Q3 2022 Intellia Therapeutics Inc Earnings Call
[music].
Good morning, and welcome to the Intel we have therapeutics third quarter 2022 financial results Conference call. My name is Andrew and I will be your conference operator today.
Following formal remarks, we will open the call up for a question and answer session.
This conference is being recorded at the company's request and will be available at the company's website. Following the end of the call.
As a reminder, all participants are currently in a listen only mode. If you require operator assistance. Please press Star then zero on your telephone keypad.
I will now turn the conference over to Ian Karp, Senior Vice President of Investor Relations and corporate Communications I didn't totally up. Please proceed.
Thank you operator, and good morning, everyone welcome to <unk> Therapeutics third quarter 2022 earnings call.
Earlier this morning, <unk> issued a press release outlining the Companys progress this quarter as well as topics for discussion on today's call. This release can be found on the investors and media section of <unk> website, and <unk>, TX Dot Com. This call is being broadcast live and a replay will be archived on the company's website.
At this time I would like to take a minute to remind listeners that during this call and Telia management may make certain forward looking statements and ask that you refer to our SEC filings available at SEC Gov for a discussion of potential risks and uncertainties. All information presented on this call is current as of today and then tell you undertakes no duty to update this information unless required.
Wired by law.
Joining me from Intel you are Dr. John Leonard Chief Executive Officer, Dr. David Lebel, our Chief Medical Officer, Dr. Laura Sepp learned Zeno, Chief Scientific Officer, and Glenn Goddard Chief Financial Officer, John will begin with an overview of recent business highlights David will provide an update on our clinical program. Laura will then recap the company's R&D progress.
And Glenn will review until its financial results for the third quarter.
John will then offer some concluding remarks before we open up the call for Q&A with that I'll now turn the call over to Joe.
Thank you Ian Thank you all for joining us this morning.
And I'm, telling you we're building the industry's leading genome editing company by deploying the broadest and deepest toolbox, we're pioneering novel editing and delivery solutions to harness the immense power Christopher based technologies for in vivo and ex vivo therapeutic applications, each with the potential to revolutionize medicine.
During the third quarter and more recently, we've continued to execute against our strategic priorities as we advance our full spectrum pipeline and modular platform. This.
This includes achieving significant clinical milestones across our landmark first in human studies of <unk> 21, and until a 20 O two.
In September we were delighted to share positive interim data from both clinical trials, which David will recap shortly.
Both datasets demonstrate the potential for investigational therapies to be transformative onetime treatments for people living with either atg are amyloidosis for hereditary angioedema.
By successfully editing of disease, causing genes. We showed for the first time and we can not only significantly reduced levels of the offending protein, but also in doing so can you listed a clinically meaningful impact.
Further these data provide powerful evidence of the modularity of our platform and highlight the strong foundation on which we will move forward our pipeline of CRISPR based therapies.
Looking forward to sharing additional interim data from these ongoing studies with NGL, a 'twenty one and into late 20th too in the coming weeks I'll now turn it over to David.
Thanks, John and welcome everyone.
You're getting with 20th one for the treatment of trend, probably reason amyloidosis or a P. P. R. Amyloidosis, we recently shared positive interim results from the cardiomyopathy arm of the ongoing phase one clinical trial.
These interim data were from 12 adult patients with a P. T. R amyloidosis with cardiomyopathy with New York Heart Association Class 123 heart failure.
These data showed mean serum GTR reduction of 93% and 92% at the 0.7 and one milligram per kilogram doses, respectively at day 28.
At both dose levels, they were remarkably consistent levels of protein reduction achieved ranging from 90% to 97%.
'twenty one was generally well tolerated two of 12 patients reported tranches infusion reaction, which resolved quickly and was the only observe treatment related adverse events.
No clinically significant laboratory abnormalities were observed at either dose level.
We continue to believe these deep durable and consistent levels of protein reduction support 20th ones potential to be the best GTR lowering agent.
We look forward to presenting for the first time these interim data, including extended follow up at the a H a scientific session to an audience of leading cardiologists.
