Q4 2023 2seventy bio Inc Earnings Call
Okay.
Operator: Good day, and thank you for standing by. Welcome to the 2Seventy Bio 4th Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode.
Good day, and thank you for standby and welcome to the 270 bio fourth quarter 2023 earnings Conference call. At this time, all participants are in a listen only mode. After.
Operator: After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, please press star 1-1 on your telephone. You will then hear an automated message advising that your hand is raised.
The speaker's presentation, there will be a question and answer session.
A question during this session. Please press star one one on your telephone you will then hear an automated message advising your hand this race.
Operator: To withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker, Elizabeth Hickin, Head of Investor Relations. Please go ahead.
To withdraw your question. Please press star one again.
Please be advised that today's conference is being recorded.
I'd now like to hand, the conference over to your speaker eligible chicken head of Investor Relations. Please go ahead.
Elizabeth Pingpank Hickin: Thank you, Operator, and good morning, everyone. Thank you for joining us. This morning, we issued a press release on our fourth quarter and full year 2023 financial results. The press release can be found in the Investors & Media section of the company's website at 270bio.com. As a reminder, today's discussion will include forward-looking statements related to 270Bio's current plans and expectations, which are subject to certain risks and uncertainties. These forward-looking statements include statements regarding our strategic plans, timelines, and expectations with respect to sales, efficacy, and perceived therapeutic benefits of ABECMA, the timing and review of additional studies and regulatory applications for ABECMA, and statements regarding our financial condition, expectations, and future financial Actual results may differ materially due to various risks, uncertainties, and other factors, including those described in the risk factors section of our most recent Form 10-K quarterly reports and other SEC filings.
Thank you operator, and good morning, everyone. Thank you for joining US. This morning, we issued a press release on our fourth quarter and full year 2023 financial results. The press release can be found in the investors and media section of the company's website at 270 bio dotcom.
As a reminder, today's discussion will include forward looking statements related to 270, <unk> current plans and expectations, which are subject to certain risks and uncertainties. These forward looking statements include statements regarding our strategic plans timelines and expectations with respect to sale advocacy and perceived therapeutic benefits of our backlog the timing and review of additional studies.
Regulatory applications for our back line and statements regarding our financial condition expectations and future financial result, among others actual results may differ materially due to various risks uncertainties and other factors, including those described in the risk factors section of our most recent Form 10-K quarterly reports and other SEC filings. These.
Elizabeth Pingpank Hickin: These forward-looking statements represent our views as of this call and should not be relied upon as representing our views as of any subsequent date. You are cautioned not to place any undue reliance on these forward-looking statements, and, except as required by law, we undertake no obligation to update or revise any forward-looking statements. On today's call, we are joined by Chip Baird, Incoming Chief Executive Officer, and Vicki Eatwell, Incoming Chief Financial Officer. Anna Truppel-Hartman, Head of Clinical Development, is also on the line for Q&A. And now, I will turn it over to Chip. Chip?
Looking statements represent our views as of this call and should not be relied upon as representing our views as of any subsequent date you are cautioned not to place any undue reliance on these forward looking statements and except as required by law, we undertake no obligation to update or revise any forward looking statement.
On today's call. We are joined by Chip Baird and cutting Chief Executive Officer, and Vicki eat well and Curling financial Chief Financial Officer, Anna Trouble Hartman head of clinical development is also on the line for Q&A and now I will turn it over to chip chip.
William D. Baird: Thank you, Liz, and thank you all for joining us this morning. This morning, we disclosed our fourth quarter and full year 2023 financial results and recent business and operational updates. I'd like to walk through some of the business updates, and then Vicki Eatwell, our incoming Chief Financial Officer, will go into detail on the financials. First, as we announced in January, we have embarked on a new strategic path forward as an organization that will be wholly focused on the backline.
Thank you Liz and thank you all for joining us.
