Q1 2022 Innate Pharma SA Earnings Release

Okay.

Okay.

Juan: Swayampakula Ramakanth, Good morning everyone, my name is Juan, and I will be your conference operator today. At this time, I would like to welcome everyone to the Innate Pharma Fest Quater 2022 Business Update. All lines have been placed on mute to prevent any background noise.

Good morning, everyone. My name is Glenn and I will be your confidence operator today at this time I would like to welcome everyone to the innate pharma first quarter 2022 business update all lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and ask what especially on if you would like to ask.

Got a question during this time simply press the star followed by number one on your telephone keypad. If you would like to withdraw your question. Please press the star followed by number two.

Henry Wheeler: After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press a star, followed by number one on your telephone keypad. If you would like to withdraw your question, please press a star, followed by number two. I will now introduce Mr. Henry Wheeler, Head of Investor Relations. Please, Mr. Wheeler, go ahead. Thank you. Good morning and good afternoon, and welcome everyone.

I will now introduce to Mr. Henry Wheeler head of Investor Relations. Please Mr. Wheeler go ahead.

Thank you good morning, and good afternoon, and welcome everyone. This morning, and H issued a press release, providing a business update for our first quarter 'twenty. Two results. We look forward to highlighting the progress made during the quarter as well as addressing future goals and milestones for the press release and today's presentation are both available on the last section of our web.

Henry Wheeler: This morning, Innate issued a press release providing a business update for our first quarter 22 results. We look forward to highlighting the progress made during the quarter as well as addressing future goals and milestones. The press release and today's presentation are both available in the IR section of our website. On slide two, before we start, I would like to remind you that we will make forward-looking statements regarding the financial outlook in addition to regulatory and product plan developments. These statements are subject to risk and uncertainties that may cause actual results to differ from those forecasted.

Right.

On slide two before we start I would like to remind you that we will make forward looking statements regarding the financial outlook. In addition to regulatory and product development. These statements are subject to risks and uncertainties that may cause actual results to differ from those for cost of goods.

On slide three on today's call, we will be joined by Monday, but Ub Chief Executive Officer, who will then hand over to Joyce <unk>, EVP, and Chief Medical officer, and youngest Morrell EVP of business development and product portfolio strategy.

Henry Wheeler: On slide three, on today's call, we will be joined by Mondher Mahjoubi, our Chief Executive Officer, who will then hand over to Joyson Karakunnel, EVP and Chief Medical Officer, and Yannis Morel, EVP of Business Development and Product Portfolio Strategy. And we will also have our CFO, Frederic Lombard, on the phone for Q&A. Mondher, I'll now hand it over to you.

We will also have our CFO fredrik on board.

So Q&A Munda I'll now hand over to you.

And you're hungry good morning, good afternoon, everyone and thank you for joining this call.

Mondher Mahjoubi: Thank you, Henry. Good morning, good afternoon, everyone. And thank you for joining this call. Please move to slide four. And let me first start by reminding you that I was part of it. Our strategy centers around three key priorities, where we look to derive value from our early R&D efforts through later-stage partnerships whenever it makes sense to do so. First, we look to create near-term value, driven by our lead proprietary candidate, L'Equitemap, which is in development for the Chilean pharma. We did open an all-commerce cohort in microcystic fungal deaths in the Pellamax trial and also initiated two trials in the larger indication of fertile T-cell lymphoma.

Most insightful and let me first start by reminding you of all the strategy.

How did your centers around some key priorities, while we merchandise from our early R&D at close to a later stage.

Okay. It makes sense to do so first we look to create near term value driven by our lead proprietary candidates that could come up which is in development for lymphoma.

The open and all kind of school in Mexico.

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And Osha initiated two trials and the larger indications.

No.

Second we continue to fuel our pipeline and create longer term value leveraging our antibody engineering capability to develop innovative molecules.

Mondher Mahjoubi: Second, we continue to share our pipeline and create long-term value, leveraging our antibody engineering capabilities to develop innovative molecules with a primary focus on our multi-specific Lancashire-Engagement platform called NCAT. Sanofi has the most advanced anchors in the clinic, and we are nearing the clinic with the outcome. On the IBM VIN pathway, we have a Phase I underway for our Anti-CD73 antibody, APH52-1, in partnership with the Pauli Kalmett Institute, the anti-cancer center here in Marche.

Focus on novel multi specific patient engagement platform.

And get some.

Okay.

And kids in the clinic and we are nearing the clinic with the others.

On the aggregate pathway, we have in stage one underway.

Hello, and thank you Mr. Ricky if you actually Q1 performance.

Is it the polycom, making should you be and because its central Marseille and we are in discussion with all of them when they come on.

Mondher Mahjoubi: And we are in further discussions with AstraZeneca on the next step for our Anti-CD39 antibody, APH52-1. Last but not least, we continue to build a strong and sustainable foundation for our business, leveraging the various partnerships between Innate Pharma and industry, but also academia. Our focus here is to leverage the value of our product as much as possible. We want, indeed, to make sure that if we can gain valuable competence, The and Wendy Arevich. Pillar, or besides Pillar, if you can move to slide five, you can see the milestone summary for monoliginality.

The next step Paula and passion that you buy a P a strict too.

Paul.

Well, that's because we.

We continue to build a strong and sustainable foundation for business, the average and the values partnership between <unk>.

In the pharma industry, but also with academia, our focus here is to leverage the value of colorful but as much as possible.

We want to make sure that if we can get them.

He was comprehensive.

Baltimore gaming team coffee devoting all of the development plan for the product recently, not only validate our site, but also for capital we can name, but judging from the early portfolio.

Building on this Peter.

Besides to Peter if you could move to slide five.

You can see that might've, some summary, I'm wondering as you know.

We were very pleased to announce a couple of days ago that we had when she would therefore the milestone of 50 million yes.

Mondher Mahjoubi: We were very pleased to announce a couple of days ago that we had received a further milestone of 50 million US dollars for the dosing of the first patient in the Phase 3 trial, Pacific Lights, which is AstraZeneca's registration trial in Phase 3, unresectable lung cancer. This milestone further strengthened our company's cash. We remind you that we potentially have up to another $400 million in development and regulatory milestones and $425 million in sales milestones to come.

That's for the dosing of the first patient in the phase III trial.

Right, which is I was talking to go 100 patient trial in phase III.

Oh My gosh.

It's not as fun for them something our company cash position.

We remind you that you have potentially up to another $400 million in development and regulatory milestones and $425 million.

Change medicine.

Before I hand over to George and please move to slide six which is an overview.

Mondher Mahjoubi: Before I hand over to Joyson, please move to slide six, which is an overview of the pipeline. It shows how we have translated our science into a robust portfolio of proprietary and partnered activities. It also illustrates how we are executing against our strategies with our lead proprietary asset, Takutanab, supported by partners and earlier stage products, in particular from our NKcell Engager NK platform. We are also pleased to see progress throughout the portfolio, with several clinical assets continuing to progress from phase one through to a registration phase three trial.

Of the pipeline and it shows how we have to talk later derma science into a robust portfolio of proprietary and partnered assets.

It also in this page how we are executing against our strategy.

I will leave proprietary assets that could come up supported by Boston and earlier stage product in particular.

