Q4 2022 Innate Pharma SA Earnings Call
Speaker 1: everyone to the Innate Pharma full year 2022 financial results conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session.
Speaker 1: If you would like to ask a question at that time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, again press star one. Thank you.
Speaker 1: Now my pleasure to turn today's call over to Mr. Henry Wheeler, Vice President of Investor Relations and Communications. Sir, please go ahead.
Speaker 2: Thank you. Good morning, good afternoon and welcome everyone. This morning, Innate issued a press release providing a business update for our full year 22 results. We look forward to highlighting the progress made during the year as well as addressing future goals and milestones. The press release and today's presentation are both available on the IIS Resources section at i mighty.org.uk.
Speaker 2: the website.
Speaker 2: On slide 2 before we start, I would like to remind you that we will be making forward-looking statements regarding the financial outlook in addition to regulatory and product plan development. These statements are subject to risks and uncertainties that may cause actual results to differ from those forecasted.
Speaker 2: Turning to slide three, on today's call we will be joined by Monda Majoubi, a Chief Executive Officer who will then hand over to Joyce and Cara Connell, EVP and Chief Medical Officer who will cover updates on AcutaMap and Monolizumab. Janice Morrell, EVP of Business Development and Product portfolio Strategy.
Speaker 2: We'll then cover some updates on partnering and Ankit, who will then turn the call over to our CFO Frederick Lombard.
Speaker 2: for an update on our financials. Monda, I now hand the call over to you.
Speaker 2: Sorry, Monda. I think you might be on mute.
Speaker 3: Sorry, I'm on mute. Thank you Henry.
Speaker 3: Thank you, Henry. Please move to slide number four.
Speaker 4: Let me start by reminding you our strategy.
Speaker 4: As an early clinical stage company, our business model centers around three key priorities where we look to derive value from our early R&D efforts through later stage partnership where it makes sense to do so. Our ambition is to develop innovative drug candidates that contribute to transform cancer care.
Speaker 4: for a strong pipeline of differentiated antibodies.
Speaker 4: First, we look to create near-term value driven by our lead proprietary product candidate like Ritamab, which is, as you know, in development for TCL infor maps. With final CTCL readouts expected happening in the second half of this year, early PTCL data are underway.
Speaker 4: Second, we continue to fuel our pipeline and create longer term value by leveraging our antibody engineering capabilities to develop innovative molecules with a primary focus on our multi-specific NCASEL Engager platform called MCAT.
Speaker 4: As we develop targeted antibodies for our MCAT platform, we recognize some of these binders may be more applicable for ADC technology and we look to further reinforce our expertise in this setting. As we develop Tasn Track using virtual interfaces with Prescott and DukeAlljoy.com open costs
Speaker 4: Last but not least, we are building a stronger and sustainable foundation for our business with various partnerships across industry and academia. Here our AstraZeneca partnership with Mona Lizumab is continuing in early stage lung cancer. Our focus remains to ensure that changing arts and labor will help keepbo muscle and
Speaker 4: to leverage the value of our products as much as possible.
Speaker 4: We want to ensure if we can gain valuable competencies via partner agreement, we will consider that in our development plans for our products. This will further validate our science and offer capital that we can reinvest to advance our early R&D engine.
Speaker 4: Please move to slide number 5.
Speaker 4: 2022 was a year of clinical and partnership validation for ENAID where we continue to deliver on our strategic objectives and we have demonstrated the steady progress across all key strategic pillars as can be seen on this slide.
Speaker 4: Starting with Lekitha Mabu presented proof of concept preliminary phase 2 data in heavily pre-treated Cesare syndrome and further, he posted phase 2 microtids from the latest data in the AOTC meeting endoplasmic chair.
Speaker 4: PTCL phase 1B and phase 2 signal seeking trials are well underway.
Speaker 4: In the R&D pipeline section, we were very pleased to see Sanofi find a second deal on our Ankit program. As the Phase 1 for APS6101 sees good progress, APS6401 had the target selected.