This morning, we disclosed our fourth quarter and full year 2023 financial results and recent business and operational updates I'd like to walk through some of the business updates and then Vicki <unk>, our incoming chief financial Officer will go into detail on the financials.
First as we announced in January we have embarked on a new strategic path forward as an organization that will be wholly focused on our background.
William D. Baird: As part of this new path forward, we entered into an asset purchase agreement with Regeneron to acquire our research and development pipeline. I'm pleased to share that we've made good progress on the agreement and continue to believe we are on track to close within the first half of the year. Turning to a back note, we're looking forward to discussing our SBLA in the third line at the upcoming ODAC meeting next week. As we've shared, FDA has said it is focused on the overall survival data from the CARMA-3 study, which was presented at ASH and importantly showed a benefit in the abecma arm when adjusted for crossover. We believe these data support the case to prove abecma in this triple-class exposed patient population.
It's part of this new path forward, we entered into an asset purchase agreement with Regeneron to acquire our research and development pipeline.
I'm pleased to share that we've made good progress on the agreement and continue to believe we are on track to close within the first half of the year.
Turning to our backlog, we're looking forward to discussing our S. P. L. A and the third line at the upcoming <unk> meeting next week.
As we've shared FTAA has said they are focused on the overall survival data from the Karma III study, which was presented at Ash and importantly showed a benefit in the back of the arm when adjusted for crossover. We believe these data support the case to prove it back Matt and this triple class expose the patient population.
William D. Baird: We're pleased to see regulators across other geographies respond positively with third-line plus approvals in Japan and Switzerland, as well as a positive CHMP opinion in the EU, which gives us confidence in a potential approval here in the U.S. Our clinical and regulatory teams at 2Seventy and at BMS have been diligent and thorough in our preparation for the ODAC meeting next week. From a commercial perspective, approval in the third line plus setting is a key catalyst for background to return to growth. To that end, we at VMS are prepared to meet the anticipated demand in earlier lines and, importantly, to continue to deliver a backlight on time and in spec for patients. These efforts are in addition to other ongoing efforts to expand the site footprint.
We're pleased to see regulators across other geographies respond, possibly with third line plus approvals in Japan, Switzerland, as well as a positive <unk> opinion in the EU, which gives us confidence in our potential approval here in the U S.
Our clinical and regulatory or clinical and regulatory teams at $2 70, and at BMS had been diligent and thorough in our preparation for the <unk> and we look forward to the meeting next week.
From a commercial perspective, the approval in the third line plus setting as a key catalyst for background returning to return to growth to that end, we and BMS are prepared to meet the anticipated demands on their lives and importantly to continue to deliver a background on time and inspect for patients in need.
These efforts are in addition to other ongoing efforts to expand site footprint and competitively differentiate it back from a safety and efficacy profile with real world data.
William D. Baird: Competitively differentiate a Becma safety and efficacy profile with real-world data. We look forward to educating the community together with PMS on these data, and we remain excited about the potential for Beckman to transform the lives of patients living with myeloma. With these efforts and our extended cash runway, we believe 2Seventy is strongly positioned to see a backward return to growth this year and deliver for patients in need. Before I close, I'd like to turn the call over to Vicki to walk through some of our financials. Thanks, Jeff. As mentioned, fourth quarter ABECMA U.S. revenues, as reported by Bristol-Myers Squibb, were $56 million. The decline in fourth-quarter sales was due to ongoing competition from other BCMA-targeted therapies.
We look forward to educating the communities together with BMS on these data and we remain excited about the potential for it back but to transform the lives of patients living with myeloma.
With these efforts and our extended cash runway. We believe $2 70 is strongly positioned to see it back in a return to growth this year and deliver for patients in need.
Before I close I'd like to turn the call to Vicki to walk through some of our financials Vicky over to you. Thanks, Jeff as mentioned fourth quarter U S revenues as reported by Bristol Myers, Squibb, where $56 million.
