Q3 2022 Y-mAbs Therapeutics Inc Earnings Call
Good afternoon, and welcome to the <unk> Therapeutics incorporated earnings conference call for the third quarter of 2022.
At this time all participants are in a listen only mode.
Later, we will conduct a question and answer session.
And instructions will follow at that time.
As a reminder, today's conference will be recorded.
Let me quickly remind you that the following discussion contains certain statements that are considered forward looking statements as defined in the private Securities Litigation form Reform Act of 1995.
Such statements include but are not limited to statements about our business model and development commercialization and product distribution plans current and future clinical and predict and preclinical studies in our research and development programs expectations related to the timing of the initiation and completion other regulatory.
Submissions regulatory marketing and rent reimbursement approvals, including statements with respect to the potential F. D. A preamble and utility embarked mob pipeline development programs potential for.
Daniela.
Territory expansion and advancement of Sada car.
Collaborations or spit or strategic partnerships and the potential benefits thereof.
Expectations related.
Two our anticipated cash runway and the sufficiency of our cash resources Daniels that revenue guidance and other guidance for 2022 and future years, and our financial performance, including our estimates regarding revenues expenses and capital expenditure.
Acquirements and.
Statements that are not historical facts.
Because forward looking statements involve risks and uncertainties. They are not guarantees of future performance and actual results may differ materially from those expressed or implied by these forward looking statements due to a variety of factors, including those risks, including those risk factors discussed in the company's quarterly report on form 10.
Q4, the third fiscal quarter ending September 32022 has filed with the SEC I said on November sat on November 7th 2022 at this time I would like to turn the conference over to Thomas Gad, The company's founder interim CEO and President. Please go ahead.
Thank you Danielle and good afternoon, everybody and thank you for joining us today.
With me today, I have Bo Kruse, our Chief Financial Officer.
And then our Chief commercial Officer, Sue Smith, and our Chief Medical Officer, because that's where I am.
Let me begin by briefly reviewing with you the highlights of our third quarter first and foremost Daniels of sales pick up noticeably and we are proud to report record revenue in Q3 of $12 5 million up 28% compared to Q2 and up 20% compared to Q1 of this year, which had previously been our best quarter.
To date.
However on October 28th Yoga outcome panel Regrettably voted 16 against them zero in favor of the assessment.
Overall survival from boats, but.
For the treatment of CNS metastases from north of Soma.
We anticipate a decision from the F D a.
And before the previously reported to date on November 30th 'twenty to 'twenty two.
As a reminder, the FDA is not bound by the advisory committee's recommendations, but generally takes the recommendations into consideration when making its decision.
In light of this development I would like to assure you that the company had already developed scenario planning to ensure we were ready for any potential outcome, including this unfortunate one.
We will provide more details, but cheesecake operational update following the F D a formal decision and feedback.
I believe its important so we did say that our current cash run rate is based on our existing cost structure.
The extending into mid 'twenty 'twenty four without any P. N V proceeds from Robert Smith.
Which Bob will talk about later on the call.
Turning to Danielle song.
All of US at my message truly proud of our launch today and being able to offer two children Daniels of following accelerated approval for the treatment of relapsed and refractory Irish nor the Soma and the bone in bone marrow, who have demonstrated a partial response my response or stable disease two prior therapies.
We are making considerably efforts to expand access to Danielle so outside of the U S.
And he also was recently approved in Israel.
Relapsed or refractory or have you still have the soma and what it will be commercialized by our partner channel.
Regulatory submission was ultra confused about 80 of them in Brazil and September 2022 on the tail of submissions in Mexico and Colombia.
We look forward to continuing Danielle just expansion efforts in the Latam region.
We also hope to see a decision on regulatory approval in China.
Collaboration with cyclone any day now.
As I mentioned, our Daniels, our revenue increased 28% from our previous quarter, primarily driven by an increase in new U S patients as.
As our Chief commercial Officer, Sue Smith has been leveraging our prior experience in leading global product launches.
And delivering operational efficiencies with all other companies highlight and differentiate then you're also in the U S and potentially other markets.
We are starting to see the positive impact of our strategic development plan and its execution and are confident that we remain on the right track and are pleased to reaffirm our full year 2022, Daniels, our revenue guidance of $45 million to $50 million.
And with that I'm pleased to have <unk>.
Oh go on what I'll call today over to you soon thank you.
Thank you Thomas and good afternoon, everyone I'm pleased to be with you all today and I'm happy to have the opportunity to talk about the progress we've made.