Speaker 4: We are also pleased to share data on our TD20 Property NCAT program which continues toward IND-enabled studies.
Speaker 4: As we turn to Mona Lajimab, we are very pleased to see our partner, StravaZeneca, progress to PSE.
Speaker 4: with the PACHIG-9 trial in the stage 3 unresectable non-small cell lung cancer and the further phase 2 study NEOCOS-2 in the new accurate setting of non-small cell lung cancer.
Speaker 4: Finally, our anti-CD39, APH52.1 is also starting a phase 2 with AstraZeneca and the same setting of adjuvant lung cancer.
Speaker 4: Before I hand over to Joyce, I want to thank you for joining us.
Speaker 4: On slide six is an overview of our pipeline.
Speaker 4: which shows how we continue to translate our science into a robust portfolio of proprietary and personal assets.
Speaker 4: It also illustrates how we are a good student against our strategy with our lead proprietary assets like Acutamat, NCAT and the Immersion ADCs.
Speaker 4: I supported my passionate products with AstraZeneca and Sanofi from late to early stage development.
Speaker 4: We anticipate a series of potential clinical data readouts and catalysts in the upcoming couple of years as our R&D engine looks to leverage our scientific know-how to create sustainable business.
Speaker 4: I would like now to pass the call over to Joicen who will review the progress made with our portfolio starting with Lacuna Mab, our most advanced proprietary asset. Joicen please.
Speaker 5: Thank you, Munder.
Speaker 6: On slide 7, let me summarize the progress we are making with Crudamab.
Speaker 6: We are pursuing a faster market strategy for LacunaMAB in the niche setting of Cesare Syndrome, LacunaMAB was granted US Fast Track Designation in EU Prime Designation in 2020.
Speaker 6: We have expanded past Sesri syndrome to mycosis fungalities where we have been seen encouraging preliminary data from our Phase II trial in both cohorts.
Speaker 6: For the Caesare syndrome and microsies fungalities, enrollment is on track with final data due for both cohorts in the second half of 2023.
Speaker 6: Finally, we are continuing to enroll into peripheral T cell lymphoma in the Phase 1b and to monotherapy and combination trials in the relapse setting with initial data expected later this year. We are continuing to enroll into peripheral T cell lymphoma in the Phase 1b and to monotherapy
Speaker 6: On slide 8, let me remind you the design of the telemat file.
Cohort one is recruiting Cesare syndrome patients that could potentially be a pivotal cohort.
For mycosis fangueides, we have cohorts two and three, where we are testing the hypothesis of non-expressors and expressors of Q3DL2 using the frozen companion diagnostic assay.
We now have an all-comers cohort where we will further evaluate our diagnostic assay.
On slide 9, we have the data published at the ASH Annual Congress 2022 in December .
The presentation shows that in heavily pretreated post-mogamilizumab patient pool with a median prior line of therapy of 6 and 10.9 months of median follow-up.
The ORR in the ITT population was 21.6%, with an ORR of 35.1% in the skin and 37.8% in the blood.
It was very encouraging to see activity replicated in the larger phase two trial in these late line patients.
A favorable safety profile was also seen. We look forward to further interactions with the regulators as we get the final data later this year. Slide 10 summarizes the preliminary cohort 2 and 3 data in mycosis fungeurides presented at EORTC in September last year.
As a reminder, from data presented previously, as expected, our scientific hypothesis was confirmed in cohort two. High global response rates in comparison to the benchmark were seen and is not expressed in cohort, a low global response rate.
At the EORTC Congress last year, in this data presentation in the Q3-DL2 Expressing Cohort 2, we were encouraged to see that these late-line patients with a median of four prior treatments, Laxinumab demonstrated a 28.6% ORR and six responses.