It gives a M castle, we also began to see the progress throughout the portfolio with several clinical assay.

To prevent from phase one to two a heightened promotional phase III trial, and we look for.

Mondher Mahjoubi: And we look forward to a series of potential clinical data readouts and catalysts in the upcoming couple of years as our R&D engine looks to leverage our scientific know-how in order to create sustainable data. I would like now to pass the call over to Joyson, who will review the progress made in our portfolio, starting with Lekki Kamad, our most advanced proprietary asset. Joyson, over to you. Thank you, Mondher.

For two series of potential clinical data Readouts and catalysts in the upcoming couple of years as our R&D engine looks to leverage our scientific knowhow in order to create a sustainable business I would like now to pass the call over to Jonathan who will review the progress maybe the old portfolio stuff and you look at some of our most.

Okay Jason.

Over to you.

Okay.

Thank you my Dear on slide seven let me start with our first in class humanized monoclonal antibody that targets immune receptor Q3 deal to us.

Joyson Karakunnel: On slide seven, let me start with our first-in-class humanized monoclonal antibody that targets an immune receptor, KIR3DL3. As you may recall, Kir3DL2 is an inhibitory receptor found in approximately 65% of patients across all cutaneous tissues. In the TELEMEC trial, Cohort 1, Recruiting Cesarean Syndrome Patients, could potentially be a pivotal call. For mycosis fungoides, we have cohorts two and three, which have been presented previously and are testing the hypothesis.

You May remember Q3 deal too is an inhibitory receptor found in approximately 65% of patients across all cutaneous T cell lymphoma.

In the telematic trial cohort, one recruiting surgery syndrome patients could potentially be a pivotal cohort.

For my cookies, so I'm glad that we have cohorts two and three which had been previously presented previously and are testing the hypothesis of non expresses and expresses a Q3 deal to using the frozen companion diagnostic assay.

Joyson Karakunnel: Non-expressors and expressors of QR3DL2 using the Frozen Companion Diagnostic As expected, our scientific hypothesis was confirmed in cohort 2. High Global Response Rates in Comparison to the Benchmark and the Non-Experts. A low global response rate in the non-expressed.

As expected.

Our scientific hypothesis confirmed was confirmed in cohort two.

Hi, Global response rates in comparison to the benchmark and been not expressing cohort.

Although our global response rate and the non expressing cohort.

Recently, we opened the all comers cohort to further evaluate our S. S. P E companion diagnostic which is being considered for late stage trials.

Joyson Karakunnel: Recently, we opened the All Commerce Cohort to further evaluate our FFPE companion diagnostic, which is being considered for late stage trials. This cohort is not expected to impact timelines for the readout of the trial, and the companion diagnostic data will aid further in the development of. On slide eight, let me summarize the progress we are making with the COVID. We are pursuing a fast-to-market strategy for LecudeMab in the niche setting of Cesare's Syndrome, where LecudeMab was granted U.S. Fast-Track designation and EU Prime designation in 2012. We have expanded past SESRI syndrome to microcystic mongolians, where we have seen encouraging preliminary data from our phase two trials.

This cohort is not expected to impact timelines for the readout of the trial and the companion diagnostic data will aid further in the development of the program.

Yeah.

On slide eight let me summarize the progress we are making with the kitimat.

We are pursuing a fast to market strategy for lacuna map and the niche setting of sensory syndrome, where lucrative mab was granted us fast track designation and prime designation in 2020.

We have expanded past surgery syndrome to me, Chris it's going to go and where we have seen encouraging preliminary data from our phase II trial.

For the sensory syndrome cohort enrollment is on track and we will still expect to be able to report topline preliminary data in the second half of 2022.

Joyson Karakunnel: For the cesarean syndrome cohort, enrollment is on track, and we will still expect to be able to report top-line preliminary data in the second half of 2020. For the Mycosis fungoides cohort, enrollment is on track, and we still expect to be able to report top-line preliminary data in the second half of 2020. Finally, we are advancing into peripheral T-cell lymphoma in monotherapy and combination trials in the relapse setting.

For the micro she's found greatest cohort enrollment is on track and we still expect to be able to report top line preliminary data in the second half of 2022.

Finally, we are advancing into peripheral T cell lymphoma in the monotherapy and combination trials in the relapsed setting.

Okay.

On slide nine I would like to update you on a listening tour.

Joyson Karakunnel: On slide nine, I would like to update you. I'm not a listener. To remind you, Monalizumab is an anti-NKG2A antibody that acts upon the checkpoint pathway to potentiate NK cell activation that we have licensed to AstraZeneca. There are currently two ongoing AstraZeneca-sponsored Phase 3 trials with no... One in combination with Cetuximab in head and neck cancer, and one in combination with anti-PD-L1, Dervalumab in lung cancer. On this slide, you can see an overview of the late stage development plan for Monalizumab in London.

To remind you modalism mab as an anti N K G to ache, which acts upon the checkpoint pathway to potentiate NK cell activation that we have licensed to astrazeneca throw oncologist.

There are currently two ongoing astrazeneca sponsored phase III trials with non Elizabeth.

One in combination with Cetuximab in head and neck cancer and one in combination with anti PD L. One to value map in lung cancer.

Yeah.

On this slide you can see an overview of the late stage development plan for modal is a map in lung cancer.

Joyson Karakunnel: As mentioned, based on the AstraZeneca-sponsored Phase 2 COVID-19 vaccine, Estes Zeneca Commenced Pacific 9, a Phase 3 trial evaluating the combination of either monolizumab or aliculumab plus dervalumab in the unrestricted Stage 3 Non-Fossil Lung Cancer Setting Who Have Not Progressed After Concurrent Chemoradiation. For the phase two As published recently in the Journal of Clinical Oncology by AstraZeneca, after a median follow-up of 11.5 months, the results of the interim analysis showed a hazard ratio of 0.42 for drivalumab plus 1-olizumab versus drivalumab-11.

As mentioned based on the Astrazeneca sponsored phase II coast data Astrazeneca commenced Pacific nine a phase III trial evaluating the combination of either mono is a mab or a liqueur mab cluster value map in the Unresectable stage III non small cell lung cancer setting we have not progressed after concurrent chemo radiation.

Joyson Karakunnel: The results also showed an increase in the primary endpoint of confirmed ORR for dervalumab plus monolizumab over dervalumab alone at 36% versus 18%, respectively. All those small numbers in a PFS Exploratory Subgroup Analysis. Monalizumab with Drovellumab demonstrated a trend favoring the combination in tumors with high HLA-E and NKG2A expression, supporting the mechanistic rationale for the combination.

Therapy.

For the Phase II study the three arms evaluated a combinations of their value add model isn't that.

And their value map, plus silicula map Astrazeneca <unk> 73.

As published recently in the journal of clinical oncology by Astrazeneca. After a median follow up was 11 five months. The results of the interim analysis showed a hazard ratio of 0.42.

Further value map Personalismo verses deer valley, you're not alone.

The results also showed an increase in the primary endpoint of confirmed or per door value may have personal isn't an overdue value mab alone at 36% versus 18% respectively.

Spectrum.

