Q4 2021 CASI Pharmaceuticals Inc Earnings Call
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Yeah.
Good morning, and welcome to the <unk> Pharmaceuticals year end 2021 conference call.
Good morning and welcome to the Cathy Pharmaceuticals year-end 2021 conference call. All participants will be in the tsunami mode.
All participants will be in listen only mode.
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Speaker Change: To withdraw your question, please press star then two. Please note that this event is being recorded. I'm Alex from the conference order, Rui Zhang, Vice President of Cassie Pharmaceuticals. Please go ahead.
To withdraw your question please first starting to.
Please note this event is being recorded.
So from a comp sort of regime Vice president of Kathy Pharmaceuticals. Please go ahead.
Thank you Anthony and good morning, everyone. Welcome to Kashi is false culture and year end conference call.
Rui Zhang: Thank you, Anthony, and good morning, everyone. Welcome to CACI's fourth quarter and year-end conference.
Rui Zhang: Early today, CAICI issued a press release providing the details of the company's financial results for the quarter ended December 31, 2021.
Earlier today <unk> issued a press release, providing the details of the company's financial results what called her ended December 31st 20 tons you want.
Rui Zhang: This press release is available in the investor section of the company's website.
This press release is available in the investors section of the company's website.
Rui Zhang: Today's call will be led by Dr. Wei Wuhe, our chairman and CEO , along with Mr. Larry Zhang, our president.
Today's call will be led by Dr. Caraway Walker, our chairman and CEO , along with Mr. Larry Young old President.
Rui Zhang: Dr. Alex Dukiewski, our Executive Vice President and Chief Medical Officer.
Doctor Alex to keep ski.
Exactly what vice President and Chief Medical Officer Dr.
Speaker Change: Dr. Jim Goldschmidt, Chief Business Development Officer. They will also be available to answer questions during the Q&A portion of this call. As a reminder, we will.
Dr. James Goldsmith excuse me the vitamin officer. They will also be available to answer questions. During the Q&A portion of this call.
As a reminder, we will be making forward looking statements, including our business plans objectives and milestones.
Speaker Change: including our business plans, objectives, and milestones.
Speaker Change: This forward-looking statement is not a guarantee of future performance, and therefore you should not put undue reliance on it.
These forward looking statements are not a guarantee of future performance and therefore, you should not put undue reliance upon them.
Speaker Change: These statements are subject to numerous risks and uncertainties that could cause actual results to differ materially from those projected or implied in our forward-looking analysis.
Pigment are subject to numerous risks and uncertainties that could cause actual results to differ materially from those projected or implied in our forward looking statements.
Speaker Change: But description of the important factor that could cause actual result to differ. We refer you to the statements in our.
Well a description of important factors that could cause actual results to differ we refer you to the statements I see SEC filings.
Speaker Change: It is now my pleasure to turn the call over to our chairman and CEO , Dr. Wei Wuhe.
It is now my pleasure to turn the call over to our chairman and CEO Dr away with it.
Uh huh.
Wei Wuhe: Thank you, Ray. Good morning, everyone, and thank you for joining us.
Thank you Ray good morning, everyone and thank you for joining US we will begin the call with an update on our lead programs.
Wei Wuhe: We will begin the call with an update on our lead programs and near-term catalysts, followed by our
Near term.
Catalyst.
Followed by our financial highlights.
Wei Wuhe: 2021 was a year of unparalleled growth and advancement for cash.
2021, what's the idea.
The apparel world.
That's all cash.
Wei Wuhe: The progress made in the past year reinforces our cause in building a leading commercial global pharmaceutical company.
The progress made in the past the year reinforces our cost in building, a leading commercial global pharmaceutical company to offer innovative therapies to cancer patients.
Wei Wuhe: to offer innovative therapies to cancer patients.
Wei Wuhe: I want to thank all functions of our team for their continued dedication, and I'm extremely proud of them.
I want to thank all functions of our team for their continued dedication.
I'm extremely proud of the accomplishment.
Wei Wuhe: Cassie's mission is to bring innovative medical solutions.
Kashi mission is to bring innovative medical solutions.
Wei Wuhe: to meet the unmet medical needs around the globe. More specifically, we are initially
To meet the.
Medical needs around the globe.
Specifically, we are initially executing our strategy leveraging global innovation to address unmet needs of China's aging population.
Wei Wuhe: leveraging global innovations to address the unmet needs of China's aging population.
Wei Wuhe: The China strategy is one of the most interesting medical innovation opportunities in our lifetimes. First of all, China has the world's...
The China strategy is one of the most interesting radical innovation opportunities in our lifetimes.