The selection of our abstract for a late breaking oral presentation underscores the excitement the cardiology community has for a novel investigative approach.
We announced today that we initiated dosing in a 55 milligram fixed dose, which correspond to the 0.7 milligram per kilogram dose in part two of the study.
Part two which is the dose expansion portion will include a minimum of eight patients in the Polyneuropathy arm and 12 patients in the cardiomyopathy arm.
As previously guided we expect to complete the enrollment of both arms of the phase one study by the end of this year.
This will inform our dose selection decision for subsequent pivotal studies, which we expect will include U S clinical sites.
We look forward to sharing additional details on next steps in early 2023.
Turning now to our second in vivo program.
When you go to our investigational therapy for the treatment of hereditary angioedema or a J E T.
Here, we shared positive interim results from the ongoing phase <unk> clinical study at the 2022 <unk> <unk> symposium in Berlin.
We're thrilled to report that 20 O. Two resulted in robust reductions in plasma <unk> levels and the rate of swelling attacks in patients with H E E.
A single dose led to dose dependent reduction in plasma Calvert prime with mean reductions of 65% and 92% and the 25 milligram and 75 milligram dose cohorts by week eight respectively.
In addition to plasma caloric, Brian levels H H E attack rates are also being measured in this study with the first analysis occurring at the end of the Prespecified 16 week primary observation period.
A single 25 milligram dose of 20 O. Two resulted in a mean reduction in HIV attacks of 91% through the 16 week observation period.
Additionally, two of the three patients have not had a single agent or your tax treatment and all three patients have been attack free since we've been through that presented follow up.
These early data underscore the potential for a single dose of 20 O to permanently prevent the debilitating and potentially fatal swelling attack that characterize this chronic lifelong genetic disease.
And importantly, Mark the second time in history clinical data has been generated for systemic in vivo CRISPR based therapy.
Later this month at AC a AI, we look forward to presenting additional data that will include initial safety and <unk> reduction data from the 50 milligram dose cohort.
And additional safety pallet crime reduction in attack rate data from the 25 milligram and 75 milligram dose cohort.
As we've shared previously we expect to begin the phase two placebo controlled dose expansion portion of the study in the first half of next year and anticipate including U S clinical sites as part of this trial.
I'll now hand over to Laura our CFO will provide updates on our platform and R&D efforts.
Thank you David looking beyond India late 'twenty, one 'twenty two we continued to progress two wholly owned development candidate for the treatment of alcohol wine and Atrix C U E.
Do you think the MD&A, Turkey, Iran. Our genius actually we can be.
At this stage when I say D C and into late 'twenty, Yes, and.
I hope that kind of be like something different manifestations, we're going back to India and everything like D V D football candidates.
Shifting now to our ex vivo efforts.
Yeah, we have developed a proprietary allogeneic platform, which is designed to overcome the objection by the coast. It can be patient because they do I believe it was kind of an energy names.
She is happy.
By implementing our LNP based engineering and how about matching approach, we create allogeneic T cells with high end consumer activity, which may be uniquely capable of Pepsi seen the patients to maintain going up okay.
Last month at <unk>, we shared for the first time and it involves our novel genetic approach, which includes no called HLA class two and HLA, a widely painting H M. A b and C properties.
Yeah. He took himself when tested in preclinical models, we're able to avoid destruction by hosting.
And importantly by coast NK cells, it previously and talked liability.
Sure, they're like Oh, you're watching healthy donor to patient's T cells for H E B a nature of the.
We can create an off the shelf therapy that addresses a majority of the patient population with only a small pickup lockers.
That's part of the innovation that you see continued to propel our robust research engine I think hold on.
And part of that program.
Allogeneic platform already under these collaborations with Adam.
Alright.
For our wholly owned efforts I would be maybe like therapies are currently undergoing for N. P 96 to one and I know can be can be they've really done a man for the treatment of PD therapy expressing hematologic cancers.
We're also applying this technology to a D C I'm trying to get the nephew could one as we transition our former clinical candidate into L. A six day, one so another genetic person.
We the breadth and depth.