Although small numbers in our PFS exploratory subgroup analysis mono is a mab with their value map Germans traded a trend favoring the combination in tumors with high HLA E.

Hum and N K G to a expression and supporting the mechanistic rationale for the combination.

We're also pleased to see that Astrazeneca sponsored near coast data was presented at ACR annual meeting with initial signals that led to Astrazeneca decision to start the new Yorkers to study.

Joyson Karakunnel: We are also pleased to see that AstraZeneca-sponsored NeoCoast data was presented at the AACR annual meeting with initial signals that led to AstraZeneca's decision to start the NeoCoast 2.0. NeoCoast 2.0 is a Phase 2 study in Stages 2a to 3a non-small cell lung cancer that includes a treatment arm with monolizumab in combination with dervaluma On slide 10, moving to head and neck, here. We presented data from Cohort 3 of the Phase 2 trial at ESMO-IO in December of 2021 for the triplet of monolizumab plus dervalumab plus cetuximab in first-line. The data demonstrated anti-tumor activity in the first study to evaluate this chemo-free triplet combination. In the first line, recurrent or metastatic head and neck cancer.

<unk> two is a phase two study in stages two eight to three eight non small cell lung cancer that includes a treatment arm with modal isn't bad in combination with chemotherapy.

Chemotherapy.

On slide 10, moving to head and neck cancer.

We presented data from cohort three of the phase III trial.

As you know in December of 2021 for the triplet.

Plus trevally, Humira plus rituximab in personal lines, how does that cancer.

The data demonstrated antitumor activity in the first study to evaluate the chemo free triplet combination.

In the first line recurrent or metastatic head and neck cancer setting.

As a reminder, the standard of care is based on the keynote 48 trial. The approval is for Pembina, Litterbag mono therapy and C. P S greater than or equal to one and Pembroke plus chemo in all comers patients.

Joyson Karakunnel: As a reminder, the standard of care is based on the Keynote 48. The approval is for Pembrolizumab monotherapy and CPS greater than or equal to 1 and Pembrolizumab plus chemotherapy in all comorbid patients. We continue to collaborate with our partner AstraZeneca on potential next steps for this. The Phase III Interlinked One Trial of Monalizumab plus Cetuximab, and I appreciate it, is ongoing with the final date expected in 2021. We look to work further with our partners at AstraZeneca on this potential new treatment. On slide 11, I would like to highlight the progress of our assets targeting the adenosine pathway, which is increasingly recognized as critical in tumor immune suppression and two approaches we at Innate are taking.

We continue to collaborate with our partner Astrazeneca on potential next steps for this program.

The phase III Interlink, one trial of Modalism add plus Cetuximab and I appreciated it head and neck cancer is ongoing with final data expected in 2024.

We look to work further with our partners Astrazeneca on this potential new treatment.

On slide 11, I would like to highlight the progress of our assets targeting the adenosine pathway, which is increasingly recognized as critical in tumor immune suppression and two approaches we are.

Take care.

Our anti CD 39, I P 52, one in collaboration with Astrazeneca is concluded the phase one trial in solid tumors in combination with true value.

Joyson Karakunnel: Our anti-CD39 IPH5201, in collaboration with AstraZeneca, has concluded the Phase 1 trial in solid tumors in combination with Dervalium, and we expect data in 2020. In the meantime, we are in discussions with AstraZeneca about the next steps for this program. For our anti-CB73 antibody, IPH5301, an investigator-sponsored Phase 1 trial has started where the IST is exploring a differentiator approach combining our anti-CB73 antibody with trastuzumab in HER2-positive cancers. We look forward to further updates from this clinical program next year. I will now hand over to Yannis to cover our NCAT.

And we expect the data in 2023.

In the meantime, we are in discussions with Astrazeneca as the next steps for this program.

For N P. C. D 73, I P. H 53 O. One an investigator sponsored phase one trial has started.

S. T is explored exploring and differentiated approach combining our T. C. D 73 with Trastuzumab in her two positive cancers.

We look forward to further updates from this clinical program next year I will now hand over to Dennis to cover our <unk> platform.

Yeah.

Thank you enjoy said on slide 12, I wanted to highlight the latest date, Flamel, hopefully, Italy, Mickey that speak and because they don't gauge off platform, that's we called MK and.

Yannis Morel: Thank you, Joyceon. On slide 12, I wanted to highlight the latest updates from our proprietary multi-specific NKCEL Engager platform that we call NKET, Antibody-Based NKCEL Engager Therapeutics.

And get spending full antibody bathed and gets I don't get jumped off the peaks.

We are pleased to have prevented that well latest innovation major offence. If you can maybe go to <unk>.

Yannis Morel: We are pleased to have presented our latest innovation at major scientific and medical conferences, including the AACR annual meeting this year by our CSO, Professor Eric Villiers, as well as at ESMO and CITSI last year. NCAT is a versatile, fit-for-purpose technology made of various building blocks that is creating an entirely new class of tri- and tetra-specific engagers to induce synthetic immunity against cancer. The technology platform, which leverages our expertise in the anti-cell space, will be an engine for our pipeline, creating value via multiple drug candidates targeting multiple tumor targets.

Including a yeah, I mean, I need can be share I gotta walk yet, okay. So getting G as well at the ESMO and see that as Joe.

And get the versatile pizza boast technology made of values building blocks that you're creating an entirely new class of try and did hospitals come gauges to induce synthetic immunity against cancer.

Do you think how did your pet film, which is either a gene therapies in the empty space would be a big giant 12 hour pipeline Caging Mexico.

Yeah.

Debates about I've seen much batesville targets I.

Yannis Morel: Our excitement for this Ankit platform is based on the preclinical data that we have to date. First, the ANKET platform allows for optimal harnessing of the NK cell effector function due to the unique engagement of both NK cell activating receptors, NKP46, and CD16.

Our excitement for these and you've got for me both on because of the preclinical data that we have to date. So you don't get platform allows for optimal I'm, making a yankee fan effector function.

The unique engagement of both and gift card Activations I checked off and keep your 46 and <unk>.

Yannis Morel: Second, this preclinical efficacy can be further increased by the addition of an interleukin 2 variant that targets the IL-2 receptor beta-gamma complex, which is expressed on NK cells, inducing their proliferation within the tumor microenvironment. Overall, this platform demonstrates better preclinical anti-tumor efficacy than we have seen in tumor models with clinically-approved benchmarked antibodies. Our most advanced NCAT program is a CD123-targeted trispecific molecule, IPH6101, also called SAR443579, that we have generated in collaboration with Sanofi. It is now fully licensed to them and currently in a Phase 1 trial. The Second Enquete Program in its collaboration with Sanofi, IPH 64, is also in development.

So do you feel like you Nicole if he gets he can be felt that increase by the addition of the mentally came to valeant, which targets. The IL two I said they'll be stuck in a complex, which takes place on NK cells induced kingdom proliferation within the tumor microenvironment.

Overall pet film demonstrate debate topics Nikola antitumor efficacy.

And then we have seen in Q mom or dad with.

Kidney care, we can you could you benchmark the antibodies.

Oh, well, most advanced and get pulled on either T. Do you want to target high speed should keep them already accumulate idea chip do you want to walk or so called soft 44, 70, 579 that we have generated in collaboration with Sanofi.

