inhibitors through a planned investigator sponsored trial in metastatic melanoma that we'll evaluate it in combination with the PD one inhibitor <unk> map.
With anti PD, one resistance occurring in the 40% to 60% of metastatic melanoma patients. There is a pressing unmet need to enhance the efficacy of these agents that we believe Regal search it may help address.
This hypothesis is supported both by the preliminary clinical results in checkpoint inhibitor refractory non small cell lung cancer I, just mentioned as well as by the preclinical data.
Protocol for this investigator sponsored melanoma trial is finalized and we expect to open. The study later in the first half of this year.
Finally, before handing the call over to Mark.
Just once again remind everybody that while we are very interested in furthering griego share tubes clinical development through investigator sponsored trials, we remain primarily focused internally on our lead <unk> program.
And with that I'll turn the call over to Mark Guerin for a discussion of our 2021 financial results Mark.
Yeah.
Thanks, Mark and good afternoon, everyone.
Starting with a quick review of our full year expenses research and development expenses were $7 $3 million for 2021.
Compared with $16 9 million for 2020.
The decrease was primarily related to the Companys focus in 2021 on its phase one program with no RASM cyclic.
Following the completion of the phase III inspire study in 2020.
General and administrative expenses were $9 $4 million for 2021, compared with $8 $3 million for 2020.
This increase was primarily related to costs related to special and annual general meeting expenses incurred in the 2021 period.
We reported a net loss for the full year of 2021 of $16 2 million.
<unk> 96 per share on $16 8 million weighted average shares outstanding.
Compared with a net loss of $25 2 million or $2.17 per share for 2020 on $11 6 million weighted average shares outstanding.
Cash and cash equivalents as of December 31, 2021 were $55 1 million compared with $19 million as of December 31, 2020.
The company believes that its cash and cash equivalents will be sufficient to fund ongoing clinical trials and business operations for at least two years.
This completes my financial review I'll now turn the call back to Steve.
Thank you Mark.
Before moving on to our Q&A.
Permit me to first summarize the key value, creating milestones we are expecting to throughout the rest of this year.
And now I'll lead neuralgia cyclic program.
We expect to select a recommended phase two dose in the second half of the year.
Based on findings from our ongoing phase one program.
This will then be followed by the initiation of a phase II basket trial.
In indications such as hormone receptor positive <unk> negative metastatic breast cancer.
Outside of our lead program <unk>.
We expect an investigator sponsored trial evaluating Riga asserted in combination with Tambo listen Matt.
In advanced melanoma patients to begin in the first half of this year.
We also expect additional data from the phase one slash two way try out of renegotiated plus Novo Mad.
K Ras mutated non small cell lung cancer.
Mastec.
Type of K Ras mutation present.
To be reported in 2022.
Finally.
We continue to actively evaluate the science and market size behind various opportunities to potentially expand our pipeline.
Through strategic licensing and collaboration.
I emphasize that we have.
Im very strong conviction.
Around the value of our current pipeline and their potential to deliver there.
To our investors and that the patients in need based on the results we have shared with you today.
And our ongoing and planned studies.
And with that review.
All of our clinical progress and finances, well now open the call for questions.
Operator.
Ladies and gentlemen, if you wish to register for a question for todays question and answer session. You will need to press Star then the number one on your telephone. If your question has been answered and you wish to withdraw your request you may do so by pressing the pound key.
Using a speakerphone please pick up your handset before answering requests.
One moment please for the first question.
And our first question comes from the line of Charles Zhou from Guggenheim You may begin.
Good evening, everyone and thanks for thanks for taking the questions. My first one could you help us perhaps understand the types of patients you have been enrolling phase one dose escalations for them to raise a cyclic to date.
As well as the degree to which they've been treated with other prior therapies such as currently approved CDK <unk> inhibitors.
Thanks, Charles I'll ask Dr. <unk> to take that question Mark.
Yes, so we have been enrolling.
As do most phase one studies, we have been enrolling patients with a variety of different solid tumors.
It's not like we're just getting breast cancer or just getting lung cancer or just getting colorectal cancer. We are at.
It's really a.
Mortgage sports.
So we have enrolled patients with a variety of.
Solid tumors.
And all of these patients have been heavily pre treated they have exhausted quote unquote standard of care therapeutic options, which is very typical for phase one programs.
Understood that makes a lot of sense, especially considering its phase one.