We are particularly encouraged by the responses in the skin where we saw 57.1 percent ORR and 12 responses. We are also encouraged by the responses in the skin where we saw 57.1 percent ORR and
A reminder that skin response is an important response in this skin-based disease.
As many of you know, a clarification of the guidelines for CTCL have been released this year and we will be issuing more guidance on our strategy based on these new criteria.
In addition, we continue to engage with the FDA as per our FDA Fast-Track designation.
On slide 11, I would like to update you on Monolizumab. To remind you, Monolizumab is an anti-MKD2A, which acts upon the checkpoint pathway to potentiate NK cell activation that we have licensed to AstraZeneca for oncology.
On this slide you can see an overview of the late stage development plan for normalize lab in lung cancer.
Based on the AstraZeneca-sponsored Phase II COAST data, AstraZeneca commenced Pacific Nine, a Phase III trial, evaluating the combination of either Monolizumab or Eleculumab plus Dervalumab in the unreceptible Stage III non-small cell lung cancer study, who have not progressed after concurrent chemo radiation therapy.
For the Phase II COAST Study, the three arms evaluated the combinations of dervalumab plus monolismab and dervalumab plus ehrlichiaabab.
AstraZeneca is anti-CD73.
As published in the Journal of Clinical Oncology by AstraZeneca, after a median follow-up of 11.5 months, the results of an interim analysis showed a hazard ratio of 0.42 for dervalumab cosmonolizumab versus javialumab alone.
The results also showed an increase in the primary endpoint of confirmed ORR for dervalumab plus monolizumab over dervalumab alone of 36% versus 18% respectively. The AstraZeneca sponsored Neocost 2 study is also underway in an earlier...
lung cancer setting, evaluating monolizumab and divilumab with chemo in neoadjuvant non-spall cell lung cancer patients.
We look forward to further updates from these studies from AstraZeneca.
I will now hand over to Yanis to cover our AV relationship on Learning with an App and the NCAT platform.
Yes.
Thank you, Jason. So let's move on slide 12 where there is a summary of our monolysium agreement with AstraZeneca.
To date, we have cashed in 450 million, including 50 million last year with the start of the Pacific 9 phase 3 prior lung cancer.
The total milestone package sign was up to 1.275 billion with royalty on net sales outside Europe plus 50% of the profit share in Europe with the option to co-promote the drug in this region.
We look forward to continuing our relationship with AstraZeneca and Monaligimab, as well as on our anti-CD39 IPH5201.
Indeed, ITAB 5201 has moved into phase 2 in early lung cancer with a MATIS trial in a new adjuvant in adjuvant setting which trigger a 5 million milestone payment last year.
Now, moving to slide 13, I wanted to highlight our proprietary multispecific MKC longager platform that we call NCAT. NCAT standing for antibody-based MKC longager therapeutics.
NCAT is a versatile, fit for purpose technology made of various building blocks that is creating an entirely new class of trial or technical specific engages to induce synthetic immunity against cancer.
This technology platform, which is leveraging our scientific expertise in the MKCEL space, will be an engine for our pipeline creating value via multiple direct candidates arresting multiple tumor targets.
The backbone of this NKED platform is based on the unique engagement of the activating MKCEL receptors, MKP46 and MKP16 on MKCELS, which allows for the optimal harnessing of the MKCEL effector functions, which can be further increased by the addition of high interlinking two variants that induce their proliferation.
Now, moving to slide 14, I wanted to share our enthusiasm for this platform in the context of the growing interest in the entire space.
Our expertise in antibody engineering has enabled us to develop this platform which generates NCAT molecules designed to engage efficiently the patient's own NK cells against its own tumor.
On the left panel, you can see the detailed mechanism of action of the ANCT, which we have recently published in a couple of articles in high impact factor journals.