Birthdays toolbox, we're guiding forward platform innovation to maintain our leadership position at the forefront of genome editing and evolution.
Now I'll turn the call Glenn our CFO , who will provide an overview of our second quarter financial results.
Thank you Laura and good morning, everyone and tell you continues to maintain a strong balance sheet that allows us to execute on our pipeline and platform.
Our cash cash equivalence and marketable securities were approximately 849 million as of September 32022.
Compared to $1 1 billion as of December 31, 2021.
The increase was driven by cash used to fund operations of approximately $276 million as well as the acquisition of rewrite therapeutics $45 million.
The decrease was offset in part by $62 1 million in net equity proceeds raised from the company's at the market agreement and $15 1 million and proceeds from employee based stock plans.
Subsequent to Q3 through the period ended October 27, 2022, we continue to increase our cash position by raising an additional $115 million net equity proceeds from our at the market agreement.
Our collaboration revenue increased by $6 1 million to $13 3 million during the third quarter of 2022 compared to $7 2 million during the third quarter of 2021 inch.
Kris was driven by our collaborations with Abbott and sell and type of arena.
Our R&D expenses increased by $36 2 million to $96 7 million during the third quarter of 2022.
Compared to $60 5 million during the third quarter of 2021.
This increase was mainly driven by the advancement of our lead programs and personnel growth to support these programs.
Our G&A expenses increased by $3 4 million to $22 1 million during the third quarter of 2022 compared to $18 7 million during the third quarter of 2021.
This increase was primarily related to employee related expenses, including stock based compensation of $2 4 million.
Finally, we expect our cash balance to fund the operating plans beyond the next 24 months.
With that I will now turn the call back over to John for closing remarks.
Thank you Glenn as you can see this quarter marked major milestones for Telia and the patients we aim to serve.
Great T T R. Amyloidosis interim results from the cardiomyopathy arm of the study underscores the potential of it until the 'twenty one to set a new standard for treating patients with this life threatening disease, regardless of manifestation.
Rapid Lee completing the dose expansion portion of the study and engaging with regulatory agencies, including in the U S. As we move closer to a pivotal trial.
Richard E. We believe these preliminary data speak to you until the 'twenty twos potential to address the current treatment burden by permanently preventing debilitating swelling attacks associate with Hey, Chi following a single dose treatment.
We plan to initiate the phase two portion of the study in the first half of next year.
But the second clinical proof of concept in hand for systemic in vivo gene editing we can.
You want to lead the genome editing revolution by expanding the horizon, what CRISPR can do well.
We look forward to additional data presentations from both until late 'twenty, one and until late 'twenty two in the coming weeks and assuring our 2023 strategic priorities for advancing our full spectrum pipeline and platform early next year.
With that we'd be happy to answer any questions. Operator, you may now open the call for Q&A.
We will now begin the question and answer session.
Ask the question you May Press Star then one on your telephone keypad.
If youre using a speakerphone please pick up your handset before pressing the keys if at any time. Your question has been addressed and you'd like to withdraw. Your question. Please press Star then two.
Please limit yourself to one question.
At this time, we will pause momentarily.
To assemble our roster.
The first question comes from Greg Harrison with Bank of America.
Please go ahead.
Good morning. This is Mary Kay on for Greg. Thanks for taking my question.
For the 21, Okay, and you mentioned moving into additional states.
Could you discuss your priorities fridges selection decision subsequent pivotal studies.
David do you want to speak to how we think about those selection.
Yeah. Thank you.
It sounds weird designing the pivotal study at the same time, we are collecting more information on dose and we did announce that we have started to treat patients at the 55 milligram dose.
What we saw in the patients with cardiomyopathy that the doses of 0.71 0.1 milligram.
Really the same reduction in T. T R, which is our main pharmacodynamic endpoint and we think is very closely aligned to what efficacy we're going to eventually see.
So looking at those two doses, we chose points rather than the lower dose as you always would.
In terms of giving the best safety.
And translated that into a 55 milligram dose.
This is still in phase one part two is a phase one confirming that dose.
But everything is looking quite good and we do now anticipate that it's likely to be the phase II dose.
