Q4 2024 Cellectis SA Earnings Call
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Speaker Change: Please stand by, your program is about to begin. If you need audio assistance during today's program, please press star zero.
Speaker Change: Good day everyone and welcome to today's Selected Full Year 2024 earnings conference call. At this time all participants are in a listen only mode. Later you will have the opportunity to ask questions during the question and answer session. You may register to ask a question anytime by pressing the star than the one key on your telephone keypad. You may withdraw yourself from the queue by pressing the star to key.
Speaker Change: Please note, today's conference is being recorded. I will be standing by if you should need any assistance. It is now my pleasure to turn the conference over to Arthur Stril. Please go ahead.
Speaker Change: Good morning and welcome everyone to select this fourth quarter and full year 2024 business
Speaker Change: Joining me on the call today are Dr. Andres Julika, Archive Executive Officer, and Dr. Adrian Kilcoyne, Archive Medical Officer. [inaudible]
Speaker Change: As a reminder, we will make statements regarding selected financial outlook, including the sufficiency of cash to fund operations, in addition to our manufacturing, regulatory and product development status, as well as product development status of our license partners.
Speaker Change: These forward statements, which are based on our management's current expectations and assumptions, and an information currently available to management.
Speaker Change: including information provided, or otherwise publicly reported by our licensed partners.
Speaker Change: are subject to risks and uncertainties that may cause actual results to differ from those forecasted.
Speaker Change: A description of these risks can be found in our most recent form 20F filed with the Security Exchange Commission, SEC, and the Financial Report, including the Management Report, for the year ended on December 31, 2024, and subsequent filing, Selectis makes with the SEC from time to time.
Andre: I would now like to turn the call over to Andre. All right.
Andre: Thank you, thank you Arthur. Good morning, and thank you everyone for joining us today.
2024 has been an important year for Selectis.
Andre: On the business development front, we were excited to announce the start of research and development activities for three programs developed under our collaboration and research agreement with AstraZeneca.
Andre: So far, we announced the start of one program of analogetic-carty for homological malignancies.
Andre: One program of Phenologetic Carti for Solid Tumors and the first of an In vivo gene therapy of a genetic disorder.
Andre: We're thrilled to grow the strategic collaboration with AstraZeneca, a top leader of the pharmaceutical industry, aimed at shaping the future of our next generation of Sylingine therapies.
Andre: We're very excited about the huge opportunities this partnership will bring in the months ahead.
Andre: Additionally, this year, AstraZeneca completed the additional equity investment of $140 million
Andre: As part of the additional investment, AstraZeneca subscribed for 10 million class A convertible preferred shares, and 18 million class B convertible preferred shares, in each case at a price of $5.00 per convertible preferred share.
Andre: Giving effect to the conversion of class A and class D preferred shares and immediately after the closing of the SIP sequence investment.
Andre: As Praseneca would own approximately 44% of the share capital of Selectis and approximately 30% of the voting rights.
We also drew down
Andre: The two last tranches of the Finance Agreement signed in December 2022 with the European Investment Bank for up to 40 million Euro's credit facility.
Andre: We are now confident that our cash runway allows us to fund operations into mid-2027.
Andre: On the clinical side, we're thrilled to have Dr Adrian Kilcoyne. Ashiq Mubarack, Rory Riggs,
Join us and select this Chief Medical Officer.
Andre: Adrian is a huge leader and a strategic forward-thinking drug developer who's passionate about delivering life-saving therapies to patients.
Andre: He joined us at a pivotal time as we're progressing in our core clinical programs.
Andre: 2024 was an exciting year with a grant by the FDA to our Pro-Doc candidate, QCarte 22,
Andre: As well as an orphan drug designation granted by the European Commission for the treatment of relapse or refractory acute lymphoblastic leukemia.
Andre: These designations represent a step-tower developing widely available allergenic product for patient in need.
Speaker Change: Select this, expect to present the SAZELM data set and late stage development strategy for Yucati 22 in the third quarter of this year.
Speaker Change: In the Natalie 0-1 study evaluating UCARTi 20x22 in relapse or refractory non-hushkin lymphoma, Syctis continues to focus under-enrollment of patients and expect to present phase 1 data set and lay-state development strategy in late 2025.
Speaker Change: In 2024, Selectis Innovation Team Showcase Promising Carties Strategies, Utilizing Payland Gene Editing Technology to target solid tumors and overcome their immunosuppressive tumor micro-environment.
Speaker Change: Prickling to data were presented at both AACR Immunoncology and SITC Annual Meetings.
Speaker Change: And two scientific articles were published in molecular therapy and science advances.
Speaker Change: We're proud to collaborate with leading scientists in the gene editing field who continuously pushes the boundary of innovation and are committed to cancer patients with unmet medical needs.