First of all China has the woods.
Largest population.
Wei Wuhe: Secondly, China's pharmaceutical development process is progressively harmonizing with global developed economies.
Secondly, China's pharmaceutical development process.
Progress simply harmonizing with global developed economies.
Wei Wuhe: The vast patient population provides an unparalleled clinical trial resources for global innovation.
The faster the patient population.
Bye.
Comparable clinical child resources for global innovations.
Wei Wuhe: Cassie is developing such a strategy to bring life-changing products to patients.
Kashi is developed in such a strategy to bring life changing products to patients.
Wei Wuhe: one product at a time with an initial focus in the hematology oncology market.
One product at a time with an initial focus in the hematology oncology market.
Wei Wuhe: Now, let's move to Cassie's first commercialized product, Evo Valor.
No that's supposed to kathy's first commercialized product if a ballot.
Wei Wuhe: We are pleased to report $9.12 million U.S. dollars in EVAMILA revenues for the fourth quarter and $30 million for the full year 2021.
We are pleased to report the highest 0.1 2 million U S dollars.
Revenues for the fourth quarter, and a $30 million for the full year 2021.
Wei Wuhe: We have achieved our goal for 4-year 2021 revenue growth to reach over 100% growth.
We have achieved our goal for full year 2021 revenue growth two rich over 100% growth.
In 2021.
Wei Wuhe: Ivermala was used in the treatment of nearly 6,000 patients in China.
Bylaw, what's used in the treatment of nearing 6000 patients in China.
Wei Wuhe: As a reminder, Ivermela is approved in China for use as a high dose.
As a reminder.
<unk> is approved in China for use as a high dose conditioning treatment.
Wei Wuhe: Conditioning treatment prior to hematopoietic stem cell transplantation in patients with multiple
<unk> appointed stem cell transplantation.
In patients with multiple myeloma.
Wei Wuhe: Iwamala is a proprietary formulation with patent protection until at least 2030.
<unk> is a proprietary formulation, which patent protection until at least 2030.
Wei Wuhe: and is currently the only form of injectable Valproline commercially available in China.
Currently the only form of Ingestible Wellpoint com.
Partially available in China.
Wei Wuhe: We anticipate that Ipomala will continue to be the core of our commercial operation in the quarters ahead.
We anticipate that people will continue to be the core of our commercial operation in the quarters ahead.
Through the efforts of the global coffee team and our commercial group of more than 100 hematology fell.
Wei Wuhe: Through the efforts of the global CAFI team and our commercial group of more than 100 hematology sales and medical marketing specialists in China.
Medical marketing specialists in China.
Wei Wuhe: We have built a strong foundation for our commercial franchise.
Building, a strong foundation for our commercial franchise.
Wei Wuhe: our high-quality specialty sales and marketing team.
High quality specialty yourself and marketing team isn't the hematology oncology market in China.
Wei Wuhe: in the hematology oncology market in China is a major competitive advantage.
Major competitive advantage.
We have established access to a substantial number of key opinion leaders, who can advise us on the other Matt Matt medical needs of out patient population.
Wei Wuhe: We have established access to a substantial number of key opinion leaders who can advise us on the unmet medical needs of our patient population.
Kathy continues to pursue a similar strategy with respect to marketing efforts and.
Wei Wuhe: Cassie continues to pursue a similar strategy with respect to marketing efforts and physician visits.
Physician visits to further adopt.
Wei Wuhe: to further the adaptation of stem cell transplantation.
Adult patient of stem cell transplantation.
Wei Wuhe: as a standard of care in the multiple myeloma treatment setting and it will continue working to address the persistent high unmet need in this patient.
Standard of care in the multiple myeloma treatment setting.
Well continue walking to address the persistent high unmet need.
In this patient population.
Speaker Change: Now I will turn to our Chief Medical Officer and Executive Vice President, Dr. Alex Zukoski.
Now I'll turn to our Chief Medical Officer, and Executive Vice President.
Alex Zuchowski on to our some of our most exciting ongoing pipelines.
Alex Zukoski: on to some of our most exciting ongoing pipelines.
Yes.
Alex Zukoski: Thank you, Wei Wu. Good morning. I am Alex Sikiewski, the CASI CMO. And for the next few minutes, I will be providing a brief update on the CASI pipeline. Let me start with CNCT19. Our partner, Juventus Cell Therapy, continues to develop the development of CNCT19, an autologous CD19-directed CAR-T investigational product for which CASI has co-commercial and profit-sharing rights.
Thank you will.
Good morning, I am Alex acute ski the Cassie CMO and for the next few minutes I will be providing a brief update on the Cassie pipeline, let me start with C. N C. T 19, our partner Juventud self therapy continuously develop the development of C. N C T 19, and it targets CD 19.
