Q1 2022 Cellectis SA Earnings Call
Greetings and welcome to the select US first quarter 2022, corporate update and earnings call. At this time all participants are in a listen only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance. During the conference. Please press star zero on your telephone keypad.
As a reminder, this conference is being recorded.
I'd now like to turn the conference over to your host Mr. Arthur Strohm Chief Business Officer first elected. Please go ahead Sir.
Good morning, and welcome everyone to selected first quarter 2022, corporate update and financial results Conference call.
Joining me on the call today with prepared remarks are Doctor, who actually got our Chief Executive Officer, Dr. Carrie Brownstein, our Chief Medical Officer and.
And Doctor being Wang our Chief Financial Officer.
Yesterday evening electric filed its censoring reports and issued a press release reporting its financial results for the first quarter and three months period ended March 31st 2022.
The report and press release are available on our website at selected Dot com.
As a reminder, we will make statements regarding selected financial outlook. In addition to its manufacturing regulatory and product development plan.
These forward statements, which are based on management's current expectations and assumptions and on information currently available to management, including information provided or otherwise publicly reported by our license partners.
Subject to risks and uncertainties that may cause actual results to differ from those forecasted.
A description of these risks can be found in our most recent form 20-F filed with the SEC and our financial reports, including the management report for the year ending on December 31, 2021 and subsequent filings select this makes with the Securities Exchange Commission from time to time.
I would now like to turn the call over to Andre.
Thank you Arthur and good morning, and thank you everyone for joining us today.
So like this made progress with our pipeline this quarter.
We took a notable step forward with the first preclinical data on new car T 20 by 'twenty two.
The allogeneic <unk> car T cell product candidate being developed for patients with relapsed or refractory non hodgkin's lymphoma or NHL.
We were proud to see that the data demonstrated a robust preclinical proof of concept.
Strong activity against tumor cell lines expressing either as single antigen, CD 20, or CD 22, who both simultaneously.
We remain on track to file an investigational new drug.
For your car T 20 by 22 this year.
You correctly 20 by 'twenty two is expected to be selected first product candidate with fully integrated in house. This London.
This showcases our transformation into an end to end selling gene therapy company from discovery and preclinical development to product development and transfer into GMP manufacturing into clinical development.
We were proud to announce two back to back publication in nature communication.
Providing strong validation of your car T 123 to treat acute myeloid leukemia or AML.
And blasted plasmacytoid dendritic cell neuroblastoma or bpd in.
This is the first preclinical data published on new car T 123.
It supports our rationale for evaluating these allogeneic car.
Car T. One two or three in the clinic.
While the shoes TD, one two or three T cell therapy validated to date do rely on autologous approaches with complex clinical and logistical challenges.
This set of preclinical data strongly support the potential benefits of the allogeneic car T approach in ml and <unk>.
We're proud of these results that grin forced our commitment to cancer patients.
Typically in very hard to treat diseases.
Like ml and our mission to address unmet medical needs.
Our partnerships provide to be an exciting highlights would collect it.
In January allergy and announced that the U S food and drug administration remove the clinical hold on their clinical trials, which was announced on October 2021.
Allergan reported that after investigation it towards determined that the chromosomal abnormalities detected in some car T cell a single patient treated with Allo 501, eight was unrelated to tailor in gene editing <unk>.
Allergy is now focused on initiating the pivotal trial of Allo 501 a M.
Third line large b cell lymphoma around middle of this year.
Pending FDA discussion and continue to enroll in the phase one portion of the study to offer allo 501 to patients in need.
Enrollment has previously have resumed and trial targeting <unk> for patients with relapsed or refractory multiple myeloma and targeting CD 74 patients with advanced or metastatic clear cell renal carcinoma.
This quarter, our partner IBM announced that the U S. FDA allowed 90 to proceed for its first human edited tumor infiltrating lymphocyte or til therapy using select this technology to develop next generation til therapy.
This provides a significant opportunity to deliver the combination of til and immune checkpoint inhibition with a single genome edited til therapy in multiple solid tumor types.
We look forward to continuing alcohol aberration was Iowa.