We believe the Q3 that Q3 proved to demonstrate our strategic commercialization plan supports our strong third quarter revenue growth.
The patient is at the center of everything we do and fuels. Our team every day our growth drivers stem from three key areas first caregiver engagement second new patient identification and three an aligned field and marketing teams focused on key customers.
First our caregiver education and support programs, which I discussed on our last call or a meaningful way to provide education and support we can.
Continued to provide new resources and support here that lead to meaningful parent position dialogue and initiation of treatment.
Second in an orphan indication when you are following such a small number of patients patient identification is essential.
This has also been a focus of the team filling the funnel with qualified leads and managing those relationships over time until that patient becomes relapsed or refractory and has converted to Daniels.
And third the marketing and sales team that was very aligned plans and marketing mix focused on the target and opportunity accounts.
This consistent focus with the right message at the right time and also formulary inclusion in 43 accounts.
Slowly has been building to what we believe is an appropriate patient conversion.
As a result Daniels adoption is trending slightly upward in the anti G D to market exiting the third quarter of 2022.
We gained seven new customers in Q3, including several notable centers of excellence.
By the end of the quarter, we had 43 accounts with 18 of those or 40% you'll have had two or more patients on Daniels huh.
The team celebrated in August when we had several new highs in terms of sales and enrollment with the highest number of patients ever in the hub and the highest number of vials sold in one day of 99.
I'm proud of the team and we are excited to continue building on the solid foundation, we have in place for Danielle. So thanks for your time and back to you Thomas.
Thank you Sue building on this renewed momentum in paid are indeed pedestrian arena.
It is important to remember that what I am asking is also committed to potentially introducing danielle so into larger adult indications.
And continue to explore potential partnerships to address this opportunity.
We believe that IMAX is well positioned to unlock the further potential of our platform to provide benefits to more patients while creating value for shareholders.
In the clinic, we have initiated a new investigator sponsored study.
We've named it BCC zero 18 would be childhood.
Cancer Research consortium during the third quarter.
This is a multi center phase two trial up and they see them at.
In combination with standard induction induction therapy for patients with newly diagnosed high risk neuroblastoma.
We anticipate that the addition of N C. A D D to therapy to induction chemotherapy.
We saw them being to improve end up induction responses and improve survival.
We plan to have a total of 40 to 50 sites in the U S and Canada.
The study is already recruiting.
Dosing patients and the target enrollment is 76 patients.
Further we continue to work on our planned pivotal multi center osteosarcoma trials, but that Nielsen, which we plan to open in 2023.
As you can hear we are very excited about the various possibilities going forward to expand the commercial but sort of everything else. So we're addressing additional pronounced unmet medical needs.
Turning now to Sada technology or liquid radiation sada as a key.
Innovative platform in our portfolio that we believe continues to show great promise in the targeted delivery of radiopharmaceuticals to tumor sites with minimal off target effects, providing opportunity to significantly increase their therapeutic indexes.
As we continually optimize the technology, we become even more encouraged about the potential scientific advancement. It represents for the company and the medical community.
During the third quarter.
We received the IND clearance for our first Sada construct G D. Two sada for <unk> positive solid tumors and we expect the first clinical site to open in this quarter.
With the initial efforts to validate gd to startup by treating adults in small cell lung cancer sarcoma and melanoma.
We believe that we are well positioned to explore potential partnership.
Options to leverage talked for proprietary Sada platform.
Sada platform is highly differentiated due to our two step infusion collecting pharmacokinetic data by imaging dos, enabling us to derisk programs early on.
And due to the fact that our technology makes it possible for potential partners to use lots of infusion centers and lots of indications as to how a drug is infused his approach and only injection first follow up on isotope injection our unique two step method.
Making it possible to involve the metal.
And avoiding having to send patient straight to nuclear medicine departments, we expect to treat the first patient.
And this trial late in the fourth quarter of this year and anticipate sharing data in 2023.
We also plan to explore repurposing of previously failed late stage clinical to construct that have already been proven in humans.
By optimizing them off into a sada construct.
Moving onto our Bispecific programs, the R&D for CD 33 by specific.
Pediatric AML has been clear.
We believe this product candidate could potentially address one of the most challenging.
Malignancies for children as AML remains an important pediatric unmet medical need.
We have to use the first patients to in fact.
In this phase one trial and are looking forward to reporting data as the story unfolds.
We continue to work efficiently to support 10 deals with a global commercial footprint through regional partnerships across the globe.
As you know we established a partnership with cyclone Pharmaceuticals, fourth and Yeltsin expansion in greater China.
