Q4 2024 Oncolytics Biotech Inc Earnings Call
Speaker Change: Good morning, and welcome to Oncolytics by-a-tax Fort Quarter and Full Year 2024 Conference Call. All participants are in a listen-only mode. There will be a question and answer session at the end of the call. Please be advised that this call is being recorded at the company's request.
Speaker Change: I would now like to turn the call over to John Patton, director of investor relations and communication. Please go ahead.
Jon Patton: Thank you, operator. Good morning, everyone, and welcome to Oncolytics' fourth quarter and full year 2020-24 earnings call.
Jon Patton: As a reminder, various remarks made during this call contain certain forward-looking statements linked to the company's business prospects and the development and commercialization of Pellery Rep.
Jon Patton: To whom statements regarding the company's mission, strategy, and milestones, the company's belief [inaudible]
Jon Patton: That's the potential and mechanism of action with Palleria up as you can see there. Putec.
Jon Patton: our search for a new permanent CEO , our potential registration law opportunities for public rear-up and our plans and strategies related there too.
Jon Patton: The Potential Market for Pellet Rewrap and Breast Cancer are plans to continue in Roman and Godlet co-5, our ongoing business development initiatives, and other statements related to anticipated developments in the company's business.
Jon Patton: These statements are based on management, current expectations and beliefs and are subject to a number of factors which involve known and unknown risk delays and uncertainties and other factors not under the company's control. It may cause actual results, performance or achievements of the company to be materially different from the results, performance or expectations implied to these four-looking statements.
Speaker Change: In a new four-looking statement in which Oncolytics expresses an expectation or belief as to future results, such expectations or beliefs are expressing good faith, and are believed to have a reasonable basis, but they can be no assurance of these statement or expectation or belief will be achieved
Speaker Change: These factors include resulted current-dependent clinical trials. This is associated with intellectual property protection, financial projections, actions by regulatory agencies, and those other factors detailed in the company's filings of the C-DAR and the SEC.
Speaker Change: on Planet Earth on Undertake, any obligation to update to use forward-looking statements except as required by applicable laws.
Speaker Change: Joining me this morning to discuss our recent accomplishments in addition to what we're looking forward to in 2025.
Speaker Change: Chairman of Oncolytics Board of Directors and Interim CEO , Wayne Pisano, Chief Medical Officer, Dr. Tom Heineman, Chief Financial Officer, Kirk Look, and Vice President, Business Development, Christophe Degois. To get us started, I'd like to hand it to Wayne, who will provide us with an introduction and overview. Wayne.
Speaker Change: First I'd like to reiterate my and the entire team's best wishes for Dr. Matt Coffey does he focused his full time on his recovery.
Speaker Change: Many of you know that Matt is a co founder of the company and he has a passion for improving the lives of cancer patients. So this is not a decision that was taken lightly.
Speaker Change: That's knowledge and expertise on Colo real reps and immuno oncology is impressive people.
Speaker Change: Will always be a strong advocate of Tullow real rep, and we anticipate that he will support uncle IDEXX Advisory rule later this year.
Speaker Change: We are actively searching for a chief executive officer to lead the company's advancement of our novel therapeutic agent Hello, Rio Rep or pillar as we refer to it.
Speaker Change: We believe the opportunity for pellets is very compelling as we see the potential for an accelerated approval pathway and HR positive <unk> negative metastatic breast cancer.
Speaker Change: And there are exciting work gastrointestinal tumors continues to garner attention from collaborators like CCAR and Pat can in addition to key opinion leaders in the field.
Speaker Change: I'll leave it to Tom to discuss our clinical data in more detail, but I'd like to highlight that in 2024, we generated outstanding final data and the bracelet one breast cancer study that not only met but exceeded our expectations were.
Speaker Change: We also furthered our work in Gi cancers with the ongoing goblet study <unk>.
Speaker Change: Initial safety and efficacy data in both pancreatic and anal cancers are positive.
Speaker Change: After Tom Christophe will provide us with an overview of our business development progress and Kirk will discuss our financials.