In April we also received $20 million of convertible note and payment of the upfront collaboration consideration for our partners I told you our therapeutics.
Those will be converted into common stock upon completion of the announced business combination between side told yeah.
And I'll worth Health care acquisition Corp, a special purpose acquisition company.
Back.
Like this is developing cost and Palin fore sight told you to develop gene edited introduced are a potent stem cells or Ips derived natural killer cells.
These announcements reiterate once more that tailwind is the technology of choice for gene editing, which continue to provide the company with expanded business opportunity.
As I stated in our last earning call.
Select it made a meaningful leap powered becoming one of the few end to end cell and gene therapy company.
With our two manufacturing sites fully operational in Raleigh, North Carolina and in Paris.
This planned to initiate dosing of patients in the valleys zero, one trial with clinical supplies a few car T 22 manufactured in house and rally and New car T 20 by 'twenty two in non Hodgkin lymphoma trial during the second half of 2022.
And milestone our entire company has been working towards this year.
Lastly, based on our current plan, we anticipate our cash runway takes us into early 2024.
Now I would like to turn the call over to Doctor Carrie Brownstein, our Chief Medical officer to give an overview of our three sponsored clinical trials and preclinical product pipeline Kerry. Please go ahead.
Thank you for that overview Andre you caught 22 I E. V 22, directed Hallin gene edited allogeneic off the shelf car T cell product candidates currently being evaluated in patients with relapsed or refractory b cell acute lymphoblastic leukemia continues to make progress in the clinic.
At the annual meeting of the American Society of Hematology in December 2021 we really encouraging early data from the first set of patients who received 22 after Olympic completion, Darby cyclophosphamide, and Alemtuzumab and the Bally zero one trial.
These preliminary data shows that adding Alan to them after the foods, Aragon, and cyclophosphamide Master depletion regimen did not adversely affect the overall safety profile. Further. The addition of Alan to the maps attained.
The question and promoted expansion of your car 22 side.
Of anti leukemic activity of new car 'twenty two it wasn't there.
Sally Zero one is currently enrolling patients at dose level, three and we plan to initiate the administration of your car 22 batches manufactured in house from a rally facility in the second half of this year.
This month, we announced our first publication on new car at 123 in nature Communications, providing strong preclinical validation of your cart 123 to treat acute myeloid leukemia.
Our Abilene zero, one study evaluating <unk> 123 in patients with relapsed and refractory acute myeloid leukemia.
Continues to progress and enroll patients with diabetes, cyclophosphamide and Alan he's not pre conditioning regimen, and we look forward to sharing clinical data from this program when it becomes available.
I will now speak to your car T. S Y R. C. S. One direct and Talon gene edited allogeneic car T cell product candidate being evaluated in patients with relapsed or refractory multiple myeloma.
This is mel.
Melanie zero, one evaluating your card fees. One is currently enrolling patients at dose level one.
Darby.
And like reconditioning.
Lastly, I'm excited to announce that we anticipate filing an IND. This year for new car 20 by 'twenty. Two selected this first allogeneic car T cell product candidate being developed for patients with relapsed or refractory non Hodgkin's lymphoma.
New car 20 by 'twenty two features talent mediated disruptions at both attracting to reduce the risk of graft versus host disease and the C. D 32 gene to permit us to see these 52 directed monoclonal antibody in the pre conditioning.
<unk> car T and grabbing that expansion and persistence.
So a little targeting CD 20, and the C. V 22, both validated targets in B cell malignancies is designed to enhance tumor cell, killing and to prevent immune escape. It's a single antigen targeting.
Neocart 20 by 22 has the potential to offer an alternative to CD 19, directed therapy and CD 19 negative relapses.
This April select is really it's preclinical data on new car 20 by 22 at the American Association for Cancer Research annual meeting. These data established robust preclinical proof of concept and demonstrated but the potential to overcome common mechanisms of resistance to car T cell therapies, such as single antigen escape and tumor heterogeneity.
As we previously stated.
An investigational new drug application for <unk> 'twenty by 'twenty two is expected to be filed this year.