We are especially excited about the prospect for a regulatory determination on the potential approval in China.
It is expected to take place any day, now and will trigger a $15 million of regulatory milestones for the company.
We believe this market could potentially be unimportant revenue driver for Danielle solicitation sales.
We have also witnessed this quarter's encouraging progress among our partners covering Latam and eastern Europe and.
In Israel to support the potential and continuing to work on widening our outreach subject to regulatory approval and the relevant areas.
We ended the third quarter of 2022 with $114 5 million in cash.
With a strong runway and a robust pipeline and we believe we are well positioned to continue our efforts to deliver further clinical and commercial milestones.
Support the continued commercialization of Danielle Jones, and advanced our program, including the Revolutionary Sada technology cost structure, we are comfortable with our current financial position, which Bo kruse.
I'll now elaborate on in his financial update thank you both.
Thank you Thomas good afternoon every.
Body.
Our net revenues of $12 million and $33 8 million for the third quarter 'twenty to 'twenty two and nine months ended September 32022 represented increases of 40, and 36, 34%, respectively over $9 million and $25 $3 million in the comparable periods for 'twenty one.
Net revenues in the nine months ended September 30 is 2022.
Included $1 million of license revenue compared to $2 million worth of license revenue in the corresponding period in 2021.
<unk> product revenues for the quarter and nine months ended September 30 is 2022.
One 5 million and $32 8 million, respectively, which represented increases of 40, and 41% respectively over the corresponding period in 2021.
<unk> product revenues of 12, and a half million for the third quarter.
2022 increased by 28% compared to the second quarter of 2022, where we reported 10 years that product revenues of $9 8 million.
This was primarily.
Driven by an increase in.
U U S patients in the third quarter of 2022.
Moving to operating expenses, our R&D expenses decreased by <unk> 7 million.
$22 4 million for the quarter ended September 30th 2022 the <unk>.
Decrease with fixed decreased spending for clinical trials, partially offset by increased cost for outsourced manufacturing.
Our R&D expenses increased by $7 3 million to $71 8 million during the nine months ended September 32022, compared to the prior year period.
This increase reflects an increase in outsourced manufacturing and increased personnel costs dedicated to our advancement of Danielle burd them up on the Sada constructs.
SG&A expenses decreased $5 4 million to $13 6 million for the three months ended September 32022 compares.
Compared to 14 million for the three months ended September 30 years 2021.
The decrease in SG&A expenses was primarily the result of one $5 million increase in salary and stock based compensation expenses, partially offset by increased costs related to the commercialization of them yourself.
Our SG&A expenses increased by $10 7 million to $50 1 million for the nine months ended September 30 years 'twenty to 'twenty two the increase in SG&A expenses was primarily attributable to an $8 9 billion dollar increase in severance and share based compensation expense related to our format.
Chief Executive Officer, and the nine months ended September 30 is 2022 as compared to the comparable period in 2021.
And to a lesser extent the commercialization Austin, yes.
We reported a net loss for the quarter ended September 30th 'twenty to 'twenty two.
Of 27, and a half million or sixth Street Pip.
Basic and diluted compared to a net loss of $28 9 billion or 66 cents per share basic and diluted for the quarter ended September 30 into 2020 one.
The decrease in net loss was primarily driven by the gross profit impact of increased revenues.
Additionally, we reported a net loss for the nine months ended September 30th 2022.
$96 7 million or $2 21 per share basic and diluted compared to a net loss of $18 4 million or <unk> 43 per share basic and diluted for the nine months ended September 32, 2021.
Net loss in the nine months ended September 30th 'twenty 'twenty. One included a $62 million net gain from the sale of all of that he has a priority review voucher after sharing 40% of the net proceeds from the sale would have presque that's part of the license agreement.
The decrease in earnings in the nine months ended September 30th 'twenty 'twenty. Two also reflects the one time impact of contractual severance related benefits for all of our survey for our former Chief Executive Officer and increased R&D expenses process noted above partially offset by the favorable impact.
Daniels is growing revenue.
As Thomas mentioned, we ended the third quarter of 2022 with a cash position of 114, and a half billion compared to $181 6 billion at year end 2021.
The decrease of six to seven 1 million year to date, and a decrease of $19 2 million compared to the second quarter cash balance reflects that our cash been slowed by about 20% during the third quarter of 2022 as compared to the year to date average in the first half of the.
Yeah.
Our cash burn essentially dropped from $24 9 million in the first quarter to 23 1 million in the second quarter and down $19 2 million in the third quarter.