Decline in fourth quarter sales was due to ongoing competition from other bcm a targeted therapies, we anticipate the commercial performance for the first part of 2024 will continue to be impacted by competitive dynamics until the potential expansion of the label to the third line plus setting which will increase the addressable patient population.
Vicki Eatwell: We anticipate that commercial performance for the first part of 2024 will continue to be impacted by competitive dynamics until the potential expansion of the label to the third line plus setting, which will increase the addressable patient population. In the fourth quarter, 2Seventy Bio reported collaborative arrangement revenue of $2 million related to its collaboration with BMS for the three months ended December 31, 2023, and collaborative arrangement revenue of $50 million related to its collaboration with BMS for the 12 months ended December 31, 2023. We anticipate collaborative arrangement revenue to grow meaningfully as we see BECMA return to commercial growth. We ended the year with $221.8 million in cash, cash equivalents, and marketable securities.
In the fourth quarter to 75 reported collaborative arrangement revenue of $2 million related to the collaboration with BMS for the three months ended December 31, 2023, and collaborative arrangement revenue of $50 million related to the collaboration with BMS for the 12 months ended December 31, 2023, we anticipate collaborative arrangement.
Revenue to grow meaningfully as we see it back in a return to commercial growth.
We ended the year with $221 8 million of cash cash equivalents in marketable securities with the changes to the cost structure, resulting from restructuring measures and following the close of the asset purchase agreement with Regeneron, We expect annual savings of approximately $150 million in 2024, and approximately $200 million in 2000.
Vicki Eatwell: With the changes to the cost structure resulting from restructuring measures and following the close of the asset purchase agreement with Regeneron, we expect annual savings of approximately $150 million in 2024 and approximately $200 million in 2025, inclusive of one-time cash restructuring costs of approximately $8 to $10 million. We now expect our cash runway to go beyond 2027 and see a path to potential break even by 2025, obviating the need to seek funding from the capital market in the foreseeable future. With that, I'll turn it back to Chip.
25, inclusive of onetime cash restructuring costs of approximately $8 million to $10 million.
We now expect our cash runway to go beyond 2027.
Paths to potential breakeven by 2025, obviating the need to seek funding from the capital market in the foreseeable future with that I'll turn it back to chip.
William D. Baird: Thanks, Vicki. Before we close, I'd like to thank the team at 2Seventy for continuing to navigate these challenging waters and not losing sight of the mission and the clear task at hand, with key milestones coming in the near term, such as the close of the APA with Regeneron, ODAC, and PDUFA soon thereafter. We feel we are well positioned to emerge from the first quarter in a much stronger position.
Thanks, Vicky before we close I'd like to thank the team at $2 70 for continuing to navigate these challenging waters and not losing sight of the mission and the clear task at hand with key milestones coming in the near term.
Those are the API with Regeneron Kodak and Paducah. Soon thereafter, we feel we are well positioned to emerge from the first quarter and a much stronger position, we look forward to continuing to support our partners at BMS as they bring it back.
William D. Baird: We look forward to continuing to support our partners at BMS as they bring it back to myeloma patients in need. With that, we're happy to take your questions. Operator, over to you.
Myeloma patients in need with.
We're happy to take your questions.
Over to you.
Thank you as a reminder to ask a question. Please press star one one of your telephone away for anything to be announced.
Operator: Thank you. As a reminder, to ask a question, please press star 11 on your telephone and wait for your name to be announced. To withdraw your question, please press star 11 again. We ask that you please limit yourself to one question.
To withdraw your question. Please press star one again.
We ask that you please limit yourself to one question. Please standby, while we compile the Q&A roster.
Okay.
Our first question comes from the line of Dana <unk> with Leerink Partners. Your line is now open.
Daina Michelle Graybosch: Please stand by while we compile the Q&A roster. Our first question comes from the line of Daina Graybosch with Lead Rank Partners. Your line is now open.
Yeah, I'd like to ask a question of that.