As shown in our natural biotechnology paper describing the joint work with Sanofi on the CD123 NkCEL engager, the engagement of NkP46 and CD16 on NkCEL triggers potent antigen-dependent killing of the tumor. 11 years after NkP46 did occur, interest of New swipe came into light, and about 9 months after the discovery NkP46 was ALS.
as well as production of key cytokines for the un-substimal response, but without systemic cytokine release, which is a major, though limiting factor for T-cell engagers. In addition, as shown in our cell report medicine paper, the addition of interlocking two variants into an NCAT induce a potential NK-cell proliferation within the tumor microenvironment.
increasing therefore the number of
Overall, this platform demonstrates compelling preclinical activity as evidence in these two publications. In the video panel, you can see the most recent presentation we had at the ASH annual meeting in December , some with our partner Sanofi.
We had a trial in ProLise poster for the CD123 targeted IPF 5101, also called SAR-579, which started phase 1 trial in December 2021.
Then, we showcased our technical data, again with Sanofi, on the BCMA Nk-Syl-Ongager, showing strong efficacy against multiple neonatal tumors, again, without inducing systemic cytokine quantity.
This molecule called IPF6401 or SAR-PSI14 is moving through IND and having studies.
Finally, we presented at this meeting the preclinical characterization of our proprietary recombinant IPH 6501 which
Lastly, on the right, you can see the overall growing pipeline of VONCAT molecules we have, with Sanofi having licensed free molecules and having an option on two other undisclosed.
Our most advanced proprietary ANKED, IPH6501, we just talked about, is heading toward the IMG this year.
We have also other clinical targets which we hope to provide some updates in due course.
Now, moving to slide 15, you can see a summary of our Sanofi partnership.
In 2016 we signed an initial agreement for two Ancat molecules worth up to 400 million euro in milestone among which we received to date 14 million.
Both programs have progressed with IPS61.1 in phase 1 for 15 months now and IPS64.1 progressing towards INV. You can take a closer look at leftist PUR disguise in 2020 in CPU Match ability experience, the official plugin of parallels on the
In December last year we signed a further agreement whereby Sanofi licensed the IPL62 MCAT program targeting B7H3 which is a solid sugar target antigen with an option on two other targets. Taking action at NIPS & although this is a discussion above all else our team
Sanofi paid 25 million euro upfront
with a total of 1.35 billion in potential milestones and reality.
This now takes the total milestone package of our partnership with Sanofi to up to 1.75 billion plus royalty.
Building on our existing and successful relationship, we look forward to continuing working with the Sanofi RMD team as we bring this molecule to
I will now hand over to Frederic to cover our financial update.
Thank you Yannickes and good day everyone. Moving to the finance slide 16, I will start with one of our key metrics as usual, our cash position. Our cash and cash equivalents amounted to 136.6 million euro as of December 31st, 2018.
managing our resources so that we can best capitalize on progress on data readouts to explore development pathways in different indications.
We believe this approach ensures that we remain in position to strategically invest in our vision for a night.
Now, going into the P&L, I will only comment on the main and most significant lines and you have very detailed comments in the appendix of the press release that you can refer to for more information. changed a little we're looking together with asked the committee to open up and via video
I'll start with our revenue and other income, which amounted to €57.7 million. It mainly resulted from revenues from collaboration and licensing agreements and governmental fundings.
The revenue line is characterized by the spreading of the upfront and opt-in payments received from AstraZeneca, from ManaliLimaar and from Sunilthi.
which I remind you are recognized on the basis of the percentage of completion of the work performed by the company.
which I remind you are recognized on the basis of the percentage of completion of the work performed by the company. I also remind you this has limited impact on cash.
Operating expenses amounted to €74.1 million, an increase of 1% compared to 2021.
AMD expenses were 51.7 million euro an increase of 10% compared to 2021.
The increase was mainly due to clinical and non-clinical research and development expenses. We took a full impairment on the Abdo-Alimab intangible asset of €41 million, which I remind you is a non-cash expense.
the development of the molecule in the bulus fen-pemphigoid indication in inflammation. To recap, we have a strong cash and cash equivalent position with 136.6 million euro at the end of the year, with 25 million euro from Sanofi still to add to this.