Of course in phase one you keep learning things.
You have to confirm that.
Great. Thank you.
The next question comes from Joseph Thorn with Cowen and company. Please go ahead.
Hi, there good morning, and thank you for taking our question in terms of the response for H H E. N attack rates I guess, what is sort of the bar here for patients that are on prior prophylaxis, obviously, taking everyone does your after 10 weeks. It was an amazing result, but as we start seeing longer term follow up what represents.
Sort of a significant advancement in the field versus prophylaxis, if anyone has any breakthroughs. Thank you.
David We'll turn to you one more time, how do you think about Oh.
We're shooting for with respect to attack rates.
It's what we're seeing with prior prophylaxis, obviously, a patient having breakthrough attacks.
Attack, so that the therapies are getting.
Isn't it isn't getting them severe attacks.
Isn't extensive work in this group.
And as we move to more advanced studies, it's likely that most of the patients would not be on prior prophylactic treatment. However.
However, the standard with.
The current therapies, often achieve about a 90% reduction overall.
As you can see with these patients with breakthrough that that's.
Not working for everybody even at 90%.
So we think what will be a significant advances from getting too.
Starting with the Pharmacodynamic endpoint of getting pre calix grind down right now we see we can get to.
92% with the 75 milligram dose that we know that we can get to.
Lower levels that have been achieved with other therapies.
We'll be looking at the whole picture in phase two looking at two doses and using that to decide what is the best dose obviously looking at both our.
The safety picture and and the attack rates in phase two.
We think the significant advances what we're trying to get to was that.
All patients or as many patients as possible do get to zero attacks, whether that occurs after 10 weeks as it did in one patient or if that occurs right from the.
Echo when they first get the treatment.
Perfect.
Just yeah, just to add one thought to that and one of the things that I think needs to be borne in mind is it's not just attack rates.
Obviously, that's the.
Primary manifestations of disease, but one of the things that we think really brings additional value to patients would be freeing up what is a very significant burden of care one of the things we've learned in talking to Kols and patients themselves is that the very involved.
<unk> that many patients need to take as a relative barrier to their success and so in addition to achieving those very very deep reductions in attack rates, which we're very excited about we think we can be in a position, where we may be able to free up many of these patients from actually taking any therapy at all which I think will really constitute a significant advance.
In the space.
Perfect. Thank you very much.
The next question comes from Brian Cheng with J P. Morgan.
Please go ahead.
Hey, guys, it's great to see the progress and thanks for taking my question.
It seems like a pretty confidant to startup pivotal for a T T R and the phase two <unk> sites in the U S well.
We're wondering if you can elaborate on where you stand in terms of lining things up to start trials in the U S.
Any insights from your interaction with the FDA with the App Super helpful. Thank you.
Okay.
Again, David do you want to speak to that.
Yeah. So we have had interactions with the FDA around both programs.
We do feel we have a very good idea of what they are looking for in the I M D.
And stated for H as we've already said that that's going to happen in the first half.
We are going to phase two in the U S will be part of those phase II trials.
Well, we haven't given the guidance will be giving more guidance on GTR in that case, we're clearly going through a more advanced studies likely a phase III study in that case.
That it is it is a more expensive application for phase three as you can imagine again, we've had those interactions and we have a good idea of what they want and we'll be talking about it more we didn't Wanna get agreement.
Don't want to come out prematurely with what that design as well.
We do feel we have a very good design win with a top experts consulting with us and supporting our approach.
Okay.
The next question comes from Richard Law with Credit Suisse. Please go ahead.
Hey, guys. Good morning, I based on the positive data so far in the U K E is there any possibility that the phase two could become pip it oh, and if not what type of data what you'd need to collect before proceeding to a pivotal study.
Okay.
David can we go again.
Oh. Thank you, yes, so the phase II is a small study right now with a total of 25 patients including.
Two different doses, where we have 10 patients five patients with placebo. So we do believe that is too small to be a pivotal study.
The pivotal study will not be much larger than that.
Often you have a total of about 100 patients or even less that are needed to get an approval in this disease, but we will be obviously.
Phase II data to support that.