Speaker Change: I'd like to remind everyone that all I don't know last call Christoph provided a detailed analysis of the breast cancer market.
Even with the introduction of the Adcs breast cancer remains an unmet medical need for many patients.
Speaker Change: We estimate that as many as 55000 breast cancer patients with benefits of Impella reorder it.
Speaker Change: The efficacy data generated in both breast and gastrointestinal cancer trials demonstrate the potential color wheel rep and hard to treat and very diverse tumor types.
Speaker Change: We remain focused on advancing the development of Colo real reps for cancer patients value generation for our shareholders.
Speaker Change: I'll turn it over to Tom to discuss our clinical program updates Tom.
Speaker Change: Yeah.
Tom Christophe: Thanks Wayne.
Tom Christophe: The recent impactful Gi data the Wayne mentioned were presented in late January at the <unk> Gi Conference.
Tom Christophe: From Garboard cohort, four which investigates power and the checkpoint inhibitor or a T cell leukemia and relapsed anal cancer.
Tom Christophe: We reported a 33% objective response rate from the 12 evaluable patients.
Tom Christophe: Alluding a complete response with lasted more than 15 months.
Tom Christophe: In addition, we reported translational data from this cohort showing the expansion of new and pre existing tumor infiltrating lymphocyte clones in the blood of patients who responded to treatment with <unk> combined with the teacher Lindsay Mann.
Tom Christophe: We also saw the upregulation of multiple cytokines in these patients, including <unk> 910, and 11 as.
Tom Christophe: As well as PDL, one and interferon gamma.
Tom Christophe: These results from patients with relapsed anal cancer support pellets immunologic mechanism of action as previously defined in other cancers spin.
Tom Christophe: Specifically, they demonstrate <unk> ability to enhance anti tumor T cell responses and its complementary effect of making tumors visible to the immune system.
Tom Christophe: In addition, these findings provide.
Tom Christophe: Evidence of <unk> ability to synergize with checkpoint inhibitors in cancers that have historically resisted immune therapies.
Tom Christophe: We have begun enrollment into stage two of this Simon two stage study, which will provide data from an additional 18 patients.
Tom Christophe: We believe the confirmation of the efficacy signal for these patients with.
Tom Christophe: It would provide a strong foundation for a subsequent registrational trial and anal cancer.
Tom Christophe: At <unk>. This past January we also presented safety results from God with cohort five.
Tom Christophe: In this cohort patients with metastatic pancreatic cancer.
Tom Christophe: Are being treated with power combined with modified fulfill remarks, either with or without that he's elysium lab in two treatment arms.
Tom Christophe: No safety signals were observed during the safety run in period and both an independent data safety monitoring board and the German regulatory authorities have approved the cohort to continue to full enrollment.
Tom Christophe: We're now working towards achieving the next enrollment milestone completion of enrollment into stage one of the Simon two stage cohort.
Tom Christophe: Which consists of a total of 30 evaluable patients.
Tom Christophe: We expect to review and report the initial efficacy results from this cohort by the end of the year.
Tom Christophe: Note that this cohort is funded by a $5 million grant from the pancreatic cancer action network, where pan Kim.
Tom Christophe: Their therapeutic accelerator reward based on compelling prior pancreatic cancer results.
Tom Christophe: <unk> from cohort one of the Goblet study.
Tom Christophe: In which patients treated with <unk> combination therapy showed an objective response rate more than double historical results.
Tom Christophe: Our Gi cancer studies and provided results. Most recently, our top priority remains breast cancer, specifically metastatic HR positive <unk> negative breast cancer.
Tom Christophe: Which tower has previously demonstrated a marked statistically significant near doubling of median overall survival in the <unk> III study.
Tom Christophe: Light of this exciting result, we conducted the bracelet one study to confirm the robust efficacy signal observed in R&D to one three and to extend the evaluation of pellets are patients who had previously received CDK four six inhibitors, which are now part of the standard treatment regimen for patients with advanced <unk>.
Tom Christophe: Static HR positive <unk> negative breast cancer.
Tom Christophe: This past fall to final efficacy results from the bracelet, one study became available.