We estimate that we have enough cash to fund planned operations to at least MIN 2025.
I will now turn to Monde for summary of the catalyst and close.
Thank you, Fredrik.
As you can see on slide 17, we are really working diligently to execute across all our statistical areas and we believe that we are laying the foundation to drive near-long-term value.
Looking at our clinical program first, we expect to achieve a number of milestones over the next two years. As you heard from Joyce, our Phase II TeleMACH study for LacunaMap continues to progress with final data due at the end of this year. In addition, we look forward to initial PTCL data later in the year.
In parallel, we continue to develop our NCAT technology platform, further reinforced by our partners at Ofie, and we are very encouraged by the clinical results from the next generation of in-case-sales engagement, and the progress and the clinic.
We believe that this represents a natural evolution of our platform with data presented at conferences last year. For Mona Leszouma, the lung cancer trials are in the way and we continue to advance the adenosine pathway agents in the clinic where the phase 2 for APH5201 in early not so much leg wealth health unit as a fully Roz Thank you.
Let's move to the conclusion slide now.
Let's move to the conclusion slide now. Slide 18 please.
As you can tell, we continue our exciting journey at Innate. We look to build our business to create value for patients and stakeholders. In summary, we have positioned Innate Pharma for the future with our strategy and made meaningful progress throughout the year today across all three strategic pillars.
With our R&D engine and antibody engineering expertise, our science is producing more candidates to progress to the clinic. Some we are developing alone and some partnered. We have a focus on our NCIS and Engager platform, NCAT, as well as on ADCs.
In parallel, our late-stage portfolio continues to advance as we look to maximize the late-stage portfolio assets of LakutaMap and Monologima.
Number two, our partnership strategy continues to evolve with Sanofi doubling down on the NCAT platform with the second deal announced in December last year and several programs now in early development. In later stage development, we continue to work with AstraZeneca for Monologemart and Olympi
Last but not least, we have carefully managed our also so we can continue a sustainable business to invest in progressing our pipeline. I'm very pleased that we continue to have a strong cash position with a runway into mid-2025. Collectively, we are driving value across our business and ultimately advancing our goal.
to deliver innovative medicines to patients. We look forward to keeping you updated on our progress. That concludes our prepared remarks. We will now open the call to questions.
At this time I would like to remind everyone in order to ask a question press star followed by the number one on your telephone keypad.
Your first question comes from the line of Yigal Notchum-Wolwitz with City. Your line is open.
Hi team, this is Carly on for Yigal. Thanks so much for taking our questions. We have two. First on the Cuda map, can you elaborate on how you're thinking about the registrational pathway for mycosis fungoitis and just what you expect the comparator would be for a futureJohnnye's, thank you for containing those um no questions, Myiker.
if you can comment. Thank you.
Thank you, Corey, for the question. I'm going to maybe ask Joicen to start with the LaquitaMAPP registration pathway and then hand over to Yannes to provide an update on where we are with the ADC technology platform. So maybe, Joicen, if you can briefly remind…
the goal power strategy for LeCoutat-Maub in crutin-STS-L-M-4 overall in Cesare in particular.
So definitely so. Just as a reminder, the telemax study.
as Cohort 1, which is with Caesare syndrome, and that itself can serve as a pivotal cohort. When looking at the registration strategy for mycosis fungoides, we're keeping all our options open, including a complete registration trial of mycosis fungoides alone or even a combination of mycosis fungoides with Caesare syndrome. We're ensuring that we're continuing our conversations with the community.
with regulators to make sure we are aligned with them in regards to the comparator as well as the design of the study.
to make sure we are aligned with them in regards to the comparator as well as the design of the study. Eunice? Eunice?