It is now fully licensed to them enjoying being paid for Empire.

They said well not get pulled off of these collaboration with Sanofi I guess 64 also continues in development.

Mondher Mahjoubi: Our most recent generation of tetraspecific NCATs is also progressing toward IND-enabling studies, with the first IND filing expected in 2023 for IPF65. Now, I will turn to Mondher for a summary of the upcoming catalyst. Thank you, Yannis. Please move to slide 13.

The most recent generation of hospitality and get you those coupons I seem to all be I am getting at being studied we just felt I N E filing expected in 2023, well I guess you could decide now I will turn to basketball, it's familiar of the upcoming even get that.

Yeah.

Thank you Yun.

Please move to slide 13.

Yeah.

Is it going to we are working diligently to execute our cost all of them.

Mondher Mahjoubi: As you can see, we are working diligently to execute a course for all our participants and believe that we are all in the foundation to drive near and long-term value. Looking at our clinical program, we expect to achieve a number of milestones over the next two years. First, as you've heard from Joyson, the Phase 2 Telemac Trial for Lekwudanab continues to progress. We continue to expect to report preliminary data from the potentially pivotal cohort in cesarean syndrome as well as data in microcystic fungal disease in the second half of the year. In addition, we are moving our pancreatic T-cell lymphoma program into the clinic, with initial data expected next week. Communism Up, the next trial is on the way.

I believe that we are laying the foundation to drive long term value.

Looking at our clinical program, we expect to achieve a number of minor phone over the next year.

So as you've heard from Jason the phase III clinical trial for liquids continues to hold up well.

Continue to expect to report preliminary data from the potentially pivotal.

The cohort.

Elsewhere in the fleet.

Yeah, Michael you just won't go to the second half of each year.

In addition, we are moving our T cell lymphoma program into the clinic with initial data expected mixture.

I'm wondering if you might be having to try and even the way.

And finally, we continue to I think you had been in pathway.

Mondher Mahjoubi: And finally, we continue to advance the Adenzin pathway in the clinic, where we look forward to data and next steps from the anti-TB39 in 2021. In parallel, we continue to develop our MCAT technology platform, and we are very encouraged by the presented results from our next generation and get them engaged. We believe that this represents a natural evolution of our platform. Data presented at conferences last year.

Well, we look forward to data and mixed at Columbia in fact, even $50 million in 2020.

And finally, we continue to develop our anchor technology popcorn.

We're very encouraged by the preclinical zones from all of our next generation. It gets an engagement. We believe that this will present the natural evolution of our platform beta presently got comfortable we loved it.

We are really excited to see the mood tried to basically can't get into the clinic with penalty and for updates on our proprietary I guess, what I would point to.

Mondher Mahjoubi: We are really excited to see the new trispecific anchors in the clinic with NLP and for updates on our proprietary anchors for our 20th anniversary. Thank you.

Let's move to <unk>.

Slide 14.

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As you can tell we continue our exciting journey ought to make we look to build our business to paid value for patients and stakeholders.

Mondher Mahjoubi: As you can see, we look to build our business to create value for patients and stakeholders. And, in summary, we have positioned Innate for the future with our strategy and made meaningful progress throughout. 2021 across all three public payloads. We have carefully managed our resources so we can continue to invest and progress in our pipeline. And I'm very pleased that you will continue to have a very strong cash position through 2024, with 131.7 million as of March 31, 2022.

And then somebody we have position, we make for the future with our coffee tea and made meaningful progress.

I think you're going to run across all three public table.

Have to carefully manage our all store. So we can continue to invest in all in public in our pipeline and then very pleasing. If you continue to have a very strong cash position through 2024.

$151 7 million.

March 31st 2022 in addition.

Mondher Mahjoubi: In addition, we have the $15 million payment received from AstraZeneca we announced two weeks ago. We also want to allow opportunities for investors to buy the stock while trying to safeguard our existing stakeholders' interests. As such, we opened an at-the-market program last week on the NASDAQ. The ATM allows us to accept requests for purchase depending on market dynamics.

We had the 50 million payment received from alcohol didn't go we announced two weeks ago.

We also want to no opportunity for investors to buy the stock.

Trying to safeguard our existing stakeholders interest, except we opened an at the market Qualcomm last week on the NASDAQ The a T M.

To access the request for approaches depending on market dynamics.

Productivity, we are driving value across our business and ultimately advancing our goal to deliver innovative medicines to patients.

Henry Wheeler: Collectively, we are driving value across our business and ultimately advancing our goal to deliver innovative medicines to patients. We look forward to keeping you updated on our progress throughout the year. We conclude our prepared remarks, and we now open the call to questions. Thank you. At this time, I would like to remind everyone, in order to ask a question, please press the star followed by number one on your telephone keypad. If you would like to withdraw your question, please press the star followed by number two.

We look forward to keeping you updated on all Colgate So all of the year.

To conclude our prepared remarks can you now open the call to questions.

Thank you at this time I would like to remind everyone in order to ask a question. Please press the star followed by number one on your telephone keypad.

If you would like to withdraw your question. Please press the star followed by number two well.

Henry Wheeler: We will pause for just a moment to compile the Q&A roster, and our first question comes from the line of Yigal Nochomovitz from Citi. Please, Yigal, your line is now open. Hi team, this is Ashiq Mubarack on Freegal.

But for just a moment to compile the Q&A row style.

I know what Paas question come from the line of <expletive> I know what chips from Citi. Please do you got your line is now open.

Hi, Jim This is the author of bark Andre Bill. Thanks for taking my questions for the Phase III Interlink, one trial Astrazeneca is running in head and neck cancer. My understanding is that there'll be an interim analysis prior to the full data in 2024. So I'm just curious if that's still on track and if you can share any color on when that might.

Ashiq Mubarack: Thanks for taking my questions. For the Phase 3 Interlink-1 trial AstraZeneca is running in head and neck cancer, my understanding is that there will be an interim analysis prior to the full data in 2024. So I'm just curious if that's still on track and if you can share any color on when that might happen and what, if anything, you might share from that interim analysis.

Happened and what if anything you might share from that interim analysis.

Oh absolutely.

So the as I said this is the a D. A sponsored trials that could be initiated.

That was initiated back in 'twenty centered deforestation.

In November 2020, and at that time, we announced that there is an interim analysis that you're planning to appeal.

18 to 24 months after the first patient dose, which means that these interim analysis.

Procured in the second half of 2022.

Okay fine.

Unexpected in 'twenty principle.

I hope it's clear.

Okay will you share any details from that analysis and.

Ashiq Mubarack: Okay, um, will you share any details from the analysis and, Okay, my second question is that I understand that there's a $50 million milestone payment associated with hitting some kind of threshold from that interim analysis. Is there any color you can share on what that threshold is? Is it a response or survival-based threshold? Any color would be great.

Okay and then my second question is that I understand that Theres, a 50 million dollar milestone payment associated with hitting some kind of threshold from that interim analysis is there any color you can share on what that threshold is.

Is it a response or survival based threshold any color would be great.

Yeah.

I thought I was I think I did not disclose.