With that I would like to hand, the call over to Dr. Being Lang elected Chief Financial Officer for an overview of our financial statement. Please go ahead.
Thank you Gary I will provide a brief overview of our financials for the first quarter 2022.
I would like to highlight that our financials.
Cash cash equivalents current financial assets and restricted cash position of selected exceeding colleagues as of March 31, 2022 was $142 million compared to $177 million as of December 31, 2021. This.
This difference mainly reflects 33 million of net cash flows used in operating investing and lease financing activity is 2 million and negative foreign exchange impact.
Based on the current operating plan and financial projections. This cash position is expected to be sufficient to fund selective stendal operation into early 2024.
The consolidated cash cash equivalents current financial assets and restricted cash position was selected including Calix was $160 million as of March 31, 2022, compared to $191 million as of December 31, 2021.
Net cash flow used in operating.
Capital expenditure in leases were 33 million selectors and 7 million our colleagues in the first three months of 2022, partially offset by a 10 million capital raise accounts.
The net attributable loss to shareholders of select us excluding colleagues was $20 million in the first three months of 2022 compared to a loss of $6 million in the first three months of 2021.
There's $23 million increase in net loss between 2020, two and 'twenty 'twenty. One was primarily driven by a decrease in revenues and other income of $19 million and a decrease in net financial gain of $4 million.
The consolidated net loss attributable to shareholders of selectors, including colleagues was $32 million or so.
70 cents per share in the first three months of 2022 compared to a loss of $12 million or 28 cents per share in the first three months of 2021.
The consolidated adjusted net loss attributable to shareholders of select us excluding non cash stock based compensation expenses was $29 million or 64 cents per share in the first three months of 2022 compared to a loss of $11 million or 26 cents per share.
In the first three months of 2021.
We are laser focus to spend our cash on developing our deep pipeline of wholly owned product candidates is Nick one thing.
Operating our state of the art manufacturing facilities in Paris, and neurology on the other hand, our focus on maintaining an efficient corporate infrastructure should enable more limited growth in G&A spend.
Thank you Bing.
To close out this call I would like to reiterate how excited we are about the continued progress of our clinical trials and upcoming milestones for 2022 pioneering this field like this continuously.
Leverages gene editing in a series of breakthrough innovation into clinical development in order to transform lives of patients with cancer and rare genetic diseases and.
And we look forward to continuing this effort in the second quarter of 2022 and beyond.
Collective proficiency and command of gene editing technology has enabled the successful development of a robust pipeline of novel preclinical product candidate, which are designed to overcome the challenges of cell based cancer treatment.
And gene therapy.
Selected we strongly believe that our product candidate our technology and our in house manufacturing capabilities will lead us to a paradigm shift for patients with hard to treat cancer positioning us at the forefront of this promising medical and scientific field with that I would like to open the call.
For Q&A.
Thank you at this time, we'll be conducting a question and answer session. If you'd like to ask a question. Please press star one on your telephone keypad, a confirmation tone will indicate your line is in the question. Kim You May press star two if you'd like to remove your question from the queue for participants using speaker equipment, it may be necessary to pick up here.
Handset before pressing the star Keys. Our first question comes from the line of Gena Wang with Barclays. Please proceed with your question.
Thank you for taking my questions and congrats on the progress to immediate I would just start with a big picture question I'm pretty sure. You also saw yesterday the Haas abstract release, we first saw the different approach try to improve.
Assistant and see or like a host it's actually craft regarding to allogeneic car T. Using PD one knockout approach.
Any thoughts there do you think with and you have a slightly different approach do you think what could be a better approach or you think it's too early at this point.
Hi, Gena. Thank you so much for the question, Matt and I think this one is pardon me one for Andre.
Well. Thank you gena. Thank you for the question also it's appreciated of course like this has been investigated series of different types of approaches.
To to tackle the hostesses graft.
As well as the grasses to host and we've been very much advanced in series of different type of.
Or ways to do this of course.
The first one that has been always used in the company. Since 2015 is the CD 52 knockout plus TCR Alpha knockout.
TCR Alpha four gvhd, and CD 52 to resist a pre conditioning treatment with Alemtuzumab, which has been today used.