Toxicity profile I think you've often spoken in the past that the lack of delayed neurotoxicity, whether the more severe the less severe forms of that or a potential advantage, but you're still not necessarily seen that in the revenue numbers and I Wonder I wonder how your conversations with doctors in the field are going.
William D. Baird: Yeah, I'd like to ask a question about the toxicity profile. I think you've often spoken in the past that the lack of delayed neurotoxicity, whether the more severe or the less severe forms of that, is a potential advantage, but you're still not necessarily seeing that in the revenue numbers. And I wonder how your conversations with doctors in the field are going and whether you expect toxicity to be a major point of discussion at the ODAC. Thanks, Dana. It's a good question.
And whether you expect a toxicity to be a major point of discussion at the Odette.
Yeah.
Dana It's a good question and that's one that's been a known and on the label for some time.
William D. Baird: And that's one that's been known and on the label for some time. I would comment broadly from a commercial perspective that the tox profile becomes increasingly important as we move towards earlier line settings, when there are other treatment options available, and when the kind of benefit-risk profile just is inherently different.
Good comment broadly at a commercial perspective that the.
The tox profile becomes increasingly important as we move towards earlier line settings.
When there are other treatment options available and when the kind of benefit risk profile. It just is inherently different so I think that will be an important factor as we move into this third line plus setting but.
Anna Truppel: So I think that will be an important factor as we move into this third line plus setting. But we'll turn it to Anna to comment from a clinical perspective and from the patient's perspective. Thank you, Stephen.
I will turn it on a comment from.
The clinical perspective MD perspective.
Anna Truppel: Thank you, Dana. It is also important to note that revert experience is growing as well in the field, which also has an impact on on you. So with all the rebut evidence that has been published in the last month or so, at last, there was a wealth of data; we can see that there is lots of delayed neurotoxicity, such as Parkinsonism, for some other products, not for not as much for Becma.
Thank you, Steve and thank you Dan.
It is also important to note that <unk> experienced is growing as well.
In the in the field, which also has an impact on two onto you saw with all the reload evidenced that has been published in the last.
<unk> also developed the data.
You can see that there is lots of debate neurotoxicity, such as parkinsonism for some other products not for not as much for a beckman and I think these kind of data. It also.
Salvin Richter: And I think these kinds of data will also influence how treaters see the toxicity profile for the product. Thank you. Our next question comes from the line of Salvin Richter with Goldman Sachs. Your line is now open. Hi, this is Lydia on behalf of Salveen.
Influence how treat a C E D.
The toxicity profile for the product.
Thank you.
Our next question comes from the line of Sovereign Richter with Goldman Sachs. Your line is now open.
Anna Truppel: Thanks so much for taking our question. Just on the upcoming ODAC meeting, what key piece of data do you think best supports the overall survival data? Thanks so much.
Hi, This is <unk> on for Sylvia and thanks, so much for taking our question just on the upcoming <unk> meeting what key piece of data do you think best supports the overall survival data. Thanks, so much.
Anna Truppel: Yeah, Anna, do you want to comment on that one? Yes, thank you very much for the question. So the overall survival data has a key confounding factor, which is the crossover. We have used a very patient-centric study design. And therefore, we haven't seen a difference between the center of care arm and abecma in overall survival.
Yes, Anna do you want to comment on that one yes. Thank you very much for the question.
The overall survival data has a key confounding factor, which is the crossover you have used a very patient centric study design.
And therefore, we haven't seen a difference between the set of care of an at bat combined over survival, but when adjusting for crossover as mentioned by <unk> before then.
Anna Truppel: But when adjusting for crossover, as mentioned by Tiff before, then it really seems to favor abecma. So this is kind of an important point when looking at overall survival data. In addition to that, we have had discussions around bridging therapies as well for the ITT population. And due to the impact of bridging therapies and the importance of bridging therapies, we've seen some imbalance in the early part of the Kaplan-Meier curve. But overall, overall survival seems to be really favoring EIDA cell when adjusting for the crossover.