Mondher Mahjoubi: I think I did not disclose or communicate any details about the threshold or the statistical path for this interim analysis. We know that there is an interim analysis to decide whether to pursue or to stop. And this will, as I said, occur in the second half of this year, and, of course, we will be informed by AstraZeneca once this analysis is complete, and we'll share the outcome. Okay, great.

These clothes, though no communicate any details about the Oh no. The statistical plan calls for the Amendment no.

There is a an.

An interim analysis to decide whether to pursue ultra stuff.

And these will as I said, a cure in the second half of the care and the costs are we will be installing basketball as I think I won't speak for them.

So for them.

And we showed them okay great.

Thanks for taking my questions.

Thank you. Our next question comes from the line of Diana Gray Bush from SVP Leerink. Please stay on the line is now open.

unknown: Thanks for taking my question. Thank you. Our next question comes from the line of Daina Graybosch from SV Billing Ring.

Daina Graybosch: Please, Daina, your line is now open. Thank you. Thank you guys for the questions. Two for me.

Thank you. Thank you guys for the questions two for me the first.

Daina Graybosch: The first question is on COAST. There was a recent full publication of COAST, and it had some additional biomarker cuts. And I wonder whether you guys could discuss those cuts, especially any that you thought were relevant for monolizumab and any new interpretations you took from that. Thank you, Daina. I'll take your second question, and then I'll dispatch.

There was a recent publication of Coke and it had some additional biomarker pets and I wonder whether you guys could discuss cause clots, especially any of that you'd thought oh relevant for them on the lives of Mod on any new interpretations you took from that.

Thank you Dana.

I think your second question and then I'll just touch.

Oh. So the second question is on at Cat I Wonder if again, if you could discuss any additional optimization.

Joyson Karakunnel: Oh, so the second question is on AntKet. I wonder if Yannis could discuss any additional optimization of IPH65 that you are doing or planning as you go into IND studies. Thank you very much, Daina. I'm going to hand over to Joyce, and as you heard in his remark, Joyce referred to the biomarker analysis and probably is the right person to address your first question about what we can take away from this data, and then, of course, Yannis will address the question about data 65 for which we did not disclose the target. Joyson, would you stop, please?

I P H 65.

That you are doing your planning as you go into IMD study.

Yeah.

Absolutely. Thank you very much Dana I'm going to hand over to our duration as you probably didn't hear remarks, itraxx interests or deferred to be biomarker analysis, and probably is the right person to.

The address your first question about what does it take away from from this Oh. These data and then the question is who will address the question about 65.

We did not disclose the target here.

Oh, George that we just talked with.

Sure. So I think your the in reference to the gesture article that was published by Astrazeneca on the coast study and there were a P O plus exploratory subgroup analyses that were done.

Joyson Karakunnel: Sure. So I think in reference to the JCO article that was published by AstraZeneca on the COAST study, there were PFS exploratory subgroup analyses that were done, or at least this should be taken with caution. Considering the small numbers that were used in the subgroup analysis, we found that the combination of monolizumab and durvalumab in tumors that expressed high HLA-E and NKG2 expression appeared to favor this combination in this PFS subgroup.

That at least.

This should be taken with caution.

Considering the small numbers that were used in the subgroup analysis.

We've found that.

The combination of Modalism happened or value Mad.

And tumors that expressed high HLA and N K G. Two expression appeared to favor. This combination in this PFS subgroup.

Subgroup analysis.

Joyson Karakunnel: So for us, that helped to support the synergistic as well as mechanistic rationale that we initially had developed for the combination when it was first put in. I'll kind of hand it over to you here, Yannis.

For us that helped to support the synergistic as well as a mechanistic rationale that we initially had developed for the combination when it was first put into the clinic.

Yeah.

It's kind of hand it over thanks here Oh go ahead.

Okay.

Yeah.

Yannis Morel: Yeah. Hi Daina. On IPH 65, like Mondher said, we did not disclose the identity of the target, but what we can say is that we have selected a validated tumor target to which we are applying our ANCAT technology, which is a tetraspecific format incorporating an IL-2 variant. Then we perform, I would say, a very classical lead optimization work in order to select the best candidate. And we are underway in IND and ending the study with the target to find an IND in 2023. Thank you. Maybe I will do one follow-up for Joyson.

Hi, Dana.

On the I guess 65, so like I said, we did not disclose the identity of the target, but what we can see that we have collected a validated target.

Target.

The two week 12, plugging along and get technology.

<unk>, which is what they call specific format are incorporating a and now you have to valeant.

And then with that phone and I would say a very catchy call neither musician work.

I think the best candidate and we all know weight.

In a I N E N N B study, we'd be the targets to go find that I envy in 'twenty two 'twenty three.

Thank you and maybe just one follow up for Jason do you think that there's any potential to use either HLA E or NK G to a in the future as a diagnostic to enrich patients for the combination of one of them is the man.

Joyson Karakunnel: Do you think that there's any potential to use either HLA-E or MKG2A in the future as a diagnostic to enrich patients for the combination of monolizumab in any setting? I think with the small numbers, at least in the COASST trial, it helps to, it will help to supplement the data that we see, at least from the NEOCOASST study. I think right now, with the small numbers and exploratory nature of the analysis, it's definitely a hint that it's possible, but I think that this will need to be supported with the NEOCOASST data that we get before kind of moving into it. Very helpful. Thank you. Thank you. Our next question comes from the line of Olga Smoltes-Behr from Brian Garnier.

Any of the flooding.

I think with the small numbers at least in the coast trial it helps too.

It will help to supplement the data that we see at least from the New Yorkers study I think right now with the small numbers and exploratory nature of the analysis, it's definitely a hint that it's possible, but I think that this will need to be supported with the New York State.

We get a bit more kind of moving into a biomarker driven approach.

Very helpful. Thank you.

Yeah.

Thank you. Our next question from the line of all that small tests now from Bryan Garnier. Please all got into your line is now open.

Olga Smoltes-Behr: Please, Olga, your line is now open. Good afternoon, everyone, and thank you for taking my question. The first one would be, could you maybe discuss a bit how you see the positioning of the Kutumap? The Evolving Landscape of PTCLT.

Good afternoon, everyone and thank you for taking my questions.

The first one would be could you maybe discuss the beach Ah hi, she positioning if I put them up in evolving landscape of pizza sales treatments and maybe do you see do you have a data on overlap between expression of programs from Citi Sochi, and Q3 deal team.

Yeah.

Thank you Oh gosh when come back so.

Mondher Mahjoubi: And maybe, do you have data on the overlap between the expression of, for instance, CT30 and Q3DL? Thank you, Olga. Welcome back. First of all, you know that the pericardial T-cell lymphoma program just started, so as of today, we don't have data, and of course, any position should be and must be data-driven, so I won't speculate, but if we assume that we have a level of activity that justifies further development of a liquid amine pericardial T-cell lymphoma, it's definitely what we could

First of all you know that the Huntington Paul T cell lymphoma program just stop it so.

As of today, we don't have data and of course at any position and it should be and must be data driven so I I want to stick with it but if we assume that we have 11 effective either justify further developmental for electrical maybe backlog who came in from a different lens.

What we could call it a game changer and they develop all these program because it's so far it has been limited to a very formal.