Directed car T investigational product for which Cassie has co commercial and profit sharing rights C. N. C. T 19 is being developed as a potential treatment for patients with Hematological malignancies, which express CD 19, including B cell acute lymphoblastic leukemia.
Alex Zukoski: CNCT19 is being developed as a potential treatment for patients with hematological malignancies which express CD19, including B-cell acute lymphoblastic leukemia and B-cell non-Hodgkin's lymphoma.
And b cell non Hodgkin's lymphoma.
Alex Zukoski: Although to date the development has been focused in China, in January CNCT-19 received orphan drug designation by the U.S. FDA.
Although to date the development has been focused in China in January C. N. C. T 19 received orphan drug designation by the U S. F D. A.
C N C. T 19 is being locally developed.
Alex Zukoski: CNCT 19 is being locally developed and will be locally manufactured.
It will be locally manufactured in China, which distinguishes the program from other C. N C. T 19 therapies developed and manufactured in part outside of China pricing.
Alex Zukoski: which distinguishes the program from other CNCT-19 therapies developed and manufactured, in part, outside of China.
Alex Zukoski: Pricing of cell therapy and available drugs in China, particularly premium and innovative products, is a crucial issue for patients.
Pricing of cell therapy, and available drugs and cat in China, particularly premium and innovative product products is a crucial issue for patients.
Similar CD 19, directed therapy programs being developed and manufactured outside of China are subject to certain ex China, CMC and higher cost of goods, making the price point significantly higher than where we believe the price point of C. N C. T 19 should be.
Alex Zukoski: Similar CD19-directed therapy programs being developed and manufactured outside of China are subject to certain ex-China CMC and higher cost of goods, making the price point significantly higher than where we believe the price point of CN-CT19 should be.
Alex Zukoski: Juventus has completed the Phase I studies in BALL and BNHL in China and is currently enrolling in the Phase II registration studies for both indications.
<unk> has completed the phase one studies and B a L. L N B NHL in China and is currently enrolling in the phase two registration studies for both indications.
Alex Zukoski: Throughout 2021, our commercial franchise has thoroughly prepared for the anticipated NDA filing.
Throughout 2021 our commercial franchise has thoroughly prepared for the anticipated NDA filing of the CD 19, directed car T program, which we currently expect to be in the second half of 'twenty to 'twenty two.
Alex Zukoski: of the CD19 Directed CAR T program, which we currently expect to be in the second half of 2022.
Alex Zukoski: Next, I will address our other product candidates in the pipeline.
Next I will address our other product candidates in the pipeline.
B I 12 O six.
Alex Zukoski: Along with our partner, BioInvent, we continue to progress the development and regulatory framework for BI 1206 in China.
Long with our partner violence event, we continue to progress the development and regulatory framework for B I 12 O six in China.
Alex Zukoski: We licensed BI-1206, a first-in-class, fully-human monoclonal antibody that targets the FC-gamma R2B receptor for the greater China market.
We licensed by 12 O six our first in class fully human monoclonal antibody that targets the FC gamma or two b receptor for greater for the greater China market by 12 O. Six has a novel mode of action blocking the single inhibitory antibody checkpoint receptor F.
Alex Zukoski: BI-1206 has a novel mode of action, blocking the single inhibitory antibody checkpoint receptor FC-Gamma-R2B. To unlock
Gamma or to be to unlock potential anti cancer immunity in both hematological malignancies and solid tumors.
Alex Zukoski: potential anti-cancer immunity in both hematological malignancies and solid tumors.
Alex Zukoski: FC-gamma receptors are unique antibody checkpoints that can modulate the efficacy of tumor cell-directed targeting antibodies and immune checkpoint targeting antibodies used in cancer immunotherapy.
C. Gamma receptors are unique antibody checkpoints that can modulate the efficacy of tumor cell directed targeting antibodies and immune checkpoint targeting antibodies used in cancer immunotherapy.
B I 12, six can potentially be used with all therapeutic monoclonal antibodies that rely on a D. C C. Our CDC for efficacy.
Alex Zukoski: BI-1206 can potentially be used with all therapeutic monoclonal antibodies that rely on ADCC or CDC for efficacy.
Alex Zukoski: BI-1206 is currently being investigated in China in two phase 1-2 trials. One is evaluating BI-1206 in combination with rituximab for the treatment of non-Hodgkin's lymphoma, which includes follicular lymphoma, mantle cell lymphoma, and marginal zone lymphoma. These patients who have relapsed are refractory to rituximab.