Guess, then as well as a brief follow up to that when you look a little further ahead and you start selecting out dose expansion cohorts for Norad that site glib to what degree do you think you might be able to use what you've observed in your phase one dose escalation towards indications.
Selection or will that perhaps purely based off of the preclinical work that you've done. Thanks.
So we will.
Yes, so we will clearly look at the.
Phase one data very carefully to see if there's a signal.
That we see that as you know.
Unexpected.
But we will also look very closely at our preclinical data.
And.
No hints from preclinical data and and direction from preclinical data and we will look at.
Trials, a myriad of trials that have been conducted.
With other CDK four six inhibitor. So we are assessing multiple different potential tumor types indications combinations et cetera, and we'll have a.
Final group for the basket study or bucket trial.
In the next several months.
Understood. Thank you and if I may just squeeze one last one in there how are you, perhaps thinking about potential development partnerships for <unk>, especially as you bring this further through clinical development.
I mean would you like to take that please sure. Thanks for the question Charles So as we think about partners for neuro hazards frankly, we control worldwide rights outside of China, So geographic partnerships as well as companies that are interested in the indications that we're interested in pursuing it it's a ripe opportunity.
For collaboration.
Great. Thank you for taking all my questions.
Got you.
Our next question comes from the line of demand.
Ladenburg you may begin.
Good evening, Thanks for taking my questions and I hope everyone is well my question is on <unk>.
Click program.
Yeah look towards potentially identifying a recommended phase two doses in the second half this year.
Could you provide more color on.
China of course, the call Amendment.
Or both.
Cohorts do you plan to and then Youll Protocol, then perhaps go to higher doses based on that.
Mark.
Yes, so thank.
Thank you for the question.
The protocol in China.
Panics wrote the protocol.
Through five dose cohorts.
And up to 200 milligrams a day three weeks on one week off.
They are currently enrolling that fifth dose cohort as I mentioned.
To date through the first four cohorts.
Have not seen any D L cheese et cetera.
So their protocol as currently written did not allow them to continue to dose escalate.
So they are in the process of preparing a protocol amendment, which will allow them to continue on.
With doses above 200 milligrams a day three weeks on one week off.
Our protocol.
Here in the U S. On Canopus protocol was written a little bit differently upfront. So that our protocol allows us to continue to dose escalate.
In increments of 40 milligrams daily on a continuous basis. So we are.
We are not we are not forced to do a protocol amendment just because we've gotten to the 200 milligram a day dose does that answer your question.
Yes, it does and it could be helpful. If you maybe mentioned also deal.
So have you maybe go up to higher doses or like would it lead you could do that or are you actually.
Speaking to our original personal calling.
If you could remind maybe the dose escalation study in terms of how how you plan to Gulfport.
So click program.
So.
Okay.
Go ahead, Steve.
No no go ahead.
Okay. Thank you box, who as you know.
But three weeks on one week off protocol study in Shanghai is a bit different than the U S study, which is every day and we and we can't predict.
So clearly as Mark said that part of the study in China will have an amendment will be dose escalating. We don't know if we will also be not seeing Dl cheese in the U S. Every day study to date, we have not.
If that continues to be the case as we dose escalate then we will also amend the protocol and continues to dose escalate, but the core just every day dose results can be different that's why we designed the trial this way to mimic the way the CDK four and six inhibitors are prescribed.
In the U S. Two of the drug's prescribed three week on week off.
One of the drivers prescribed daily and we don't know what will be required to optimize the recommended phase two dose cycle and so we will look at both studies and then Mark's team will make a decision how best.
Best next steps.
Sounds great. Thank you. That's helpful. My second question is around the date of this termination.
Back to you to see that up from now let's quickly could you maybe give a bit more color on what are we expecting to see how the data will be disseminated I'd be looking for a scientific conference.
Just curious.
Mark and I, both come out of a very academic background. So at some point, we will no doubt present this data at a medical conference and important medical conflicts hard to predict which one of course, we don't know when we'll have the complete data set.
And then when you have to coordinate that with abstract deadlines to meet the deadline.
Subsequent meeting so no doubt this data, which is very important will be presented at <unk>.
A major medical conference when we are ready to present the data.
Yeah.
That's helpful. So my last question would be on the financials I noticed there is a slight reduction in operating expenses. So mark I'm curious, if you're expecting a similar trajectory in the subsequent quarters.