Speaker Change: This year, Selectis will continue to focus its efforts and expenses on advancing its core clinical trial, Bally 01 and Natalie 01, while building the next generation of genomic medicines.
Speaker Change: to address area of high unmedical needs within our partnership with AstraZeneca and within our proprietary pre-clicled pipeline.
Speaker Change: With that, I would like to turn the call over to Dr. Adrian Kilcoyne.
Adrian Kilcoyne: Our Chief Medical Officer, who will give you an overview of our clinical trials. Adrian, please go ahead.
Thank you Andre.
Speaker Change: As Andre mentioned, Cellectis continues to focus its development efforts on the Barley O'One and Natalie O'One studies.
Speaker Change: Recruitment in Bali, 01, a study evaluating UCARC-22 and relapsed refractory B-cell acute lymphoblastic leukemia has progressed well.
Speaker Change: The study is addressing an important unmet need for patients who have relapsed following previous lines of therapy including the CD-19 by specific Arotologist Tarti.
Speaker Change: We plan to share the full Phase 1 dose escalation data set in the third quarter of 2025 with additional no data presentation planned at the Ash Annual Conference in the fourth quarter.
Speaker Change: Regulatory interactions are planned with both FDA and DMA to align on our Phase 2 Registration Strategy.
Speaker Change: We are currently planning additional study sites in both the United States and Europe , including the United Kingdom, in anticipation of an agreed registration path for a pivotal phase to study.
Speaker Change: We expect the Phase II study to be open for equipment in the 4th quarter of 2025.
Speaker Change: We also continue to enroll in the Nathalie O. One study of our dual-card T-asset U-card 2022 in Relapsed Refractory Non-Hodgins lymphoma. We continue to enroll in the Nathalie O. One study of our dual-card T-asset U-card
Speaker Change: This study is addressing an important unmet need for patients who have relapsed following previous lines of therapy, including when available, an autologous CD-19 to RT. As Andr mentioned previously, we will endeavor to share data for the Phase I program in late 2025 at the ash annual conference.
Speaker Change: Pending data assessment, we plan to transition to phase 2 preparation in 2026.
Speaker Change: With that, I would like to hand the call over to Arthur Stril, Selectices Chief Financial Officer and Chief Business Officer, for an overview of our financials for the fourth quarter in the year of 2024, Arthur Bliggled.
Thank you Adrian.
Speaker Change: We are excited about our partnership and financing activity which have been positively impacting our financial position.
Speaker Change: First, we completed the additional equity investment of 140 million dollars of AstraZeneca and Selectis.
Speaker Change: Giving effect to the conversion of all death research shares, AstraZeneca would own approximately 44% of our ordinary shares and may exercise voting power with respect to approximately 30% of the voting rights outstanding with respect to our share capital.
We are proud of counting AstraZeneca as a strategic chef-holder.
Second, thanks to the progress of our collaboration with AstraZeneca.
Speaker Change: Up to year-end 2024, 47 million dollars have been paid to select this under the Joint Research and Collaboration Agreement.
Speaker Change: of which $25 million up from and $22 million reached development milestones in addition to the reimbursement of research costs incurred.
Speaker Change: Third, last year, we drew down the second tranche of 15 million euros and the third and final tranche of 5 million euros under the Credit Facility Agreements entered with the European Investment Bank, EIB, in 2022.
Speaker Change: As of December 31, 2024, amount to 264 million dollars, compared to 156 million dollars, as of December 31, 2023.
Speaker Change: This 108 million dollars increase is mainly due to 140 million dollars cash received from AstraZeneca as part of the second forms of its equity investment in Cellectis.
Speaker Change: $20 million cash received from the EID, pursuant to the disbursement of the second and third tranches under the finance contract with the EID.
43 million dollars of cash in from our revenue.
Speaker Change: Fulturally upset by cash payments from Cellectis to suppliers of $47 million, Cellectis wages, bonuses and social expenses paid of $40 million, the payments of lease debts of $11 million, and the repayment of the PGE loan of $5 million. $11 million.
Speaker Change: You are invited to refer to our press release for figures related to consolidated metlas attributable to shareholders of Cellectis for the 12 month ended December 31st, 2024.
Speaker Change: We believe that our cash, cash equivalent and fixed term deposits of the December 31, 2024, will be sufficient to fund our operations into mid-2027.
Speaker Change: In 2024, we were able to extend our cash runway through financing activities, the progress of our partnerships, as well as proven cash management for R&D Pipeline and controlled S-DNA expenses.
Speaker Change: We're focusing on Spen on developing UCAR-22 and UCAR-20 by-22, potential new product come to dates, and operating our end-to-end, cell and gene therapy manufacturing facilities in Paris and Raleigh. While research costs on the AstraZeneca collaboration are funded by AstraZeneca.