Once again pointed to a clinically meaningful benefit for patients treated with pellet based combination therapy to those treated with chemotherapy alone.
In fact, all efficacy measures favorite patients and the pellet combination therapy arm compared to those in the chemotherapy alone. On these included median progression free survival median overall survival two year survival rate and confirmed objective response rate.
Tom Christophe: With these results we have now observed a substantial efficacy signal from two randomized trials that enrolled over 100 patients.
Tom Christophe: We currently are planning to move directly to a large phase II study of approximately 180, HR positive <unk> negative advanced or metastatic breast cancer patients.
Tom Christophe: We anticipate will support an accelerated approval final submission.
Tom Christophe: In this study patients will be randomized to receive either power plus paclitaxel for control therapy of Paclitaxel alone. The primary endpoint is expected to be reached within two years of the start of patient enrollment.
Tom Christophe: Planning for this study is ongoing and we aim to initiate the study in the second half of this year.
Tom Christophe: In conclusion, the clinical data we have generated continued to exceed our expectations provide extremely strong support for continued clinical development and provide clear path towards registration and breast pancreatic and anal cancers, all difficult to treat cancers with high unmet needs.
Christophe Degois: Now I'll turn the call over to Christophe who will provide an update on our ongoing business development activities and collaborations Christoph.
Thanks, Tom.
Christophe Degois: Happy to be here with you today to provide the latest update on an ongoing business development conversations.
Christophe Degois: Since our last earnings call, we've continued to communicate to potential Biopharma partners. So substantial clinical benefit demonstrated across multiple hard to treat indications.
Christophe Degois: However, breast cancer highest priority.
Christophe Degois: This is because we have data showing how that's benefiting two randomized breast cancer studies it exceeds 100 patients.
Christophe Degois: Also after discussion with regulators and key opinion leaders.
Christophe Degois: We know where tell us should be positioned in the ever evolving breast cancer treatment paradigm.
Christophe Degois: So the clinical benefit in the final stage one data reported this past four pillar combined with specialty type sales showed a greater than 12 month estimated advantage over purchase actual mower therapy.
Christophe Degois: However, as Tom mentioned, we also saw meaningful benefit and objective response rates PFS and 12 24 months overall survival.
Christophe Degois: I expect this positioning of Paypal in the treatment paradigm.
Christophe Degois: To follow up on a treatment like endocrine therapy, CDK, four six inhibitors and targeted therapy and antibody drug conjugate. However, some patients may not be eligible for or cannot tolerate adcs. So once a patient is eligible for chemotherapy.
Christophe Degois: That would be a natural fit as our data are expected tax shows that while this benefit of Apache <unk> monotherapy.
Christophe Degois: As I discuss in great detail on our previous call. This is why we anticipate there will be 55000 addressable breast cancer patient in the U S by 2027.
Christophe Degois: And the potential for $2 4 billion in annual save across the U S and major European markets by 2023.
Christophe Degois: Another important aspect of IBD conversation centered around the way we would take pay that next on the regulatory pathway.
Speaker Change: I've said, Mexico discussion with key opinion leaders a statistician.
Speaker Change: These are new registration, enabling breast cancer study that could generate a PFS endpoint.
Speaker Change: Within two years of the start of patient enrollment and be eligible for an accelerated approval five submission.
Speaker Change: We believe this is reasonable because the PFS benefit we would aim to achieve is for three months, but the breadth of that benefit was $5 seven months without meetings. She was an aspect of our strategy that seems to be well understood.
Speaker Change: And one that has already been used by other companies, including the approval of fibers for Pfizer and <unk>.
Speaker Change: No in future meetings, we've also layered in the most recent development that we presented at ESMO Gi from a promising gastrointestinal opportunity.
Speaker Change: At this compensation progress, we'll be sure to keep you updated when the fortunate position to have a compelling data in street indication breast pancreatic and other cancers.
Speaker Change: Kansas.
Speaker Change: These three indications demonstrate the growth potential for <unk> throughout the large number of patients and provide a commercial opportunity that is appealing to potential biopharma partners.