The platform inflected, but also with our partner Allo gene and serve partners Allergan and survey.
Of course, one of the products does not get into this category, which is just wanted to treat multiple myeloma.
Where are we knock out C. A sworn in tier one.
Is it presents a lot of different type of immune cells. Therefore, you Cartier Swan.
The test the knockout of just one to prevent fratricide.
Fratricide, killing has itself linked to depleting activity itself and south and graft. We've shown this last year at GCT and we see that the car.
Does provoke a self and grafman in the patient and can pay for <unk>.
Several weeks and months is in the patient and can cleared a tumor enduring dispirit. So that's like a very interesting.
A procedure.
Self blood for depleting and helping grafting car T such as T. S. One, but all the targets have this property.
And I think that is gone is going to be interesting for us.
Uh huh.
The next is GCT, there will be probably some approaches that like this has been using and developing for many years that are going to be presented by one of our scientist.
At GCG. So we'll communicate very soon on this so there are a series of things that can be.
That approaches that we can do in this space and of course, we are not.
Bound to one way to do it but there are several different ways.
And of course every very often copies.
Okay, well, thank you very much.
Thank you. Our next question comes from the line of Uganda come more rich with.
With Citigroup. Please proceed with your question.
Hi, I'm sorry.
Thanks for taking my questions I just had two on 'twenty one 'twenty two so first with regard to the manufacturing capacity in Raleigh for 'twenty. One 'twenty. Two can you just expand on what is the current manufacturing capacity down there and what do you expect to be the peak manufacturing capacity and then secondly.
Since you have to imagine and the one sell product does this mean that youre going to be able to get away with a lower dose or will you still be expecting to go sit in the same range as with your other products. Thank you.
Hey, Yigal. Thank you so much for both questions that Theyre, great I will take the first one on manufacturing and then hand it over to carry for the clinical question.
So on manufacturing I mean, we're extremely excited that books are Paris, and rally manufacturing are now up and running.
Which really allows us to manufacture the entirety of our product from a to Z, including buffers plasmid DNA mrna, which is delivered with our preparatory electroporation device viral vectors all the way to the allogeneic car T candidate product and rally so thats truly a big milestone for the company and we definitely.
He designed a rally to be supporting.
The entirety of our allogeneic car T clinical trials and then moving forward the ability to be geared up for commercial supply. So that's definitely the plan and.
And I will hand, it over to Gary for the clinical question on 'twenty right.
How you got all nice to hear from you. So yeah. That's a really good question about the dosing I think though and dual antigen targeting IL 20 by 'twenty. Two is really designed for a couple of things one is to enhance speed oven.
When asked to clean the tumor cell and the allogeneic car Ts to promote expansion as well as potentially help with them and so.
So I think there are different reasons for why the 'twenty two antigens.
On our.
Cars for two antigens on ourselves with E Hum.
Helpful. In the clinic that said, it's hard to determine an upfront how that's going to translate to dose and that's why like anything else you have to go through our dose escalation.
Chile, and we'll see where we land.
Understood. Thanks.
Thank you. Our next question comes from the line of Kelly <unk> with Jefferies. Please proceed with your question.
Oh, Thank you for taking my questions. My first question is on your car Ah Tony to share progress so far in the manufacturing in house Kodak's and how far are you in tech transfer and process validation.
The second question is what are the and take or pay the milestone payments over the next 12 months or so not too. Thanks.
Yeah, great. Thank you so much Kelly so on the first question. So you got 22 has been manufactured at Raleigh.
Just by way of reminder, this year, we've announced that we will be replacing the current version. If you got 22 manufactured at our CMO with you've got 22 manufactured in house. So manufacturing has happened at Raleigh, We're finalizing the release and then we will be filing the data with FDA in order to be using the product in the <unk>.
Clinic.
By the end of the year and second half of this year.
That's obviously going to be a great milestone and we will definitely share that with you in second half of this year.
Now regarding the milestone payments I think the main a significant milestone that we're expecting this year is the entry of pivotal trial of Allo 501 a.