B, a 12 or six is currently being investigated in China in two phase one two trials one is evaluating be a 12 month six in combination with rituximab for the treatment of non Hodgkin's lymphoma, which includes follicular lymphoma mantle cell lymphoma, and marginal zone lymphoma. These patients who are real.
Laughs or are refractory to Rituxan met a second phase one two trial is investigating by 12 or six in combination with the anti PD, one therapy keytruda, otherwise known as pamper Elysium mab in patients with solid tumors.
Alex Zukoski: A second Phase I-II trial is investigating BI-1206 in combination with the anti-PD-1 therapy Keytruda, otherwise known as Pembrolizumab, in patients with solid tumors.
The National Medical products administration in China granted by 12 O six clinical trial application approval in December 2021 .
Alex Zukoski: The National Medical Products Administration in China granted BI-1206 clinical trial application approval in December 2021. Earlier this year, the U.S. FDA granted orphan drug designation for BI-1206 for the treatment of follicular lymphoma, the most common form of slow-growing non-Hodgkin's lymphoma.
Earlier this year the U S. FDA granted orphan drug designation for <unk> 12, or six for the treatment of Follicular lymphoma. The most common form of slow Garang lymphoma.
Slow growing non Hodgkin's lymphoma, together with bio invent we continued to develop by 12 O six in both Hematological malignancies, and solid tumors with Cassie responsible for the development and commercialization in greater China.
Alex Zukoski: Together with BioInvent, we continue to develop BI-1206 in both hematological malignancies and solid tumors, with Cassie responsible for the development and commercialization in greater China.
Alex Zukoski: Our lead indication for BI-1206 will be in combination with rituximab in patients with relapsed refractory non-Hodgkin's lymphoma. Now a word about.
Our lead indication for <unk> will be in combination with rituximab in patients with relapsed refractory non Hodgkin's lymphoma.
Now worried about C B 5339.
Alex Zukoski: In 2021, we acquired CB5339, a first-in-class VCP P97 inhibitor from Cleve Therapeutics for the greater China market.
In 2021, we acquired <unk> 339, a first in class D. C. P. P 97 inhibitor from cleaved therapeutics for the greater China market.
Alex Zukoski: CB 5339 represents a promising new agent for selectively targeting the VCP.
C. B 5339 represents a promising new agent for selectively targeting the V. C. P P.
Alex Zukoski: P97 receptor in cancers and it is a complementary addition to our pipeline of hematology-oncology assets.
P ninety-seven scepter in cancers with Andy is complementary and it is a complementary addition to our pipeline of hematology oncology assets.
Alex Zukoski: Cleve is responsible for the ex-China development of CB5339, an oral second-generation molecule, small-molecule inhibitor of VCP.
<unk> is responsible for the ex China development of CB 5339, an oral second generation molecule small molecule inhibitor of V. C. P.
P 97.
Alex Zukoski: And this end is evaluating the molecule in phase one clinical trials in patients with acute myeloid leukemia and myelodysplastic syndrome.
And this and is evaluating the molecule in phase one clinical trials in patients with acute myeloid leukemia, and Myelodysplastic dysplastic syndrome.
Alex Zukoski: Together with Cleave, we plan to develop CB5339 in AML as the initial potential indication.
Together with Cleeve, we plan to develop <unk> 5339 in AML as the initial potential indication with cash are responsible for the development and commercialization in greater China.
Alex Zukoski: with Cassie responsible for the development and commercialization in Greater China.
Alex Zukoski: The CB-5339 CTA application for multiple myeloma indication is in preparation after receiving an acceptance letter for the CB-5339 IND package from the China Center for Drug Evaluation.
The CB 5339, Cta application for multiple myeloma indication is in preparation after receiving an acceptance letter.
For the C. B five three to nine indie package from the Chinese center for drug evaluation, we look forward to the joint development of <unk> three to nine with a focus on helping to accelerate the development program by initiating clinical trials for the current and potential new indications in China.
Alex Zukoski: We look forward to the joint development of CB5339 with our focus on helping to accelerate the development program by initiating clinical trials for the current and potential new indications in China.
Alex Zukoski: Now a short description of CID-103.
Now a short description of C. I D. One O three.
Alex Zukoski: CID-103 is a fully human IgG1 anti-CD38 monoclonal antibody, recognizing a unique epitope that has demonstrated encouraging preclinical and safety profile compared to other anti-CD38 molecules.
See I D. One O three is a fully human <unk>, one anti CD 38, monoclonal antibody recognizing a unique epitope that has demonstrated encouraging preclinical and safety profile compared to other anti CD 38 molecules.