Really seems to favor.
Ecmo. So this is kind of a.
An important point when looking at overall survival data.
In addition to that we.
We have we have had discussions around bridging therapies as well for all of us.
For the ITT population and due to the impact of breaking therapies and important the switching therapies. We have seen some imbalance in the early part of the couple of microbes, but overall overall survival seems to be really favoring either sell when adjusting for the crossover.
William D. Baird: Yeah, and the only thing I'd add there is overall survival was a focus of, as we said before, the regulatory discussions in Japan and in Europe and the Swiss regulatory authorities. So this is a topic that we've had experience talking to regulators about. The team has been diligent in the preparation for the meeting.
Yes.
There is overall survival was a focus of as we said before the regulatory discussions and <unk>.
In Japan and in Europe in the Swiss regulator regulatory authority. So this is a topic that we've had experience talking to regulators about the team has been.
Yaron Benjamin Werber: And so we look forward to discussions next Friday. Thank you. Our next question comes from the line of Yaron Werber with TD Cowen. Your line is now open. Hi, this is Jaina on V-Roan.
Diligent and the prep for that for the meeting and so we look forward to discussions next Friday.
Yeah.
Thank you our.
Our next question comes from the line of yarn Werber with TD Cowen. Your line is now open.
William D. Baird: Thanks for taking our question. You're already facing a lot of competition from Carbixy and Vice Pacific. But looking further ahead, do you think that Adekno's lead time to market is going to be sufficient to be competitive even with newer car teams in development like ArcelorTugulio's InedoCell or Novartis' C885? Or do you think demand is going to be increasing enough as CAR T's move upstream to make room for several CAR T's to coexist?
Hi, This is Gino on V. Robyn thanks for taking our question.
But you are already facing competition from privacy and bi specifics looking further ahead do you think that that must lead to market is going to be sufficient to be competitive even with newer Cartesian development like ours. All I can give you the need to sell on Novartis <unk> five.
Or do you think demand is going to be increasing about the car T to move upstream to make room for several car teeth to coexist.
William D. Baird: Yeah, thanks for the question. I, You know, I think the history of myeloma has never been a winner-take-all scenario. This is a huge market. It's a complex market, Patients progress through different lines of therapies in a myriad of different ways. And again, as we expand from the current label to this expanded third-line plus setting, the market opportunity is significant, but it will be difficult for any one manufacturer to meet that demand. And as Anna alluded to before, as we look at the real-world evidence and as we understand more and more about these therapies, not outside the strict confines and controlled setting of a clinical study but actually in their use and application in the real world, differences emerge, and our understanding of what's the best product for the best patient population evolves. And we think that's going to play out over a very long time. I think the outside world has taken on somewhat of a winner-take-all kind of mindset.
Okay.
Yes. Thanks.
Thanks for the question.
I think the history of myeloma has has always been.
<unk>.
Undertake all scenario. This is a huge market. It's a complex market patients progressed through different lines of therapies and a myriad of different ways.
And again as we expand from the current label to this expanded third line plus setting.
The market opportunity is significant it will be difficult for any one manufacturer to.
To meet that demand and as Anna alluded to before as we.
Look at the real World evidence and as we understand more and more about this therapy is not outside the strict confines and controlled setting of a clinical study, but actually and they are used in application in the real world.
Differences emerge and our understanding of what's the best product to offer that for desk patient population.
And we think that's going to play out over a very long time I think.
The outside World is has taken.
Taken somewhat of a.
Winner take all kind of mindset and that's.
Kelsey Beatrice Goodwin: That's convenient, but we think it's too simple; it's an oversimplification of the nuance between these different products. And as we said, we like the benefit-risk profile, but, background, we like the safety and efficacy profile, we think it's competitive. And we look forward to educating patients on that in the Third Line Plus setting throughout the balance of this year. Thank you. Our next question comes from the line of Kelsey Goodwin with Guggenheim Securities. Your line is now open. Oh, hey, good morning.