Mondher Mahjoubi: It's a game-changer in the development of this program because, so far, it has been limited to a rare form of T-cell lymphoma, so we look forward, really, to generating data, and as you know, we have two approaches. One is a single-agent monotherapy in the relapsed refractory setting, trying to detect single-agent activity in a difficult-to-treat patient population, for which, of course, it is important to make sure that we have enough data, and provide alternative therapeutic approaches given the persistent and medical need there.

Pwc can inform us of when you look forward, we need to generate the data and as you know we have a two approaches one is a single agent monotherapy in the relapsed refractory setting trying to they take a single agent activity in a difficult to treat patient population.

For which of course it is a it is a.

Important to them.

I kind of do a Catholic approach given the persistent unmet medical need there and there is a second approach we are.

Mondher Mahjoubi: And there is a second approach we are pursuing in collaboration with the Liisa Group, which is a non-Hodgkin lymphoma cooperative group here in France and in some European countries, where we are testing the combination of leucotonab with chemotherapy. And as you know, the combination of GMOX and oxalate-packing is one of the approaches currently used.

We've seen in collaboration with the neither of which is the and.

And then once you get a lymphoma cooperative group in Charleston in some European countries, where we are testing the combination of a chemotherapy and as you know are a combination of Dreamworks and looks at it back in is one of the between brackets of cobalt kind of the skus and get their own by my complete.

Yannis Morel: And it's a randomized comparative study, so it will also provide clues to the contribution of components of leucotonab in this setting. This data, of course, which we expect to start sharing and presenting next year, will definitely drive the positioning of the drug in this setting. And definitely, this will be biomarker-driven. As you know, both in The Single-Arm Trial as well as in the Combination Trial, we are targeting K3-DL2 positive pericardial tissue and lymphoma. Now to your second question about the overlap in expression, I'm going to ask Yannis to provide more color on this. Yannis, please.

These studies, which will also provide them into the contribution of components.

They couldn't probably.

News based of course, which we expect to start sharing and presenting next year wouldn't differently to drive the positioning of the drug can be flipping them differently.

This will be a biomarker driven as you know.

And.

The single arm trial as well as in the combination trial, we are targeting <unk> positive T cell lymphoma now to your second question about the overall up and especially I'm going to ask you I need to provide more color on a guinea pig.

Yeah, sorry, yeah in in PTC and there is no correlation I know they're carefully placed question what is the city itself.

Yannis Morel: Yeah, sorry. Yeah, in PTCL, there is no correlation between the tier 3D expression of CD30 and CD30. For example, you find expression across all different subtypes of PTCL with some variation depending on the subtype.

You'll find a expression across all different subtypes of <unk>.

D C and with some variation depending on just sit tight and there is no I would say that.

Yannis Morel: And there is no, I would say that there is a... Care Positive, PTCL patient, both in the CD30 positive as well as in the CD30 negative. That's clear. Thank you. And maybe, If I may, maybe a few words on the companion diagnostic. Yeah, sorry. I was wondering if you could share some companion diagnostics for QTD.

There is a.

But it's either a P. T addition, Balkan do so she felt pretty cheap as well I think the city yourself you may get to you.

That's clear thank you.

Maybe.

You have made maybe a few words, oh, you're a comparator that companion diagnostic yeah sorry.

I just I was wondering if you kind of changed the Hudson a companion diagnostics.

For Q T D a I can't see.

unknown: Daniel Contreras-Whyte, Attendant General Secretary for the Democracy and Friendship of the U.S. Absolutely, and as you've heard in Joyson's remark, we are working on further solidifying the package for this purpose. So I'm going to let Joyson answer the question, knowing that we are still at the early phase of the development, and that cesarean syndrome per se is not probably the best target indication for this since more than 90% of the patients expressed the target, but for microcystic fungal disease, definitely, Joyson believes that QCC will be required there.

Would you be able to express their fan maybe how aligned it is we this time darts diagnostic cut back it took a doctor says basically would it be easy to kind of just added to their current them attack them for cause C. L and maybe what additional steps if any are required to get.

Each approach.

Okay.

Absolutely Ben.

Is it hard and Georgetown's remark, we are walking on the somebody's deploying the the package for the stuff so I'm going to let Jason.

So the question knowing that we are.

The only.

Things have developed.

It's been doing per se, but COVID-19.

Really the best topic of indication if all these things are more than 90% of the patients except the saga that format because it's longer.

It's different because he believes that he will be part of it. So it doesn't can you give more color on that what it takes.

unknown: So Joyson, can you give more color on our colleagues' plans for lacritin upgrade? Sure, so as we had mentioned, the initial results that we're seeing with CTCL were based on a frozen assay. We are now using the Allcomers cohort, looking at an FFPE assay. We are in discussions with regulatory agencies, and we're also looking at developing it, not only in-house but also with a third-party companion diagnostic company. So we are going through the necessary steps to ensure that not only for CTCL but also for PTCL the acetate can be used in our later phases.

Our plan for that could come up with.

Sure so.

So.

We had mentioned the initial results that we're seeing with Tcl was based on a a frozen.

Frozen assay, we are now.

Using the all comers cohort looking at an F. O P E. I say, where we are in discussions with regulatory agencies and we're also looking at developing it not only in house, but also with a third party a companion diagnostic company. So we.

We are.

Going through the <unk>.

So Terry steps to ensure that not only for C. T C. L. But also P. T C. L. The assay can be used in our later stage trucks.

Yeah.

That's very helpful. Thank you.

Thanks, Kim I will hand over back to Henry we live in now for any questions.

Joyson Karakunnel: That's very helpful, thank you. Thank you. I will hand over back to Henry Wheeler now for any chat questions. Hi, thank you. We have one question on the line. Eric Leverigol, Ashiq Swayampakula Ramakanth, Arvind, The question is: more and more biotech companies are re-evaluating their strategies as to whether to go into marketing, which is costly, burdensome, and uncertain considering size and inexperience. You have had a negative experience with Lomoxy, but you are holding all rights to LacutaMap, and if everything Regulator activities will start earlier as well as in pre-market.

Hi, Thank you we have one question on the line, Eric and I bet. He go at Stifel. So the question goes more and more biotech companies are reevaluating strategy as to whether it's marketing, which is costly burdensome and uncertain considering size under an experience.

Do you think if it's a experienced amongst you still you are holding all right still keeps him up and if everything goes well you might be right to market in the U S and 18 months from now regulator activities will start earlier as well as pre marketing and market access. So what avenues are you considering when you say you have cash into 2024, what does that mean for the future marketing wise.

Eric Leverigol: So what avenues are you considering when you say you have cash into 2024? Does that mean for the Kootenai map... Thank you, Eric. A very, very important question. And I would like to start maybe by reminding you of what I said in my intro when I described our strategy with, you know, the three pillars. And the pillar is about building a really strong and sustainable foundation for our business, leveraging diverse partnerships across both industry and academia.

Thank you Oh, great. They are an important question and I would like to stop maybe Oh sorry.

And what they said in my intro whenever you described because it's hard to do with you know the three pillars and remember this is about building a really its just hunker and sustainable foundation for our business leveraging the various partnership across both industry and academia and.

We are as you know a company with a good track record of collaboration over the years Uh Huh.