In the jewelry space G codes Pan can remain a valued collaborators were excited that goblet CT five funded by Penn Ken is continuing to progress as planned.
Speaker Change: That ready for full enrollment even the DSM V. NPI start offs as a reminder, pen can provided oncology with a 5 million grant.
Speaker Change: To fully formed called five after an extensive vetting process of meeting with multiple pancreatic key opinion leaders.
Speaker Change: As a highly regarded organization solely focused on pancreatic cancer there are both.
Speaker Change: Confidence is patent payoffs potential gives us confidence in our strategy to continue evaluation into syndication.
Speaker Change: And Ken continued interesting pillar is helping us to provide a more complete picture of past potential in this extremely difficult to treat type of cancer.
Speaker Change: This is due to the fact that the treatment regimen, it's cort evaluating treatment was a different chemotherapy.
Speaker Change: We have used in the past, but if HIFU tradeoffs.
Speaker Change: This is one of the two most commonly administered.
Speaker Change: By credit cancer patient they are also being gemcitabine and Nab paclitaxel.
Speaker Change: The combination of pillar best Gemcitabine, and Nab Paclitaxel and as always a bad showed a 62% objective response rates well above the usual 2025 response rate that would be expected in a similar patient population.
Speaker Change: In turn that that led to the relationship with <unk> as well as a fast track designation from the FDA and the opportunity to collaborate with GE call.
Speaker Change: We continue to engage with <unk> to finalize the master protocol for any shade initiating a registration enabling study that could eventually lead to regulatory approval for the pay that gemcitabine and Nab Paclitaxel and <unk> combination.
Speaker Change: We look forward to sharing additional enrollment plan updates with you later this year.
Speaker Change: Next.
Speaker Change: I'll now turn the presentation of our Cook for a review of our financials Kirk.
Speaker Change: Okay.
Kirk Look: Thanks, Christoph and good morning, everyone.
Speaker Change: Ill discuss our financial results for the fourth quarter and full year 2024, which will be provided in Canadian dollars unless otherwise noted.
Speaker Change: Full summary of our financial results can be found on the investors section of our website under filings and reports or in the press release issued earlier this morning.
Speaker Change: Now throughout 2024, we remain cautious with our cash resources as of December 31, 2024, The company reported $15 9 million in cash and cash equivalents.
Speaker Change: Net cash used in operating activities for 2024 totaled $27 million.
Speaker Change: Compared to $28 4 million for 2023, reflecting noncash working capital changes, partially offset by higher net operating activities in 2024.
Speaker Change: General and administrative expenses for the fourth quarter of 2024 were $3 9 million.
Speaker Change: Compared with $4 2 million for the fourth quarter of 2023. The decrease was mainly attributed to lower personnel related expenses incurred in 2024, along with lower cash annual short term incentive awards.
Speaker Change: The decrease was partially offset by higher share based compensation expense.
Speaker Change: Research and development expenses for the fourth quarter of 2024 were $4 6 million.
Speaker Change: Compared to $4 7 million for the fourth quarter of 2023.
Speaker Change: The decrease was due to lower personnel related expenses related to lower cash annual short term incentive awards.
Speaker Change: Mainly offset by higher clinical trial expenses and share based payment compensation expense.
Speaker Change: Net loss for the fourth quarter of 2024 was $8 million.
Speaker Change: Compared to a net loss of $3 9 million for the fourth quarter of 2023.
Speaker Change: The basic and diluted loss per share was <unk> 10 cents in the fourth quarter of 2024 compared to a basic and diluted loss per share of <unk> <unk> in the fourth quarter of 2023.
Speaker Change: Full year 2024, net loss totaled $31 7 million compared to $27 $8 million in 2023, or <unk> 41 per share on a basic.
Speaker Change: Basic and fully diluted basis.
Speaker Change: Okay.
Speaker Change: As we look forward to 2025, we are confident in the vast potential that palo holds for improving patient outcomes.
Speaker Change: We are making progress as shown by the recent data on pancreatic and anal cancers announced that ESCO Gi and we are dedicated to advancing pillar as effectively and efficiently as possible.