Consistent with prior quarters, we believe that our current cash position is sufficient to fund our current operations.
2024, and provides a solid financial runway to support our commercial activities now highlighted pipeline programs.
Yeah.
As we noted in the prior quarter the underlying assumptions for this guidance are important to understand.
We did not include any assumptions for the net proceeds that would be received on a potential receipts from sales of <unk> if approved in.
Additionally, no new partnerships or the new BD related sources of income are included in the assumptions any potential embed them up revenues. Upon approval are also excluded.
Product revenues I assume to increase by 10% each year for the purpose of this analysis of runway and we assume.
Regulatory license fee.
<unk> approval in China.
We hope to see a higher growth rate puts any I'll say in the years to come.
As we execute our refined commercial strategy and continue to deliver clinical data that could potentially lead to expanded indications and greater physician adoption.
In terms of development activities, we have assumed the current programs would be advanced at our own expense and no new programs I assumed at this point.
This financial runway forecast benefits from the fact that most of the expenses related to pivotal trials post marketing commitments and regulatory activities are behind us at this point for the purpose of the guidance we have not assumed any.
Equity and debt offerings of borrowings.
Also as previously disclosed we continue to expect operating expenses of 160 to 267 million and a total cash burn of $78 million to $83 million for the full year 2022.
We view our operating expenses based on that final FDA feedback on the impaired them, a BLA and expect no adverse impact on our cash runway.
We believe <unk> remain in a healthy financial position to execute our strategic mission of priorities and to support the delivery of multiple milestones.
This concludes the financial update and I'll now turn the call back to you Thomas.
Okay. Thank you both.
This marks the end of today's prepared remarks.
Operator, we can now open up for Q&A, if you want to go through the process. Please.
We will now begin the question and answer session to ask a 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 to.
To withdraw your question. Please press Star then two.
The first question comes from Alec Stranahan of Bank of America. Please go ahead.
Hey, guys. Thanks for taking our questions just a couple from us.
First maybe for pursue looking at Daniels and the third quarter.
Encouraging increases over the same time last year of 40%.
And something like a 20% 25% growth from <unk>.
Would you say that most of the demand in <unk> was organic just trying to get a sense of the current and expected near term demand.
And then secondly on the Burton.
Willing in the EU.
I think the marketing authorization was filed last year is the plan still to seek approval in the EU or will you wait for the Fda's decision before deciding either way on any other color on the stage and the regulatory process are meaningful differences between your FTAA and in my conversations would be helpful. Thanks.
Thanks, Alex.
In terms of the growth that we saw in third quarter. We also were very happy to see that I think it was organic I think the business fundamentals are solid and the new programs that we put in place in terms of patient finding.
The focus of the team on the priority accounts.
Taking route and so we anticipate that to continue.
In terms of a solid foundation that wasn't just on a whim. So.
Uh huh.
To see that.
In terms of Onboarding them.
Thomas would you like to handle that or.
Yeah, Alex So we we have to our explanation meeting.
With with EMA.
Hum.
Has raised some major objections.
Along the lines of P. F D a.
As we saw at T O that.
So we are waiting for their opinion to come out.
<unk>.
Later, this month or maybe in December depending on the schedule out there meeting.
Oh, that's a final opinion.
Okay makes sense, thanks for the color.
Yes.
The next question.
It comes from at Sir there out of being of BMO. Please go ahead.
Great. Thanks for taking our question congrats on the details of progress here just wanted to get a sense on sort of the.
Frontline indication for Daniels.
Progress there and when we could potentially.
See incremental data to support that drug's profile and the <unk>.
Frontline setting and then maybe.
And similar question for us yield so sarcoma way, we could see some data that supports the progress at two pivotal is next year. Thank you.
Yeah. So so we have.
We are waiting for a M. S case trial 16, 16, 43 frontline trials will read out.
Potentially be be submitted.
And and also we have yesterday sarcoma trial, we have a single center trial at M. S. K, what we have.
<unk> I believe 46 out of 49 patients. So when that's fully recruited that will read out too.
And then we are planning to file or not and being in the first quarter of 2023 four.
Phase III pivotal multi center trial global trial for Sysco Com.
Got it thank you.
Yeah.
The next question comes from Bill <unk> of Canaccord Genuity.
Hey, good afternoon. Thanks for the question so for umbrella Mad if.
If somehow the FDA were to decide that give me unmet need.
To allow this on the market do you think that it would you'd still have an impact commercial.
Message to support the drug.