Alex Zukoski: CASSI maintains exclusive global rights.
Kashi maintains.
Exclusive global rights and is developing C. I D. One of three for the treatment of patients with multiple myeloma in June 2021, we enrolled the first patient in our phase one dose escalation and expansion study.
Alex Zukoski: and is developing CID-103 for the treatment of patients with multiple myeloma. In June 2021, we enrolled the first patient in our Phase I Dose Escalation and Expansion Study.
Alex Zukoski: of CID-103, the phase one study in patients with previously treated
Let's see I do want all three of the phase one study in patients with previously treated.
Alex Zukoski: relapsed and refractory multiple myeloma is currently ongoing in France and the UK.
Relapsed and refractory multiple myeloma is currently ongoing in France, and the U K.
Alex Zukoski: This phase one trial is expected to generate valuable information and has potential to provide early evidence of clinical activity in the treatment of patients with multiple myeloma.
This phase one trial is expected to generate valuable information and has the potential to provide early evidence of clinical activity in the treatment of patients with multiple myeloma.
A short.
Ascription of Iot for project Loon.
Alex Zukoski: Lastly, on FILE TIPA, we are in the process of regulatory submissions for two indicators.
Lastly on <unk>, we are in the progress.
Assess our regulatory submissions for two indications.
Alex Zukoski: This completes the update of our key pipeline assets, so I'll now turn it back to Wei.
This completes the update of our key pipeline assets. So now I'll turn it back to Weibo.
Alex Zukoski: Ms. Rae Zang is going to give us a financial highlight, Rae.
Mrs.
Hey, Dan it's going to give us a financial highlights right.
Yeah.
Rae Zang: Thank you, Dr. He. On today's call, I would like to address key highlights in our financials for the year-ended December 31st, 2021. Our annual report on Form 10-K provides further information regarding the financial results.
Yeah, I think you would have to.
On today's call I'd like to address key highlights you know all the financial year ended December 31st 20 times with one of our annual report on Form 10-K provides further information regarding the financial results.
Rae Zang: Revenues consist of product sales of Evo Myla. Revenue was $30 million for the year ended December 31st, 2021 compared to $15 million for the year ended December 31st, 2020.
Revenue was consists of product sales of evil Mailer.
It was 13 million for the year ended December 31st 2021 compared to 15 minutes, but year ended December 31st 2020.
Rae Zang: Cost of revenue was $12.6 million for year 2021 compared to $9.5 million in year 2020.
Cost of revenue of $12 6 million for year, 2021 compared to $9 5 million Euro 2020, which includes the royalty payment of $5 9 million 3 million for the same period.
Rae Zang: which includes royalty payment of $5.9 million and $3 million for the same period.
Rae Zang: Cost of revenue excluding royalty was $6.6 million and $6.6 million for year 2021 and year 2020.
Cost of revenue, excluding royalties were $6 6 million and 6.6 million full year, 2021 and year 2020.
Rae Zang: We close this year with 38.7 million cash and cash equivalent.
The close of this year, we used $38 7 million cash and cash equivalent.
Rae Zang: The company has sufficient resources to fund its operations beyond 2020.
The company has sufficient resources to fund its operations beyond the 2022 what continues to be extremely thoughtful on how we deploy our cash with a focus on creating shareholder value.
Rae Zang: We continue to be extremely thoughtful on how we deploy our cash with a focus on creating shareholders value. With that, we are now open for Q and.
With that we're now open for Q&A.
Yeah.
We will now begin the question and answer session.
Rae Zang: To ask a question, you must press star then 1 on your telephone keypad. If you are using a speakerphone, please pick up your handset before pressing the keys. To withdraw your question, please press star then 2. At this time, we will pause momentarily to
To ask a question you May press Star then one on your telephone keypad.
Speaker phone please pick up your hand typical person keys.
To withdraw your question. Please press Star then two.
This time, we will pause momentarily to assemble our roster.
Okay.
Our first question comes from Leland <unk> with Oppenheimer you May now go ahead.
Speaker Change: Our first question comes from Leland Gershel with Oppenheimer. You may now go ahead.
Leland Gershel: Good morning. Thank you for taking the questions and congratulations on the progress Question for me on the car T side, you know with two anti CD 19 products now approved in China wanted to ask you if you can share with us if you know what the pricing of those is currently and You can share with us your strategy with respect to competitive pricing for your product in that market. Thank you
Oh good morning, Thank you for taking the questions and congratulations on the progress.
A question for me on the car T side, you know with two anti CD 19 products now approved in China.
Wanted to ask if you can share with us.
No what the pricing of those is currently and if you can share with US your strategy with respect to competitive pricing for your product.