Speaker Change: Now before we wrap up today's call I'd like to thank everyone, who continues to support our efforts from patients providers and caregivers to our dedicated employees and most importantly, our steadfast shareholders.
Speaker Change: On behalf of the entire management team at <unk>. Thank you again for taking the time to join us today.
Speaker Change: Now I would like to open the call up for Q&A operator.
Speaker Change: Thank you and ladies and gentlemen, we will now begin the question and answer session to ask a question you May press star followed by the number one I know your telephone keypad.
Speaker Change: Using a speaker phone please pick up your handset before pressing any keys do we draw. Your question you May Press Star followed by the number two once again the asbestos star one to join the queue. One moment. Please for your first question.
Speaker Change: And your first question comes from the line of Michael Freeman with Raymond James. Please go ahead.
Michael Freeman: Hey, Good morning, Kirk Wayne Tom Christophe John.
Michael Freeman: Congratulations on a on closing out a strong year in 2024, and looking like an action packed 2025, sorry, getting excited or deaths.
Michael Freeman: I guess that.
Michael Freeman: One question I have is.
Speaker Change: As you get closer to launching the registration enabling study in metastatic breast I'm wondering.
Michael Freeman: How you're how you're thinking about the total cost.
Michael Freeman: Of that trial and I know you did provide some sort of detail around around timing.
Michael Freeman: If you could provide as much color on launch timing and the initial readout timing as you can that would be terrific.
Michael Freeman: Sure.
Michael Freeman: I can take that.
Michael Freeman: So.
Speaker Change: So currently we are working at getting the study registration.
Michael Freeman: Pardon me.
Michael Freeman: Enrollment ready.
Michael Freeman: So what that means.
Michael Freeman: We are more or less finalized the protocol will be approaching the regulator.
Michael Freeman: As a normal course activity in the meantime, we're working with that are identified sites through feasibility.
Michael Freeman: Working with their process to get them onboard and then once we.
Michael Freeman: Once you have that.
Michael Freeman: Our sites identified and ready to.
Michael Freeman: To be put on board, we'll look to to bring them online and then we'll start to.
Michael Freeman:
Michael Freeman: Be in a position to enroll.
We're targeting to be in that position.
Michael Freeman: As things progress, we will probably be later half of the year now once enrollment starts.
Michael Freeman: Expected to be 18 months enrollment period with a six months maturity data maturity to get to.
Michael Freeman: PFS readout.
Michael Freeman: In the interim we're looking at.
Michael Freeman: Putting in place a futility analysis.
Michael Freeman: We have to finalize.
Michael Freeman: That assessment.
Michael Freeman: But our expectations right now is a futility analysis will take about 14 months from the first patient.
Michael Freeman: Enrolled.
Michael Freeman: To get to that to that point and then we can.
Michael Freeman: Have the futility readout.
Michael Freeman: Okay, Great and then.
Any.
Michael Freeman: Sharper estimations on on total costs.
Michael Freeman: We're working through that.
Michael Freeman: Michael I think it's premature to speak to that and any any great detail.
Michael Freeman: But but as we understand our sites.
Michael Freeman: And enrollments their.
Michael Freeman: Enrollment rates et cetera will be able to we'll be able to have more color on that.
Michael Freeman: Gotcha, Okay. Thank you one.
Michael Freeman: One more question.
Michael Freeman: I've been noticing more news from Alkalotic virus developers in the landscape and I Wonder if you are seeing.
Michael Freeman: Increasing evidence that there is a bit of a.
Michael Freeman: Including virus Renaissance going on.
Michael Freeman: And are you seeing increased interest from pharma.
Michael Freeman: As a result, I would point, specifically to CJ oncology that theyre able to raise about $200 million at the end of last year on good data.
Michael Freeman: Yes.
Michael Freeman: A live virus.
Michael Freeman: Curious, how you're seeing things.
Michael Freeman: I'm curious for your perspective on all this.
Michael Freeman: Okay.
Michael Freeman: Christophe do you want to speak to that are still achieve you've heard on your end and I can follow up and if others want to jump in the K.