Future BLA, but we will design a pivotal study to support that as well.
The next question comes from.
So what Neil Mothercare with Piper Sandler.
Please go ahead.
Hey, good morning, Thanks for taking my question. So two part question. One is what additional data can we expect that the edge maintained at the upcoming in the upcoming weekend.
And then the second part is they now that you have collected a lot of data com and Expedia and some 2001 and 2002.
Is that a possibility to initiate the first in human trial for the ATB program in U S.
Thank you for taking my questions.
David do you want to.
I am not sure we can.
Run too far ahead of information is going to be presented literally interesting couple of days, so I wouldn't get too.
To wait to get the Fuller picture, but.
Wanted to speak a little bit more about what lies ahead for some of the other programs.
Yeah. So what what is important we think go into IHA is we will be in front of the largest cardiologist study.
But I guess so it is an important setting where we have this late breaking aspect it's.
Breaking abstract it does reflect the high interest cardiologist in our program.
We will know it hasn't been very long as you know since we gave some of the initial data that we will extend that out a bit in this in this presentation.
His extensive data.
Yeah, we do we do as I said, we are preparing.
He's been in the plan to have the U S. As part of the Oh, the ATT Oh, sorry, the Alpha one antitrypsin.
Yeah no.
We haven't said exactly what it's going to start what we have said and done.
In the second half of the year, we will have a CPA or IMD or both.
For 31, that's our first marketing program, so very excited about that.
And so that is in 'twenty three we haven't given guidance yet on a 23.
Three which is being knocked out of the mutant Alpha one so don't take that as meaning that it's very far behind the other water or even behind it but we are we do plan to give some more guidance to that in the new year.
Thank you.
The next question comes from Gena Wang with Barclays. Please go ahead.
Hi, Good morning, this is hershey that aren't for Gina.
I was wondering could you remind us if you saw any I'll, let Pete elevations in preclinical models and I guess, specifically in nonhuman primates for boat to 'twenty, one and 'twenty Oh tier any color here would be appreciated. Thank you.
I think I can speak to that pretty quickly.
Any LNP given in sufficient quantities.
It will lead to L. A T increases that is a class effect that's routinely seen across literally every single LNP that we're aware of that's ever been tested.
Across the fields in different companies et cetera.
And as I'm sure you know as part of preclinical work one dose to determine the therapeutic index by getting to actual levels of toxicity, which is an FDA regulation that we.
Paolo as does everybody else in the industry as well so yeah. She can see L. P. Elevations. The goal is to have a therapeutic index such wide. So that you can administer these don't pay no one piece to patients successfully with little to no increases which is in fact characterized clinical program thus far.
The next question.
Question comes from Salvi, <unk> Richter with Goldman Sachs. Please go ahead.
Hi, Thanks for taking my question and congrats on the progress. This is telling me one for solving how are you thinking about further in vivo programs beyond T. T. R E T and the decision making for pursuing more in vivo programs versus ex vivo cell therapy programs. Thank you.
Yeah. Thanks for the question.
The way, we think about our work in general is a set of filters that we apply to <unk>.
Ring particular programs too advanced.
We think about the nature of the NH, we think about unmet medical need.
Think about benefit risk and we try to do all of this in a very.
Deliberate fashion, where we add information as we get into the clinic.
So as we look at T. T. R. E. These were very clear examples where the street forward ended up knocking out of a well established genetic target would lead to a.
Chemical section that we can monitor and clinical results it would be relatively straightforward to manage standard sort of clinical trial formats and thus far is that approach has served us well.
As we look ahead, we think about additional modalities, which builds on the work we've done so far.
It has to move to actual Ciena assertions. This is reconstituting a chain that may be deficient or otherwise on functional that speaks to our alpha one program that we just shared a few thoughts on <unk>.
We also think about.
Targets that either move more into the rare disease space weren't too more prevalent sorts of conditions, but at the same rules supply and serve unmet medical need.
We believe that we can advance the.
Therapeutics from those patients in a meaningful fashion.
And can we do this in a way that we can be competitive and like ideally reset the therapeutic bar.