In that market. Thank you.
Speaker Change: Yeah, I will comment that so the first two approval or imported kati 19 therapy approved in the u.s. Because the nature of the kati therapy is a autologous individualized, you know Therapy it is actually very expensive in China right now. It's priced at one point
Yeah, I won't comment on that so the first two approval.
All imported KOB 219 therapy approved in the U S. Because the nature of the car T therapy, it's a autologous visualized.
So it is absolutely very expensive in China right now it's priced at one point.
Speaker Change: to around 1.2 million U.S. RMB in China, which is about close to 200,000 U.S. dollars per trillion.
To around the $1 2 million U S.
I am Pete in.
In China, what's your.
About close to 200000 U S dollars put shape.
Speaker Change: So we believe we will price it.
So we believe we will price at a six.
Speaker Change: Significantly lower than just pricing. So obviously we have not got the drug approved. So we believe we will price it Our COVID-19 at the significant less cost and the imported COVID-19
It's significantly lower than just pricing. So obviously, we have not got the drug approved so we believe we will price it.
Our COVID-19 at a significantly less cost.
Important countries.
Speaker Change: Okay. Thank you, Wei Wu. And then just a question on 1206, when we should expect to see the
Okay. Thank you Wei Lu and and then just a question on 12 O six one.
When we should expect to see the.
Speaker Change: the clinical data update on that compound in its two different trial settings. Thank you.
The clinical data update on that compound and it's.
Two different.
Trial settings. Thank you.
So Lee you want to yeah.
Speaker Change: Yeah, this is Alex. It'll be up to our partner, BioInvent, to be releasing the data. They are, I believe, will be making some public statements on the potential presentations in the near future, so I'd advise you to look at the BioInvent website for details. Thanks so much.
Yeah. This is Alex it'll be up to our partner and bioinformatics to be releasing the data are.
They are I believe we will be making some public statements on the.
Potential presentations in the near future. So I would advise you to look at the bio invent.
Website for details.
Thanks, so much Alex great. Thanks again.
Thanks, Matt.
Okay.
Speaker Change: Our next question will come from Sean Lee with HC Wainwright. You may now go ahead.
Our next question will come from Sean Lee with H C. Wainwright you May now go ahead.
Sean Lee: Good morning guys, congrats on a great quarter and thanks for taking my questions.
Good morning, guys, congrats on a great quarter and thanks for taking my questions.
Sean Lee: My first one is on the COVID. So recently, both the Northeast, Shenzhen, and now Shanghai have been locked down. I was wondering whether these lockdowns will cause a significant disruption to yourselves this year?
Just my first one is on the Covid. So recently, both the North East Shenzhen Shanghai had been locked out I was wondering whether these lockdowns.
Cause a significant disruption to yourselves this year.
Speaker Change: Yeah, so the first, I think, for the first two months, you know, it's business as usual. But we are actually seeing some difficulty of communicating with hospital physicians in March. So we are obviously, you know, very, you know, diligently, you know, monitoring the situation in China.
Yeah. So the first I think for the first two months.
Business as usual, but we are actually seeing some difficulty of communicating ways.
Hospitals physicians in March so we are obviously at all.
Very good.
Diligently.
Monitoring.
The situation in China.
I see thanks and in the prepared remarks, you mentioned that your.
Speaker Change: I see. Thanks. And in the prepared remarks, you mentioned that the sales force in China is now over 100 individuals. I was wondering whether you still foresee a growth of this year, and if so, where do you expect the number to get to?
All sports in China is now over 100 individuals I was wondering whether do you still foresee a growth of this this year and if so where do you expect that number to get to.
Yes.
I didn't catch the last question.
Speaker Change: I didn't catch the last question, the last comment. Oh, well, yeah, if you still plan on growing your sales force, what number do you think you can get to?
Last comment Oh, well, yes, if you still plan on growing your sales force what number do you think you can get to.
Speaker Change: Oh, yeah. So right now, actually, our cell force probably is sufficient for our first drug, Ivermala.
Oh, Yeah. So right now actually our self was probably is sufficient for our first drug would give up a lot. So.
Speaker Change: So we are expending ourself for preparing for the CAR T19 launch.
We are expanding our sales force preparing for the top 219 launch.
Speaker Change: And because, you know, in order to, CAR T19 launch will be quite a challenging in China because this is a autologous cell therapy product. So we really are growing our marketing and sales team in preparation for CAR T19.
Because in order to Khartoum nine king launch it won't be quite challenging.
Challenging.
China, because it's just as a autologous cell therapy product. So we really.
Growing our marketing and sales team in preparation for car T launch.