That's convenient and that's a.
But we think it's as simple as that.
Over simplification of the nuance between these different products.
And as we said we like.
The benefit risk profile of the backlog, we liked the safety and efficacy profile, we think it's competitive and we look forward to educating on that in the third line plus setting throughout the balance of this year.
Thank you.
Our next question comes from the line of Kelsey Goodwin with Guggenheim Securities. Your line is now open.
Oh, Hey, good morning, Thank you for taking my question.
William D. Baird: Thank you for taking my question. I guess on the real world evidence that's being generated, could you just remind us what are the major key areas of differentiation for a BECMA that are arising from the real world data? And then maybe quickly follow up on increasing the site footprint?
I guess on the real World evidence, that's being generated could you just remind us what are the.
Major key areas of differentiation for a bank that's a rising with the real World data and then maybe quickly follow up on <unk>.
William D. Baird: Could you maybe just expand a bit there? I guess these are sites that already have existing CAR T infrastructure, and how will that build out look? Thank you so much. Sure. Thanks, Kelsey. Maybe I'll take the site footprint question first, and then we can talk about the points of differentiation that are emerging from the real-world evidence and real-world setting.
Leasing the site footprint could you maybe just expand a bit there I guess are these sites that already have existing car T infrastructure and how will that build outlook. Thank you so much.
Sure. Thanks, Kelsey, maybe I'll take the site footprint question first and then we can talk about.
The points of differentiation that are emerging.
Real World evidence and railroad setting from a site footprint perspective, we've as we've described before we continue to increase.
William D. Baird: From a site footprint perspective, as we've described before, we continue to increase the number of sites where a vaccine is available for patients in a large market like the U.S. That's really important for patients, particularly later-line patients for whom extended travel is difficult. Again, we started in larger cities and larger academic centers where the catchment was just larger, and that made a lot of sense to increase the footprint that's going to make Becma available for more and more patients. And, you know, we have plans to continue to expand that footprint over time. So that's an important commercial driver.
The the number of sites, where beckman available for patients.
And a large market like the U S.
Really important for patients, particularly later line patients for him.
Extended travel is difficult.
So again, we started and larger.
The cities and larger academic centers, where they.
The cash rent was just larger and that made a lot of sense, but as we've.
Increase.
Increase the footprint, that's going to make it back amount available for more and more patients and we have plans to continue to.
Expand that footprint over time, so that's an important commercial driver, but I think the main one is going to be our ability to describe and articulate both the safety.
William D. Baird: But I think the main one is going to be our ability to describe and articulate both the safety profile and the efficacy, the competitive efficacy profile of Becma. In terms of what we're seeing and some of those competitive differentiators in the real world evidence, you know, again, it's both safety and, I think, a closing of the gap from the efficacy perspective, but Anna, I think it would be best to comment on that. Yes,
The safety profile and the efficacy from the competitive efficacy profile of <unk> in the third line plus setting.
In terms of the.
What we're seeing and some of those competitive differentiators in the real world evidence again, it's both safety.
And I think a closing of the gap from the efficacy perspective, but.
I think it would be best to comment on that yes. Thank you chip.
Anna Truppel: Thank you, Chip. The return evidence data, it's wonderful to see that the amount of data is increasing with Ebeka being available now for a while commercially. And what we really can see is that whatever data set that is looked at, the data are reproducible from the CARMA pivotal study.
The real World evidence data, it's wonderful to see the bulk of data is increasing with tobacco being available now for awhile commercially and what we really can see is that we were whatever dataset that is looked at in the data our repo.
Reproducible from the Carmel pivotal study so any data set has shown EBIT same.
Anna Truppel: So, any data set has shown either the same efficacy or even better efficacy, and of note, many of those patients that are treated in revert wouldn't have been eligible for the pivotal study. So, this is very, very encouraging to see that the revert evidence data seem to be very beneficial for Ebeka with regard to efficacy and safety. I do think there was also a lot of data around the safety profile of the new agents approved in myeloma, and also there, Ebeka looks very good compared to the other profiles with regard to non-relapse mortality or infections or delayed neurotoxicity, et cetera.