Michael Freeman: I P to P to answer that yes.
Michael Freeman: You're exactly right I mean, you were talking about CG oncology. We also I don't know you may have seen also candle you know it was down there as you know in the at the end of last year. So we definitely see more activities in that field.
Michael Freeman: I think that that's very beneficial for us because let's let's remember that we have a significant advantage.
Michael Freeman: Being being.
Michael Freeman: Injected you know instead of Ah I mean.
Michael Freeman: IV injection and now they need to promote and you know that the <unk> mall as beaten sometimes you know.
Michael Freeman: Complicated for Big pharma companies are not really interested in that.
Michael Freeman: So we as we as I mentioned, you know you're doing the cold I think we continue to have a conversation with potential partners and we've seen that.
Michael Freeman: No.
Michael Freeman: Liked how we position you know Pat I in the breast cancer.
Michael Freeman: Multiple you know signaled breast cancer, obviously everything has a very strong data, but also the strong signal we've seen even though the indication pancreatic and annual.
Michael Freeman: So Nate you know very well with our with potential companies.
Michael Freeman: Okay.
Kirk Look: Kirk do you want to add anything to that.
Kirk Look: Yeah, and what we're what we're noticing on kind of discussions and presentations with investors is again more interest in the AR and the Ob space, we're seeing we're seeing.
Kirk Look: More dedicated.
Kirk Look: Clinicians.
Kirk Look: <unk>.
Speaker Change: Experts from from those investors sitting down and talking to us.
Kirk Look: Walking through our data and our Pla.
Kirk Look: <unk>.
Kirk Look: And theres been some comments on on from their standpoint, just seeing some white space.
Kirk Look: <unk> to generate return.
Kirk Look: For them and.
Kirk Look: And so their focus is on that they see some of them are seeing this as a real opportunity. So.
Kirk Look: That in combination with what's going on in the industry I think there is some pretty.
Kirk Look: I think big and important data readouts coming from from our competitors, but it'll be important to help those investors continue looking at the space.
Kirk Look: And we've seen a real shift in that so we're excited.
Kirk Look: So hopefully be part of that.
Excellent yeah right.
Kirk Look: Tight situation I hope.
Kirk Look: And so I guess your horn, one last one and I.
Kirk Look: I Wonder Neel on the pancreatic fronts.
Speaker Change: Our alignment with Teekay I understand that you are working together to get that Master protocol.
Kirk Look: Together.
Kirk Look: First is this well it must be the first trial launched on the <unk> platform and.
Kirk Look: I recognize that.
Kirk Look: It takes some time for.
Kirk Look: This organization as you all know that.
Kirk Look: And get together, a master protocol, but I wonder if there is.
Kirk Look: If there's any way that this trial can be.
Kirk Look: It can be accelerated to watch.
Kirk Look: Okay.
Kirk Look: <unk>, yeah, Yeah, I can I can speak to that but.
Kirk Look: We have been working as Kirk mentioned very actively with.
Kirk Look: G car to finalize.
Speaker Change: Licensure, enabling study protocol.
Speaker Change: The next step would be this would be typical in this you sort of situations would be to go to the regulators and.
Speaker Change: And get the Fda's thoughts and and move on from there.
Speaker Change: So it's really maybe a little early for us to.
Speaker Change: Say anything very specific about the timing.
Speaker Change: Until we talk to the FDA, but I can say with regard to accelerating that.
Speaker Change: We're working very actively with with GTR and so we're.
Speaker Change: We're moving things forward.
Speaker Change: With them.
Speaker Change: Oh, the greatest possible piece.
Speaker Change: Okay, Alright. Thank you very much I look forward to seeing all your activity this year I'll pass it on.
Speaker Change: Yeah.
Speaker Change: Alright, Thank you and once again, if you would like to ask a question simply press star one on your telephone keypad.
Speaker Change: Your next question comes from the line of Patrick <unk> with Gilead H C. Wainwright. Please go ahead.
Speaker Change: Good morning, everyone and thank you for taking our questions Louise here for info Patrick Congrats.