Speaker Change: We're very much looking forward to providing phase one datasets for our holy-owned clinical product underdates in acute lymphoblastic leukemia, and not much can lymphoma later this year.
Andre: And now I would like to turn the call over to Andre for closing remarks.
Andre: Thank you, Arthur. To close out this call, I would like to reiterate that you are confident about the continued progress of ongoing clinical trials in a metallurgical malignancies.
Andre: As well as how excited we are about our strategic collaboration with AstraZeneca.
Speaker Change: At Cellectis, we strongly believe that our product candidates, our technologies, and our in-house manufacturing capabilities will lead us and our partners to a paradigm shift for patient with heart-to-treat cancer and genetic disorders.
Andre: Positioning out at the forefront of this promising medical and scientific field.
Andre: As previously said, Cellectis will hold calls only when there is a significant information to discuss or if there is a key update on a business activity. We invite you to refer to our press releases for quarterly earnings and remain available to address any question you may have. Andr Choulika, We invite you to refer to our press releases for quarterly earnings and remain available to address any question you may have.
Andre: With that, I would like to open the call for Q&A.
Speaker Change: Thank you. And as a reminder, ladies and gentlemen, if you would like to ask a question, please press the star one on your telephone keypads. You may withdraw yourself from the queue by pressing star two. And once again, that is star one for a question. We'll take our first question from Gina Wang with Barclays. Please go ahead.
Gina Wang: Thank you. Maybe this will be the last earnings call. With that, I wanted to ask the upcoming data for the U-car 22. You said you will have a data in 3Q. Maybe could you give us a little bit more color in terms of amount of data, including application numbers, the type of data point you will be sharing with us in 3Q. And then in what kind of foreign you will share with us?
Gina Wang: Thank you so much for the great question. I'll hand it over to Adrian.
Adrian Kilcoyne: Thank you Jean, yes. So, as we have said over the last few minutes, we would plan to have the full phase one dose escalation data set available in the third portion.
So, again, a full data set. How we are planning on...
Go ahead.
Adrian Kilcoyne: Sharing that, Arthur can update you on. That's not to say we also want to have additional data being shared at Ashiq. As you're aware, they put off for Ashiq in August .
Adrian Kilcoyne: So we'll be submitting data for ash, but we will have a full phase one dose-escalation day set of day-leveling Q3. Alright, so you're moving on to handle. Yeah, and so the specific event, I think we're likely that we'll give you a bit more update as the quarter moves on, but we're definitely targeting something that would be a mad hawk event.
Adrian Kilcoyne: Follow-up at Medical Conferences, including Ash this year, but the data releases likely to be at the MAP Hawk event. So stay tuned, we'll give more details, the very shortly.
Thank you.
Speaker Change: And our next question comes from Jack Allen with Beard, please go ahead.
Jack Allen: Great. Thanks so much for taking the questions and congratulations on the progress. I guess maybe don't telling on the question about you, card 22. I'd love to hear any thoughts the team has, as it relates to how they're shaping up the internal bar for success as we move towards that third quarter readout. Yeah, maybe I'll start there and then I do have a few follow-ups if I could.
Yeah, it's a great question, Jack, thanks for it.
We're confident in the data we have seen thus far.
Jack Allen: We have to put this in the context of what patient groups were looking at here. And we're looking at very heavily pretreated patients, many of whom have been exposed as we said it in the Erning Coal earlier.
Exposed to the CD-19 therapy, including Anatolian's Carti Andr Choulika, Andr Choulika,
Jack Allen: With that in mind though, we're very encouraged by the data we're seeing thus far. So the broad question while we can't share any data through it here, do we have concerns over the quality of the data that would be able to surpass and regulate requirements we believe so? [inaudible] we're very encouraged by the data we're seeing thus far, we're very encouraged by the data we're seeing thus far,
Jack Allen: But we will have ongoing interactions with FDA and EMA in the coming months, and then once you see the data we'll be able to, you'll obviously see much more granularity to that.
Speaker Change: Great, great. And then just two quick follow-ups, more on the collaborations out of things. It's only the AstraZeneca programs that are moving forward quite quickly. Any additional context around, near from milestones, you might expect there, or when those programs condensate a clinic, and then how to think about these programs as it relates to the novelness of the target, to these fully novel programs that essentially meet to kind of parallel programs where auto is already shown proof of concept.
Speaker Change: I know it's a multi-fire question, one other one that I just wanted to throw in there too, was there any updates around the SEVA discussions that you're having with your partner there, or I guess I should say maybe formal partner there as well?
Speaker Change: Thanks, Jack. I'll take the question. So I mean, we're obviously we share the excitement around the progress of the Yester Zennikapas machine.
Speaker Change: I think what's interesting is there's been a lot of very very active discussion and work stream between the R&D teams of both companies over the last few months.