Thank you, Joseph. Yanis, on the ADC. On the second question, we did have an ADC program called IPH4501, for which we have selected a development candidate and that we are moving forward. We will provide a...
Obviously more updates later in the year. Thank you, Alistair. Maybe let me anticipate any further questions. As I said in my introductory remarks, we are in any case sales.
oriented and driven company. The NCAT platform technology is the center of our strategy, but as we develop targeted antibody, we develop binders and some of those binders are more fit for an NCAT type of antibodies. Others could be used for other technology, in particular bease SE logging...
ADC technology and that's how we have been opportunistic in trying to develop those binders. So we will provide more updates in progress and certainly during the upcoming months. Thank you. Next question. Who is the most diverse worldvideo player gridsAbaraG Who has working to make videos more??? Oh.
Your next question is from the line of Dana Krivosch with SVB Securities. Your line is open.
Thank you. I also have two questions. The first one is on CICERI, Likudinab, and the TeleMEX study. You mentioned that there have been in the community some changes in the guidance for how outcomes are measured in CTCL. I wonder if you could describe the changes.
and what options you have with telemat given those changes that you're deciding and discussing with regulators. And then the second question is one on the ANCAT. I noticed that the BCMA program that Sanofi had is a mix of ANCAT and their technology crossodial.
I wonder if you could describe what CrossReVile is, and is there backing for sharing? Could you use that technology in your own AnCAT? Could you anticipate them using that in their other programs?
Sure, thank you, Dan. Same distribution to question one, the first one for Joyce, and so you can update on the ERTC guidance for measurement of the anti-tumor activity in ketestines and implement, and then Yanis provide an answer on the DCMA and patients go back to the ERTC training.
aspects of the guidance that are different, but number two is also our strategy going forward in how we're going to approach the guidance, not only internally looking at the responses, but also in discussions with the regulators.
Okay.
Okay. Yandere?
Yes, hello Dana. Yeah, the BCMA candidate is actually the molecular format is using what Sanofi is calling Crozodil, which is the commercial name for what you can find in the literature as CODV for crossover variable domain. So this is a, I would say, a very good example of a very good example of a very good example
The difference between ANKET and this is that the special rearrangement of the domains is a bit different. What we call ANKET at CNAIDS are our pro-creatory molecular formats plus our MCP46 pro-creatory binders but we can actually plug in this...
NCP46 binder in our own proprietary format, but also on others. We can tell them in more generic format including this CoDV from Sanofi.
Okay, now let's address our question.
Great. Thank you very much.
Thank you.
Your next question is from the line of Arthur He with HCW. Your line is open.
Hi everyone, this is Arthur on the floor. Thanks for taking my question. I had one question regarding the good math. So for the...
The PCTL study, could you give us more color on the inclusion and exclusion criteria for the monotherapy you guys sponsored and the combo therapy? Is there any difference in terms of that?
So, nothing really, I have to say, unique to this trial, but I'll let Joseph maybe remind you the criteria. As you know, there are two trials. There is a phase 1 B trial testing of lacutamab monotherapy in a relapsed refractory PTCL patient, and there is a second trial which is in collaboration with the patient.
The monotherapy trial specifically is in care through DL2 positive patients. It is looking at relapsed-reclaratory patients with no maxillar lines of therapy. So it is a general signal-seeking trial and looking at the different subtypes also within it.
How about for the combo study, is there any difference between the patients?
Yes, the combo study is also, as Monda had mentioned, the combo study has a comparator arm, so it does have a gem-cytamine-oxalicotin comparator arm in addition to the combination arm. And then, after this, we are also recruiting K3-DL2 positives and then…
enrolling all relapsed refractories with no maximum lines of theory.
Thanks for that. My second question is, first of all, congrats on the expanded collaboration with TANFC.
My question is for those two additional targets. Are there any specific targets for the Tetra specific?
We got this question previously when we announced the deal with Sanofi. You can clarify what is disclosed on the two options.