Anti CD 19, Allogeneic car T product candidate, we license to Allo gene.
Allergan has guided that they will enter pivotal trial.
With Allo 501, a are in the mid this year, which will trigger a milestone payment to select us and we will definitely have other milestone.
Sorry. Please go ahead sorry.
Sorry go ahead.
No no I was going to say, we will also have other milestones that are coming from and allergy and our partnerships with allergies I events in cycles.
Thank you very much.
Thank you. Our next question comes from the line of Salvino Victor with Goldman Sachs. Please proceed with your question.
Yeah.
Hi, Thanks, This is Matt on for Celgene.
Just a quick question on on 123.
What are we likely to see initial phase one data I know you.
You didn't talk anything specific on the on the call or the press release, but I'm, just wondering whether that could be likely and then could you remind us what the registrational path.
The data are positive when would you potentially move into a pivotal study.
And then also the 123 are you thinking about the market opportunity with regard to fit versus on fit is there anything we should consider there in AML.
And then separately on.
The partnerships is are there any assets or indications you're most excited about thank you very much.
Great. So I will handover to 123 clinical questions to carry and then I will take the Westwood partnerships again.
Yeah, hi, thanks, so much for that so.
Yeah, it's still extremely excited about the new card 123 program you know as you are well aware and just based on your question on AML, particularly relapsed refractory AML is an extremely challenging.
Disease to treat the.
The patients are extremely.
Fragile X.
And it's difficult to move through given some of the difficulties in AML.
That said we remain on track.
We are excited about the program and moving it forward, we haven't guided yet as to when we're going to share data.
What I can say is that we're on.
Moving the program forward and we are extremely excited investigators were very engaged in the program and we're moving through to ensure that we have the right clinical development plan and the right path forward.
Yeah. So on the partnership I mean, I think whats very interesting with the current pipeline is we have.
Several shots on goal, we will have four shots on goal as soon as you got plenty about 'twenty two is in the clinic this year.
And in very different Hematological malignancies, with very different risk profiles. So I think all these assets are are definitely interesting and I think having the ability to have these different products altogether and our pipeline is definitely a defining our asset perspective.
Thank you. Our next question comes from the line of Jack Allen with Baird. Please proceed with your question.
Hi team congrats on the progress and thank you so much for taking the questions.
I just have one right now and it's really with regards to the IP. We saw some interesting data from a competitor care view yesterday with their CD 19 targeted allogeneic car T.
They use a unique gene editing in sequence, but I believe you have IP on the TCR knock out with a variety of of gene editing modality that I was hoping you could just touch on that a little bit more and.
And how you plan to leverage your unique IP position as it relates to that aspect of creating a generic.
It's all therapies. Thanks, so much.
Thanks, Jack excellent question.
Andre for this one.
Well of course in the cell and gene therapy, the eye the IP space is.
Always changing and.
What is interesting for selective position is that we've been based in this space for a very long period of time, and we have been amassing series of different type of IP going from like gene editing patterns that are umbrella patents covering also tantalum agonic lasers.
But also CRISPR.
And we've been using also a lot of our IP and covering all the innovation that the company has been doing from links with depletion regimen to the <unk> of the cells and going through for example, like the questions. We had before such as knocking out certain genes to enhancing grafman such as PD CD 52.
Dr. Michael globally in a replacement by HLA E et cetera, with a very nice package of IP around well.
Now the.
None of these drugs have been so now commercialized or therapies have been commercialized and so today. The situation is that all the competition is still in clinical development and we hope that the first product to be finally BLA.
We will be the one from our partner allergy in Allo 501, eight would be potentially the warm first wanted to file a BLA and students and then once the other competition will start hitting the market that will totally change the position and I think then the IP will become an <unk>.
Interesting.
The assets.
For the company that holds a very large amount of IP now commencing oldest more in details.
This will be something that deadwood, referring to do.
I hope that clears the question.
But as I tried to get context. Thank you so much.
Thank you. Our next question comes from the line of high touch thing with Oppenheimer. Please proceed with your question.
Great. Thank you for that two questions.
Really nice.
The first question is on 20.