So so we probably will eventually growth.
Speaker Change: So we probably will eventually grow.
Speaker Change: over 200,000 marketing people in China.
Over 200000 marketing people in China.
Speaker Change: in the next 18 months. Great to know. My last question is on the clinical side. For the CID-103, can we expect to see any clinical data this year?
Next page.
Mark.
Okay, great Great to know on my last question is on the clinical side for the CIB. One O. Three can we expect to see any clinical data this year.
Speaker Change: Sean, we are currently in an advanced stage of the dose escalation program. It all depends on.
Sean.
We are currently in a advanced stage of the dose escalation program.
It all depends on.
Speaker Change: how the data rolls out, but we have not had any plans to present it at AACR or at ASCO, but currently, if the data keeps...
How the data rolls out, but we have not had any plans to presented at ACR and <unk>, but are currently.
If the data keeps.
Speaker Change: moving the way it is. I think we may have a presentation at the upcoming ASH, but that's not a guarantee.
Moving the way. It is I think we may have a presentation at the upcoming ash, but that's not a guarantee.
Speaker Change: Great to hear that. That's all I have. Thanks again for taking my questions. Thanks, Sean.
Great to hear that that's all I have thanks again for taking my questions.
Thanks, Sean.
Thank you Shar.
Again, if you have a question. Please press Star then one.
Speaker Change: Our next question will come from Justin Zelen with BTIG, you may now go ahead.
Our next question will come from Justin Xenon with <unk> you May now go ahead.
Justin Zelen: Hi, team. Thanks for taking the question. Congrats on a great quarter here. You know, I just wanted to follow up about the ongoing situation of COVID lockdowns in China, and hope you all are staying safe, but was just curious if you see any disruptions to clinical trial activity in China, and kind of what your thoughts are on the latest situation on the ground there.
Hi team. Thanks for taking hi, how are you. Thanks for taking the question congrats on a great quarter here you know I just wanted to follow up about the ongoing situation of Covid Lockdowns in China and hope you all are staying safe, but was just curious if you see any disruptions to clinical.
While activity in China, and kind of what your thoughts are on the latest situation on the ground there.
Speaker Change: Yeah, my understanding is, you know, you know, we have not seen significant disruption in clinical trials.
Yes, my understanding is you know.
We have not seen significant disruption in clinical trials.
Speaker Change: We are seeing, you know, hospital is not allowing our health people to go meet with physicians.
We are seeing you know a hospital is not allowing our salespeople to go meet with physicians right. So the good thing about our Eagle Biologics is actually we think actually majority of the transplant physicians are already full.
Speaker Change: Right, so, and the good thing about our Iwamala is actually we think actually majority of the transplant physicians are now already familiar with.
Really a waste of drug.
Speaker Change: So, you know, the transplant procedure is still going on in China. So that's on the product side. We have not seen significant setback on clinical trials.
So so.
That's the transplant procedure is still going on in China. So that's on the product side, we have not seen significant setback on clinical trials.
At least for us.
Speaker Change: Great. Okay, that makes sense. And hopefully, you're all staying safe and the situation resolves soon. And then further, I just had a question, how you're thinking about potential additional business development transactions, potentially, or how you're thinking about, you know, potentially expanding the pipeline at Cassie. Thank you. Yeah.
Right, Okay that makes sense and hopefully you are all staying safe and in a situation resolved soon.
And then further I just had a question how are you thinking about a potential additional business development transactions potentially or or how youre thinking about potentially.
Expanding the pipeline at Cassie Thank you yeah.
Speaker Change: Well, you know, we, you know, actually I will say a few words and then Jim may chime in on our business development. We love our business model because, you know, China is a 1.4 billion people, you know, population country and it's a country embracing the modern innovative drug development pipeline.
Well you know we you.
Actually I will say a few words and then Jim may chime in on our business development.
Our business model, because you know China is a 1.4 building people.
You know population country.
So it's a country can break even for late embracing the mod in Illinois, just to follow up a pipeline and if so what do you think this small business model, we are using to look for global innovation, but using China as a.
Jim Goldschmidt: And so we think this small business model we are using...
Jim Goldschmidt: to look for global innovation but using China as a
Jim Goldschmidt: a market should go on for quite a while.
The market should should go on for quite a while.
Jim Goldschmidt: And we are aggressively looking at all sorts of assets.
We are aggressively looking at all sorts of assets.
Jim Goldschmidt: But right now we're focused on hematology oncology because this is really our core strength with our commercial.
But right now we're focused on hematology oncology because this is really our core strategy with our commercial.