So there's several conditions that we've been working on and as we've laid out there will be some additional and people targets that will speak to.
As time goes on.
Some of this guidance will be reset.
At the beginning of the year, when we talked a little bit more about advances that we've made but.
We our work is far from done and then people targets and we're excited about where we're able to take it.
Yeah.
Thank you.
The next question comes from Dae Gon Ha with Stifel.
Please go ahead.
Good morning, guys. Thanks for taking our question I wanted to ask you about the 2002 timeline are the.
The goal here is to start the phase two in first half 'twenty three two doses being explored with a placebo arm, but given the proximity to a see AI, where we'll probably have relatively less of a follow up on the 50 milligram cohort and given what we know about T T R where obviously.
There were very profound effects, but some other short term follow up didn't quite give you. The full picture on the safety side as you progress the 80 milligram fixed in the dose expansion. So how do you think about sort of being confident around what you'd get before the end of the year in deciding the doses going forward in phase two hope that makes sense. Thank you.
I think I can set the foundation for that.
One aspect of your question I think is not quite on target, which is what we can learn in the short term, particularly with respect to safety.
Virtually everything that we've seen with respect to safety has taken place either within the first two days or.
In rare instances, which in the first four weeks.
And that gives us a great deal of confidence to think about the safety aspects of any dose that we would ultimately pursue with respect to H E E.
In both the knockdown and the clinical aspects.
We're able to see the knockdown activity very very quickly.
Secondly, as we did in the T T. Our case, where things pretty much settled out within the first four weeks. There's other agents out there that we can extrapolate from what you've been guideposts for sometimes up.
To this point.
And we have the added advantage of seeing within.
A few weeks of follow up 16 indications your studies.
Give us a really good sense of where these patients settle out. So we think we're in a good position to meet that guidance and David's team is well on its way to moving that forward. So stay tuned as we give you more details.
The next question comes from Terence Flynn with Morgan Stanley .
Please go ahead.
Hi, Thanks for taking the questions.
On Tuesday, or zero, one I was wondering if you can share any more thoughts on the potential control arm I know thats something you guys have alluded to in the past, but it sounds like youre, having additional conversations with regulators. So just wondering if you can share any color there. Thank you.
Well so work in progress.
And as David referred to earlier.
We wanted to have a clinical study that is going to be meaningful with respect to patients and the doctors, who treat them that will address the regulatory requirements and that.
Speaks to the set of agents that are available currently.
The Bottomline is theres very good paradigms already out there and I would look to them for guidance in terms of the general approach, but David you have anything you want to add to that that extension.
Yes, I think those are the main points, but we're very encouraged about of course is that we can get to deeper levels of ETR reduction, which we think will make a difference in terms of how effective the drug is relative to some of the other drugs that are being tested in this area. So that's also part of what we're thinking as we define our pivotal.
But the most important endpoints with Jon is saying are the those are clinical benefit reduction in cardiovascular events reduction in mortality.
So it would be very.
Importantly, our trials as we can.
Forward, you'll hear more about that.
The next question comes from Maury Raycroft with Jefferies. Please go ahead.
Hi, good morning, and thanks for taking my question based on the H E E experience. So far does it help narrow the type of patient you want to enroll into the phase two portion, including based on a baseline attack severity and at this point do you know what the phase III study duration will be could it be three or four months study based on the amount of time.
Where you can see efficacy.
Well, it's just set some expectations with respect to patients. We believe that the approach will be generally applicable and certainly our objective as we develop the drug for the treatment of these patients would be to bring something that's therapeutically relevant to the broadest set of patients as possible, we think ultimately that could.
B virtually anybody who suffers from type one or type two.
Hey, David you.
I share your thoughts with respect to the duration of the phase II study.
Yeah. So the standard follow up for these studies is in the 16 week to 24 week period. So.
We'll be the studies go quickly based on that as you know.
[noise] across various priorities that we tried to talk about not only that are reflected in our guidance, but as we think about how we design.
Design the company.
As you know, we characterize ourselves as a full spectrum genome editing company, because we think that there's very significant opportunities from both the in vivo and the <unk> space.