'twenty.
22 of the products, you're going to file the IND.
You know I'm sure you're getting closer to getting the protocol finalized there for your phase one dose escalation dose expansion can you just maybe give us some idea of what that could look like.
Will it be on the CD 19 refractory patients could it be off so all comers in that area of CD 19 through 20.
How do you envision the dose expansion dose escalation happening and then going into dose expansion that's number one.
Two the financial questions. So if I just to kind of rough back of the envelope math.
You know it looks like your cash runway into 2024.
Means we have to kind of make an assumption that you're going to get it get about $30 million to $60 million from potentially your partners coming in through milestone payments.
And we're not looking for guidance, there, but you know that.
That's a that's a pretty good chunk of change coming in can you just maybe give us some color around that over the next stuff essentially 12 to 24 months that sort of.
Thank you.
Hi, Howard Tasha and thanks, so much for the questions. The first one is definitely a carry and I'll hand, it over to being for the second one.
Hi, hard times, how are you good to hear from you yeah, So where.
Credibly excited about thinking quite 20 by 22 program.
As you are well aware of.
NHL remains a high unmet medical need and what I think is great about our program is also in a space where there is a tremendous proof of concept not only for autologous car T cell therapy, but for allogeneic as well.
You know, we haven't disclosed what our phase one design is going to look like suffice it to say it'll be a clinical trial dot Gov. When we opened it.
Then, but it's a you know it'll look like your it'll be it'll it'll be interesting and I think we're in a good place to move this through very quickly.
Concept that's already there.
Thank you for asking.
Yeah.
Great. Thanks Kerry.
Sure.
And how about on your cash question, we are comfortable with our cash position right now and Youre right. This is based on some assumptions of milestone payment and we have already provided those guidance and that is all we can answer that question for now.
Great Alright, Thank you Ben.
Thank you. Our next question comes from the line of Rajiv Prasad with William Blair. Please proceed with your question.
Thanks for taking my question, just curious to know kind of as you're taking 20 by 'twenty two into the clinic.
You know expectations for you know could we see this approach extend durability I think alloy rejection has still been kind of a big question here and I was wondering kind of as the antigen specificity that you think is the reason why we're seeing it.
Some of the 19 in 2020 are candidates that we've seen in the clinic thus far.
Then I have a question for that.
Hi, Rajeev very interesting question I think carrier probably the best place.
Sure I mean, I think as I mentioned earlier I think the dual antigen approach is more about having increased contact with them.
Tumor cells for potential improved expansion improves Kelly if that's right.
Well for patients who are multiply relapsed, who may have had lots of vantage and you have the opportunity to.
Both are actually felt that our only expressed in 22 of those that only express 'twenty and those that expressed both and so it really provides a much broader.
Broader killing mechanism bandwidth to think Atlanta James.
In terms of persistent you know again I think that.
In the allogeneic space.
Yeah.
Are looking for a certain amount of persistent in order to have the appropriate and graph on an expansion and killing but we're not necessarily looking for long term persistence and I know in the auto space, mainly because there is not an easy ability to windows.
Well at least the data from a L. L, which is really the only data that I'm showing you is that long term persistence is associated with longer term durability.
We want durability of our responses, we don't necessarily need durability of ourselves more than simply.
So do the killing so I think again we're.
We're going to continue with our approach that we think is a really terrific approach.
That you can knock out using alemtuzumab it allows us to kind of dial in style out.
Yeah.
Systems as needed because as you well know outside of the email space, there's really not that many engines out there that you would want to have persistent.
Significant period of time, so we were.
We strongly believe in our current strategy.
And we think that we're going to be able to see the persistence, we need to see sustained durable responses.
Okay.
Great. Thanks, and then.
I just wanted to get some comments on some of the NK cell AML data that that was asked earlier. This year just kind of curious to know your thoughts on how that sets up kind of in the 123 read out when the NK cell approach as you know showing some NRT negativity.
And there see ours.
Something that we think that we should anticipate with a 123 T cell approach.
Yeah.
Okay.
Yeah Kerry Yeah, just wanted.
Sure.