Speaker Change: Congratulations on the latest presentations.
Speaker Change: Yes.
Speaker Change: We are curious to know what your thoughts are around the positioning the commercial positioning.
Speaker Change: Of pillar given that a D CS.
Speaker Change: Seemed to have shown and continue to show.
Speaker Change: Positive results.
Speaker Change: In the same pace.
Speaker Change: Patient population. So you are.
Speaker Change: Probably going to focus on the patients that's.
Speaker Change: Did not respond or not eligible as you set forth for this kind of therapy.
Speaker Change: Is there any other.
Speaker Change: Population.
Speaker Change: That you could target.
Speaker Change: Regarding the Adcs and do you think that there's a.
Speaker Change: Potential also for that combination not just at a sequential treatments approach, but a combination with <unk>.
Speaker Change: And I heard you and other agencies.
Speaker Change: Okay sure.
Speaker Change: Tom here I can start there and then if christophe for others want to jump in they can but.
Speaker Change: Youre right, we do want to target patients, who are ineligible for or who cannot tolerate adcs, but in actuality. The largest population we expect to target will be patients who receive a D. C therapy, and then progress on ADC therapy, Okay, which is going to be a lot very large population the adcs have been.
Speaker Change: Extremely.
Speaker Change: Successful drugs and have benefited a lot of patients.
Speaker Change: They are not cures right and so once a patient takes an ADC after at the appropriate time in their treatment path.
Speaker Change: They will eventually progress on that therapy, and what was at that point lead.
Speaker Change: The best possible treatment options and so we think that we would be.
Speaker Change: It may very well, providing an alternative there that would be very attractive.
Speaker Change: And then I'm sorry, what was the second part of your question. Please.
Speaker Change: We were wondering if there's any potential for combination with <unk>.
Speaker Change: Therapies.
Speaker Change: Yeah, sorry, so so peloria rep in general has proven itself to be a.
Speaker Change: An agent that can potentiate the activity of other therapies, including chemotherapy and immuno therapies. So I think it's a very logical thing to consider in the future. It's not our it's not our immediate path for for a variety of reasons now, but I think at the appropriate time in the future combination therapy with <unk>.
Speaker Change: D. C is under other agents would certainly be something worth considering.
Speaker Change: Okay.
Speaker Change: Great. Thank you and yes. This is Chris I can add a little color you know on the more on the number of patients for you.
Speaker Change: As you May recall, we discussed you know total addressable patient population of 55000 patients just in the U S.
Speaker Change: And when you look at that it's mostly you know if a patient who would have been on one or two.
Speaker Change: And would have initially responded and then you know would relapse, which is you know as you as you look at one or two I mean Yo Yo Yo Yo average PFS is 10% to 11 months. So we know that these patients at some point of time do we need to we need another better treatment and another treatment.
Speaker Change: So you know.
Speaker Change: When we when we build our forecast of that.
Speaker Change: Totaled more than 2 billion.
Speaker Change: That's considered its 55000 patients annually in the U S. And then you know we take.
Speaker Change: A very conservative approach with 15% to 20% market share in this population. So that that's why we believe you know there's a significant market opportunity.
Speaker Change: Okay.
Speaker Change: My follow up question.
Speaker Change: Thank you that was very helpful.
Speaker Change: Great. Thank you.
Matthew: And Im showing no further questions at this time I would like to turn Matthew quick clip for closing remarks.
Speaker Change: Yeah.
Speaker Change: Well, thanks to everybody who took the time to join our earnings call. This morning. This is going to be an exciting year propeller and on clinics with additional data readouts.
Speaker Change: Expected in the planning of registration, enabling studies that can move pella closer to regulatory approval. Thanks again for your support and we will have more updates as soon as we can and wishing everyone. A wonderful day, thanks very much.
Speaker Change: Thank you presenters, ladies and gentlemen. This concludes today's conference call. Thank you all for participating you may now disconnect.
Speaker Change: Yeah.
Speaker Change: Okay.
Speaker Change: Okay.
Speaker Change: [music].