You see or even better efficacy.
And of note many of those patients that are treated in waiver. It wouldnt have been eligible for the.
Pivotal study. So this is very very encouraging to see that that we would evidenced day does seem to be very beneficial for our bank.
With regards to efficacy, but also with regards to safety.
I do think there was also a lot of data around the safety profile of the new agents approved in myeloma and also their beckmann looks looks very very good compared to the other profiles with regards to non relapse mortality or infections or due date neurotoxicity et cetera. So.
Samantha Lynn Semenkow: So, I do think we are very pleased to see how the body of evidence in the revert is showing positive results. Thank you. Our next question comes from the line of Samantha Semenkow with Citi. Your line is now open. Hi, good morning.
I do think they are very pleased to see how the body of evidence and we were evident.
<unk> is showing.
Showing positive results.
Thank you.
Our next question comes from the line of Smith <unk> with Citi. Your line is now open.
William D. Baird: Thanks for taking our question. I'm wondering if you're able to share any insights on ABECMA's utilization trends over the last several months or quarters. You know, what types of patients are receiving or continuing to receive ABECMA? How are physicians making the decision to utilize ABECMA versus other competitive BCMA options? What types of centers are you seeing? Any insight you're able to provide would be helpful. Thank you
Hi, good morning, Thanks for taking our question.
I'm wondering if you're able to share any insights on that with utilization trend over the last several months or quarters.
What types of patients are receiving continuing jersey look back that far.
Physicians, making the decision to utilize the backing out of Brisbane.
They are competitive.
Sure.
The centers are you seeing them back in the year.
Any insight you are able to provide would be helpful. Thank you.
William D. Baird: Yeah, thanks for the question. I would say it's really site-specific in terms of how it's being used. So again, we don't tend to think of a Vecna being, you know, niched for, you know, a given type of patient. So really, I think it depends on the site in terms of whether it's in a Vecna-only site, whether it's a Vecna and T cell engager site, or whether they have multiple CAR Ts. Those are all different factors that I think impact how Vecna is being deployed.
Hi, Sam yes, thanks for the question.
I would say, it's really site specific in terms of how it's being used so again, we don't.
I tend to think of it that going up being niche for it.
Given type of patients so really I think it depends on the site in terms of whether it's in the back the only side what's in backlog.
And.
T cell engagement side or whether they have multiple car Ts.
Those are all different factors that I think impact.
Operator: But certainly, as we think about both the fifth line and looking forward to the third line plus setting, we don't see a back mask as a niche for a given subset of patients, but. Anna, anything from a clinical perspective to add? No. Thank you. I'm showing no further questions at this time. I'd like to hand the call back over to Chip Baird for closing remarks. Thank you, everyone, for making time for the call today. We look forward to sharing more updates, and I'm sure we'll be talking again on the other side of the ODAC meeting this week. And with that, I wish everyone a great day. Thank you. This concludes today's conference call. Thank you for your participation. You may now disconnect. SORRY. THIS HAS BEEN TRANSLATED!
How that is being deployed but certainly as we think about both the fifth line and looking forward to the third line plus setting.
<unk>.
We don't see a back math I believe niche to give.
Given the subset of patients but.
Anything from a clinical perspective to add no. Thanks.
Thank you.
Thank you I'm showing no further questions at this time I'd like to hand, the call back over to chip Baird for closing remarks.
Thank you everyone for making time.
For the call today, we look forward to sharing more updates and I'm sure we'll be talking again on the other side of.
<unk> meeting this week.
With that wish everyone a great day. Thank you.
This concludes today's conference call. Thank you for your participation you may now disconnect.
[music].
Okay.
Okay.
[music].
[music].
Okay.
[music].