I was extremely excited to see the end car today that you know again, I think that and as I said earlier in the call AML is.
Such a horrible aggressive disease and as many shots on goal to improve the lives and the outcome of patients with AML is a incredibly positive thing. So we were really happy to see that data and I think it actually bodes well for our programs as well and show that that analogy in a S. R.
Frozen candles can work in the context that I am now. So we are we are looking forward to sharing data when we have it available and.
We're still as I said believe strongly in the program and have very engaged investigators, though I think why you know when we have the data to share we will we will share it.
Thanks Kerry.
Sure.
Yeah.
Thank you. Our next question comes from the line of Silvan <unk> with JMP Securities. Please proceed with your question.
Yeah.
Thank you. Thanks for taking my question and congrats on the progress.
I have two quick questions. The first one about the hard data that.
That came out yesterday.
The caribou they use them more enhanced lymphatic depletion regiment, so is that something that.
You may be looking at seem that they kind of thread the needle in that maybe responsible as well for the greater expansion and it's not only the PD one K O here.
And then my second question was around what can what are the learnings from your ongoing trials and also maybe from the allergy and trials have you can leverage directly to your cart 2022 to inform dosing for depletion and kind of selection patient selection. Thank you.
Hi, Randy there are two great questions and I'll pass it over to Kevin Yeah. Thanks, So much and.
So.
Yeah, I mean, I think their data is interesting, but I do think that the enhanced wanted to depletion, particularly higher dose at the site. So you have to be Super careful right.
It is very dependent on the diseases that you're treating them.
And that's in.
In addition to the dosing. So for example in the context of lymphoma.
Those patients are a little more sturdy they're healthier they're less fragile their marrow hasn't been completely you know desecrated by multiple rounds of chemotherapy.
And so.
Higher does that type of thought.
So Dara D Navy, okay in those patients did not lead to higher <unk>.
Issuing some toxicity I'm sure you saw for example, the.
Precision data in a L. L. A N H L aware they gave much higher doses of five Fu and they saw significant toxicity actually you know leading team grade five events from infection among other things.
It's a very fine needle to to thread, which is why you know again. Our approach is also an enhanced benefits accretion, but not with giving more chemo.
Jeremy I'm, sorry, with the outage season.
If you do knock out because it gives us a lot of length of depletion and selected T cells NK cells and other lymphocytes as opposed to knocking out marrow.
And that approach and we know the drug well it has a profile that we understand well we had very strong guidelines in terms of toxicity management for infections, which are published by M. D. C. And this is something that's been around for a long time and we're very comfortable with.
And allows us to have much more manageable and hum manageable and tweaking so to speak of what that meant that the patient may look like for a specific patient populations and so you know where where footwear sold on what we're doing and we'll see how their data.
How their data progressing that as time goes on.
Thank you, ladies and gentlemen that concludes our question and answer session I'll turn the floor back to Mr. Shaw for any final comments.
Thank you very much everyone for your time I know, we're a liner.
Special period for cell and gene therapy. There is a lot of trials ongoing a lot of different methods that are ongoing are you.
<unk> different approaches for links with depletion for car expansion different type of pets, the visa et cetera, but we see also the like this has been very interestingly position us with our partners.
Algae in Turkey, but also by Tobia and I'll then into.
Fantastic piece, where we've been leading into this space.
Now when we come up with another CD 19, allogeneic data that comes out from the new contracts with the new approach et cetera.
It doesn't make the thing where we see that with us with our partners are getting into new phases in probably the first promos that are going to get to registration at the end will come up from labs that have been selected for a long period of time and we're being excited about what we're doing and.
We are.
Excited also by providing some data on our four assets 22, which is differentiated one to three which is differentiated 20 by 'twenty, two which is differentiated in non Hodgkin's lymphoma, and finally, just one in multiple myeloma. So please.
Watch what's going to happen in the company and I think the next month is in this whole cell and gene therapy space is going to be very interesting and select at this year to contribute to this space. Thank you very much for your time and have a good day.
Thank you. This concludes today's conference you may disconnect. Your lines at this time. Thank you for your participation.