And if the decision goes the other way.
What sort of scenario planning do you have you done in terms of.
Potentially further studying the profile of the drug to to generate some some supportive data.
Thanks.
I think we are you know.
Worked with his truck.
For a long time, and we believe in its overall impact on O S. A and I think we are very committed to P. S. K.
Approve the drug.
And give us some PMI pmc's.
That's it.
We are right now waiting for the response from the FDA as we've learned from that responds as well no matter what way. It goes so I think at this point.
We are in a wait and see mode in terms of what's going to happen going forward with the program.
This would be a negative outcome.
Okay.
Daniels of launch I know there was some good commentary around the patient funnel.
But what can you help us quantify.
Maybe the increase in patients in the funnel and the lag time from patient entering the funnel to becoming potential commercial patients and.
Your confidence in the conversion rate between filling the funnel and getting those patients on.
Drugs, just really anything to to read through to potential.
Final revenue launch metrics.
Sure well I think that would be.
Right now the team.
Is a funnel that they have been tracking we have formal systems around and in terms of the conversion rates.
It can take anywhere from six to 12 months for a patient can become relapsed or refractory <unk>.
I don't really want to give away our numbers and percentages just from a competitive standpoint, but.
In terms of conversion.
We we are seeing a number of those patients converting over.
And it's a leading indicator for us are the number of enrollments in our hub, which is a mandatory hub.
Provides ease of reimbursement support services and we have consistently had the highest number of enrollments in the home of 18 to 19 per month for the past couple of months.
So I think that I looked at that as a leading indicator of.
Those are patients who are going through to make sure that you know they have insurance coverage et cetera. So there they're highly qualified their queuing up to on the product.
And.
I think to me that is it.
Robust leading indicator and.
And we continue to get the new region. You know every month from a variety of sources that the Pip and follows.
So at this point.
I think that plus the the core base of 43 key customers and continuing to gain formulary experience and now repeat experience.
Our depth of experience is growing outside of Sun catering.
And 40% of our prescribers have treated more patients. So I think that the levers of growth come not only from the patient funnel.
But getting more confidence and experience with the product and you know, we even re challenging some of our patients with another of course of Daniel's that now almost two years post launch.
Okay.
Alright, Thank you very much.
Mhm.
The next question comes from Tessa Romero of J P. Morgan. Please go ahead.
Hey, guys. Thanks, so much for taking our question.
So the first one.
Uh huh.
So the compare sequentially from <unk> to <unk>.
In the U S.
Are you able to disclose what the gross cannot y <unk>.
Just curious any thoughts on why the vials sold from S. K.
<unk> outpacing that act.
Right.
We are expanding our growing of your centers here.
Thomas I'm, assuming you want me to take that [laughter]. So I'm not sure if I understand your question on the line from three Q.
Q2 on the vials sold.
But we had almost a 30% increase.
And I think the right yeah, sorry, so you're you're you're basically talking about a 28% quarter over quarter revenue increase, but what I'm trying to understand is that.
And with any fluctuation in gross and at that rate that kind of impacting kind of your vials sold them.
Yes.
Yeah, not not tremendously.
Gross to net I mean, Bo you can comment I mean, the gross to net was.
Similar to Q2 right.
The same level as it has been.
Exactly.
Would you except for minor adjustment off some.
Medicaid accruals, but but.
Gross tomatoes.
Within a couple of percent we saw in the prior quarter, its actually improved a little bit but what it is.
It's essentially the same.
Okay. Okay. That's helpful and then as a follow up here I know, we're coming up on the end of the year, how do you anticipate providing guidance for 2023.
Could we see that maybe a small investor conference in early January is kind of forcing you call them more likely.
Yeah.
Yeah, but when do you want to give guidance I think.
We're still a little bit on decided of course I'm going to go through our usual procedures. We would have our budget approved in December so we would know but but.
The exact timing of when it would be publicly available ease a little bit uncertain at this point.
Okay, Okay and last one if I can I'm just curious sky in the event of a complete response letter.
For unburden them, that's not why do you see as the path forward for that.
Program any indication, where you help progress any indication or do you think theres still a path forward here in the U S.
That's a good question I think I think we'd like to wait and see what that complete response letter would entail what kind of comments they would have in it.
But I do believe you know that could be a risk to that program depending on the offer.
Okay. Thanks, so much for taking our question.
As a reminder, if you have a question please press star one.
Next question comes from John from Joseph Thome of Cowen and company. Please go ahead.