Jim Goldschmidt: commercial franchise. We did over $30 million revenue for a very niche product. That's just proven. We have proven to investors that, you know, Cassie as a company, we really know how to commercialize.
Commercial.
Franchise we.
We did over $30 million revenue fall very niche product that has just proven.
We have proven to our investors.
Kashi as a company.
Really know how to commercialize.
Jim Goldschmidt: product in this particular niche market, and so we're very focused on looking for anything related to hematology oncology and And we are probably going to focus on this before the next
Our product in this particular niche market and so we're very focused on looking for anything related to hematology oncology.
And we are probably going to focus on this but for the next two years.
Jim Goldschmidt: CAR-T19 probably will be one of our major, major...
<unk> nine King probably will be one of our major major after it because this is this would be hopefully this will be the first Chinese domestically that followed the COVID-19 therapy.
Jim Goldschmidt: Effort because this is this will be hopefully this will be the first Chinese domestically developed COVID-19 therapy lower
Lower cost say 50000 patients we can treat with just a with this compound. So what does that say you know we will continue to look for anything which we think can make a difference for the patient Jim you want to make a few comments.
Jim Goldschmidt: There are 50,000 patients we can treat with this compound.
Speaker Change: So with that said, we will continue to look for anything which we think can make a difference for the patient. Jim, you want to make a few comments?
Jim Goldschmidt: Sure, sure, thank you, Wei Wu. And as Wei Wu said, yes, we have a very active business development group seeking to acquire additional innovative therapeutics.
Sure sure. Thank you way and that's why we've said, yes are we have a very active business development group seeking to acquire additional innovative therapeutics.
That complement our existing hema focus and expertise in China.
Jim Goldschmidt: our existing focus and expertise in China. And we also are looking for both
And we also are looking for both compounds in clinical development.
Jim Goldschmidt: compounds in clinical development as potentially commercial products that our sales and marketing organization could sell in China. So we have a very focused and aggressive BD organization. As Wei-Wu said, we want to leverage our ability to conduct clinical trials in China at the top HMOC institutions and forge strategic partners.
That's potentially a commercial products that or sales and marketing organization could sell in China. So we have a very focused and aggressive BD organization.
We as <unk> said, we want to leverage our ability to conduct clinical trials in China at the top he marked institutions.
And then towards strategic partners.
Jim Goldschmidt: strategic partnerships with the companies that we partner with by not only being a top co-development partner, but also being a strategic partner by investing in those innovative companies, which we believe really deepens and strengthens our collaboration.
Strategic partnerships with the companies that we partner with but not only be a top co development partner, but also.
Being in a strategic partner by investing in those innovative companies, which we believe really.
Deepens and strengthens our collaboration.
Jim Goldschmidt: and can provide additional return to our shareholders.
And can provide additional return to our shareholders. So you know our goal is to continue to seek out innovative therapeutics that really complement our existing pipeline in our core expertise.
Jim Goldschmidt: So our goal is to continue to seek out innovative therapeutics that really complement our existing pipeline and our core expertise. And we want to continue to strengthen Cassie's position as a leading HMON company in China.
And we're.
We're going to continue just strengthens Cassie position as a leading <unk> company in China.
Great. Thank you so much for taking the questions.
Yeah.
This concludes our question and answer session I would like to turn the conference back over to Dr. <unk> for any closing remarks.
Jim Goldschmidt: This concludes our question and answer session. I would like to turn the conference back over to Dr. Wei Wu for any closing remarks.
Thank you again for joining today's call. We have we have had a remarkable year satisfied kashi with progress across our hematology oncology portfolio, we continue to be encouraged by.
Wei Wu: Thank you again for joining today's call. We have had a remarkable year thus far at CASE with progress across our Hepatology Oncology portfolio. We continue to be encouraged by what we expect will be ahead for CASE. We look forward to leveraging our existing commercial infrastructure as we move forward on key business development initiatives.
We expect that will be helpful. As we look forward to leveraging our existing commercial infrastructure as we move forward on our key businesses.
Business development initiatives.
Wei Wu: Pursue pre-commercial launch activities for the CAR T19 program, drive expanded pipeline progress, and continue to observe sturdy ecological growth.
Sue create commercial launch activities for the top 219 program.
Drive expanded pipeline progress and continue to observe steady.
For us we thank each of you for your continued support and Kathy during this exciting period.
Speaker Change: We thank each of you for your continued support in CASI during this exciting period. Operator, thank you.
Operator, thank you.
You May now conclude this call.
Speaker Change: Thank you. The conference is now concluded. Thank you for attending today's presentation. You may now disconnect.
Thank you. The conference has now concluded. Thank you for attending today's presentation you may now disconnect.