Hi, Thanks for the question I think.
<unk>.
Our operating cash burn throughout 2021 was about four one and $4 $2 million per quarter.
If you take out changes in working capital and I think that reflects as I stated earlier, the company's focus on rapid cycling being a phase one company as opposed to 2020, when we were a pivotal phase III company with a global trial.
So I I predict or project that our operation our operating cash burn will be around the same level, while we remain a phase one company.
And then as we get into.
Further studies down the road either expansion cohorts in our phase II study or other studies.
I think the cash burn would increase.
But until those things happened I think we're probably at around the same level for the at least the near term.
Thank you for answering my question.
Our next question will come from the line of Joe. Thank goodness from H C. Wainwright you may begin.
Hey, guys. Good afternoon, thanks for taking the questions two questions actually the first one I'll admit right now, it's probably a little bit leading.
So when you consider the rig asserted programming are dead patients.
The standard of care for our Deb has the potential to change quite dramatically over the next year, especially after crystals positive gene therapy data showing significant wound closure. So I guess, how I would approach the question is.
The role that rig assertive can still play in are dead patience with FCC over the long term. Despite say increased wound closure because these patients basically from day, one have seen this constant insult an injury to their skin layer.
Thanks.
Sure.
A stab at that you know obviously.
The gene therapy program by Crystal is very exciting and we look forward to hearing more about their results.
We cannot predict being an experimental program the effects of eventually on the patients who are dead.
And whether or not.
How how extensive the healing process will be with gene therapy.
And will that continue.
Predilection to develop squamous cell carcinoma, or and that can be underlying.
Jean deficits may be corrected, but to what degree will be 100%, 10% 20, I think more data needs to be generated I think whats interesting in my view about the odd that study is it polo like kinase is driving these squamous cells and there are although squamous cell.
<unk>.
Humanity.
Much more common.
Squamous cell lung the cervix.
And next squamous cell and so.
All of them may not be driven by polo like kinase, but the ones that all down the road, we'd be very interested in looking at these patients as well and of course, we're looking for additional patients with this ultra rare odd Deb disease complicated by squamous cell if somebody can increase Tacoma.
Ah patients treated with Lisa said, we're very excited this patient remains on study they remain in a complete response of yen Nader quite extraordinary. So we look forward to the results from Crystal and continuing to develop really go sort of as well.
Great for that I appreciate it Steve and then my second question actually sticks with rig assertive, it's more of a.
A little bit forward looking as well you know as you look towards your metastatic melanoma program and beyond to enhance the profile about the immune stimulatory properties I guess.
As you look at the clinical studies, what would be any of the translational plans or analyses that you might be looking towards to show to further support the immuno mileage modular toy properties.
Mark do you want to take that.
Sure.
So.
We could.
We could spend.
Spend a few hours talking about that but in a nutshell.
I think that in the melanoma program. They have a variety of different court of studies that theyre going to be looking at.
To look at what changes actually take place in the tumor micro environment, what kind of cell infiltrates are there what kind of cytokines releases, there et cetera et cetera. So as you can imagine.
The melanoma study the melanoma.
ISS that is going to be getting underway shortly yet.
Vendor built.
That.
That study is going to be looking at a variety of different.
Things.
And it's I really I have to be careful in what I say, because it's not publicly available yet, but they are going to be looking at a variety of things that will.
Then once we have the answers to those questions will hopefully allow us to start looking very carefully at the combination of a <unk>.
Check point inhibitor and Rico, Sir to perhaps not only in melanoma, but other tumor types and be able to narrow down or focus on particular populations that would potentially be of greatest interest, but I promise you that study is going to do a <unk>.
A lot of Korlym work.
Trying to answer this very question.
Understood. Thanks, a lot guys.
Yes.
Thank you.
A lot of time, we have for questions today I'd like to turn the call back over to the speakers for any closing remarks.
Well, we'd like to thank all of you.
Really very insightful questions today and thank you.
Also thank you for participating in today's update call.
We look forward to executing on our business plan.
And to keep you appraised of our progress with our research compounds.
We appreciate your continued interest in these programs.
Thanks, again for joining us and have a lovely evening and look forward to talking more in the future about our advances.
<unk>.
Ladies and gentlemen, thank you for your participation on today's conference call. This concludes today's event you may now disconnect everyone have a great day.
And as we speak.
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