Critically important is this is a platform that's evolving rapidly and we want to be not only proficient but leaders in all aspects of that so we.
We will allow us focus on the platform and making sure that our ability to the genome editing of any type.
Unsurpassed by any company operating in space and thus far we think that's certainly the case here.
Clearly advancing the clinical programs as a primary importance for us.
Work in 20 O one and 20 O two validates the work that we do on the platform side. So you think it's very important to move forward programs that will give us clear signals about the nature of our work, but also programs that as we said reset the bar for the therapeutics Ah Ah that are available to these patients were all.
Also a very thoughtful about how we think about the ex vivo space and here you heard in Laura's comments about the work we've done to what we think significantly advances.
The allogeneic space, which is again sort of a platform capability, that's broadly applicable not only across programs that we wholly owned ourselves that we think will serve as the basis for important collaborations across the industry. We've already established two of those.
We referred to happen so and cover it up.
We think about partnering it's less about funding the advance of the company because we think with the cash balance that we have we're able to do those things that I've already referred to but as we look to partnerships.
We think of them in terms of the technology.
Technology or biology that it can bring to us that advances what what we're able to provide from a genome editing perspective, and if you look across those partnerships that would come this far that's basically how all of them are set up and I I would expect that as time goes on will continue to take them.
That kind of approach.
So there it is it's a lot going on at the company, but we think that we have ample resources to carry out what what we've set out is our top priority.
Super helpful. Thank you.
The next question comes from book that you see with our B C things.
Please go ahead.
Oh, great. Thanks, so much for taking my question quick rattling all the progress maybe a quick one for David and any update on the etiology of the great for a L. T. A previously recorded for a Kitty are pulling neuropathy that occurred I think a day 28, I think last time, we spoke you mentioned that a number of bipartisan we're being explored.
Including alcohol or maybe viral in nature. So just wondering if at this point, we have enough evidence to suggest sweater that a L. T was or was not drug related thanks. So much.
But do you want to speak to that that.
Unusual patient appears to be very much not while you're for work so far.
Yeah cause we don't have anything new.
Terms of viruses if it yeah, we haven't identified the virus. So it if it is it's a it's a.
Pirates, we we haven't been able to pass for and you know we don't learn more about alcohol usage. So it. It is John says, it's an outlier basically is doing great by the way that T. T R.
Perfectly ducks and.
But with extra like the others.
So that that's where we are and obviously will.
But we don't expect much more to come in at this point.
Got it thanks, a lot guys.
And the last question today comes from June Lee with tourists.
Please go ahead.
Hey, Thanks for taking our questions. There's a few out there that teen therapy for Alpha one antitrypsin failed because normal copy that gets picked is get caught up by that colonization of the meat in N out for that.
A T and deliver any thoughts on that and with the metric for success, 11th $19, a plasma a P or something else can you do.
At the trial.
[noise], Laura I'm Gonna call on you how do you think about producing normal protein in the presence of the mutant form.
And I think it's important to remind people, how we differentiate ourselves versus stinger gene therapy.
Yeah, <unk> and then I'm thinking further question right. So we have two candidates 20th three analysis to know kind of like Nipping farm and Turkey and whining since it has been cooking and those two.
[noise] separately or in combination in any order.
So you know.
The other thing to keep in mind.
<unk> you know for the symptoms.
They have no labour manifestation, and you know no long maintenance station.
So you used the expression feel or normal O'neill is high enough you may.
Yeah, some condition and that works fine may be able to you know phenocopy hits us I guess I've seen the bank.
So that you know that.
Keep in mind and yes, we are I worked all these techniques numbers on that so I just have one of the interesting.
So you would not be 11, micromolar it wouldn't be normal levels.
Okay.
This concludes our question and answer session I would like to turn the conference back over to Ian Carp for any closing remarks.
Great. Thanks, so much Andrew and thank you all for joining us today and for your continued interest and support and and tell you. We look forward to updating you on our progress in the coming weeks and months ahead and have a great day everyone.
The conference has now concluded. Thank you for attending today's presentation you may now disconnect.
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