Eric Leverigol: We are, as you know, a company with a good track record of collaboration over the years that has been instrumental, actually, in just the growth and development of our company. And clearly, we want to ensure that there is no restriction to that. In other words, if we can gain valuable competencies via a partnership, even for L'Equitable, we will consider that in our development plan.

And could actually in just the growth in the development of all company and clearly we want to ensure that Oh, there's no restriction today in other words, if we can gain valuable competencies to be a partner she even probably because I'm not real coffee there that's another development that.

I think what is really important is to ensure we have the magazine.

Mondher Mahjoubi: I think what is really important is to ensure we have, Medical Group, Dr. Arvind Sood, Yigal Nochomovitz, Daina Graybosch, Yigal Nochomovitz, Dr. Arvind Izhari Ter Controller, Sufat Kadhirogu, Andras Kamarylian, Yassine Mahmoud, Matthieu Ge confession, Victor Parus, Richard Klatski, Anayaan Samae, Recorded in Cairo All, Dr. Arvind Swayampakula Ramakanth, Ashiq Mubarack, Arvind Sood, Yigal Nochomovitz, Daina Graybosch, Yannis Morel, Jingming Chen, Unknown Attendee, Joyson Karakunnel, Pierluigi Porcu, Sonia Quaratino, Henry Wheeler, Frederic Lombard, Yannis Morel, Jingming Chen, Unknown Attendee, Joyson Karamakula Ramakanth, Ashiq Mubarak, Yannis Morel, Jingming Chen, Unknown Attendee, COVID-19 Response, Yannis Morel, Jingming Chen, Yannis Morel, Jingming Chen, Unknown, And thank you for your questions. Thank you. We continue with the questions on the phone lines. The next question comes from the line of Liisa Bayko from Evercore.

Get them to patients as quickly as possible and if there is an opportunity to do it in partnership with another company would want to do that then you would evaluate the benefits of.

Today, we are.

And the phase two stage journey to date of course, we are.

Syndrome, a cohort that has the potential to be the.

People don't David on the.

The pre defined living up activity that you discuss it with you.

But overall, we are generating data to guide and inform the phase in.

Well, Paul we had a problem preparing.

While the launch into the market because you you know how.

How long it takes to that.

Deliver phase three in this setting so we are not there yet we are just focusing on executing on the trial, making sure we Oh culture.

Built on the fast track designation for the drug in a pool we.

And she's added syndrome and at the same time closer hopefully, they're all the options, including the partnership with <unk>.

But even more.

Probably to create and in Portland, and last but not least I think would be the most of the experience was it or did you say to a tough one we launched the drug in the last moment possible with the Covid, but nevertheless, you close an extremely.

Useful and as it is.

You know we know in the multiple more failures than I think it was extremely important to setting the development the whole company.

<unk> gave us the opportunity to refocus our energy and our whole sources on the R&D to continue to shadow pipeline to generate innovative medicine.

It can contribute to.

Sure, Okay, that's our ambition and our mission.

We didn't do it.

And thank you for your question.

Okay.

Thank you we'll continue with the questions on the phone lines. The next question comes from the line of Lisa Bake off from Evercore. Please Lisa Your line is now open.

Liisa Bayko: Please, Liisa, your line is now open. Hi, thank you for taking our question. This is Jingming for Liisa.

Hi, Thank you for taking our question. This is Jamie on for Lisa. My first question is what should we expect at the telematics data readout second half Yeah and my second question as can you talk a little bit about what is our plan for liquid a map and so very syndrome and mycosis funk latest do you plan to file.

Jingming Chen: My first question is, what should we expect at the TLMAC data readout in the second half of this year? And my second question is, can you talk a little bit about what your plan is for LecudaMap and Caesarean Syndrome and Mycosis Fungoides? Do you plan to file, go ahead and file Caesarean Syndrome alone, or will you wait for the Mycosis Fungoides data to file together?

I'll go ahead and file so sorry syndrome alone or will you wait for that and I call. It. The first one gladius stayed out to final pick out there. Thank you.

Yeah.

Oh, thank you.

Mondher Mahjoubi: Thank you. Thank you, Jeanette, for the question. So two questions have come up, and I think Joyce is the right person to update you on the readout, even though we have a slide. And in describing this, he'll also provide more color about our registration strategy and regulatory approach. Thank you. So, thank you, Mondher.

Question two question on that keep them up and you think.

And he's the right person to a big draw on the readout was even though.

We had we had a slide describing these computers and provide their own tools for more color a bulk of patients.

I'll approach.

Uh huh.

Yeah. So thank everyone. There so I don't think so.

Joyson Karakunnel: So, thanks for the question. So, when we look at the data, for your first question about the data readouts in the second half of 2022, Cesarean Syndrome would be the first time that we're presenting that data. So, that would be preliminary data on the Cesarean Syndrome tibetal cohort.

<unk> for the question. So when we look at the data for your first question about the data Readouts in.

Second half of 2022.

The sensory syndrome would be the first time that we're presenting that data so that would be preliminary data on the surgery syndrome pivotal cohort.

Joyson Karakunnel: Regarding Mycosis Funguitis, which is the second data readout we would have in 2022, we're anticipating updating some of the data that we saw at Lugano in 2021, with longer follow-up on those patients as well as additional patients that will have. So those would be the two data readouts for the second half of 2022. I think in regards to the second question around whether we would file a cesarean syndrome or mycosis fungoides. I think a lot of this will depend upon the data itself.

In regards to the mycosis on grade, which is the second data read out we would have in 2022.

We're anticipating updating some of the the data that we that was seen at Lugano in 2020, one with longer follow up on those patients as well as additional patients that would happen.

That would be the two data readouts for the second half of 2022.

Yeah.

I think in regards to the second question around whether we would.

While our surgery syndrome or may cause he's from <unk>.

I think a lot of this will depend upon the data itself.

Joyson Karakunnel: When we look at both of these cohorts, you know, there is definitely the potential to file both of them together. And also, in addition, we also have the ability to file the SESRI syndrome as a pivotal cohort. And we are already going in with the approach that in mycosis fungitis, we would have to do phase two. So we're kind of looking at the entire package that we're able to get for both Feser's syndrome and mycosis fungoides and then making a data-driven decision.

When we look at both of these cohorts.

You know there is definitely the potential to file both of them together.

And also in addition, we also have the ability to file the sensory syndrome.

A pivotal cohort.

And we were already going in with the approach that when my cursory sung <unk>, we would have to do a phase III.

We're kind of looking at the entire package that we're able to get for both sensory syndrome and mycosis <unk>.

And then making a a data driven driven decision from there.

I see thank you if I may excuse me one more question. So in terms of timing for the past I think 90. It out is that fair to assume that will be similar to <unk>.

unknown: AC, thank you. If I may, it's pleasure to ask one more question. So in terms of timing for the Pacific 9 readout, is it fair to assume it will be similar to interlink one, which would be like an interim readout 18 to 12 months from, you know, those in the first patient? And should we also expect a 50 million milestone from that potential readout? So, sorry to disappoint you, but this is really an African-American...

And sort of like one which would be like an intervention.

18 to 12 months from now.

Dosing the first patient and how shall we also expect that their meli and milestones on that Oh gosh all laid out.