Thank you for the question to clarify this point. Actually, in our deal with Sanofi, we are licensing to them or giving them an option on the technology as it is today. We can and they can at some point decide to move under a tri-specific format or a tetra-specific format. Okay, great. Thanks for taking my question. We will be able to get to the
Thank you, Aakshu.
Your next question is from the line of Rajan Sharma with Goldman Sachs. Your line is open.
Hi, thanks for the questions. I've got two as well. So one's on financials and the second is on the pipeline. So on financials, just thinking about costs in 2023 and how we should think about that given that you have Matisse and also the IND for the CD20 Tetra specific, it'd be fair to assume kind of a similar level of growth that we saw in.
timelines for when we could potentially see the data. I know it's kind of dependent on the IND but on the side it says 24 plus so could that be in 2024?
Thanks. Yeah, thank you, Rajan. Two questions. The first one for Frederick to give some colors on our burn rate for 2023 and would that be in line with what we have in the budget or not given that we have two new studies entered into phase one, two new products entered into phase one.
major trial, the randomized phase 2 matrix and the phase 1 APS6501. And then maybe, Joyce, you can provide some colors on the final touch on the APS6501 protocol and patient populations.
Thanks, Mondeo. Coming to the cash burn, actually, given the difference in the maturity of the trials, some endings, some starting, which are mostly upsetting the cash burn for the year to come.
Also for the Matisse files, don't forget we share also some of the costs with Astazaneca. And also something important to be able to finance all the strategies and we disclose this also is that we do have a careful approach on our resources and have some efficiency measures to make sure that we can finance our strategies.
Question on the indication and the selection criteria for APA 6501.
Yes, so as mentioned, the actually H6501 is a CD20 targeted at cat molecule. The population that we will be looking at is initially a CD20 positive lymphoma. We're in the process of getting the protocol together.
Again, if you would like to ask a question, press star followed by number one on your telephone keypad.
Okay, we have a question offline from Olga Smolenskova at Bryan Garnier.
So if possible, could you provide a bit more color on IPH4501 and when we might see it entering the clinical stage? I already gave some colors on this, but maybe an opportunity for any to again summarize the ADC approach and the progress of IPH4501.
to apply it to our end gate technology. But some of the binders that we are generating are more fit for purpose for ADC approach. And it's a field that we are exploring for several years now. But now with this IPH40 cycle one we have...
made the decision to select one development candidate and as I also said previously we will give more updates on the next step of development later this year.
Thank you, Yanis. Any offline questions? Additional offline questions?
Operator, over to you for any further questions on the line.
Yes, your next question comes from the line of Jingming Chen with Evercore ISI. Your line is open.
Hi, this is Jimmy for ELISA. Thanks for taking our questions. So, we're just wondering for your first NCAT, the IPH 6101 CD123, when should we expect to see the Phase 1 data and what should we expect from the readout?
Thank you for the question. As you know, this is a Sanofi asset. It's a Sanofi trial. And we cannot speculate or…
on their behalf. Sanofi is progressing well and they mentioned in their earlier results that the program is progressing well and of course we will wait for the data they can provide the study.
Phase 1 study started about 15 months ago and we do not have any additional update to share with you. Thank you. Dennis, anything to add from your side? Anything to add?
Thank you.
There are no further audio questions at this time.
Ok
So if there are no further questions, I would like, ladies and gentlemen, to thank you all for attending this call and maybe let me quickly remind you of our key take-homes. And there are three. First of all, as you see, we stay focused on our strategic priorities.
to advancing La Critimam, maximizing the end-case platform, and building strategic partnership. Number two, clearly we have important readouts from our proprietary and personnel portfolio programs that are expected over the next 24 months. And last but not least, we have a strong financial position as we are well funded into mid-2025.
We'll keep you posted and thank you again for participating to this call. Bye bye. Ladies and gentlemen, thank you for participating. This concludes today's conference call. You may now disconnect.
That.