Hi, there good afternoon, and thank you for taking my questions. Maybe first one on <unk> can you just remind us where you stand in terms of progress with D. IPG in DSR C T and discontinued development in these indications kind of dip.
It depends on the FTE outcome in I'd be with CNS alone.
So are you guys all see cheese, a very small indication that that.
It's at a phase II trial of that Miss Kay.
Enrolling a few patients.
P T.
Close the phase one trial and we were going to change the plan is to change from $1 24 to 134 131 iodine.
Obviously, we need to.
Take a deep breath and see what the FDA decides to do and reevaluate on.
Unfortunately as a whole.
And see where we end up after we get a response from the FDA.
Okay sounds good and then just a follow up on the prepared remarks can you remind us what you said your assumptions were for Daniels of growth in your cash burn I think you said, maybe 10% and is this sort of a formal guidance or how should we think about that does that include any movement earlier in the treatment line.
Or the implementation of the new infusion political.
Yeah.
The 10% and I'm very happy with you're asking that question the 10%.
Applied only for a conservative calculation off the cash runway of course, we hope to see a completely different growth rate in the coming quarters in the coming years. So it's just a matter of.
Estimating our runway in a way where and.
When nobody is overly optimistic.
So so it's not constituting any kind of guidance I'm, just laying out the conservative assumption used for the specific information.
Okay. That's helpful. Thank you very much.
The next question comes from Sebastian Vanda shoot of Compounding company. Please go ahead Ed.
Hi, guys. Thanks for taking my questions.
Kombucha them up can you maybe expand on what the.
Current expenditure, if R&D costs for older and beat them up programs combined.
And then can you maybe also just on guidance when we can expect data for the Bispecific programs and I, maybe I missed it but also for the Sada program. Thank you.
Bo do you want to address the first R&D spend question Yeah, Yeah, Yeah, it's the best and I'd be happy to.
Yeah.
I'm not I will not provide a specific number for you we are not reporting pip.
Program.
Thanks, Tom.
Reporting purposes, where we separate the.
The bears.
So what sort of activities conducted.
But of course historically.
Our bedroom up has been our largest program.
But as you've seen from our statements and the overall R&D spending is quite modest and even though we have taken this route to registration we had invested nowhere.
Some that you have seen them.
These are statistics for the oncology programs with took this program over with certain data set from in this case so the overall.
Investment is it's actually relatively modest, especially when you consider that.
Would you be route to registration.
Okay.
And then to address the bi specific data. So we just started.
Patrick.
The Pizza all program with our CD 33 C III with open up.
Two centers out of.
17, there are another four centers opening shortly so we've only dose two patients so far so that's going to take a while.
Regarding sada as I as I said you know.
Due to the pharmacokinetics and the imaging it's.
It's possible to Derisk. These programs quite early on so we are planning a pending on how it goes with dosing patients coming out.
With some data as soon as possible and hopefully some time in.
And 2023 Oh before.
Yeah.
Okay. Thanks, so much.
Yes.
The next question comes from Edward Malarkey of Guggenheim. Please go ahead.
Hi, Thank you for taking my question. This is Edward on for Charles and our apologies my face when he already asked this I got cut out for a bit but just maybe for the sada.
Platform I know you got it just starting dosing patients by the end of the year, just maybe what what remains there and also for beyond G. D. Two startup programs just for.
Just the cadence of <unk> four for other sort of targets and maybe some color on the potential targets I think in the past you've talked about sort of hurt you and maybe be seven next year, if I'm not mistaken. So any color you could get there would be great. Thank you.
Yes.
So right now.
We are opening sites as we speak.
So that's the gating factor for dosing patients.
And we appreciate on Thanksgiving is in between but we hope to dose the first patient in December .
Regarding additional ind's.
We're having an R&D day coming up December 14th and I think we are excited to hold that.
An D day with focus on the <unk>.
And then you also so hopefully we will be able to.
Second I see.
By that date.
Regarding partnerships, we are very very close to in patient data at this point in time.
So I think a validation in terms of Kansas is the next milestone in order to further validate this platform with third parties, we are constantly working with her.
All the companies and we are also looking at failed.
Failed targets that we could potentially optimize on a collaboration research cooperation with the Sada platform.
I hope that answers your question.
Yes.
Oh.
Okay.
Yeah.
At this point it seems that there are no further questions I will now turn the call back over to Thomas Gad for closing remarks.
Yeah. Thank you very much.
This this and this call today. Thank you for your questions.
At the time with us today on the call I have a great day.
The conference has now concluded. Thank you for attending today's presentation you may now disconnect.