Yeah.

So.

Sorry to disappoint you Covid.

It really doesn't make a toilet.

Mondher Mahjoubi: I'm a bit of a troll and I won't speculate on any timing, they didn't provide any specific dates about whether there is an interim analysis or even for the final analysis. This is lung cancer. Okay. I know you are familiar with lung cancer development and the timeline and how long it takes to accrue patients. Swayampakula Ramakanth, Ashiq Mubarak, Arvind Sood, Yigal Nochomovitz, Daina Graybosch, Yannis Morel, Jingming Chen, Unknown Attendee, Joyson Karakunnel, Henry Wheeler, Frederic Lombard, Yannis Morel, Jingming Chen, Unknown Attendee, Joyson Karakunnel, Yannis Morel, Yannis Morel, Yannis Morel, Jingming Chen, Unknown Attendee, Yannis Morel, Yannis Morel, Unknown Attendee, Majjana Jogeli, Tinukati Akhund, Arundhati Yadav, Sandesh Sathya, Arun Sharma, Arvind Sood, Okay, thank you.

Thailand, I won't speculate on any timing maybe you can provide in any specific dates about whether.

I believe you fall even for the final.

But this is lung cancer okay.

I know, you're all familiar with the Franklin development timeline on how long it takes to.

I personally would be helpful.

Okay.

Okay. Thank you.

Thank you I'll hand, it back to Henry now forward the questions on the tap.

Henry Wheeler: Thank you. I hand over to Henry now for the questions from the chat. So yeah, we had another question from Liisa Bayko at Avalon. Do you see read-through from activity in the Phase 2 head and neck? Swayampakula Ramakanth, Joyson, this is for you.

So yeah, we had another question.

From from Elisa Baker unethical.

Do you see read through from activity in the phase two head and neck to phase three in lung cancer.

Yeah.

Jason This is for you or do you prefer.

Joyson Karakunnel: It's your preferred question, I know, so I'll let you address it. Yes, so thank you for the question, Liisa. So I think when we look at both of these trials, there are two main components. Number one is that they're vastly different disorders. So lung cancer versus head and neck cancer. And so because of that, I think what you would see in head and neck cancer would probably not translate over to lung cancer. I think that's the main takeaway, I mean, the answer to that question is, I don't, based on the oncologic indications, you would not expect to read through at least between head and neck and lung cancer, but that's also not saying about head and neck.

The question right now so I'll, let you.

[laughter].

Yeah.

Yeah. So thank you for the question Lisa So I think when we look at.

Both of these trials. There's two main components number one is is there are vastly different disease.

Hum disorders, So Oh you.

You know lung cancer versus head and neck, and so because of that I think what you would see in head and neck.

Probably not translate over into lung cancer I think that's that's the main takeaway I mean, the answer to that question is I don't I.

Based on the Oncologic indications you would not expect to read through at least between head and neck and lung cancer, but that's also not saying in the head and neck as.

Joyson Karakunnel: As well as in lung cancer, we are seeing exploratory evidence that there is synergistic potential between monolizumab and dervalumab, as we've seen that with monolizumab and catecholamide. So I think when you look at it from two different angles, mechanistically, there could be a mechanistic rationale that applies to both indications. But clinically, these two indications are vastly different mechanistically.

As well as in lung cancer, we are seeing exploratory evidence that there is a synergistic potential between the lives of map and devalue map as well as we've seen that with someone who has a map and cetuximab. So I think when you look at it in two different points Mechanistically there there.

Could be a mechanistic rationale that applies to both indications, but clinically. These two indications are vastly different.

Tumor types.

Thank you Jason I think.

What we're counting on the line.

unknown: Thank you, Jason. Do you have more questions on the line? Yes, thank you. We'll continue with the questions on the phone lines. And the next question comes from the line of Arthur He from HC Wainwright. Please, Arthur, your line is now open. Hey, everyone. Thanks for taking my question. This is Arthur in 4RK.

Yeah. Thank Gil will continue with the questions on the phone lines and then next question comes from the line of Arthur <unk> from H C. Wainwright. Please I thought your line is now open.

Hi, everyone.

Arthur He: I just wondered, could you guys remind us the milestone payment is going to potentially be related to the IPH-64 with the San Jose collaboration? Neoshoa La, Arvind Mogochi, Al-Qaeda, And the end for the... Financial Terms of the Deal with China. Hi, we did not disclose the breakdown of the milestones that we have with Sanofi, but we disclosed that for both programs, IPH 61 and IPH 64, we have in total up to 400 million in milestones, as well as high single-digit royalties.

Thanks for taking my question are these all three equal Archie.

I just wonder could you guys remind us of.

The milestone payment and could it potentially related to the I P. H 64, with Oh, Gee I don't see collaboration.

Yeah sure I'll handle that.

The answer on the.

How much in terms of dealing.

Okay.

Hi, we did not disclose your Mcdonald's the nice dorm bed that we have with final fee. What we disclosed that's all both program I guess you did you Wanna Nike default wagging total of up to 400 million in milestones as well I I think or did you acquire.

Okay. Thank you for that.

Arthur He: Okay, thank you for that. Thank you, Yannis. Thank you. We currently have no further questions on the phone line, so I hand over to the management team for any final remarks. Thank you very much. So, again, thanks everyone for joining this call. I know it's a busy time of year, so many of you are, let's say, busy with the various Q1 results. I want to just, in conclusion, to say that, as you can see, we are conscious that we continue to execute against our strategic priorities.

Thank you Denise.

Yeah.

Yeah.

Thank you. We currently have no further questions on the phone line, so I hand over back to the management team for any final remarks.

Thank you very much so again.

Again, thanks to all for joining this call I know, it's a busy time of year. So many of you are let's say busy with the venue so.

Two on the retail.

I want to jump to any conclusion to say that.

You can see yeah culture simply continuing to execute against for political priorities are and looking ahead. We will continue to I think I would I could point out.

Arthur He: And looking ahead, we will continue to advance our LecuteNab program, move our early R&D activities toward the clinic, and, as you heard from Yannis, we are actively preparing the R&D package for APH 65, as well as, of course, collaboration and partnership around this platform. And finally, for Mondher, we are pleased with the development of early-length cancer, but also the head and neck cancer underway, and the entry and analysis planned for the second half of the year are important milestones. And, of course, it reinforces our strategy of building a sustainable business with a robust R&D engine.

On the program.

<unk> move all early R&D activities towards the clinic and as you've heard from Janney we have activity.

Activity prepare the R&D package 40 P M 65, as well as a culture.

Collaborations and partnerships around these platform and find any formularies.

Oh yeah.

We are developing on the lung cancer, but also they had to make and found a way and the entry of the Navy's plans and second Oh, Yeah are important might've thought here and of course, he came close to our public opinion sustainable business with robust R&D engine, but that's I think very much and I wish it was under control.

Mondher Mahjoubi: With that, I thank you very much, and I wish you a wonderful day. This concludes today's call. Thank you so much for joining us. You may now disconnect your lines. A Day in the Life offormed by Allied Technologies, Copyright 2020, New Thinking Allowed Foundation

This concludes today's call. Thank you so much for joining you may now disconnect your lines.

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