Speaker Change: And we've really cast a pretty wide net in terms of therapeutic areas and indication, as you can see, we're not only in team which was our initial playground, but we're in solid tumors, as well as in in vivo gene therapy. So there's really a breath. [inaudible]
Speaker Change: and the targets and the selection of the targets have been the...
Speaker Change: A lot of numerous discussions with AstraZeneca, so we believe that...
Speaker Change: Each target under these programs has been very carefully selected and will be, will be pretty exciting We're keeping this under wraps for now Progress is very, is very good But we want to be in a position where we present a comprehensive data set both from Envitro and deep open of concept line of site to IND and this is something that we could potentially disclose this year so stay tuned but we're very happy about the progress
Speaker Change: And on the Soviet arbitration story, as it is still an ongoing matter, I'm not going to be in the position to comment.
Speaker Change: Great, thank you so much for taking all the questions. Maybe I'll hop back into Q, but congratulations again on the progress.
Thanks, Jack.
Speaker Change: Thank you. We'll next go to Salveen Richter with Goldman Sachs. Please go ahead.
Speaker Change: Hi, this is Lydia on Prasad, Salveen. Thanks so much for taking our question and congrats on the progress. Just another on U-Cart 22. Could you just discuss a different potential lead stage development strategies and how the data might inform this decision? Thanks so much.
So, again, we are currently. [inaudible]
Speaker Change: planning our interactions with both FDA and EMA. And of course, we cannot prejudge exactly how these conversations will go. So without us publicly sharing our data, I think it's very difficult for me to come further. However, we do believe. We have, um,
Speaker Change: As we see our data, we believe there's a registration path, we believe that's a clear registration path.
Speaker Change: We're just over the next few months. We'll endeavor to get alignment with the regulatory authorities regarding that. So you will see again in Q3 when we share the data. I think again that added granularity will be helpful to you.
Speaker Change: Thank you and next we'll go to Sebastian Vandershoot with Kim Ben, please go ahead.
Sebastian Vanderschoot: Good morning and good morning, I think you're taking my questions. I'm wondering if you're going to listen to the game, maybe come a little bit on where you expect to read this registration trial to be similar to what we've seen from the bottom of the screen. And could you also remind us for the
Sebastian Vanderschoot: Partnership details with the L.O.G. in the same as so, thank you.
Sebastian Vanderschoot: Sorry, the line, your line cut a little bit, can you repeat the first part of the question?
Speaker Change: The first part is regarding whether the potential registration of trial and safety will be similar to what we have seen from Autologous Cartier in Delta ALL for U-Cart 2022.
Thank you. Bye.
Speaker Change: I think as an allergenic therapy, we've always said our trials reflect the unique nature of allergenic cell therapy, so I think but also we need to look at the
Speaker Change: Previous Atalogist Carties in this space were much earlier line therapy, so there is some several differences, but nonetheless as these are what would be all cell therapies, we would expect a similar approach in terms from a regulatory perspective.
Speaker Change: But again, harnessing the unique characteristics of managing Excel therapy. So again, as I said, to...
Speaker Change: previous questions. Once you see the date in Q3 and I would encourage you to come along to our event, I think that will become very clear.
Speaker Change: And I can pick the question on Allergyne. So I'm very pleased about the progress of Allergyne and the assets that we've licensed. So Samasal, which it licensed to survey and sublicensed to Allergyne, and then aloe 316, the CD-17 Rinal Selkar Sonoma. I think Allergyne has laid out a very, very interesting strategy in terms of leapfrogging autologous CD-19 cards in the second line by going straight into first line consolidation. They have a clear line of sight and a clear line of sight and a clear line of sight and a clear line of sight.
Speaker Change: with Selected Alliance for Depletion mid this year, having an interim analysis in the first half of 26 and a potential VLA submission in 27 per their guidance.
Speaker Change: And I think this will be very interesting if the trial is successful. That will be a very interesting read through it to our platform and then be obviously eligible to up to 410 million milestones. Thank you very much.
and Lou double digit royalties on this particular assets. Ashiq Mubarack, Rory Riggs,
Speaker Change: And I think the three ones, the progress of 316 also in renal cell carcinoma is very interesting. This is really the first alo-carty that is making strides in solid tumors and in particular in renal cell. So we're also very excited to for our gene to be sharing a date on this.
Hopefully.
Okay, great thank you guys.
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Speaker Change: We'll next go to Silvan Tuerkcan with Citizens. Please go ahead.
Sylvan Turkin: Good morning and congrats on the updates and thanks for taking my question. Maybe just coming back on the you know the the aloe collaboration you just outlined here to any of these near term.
Speaker Change: You know, maybe the mid 2025 without a tree or any mud sun payments or is that expected rather to be towards the end when we get to interim EFS analysis, then of a follow-up.
Speaker Change: Yes, thanks, Silvan. So we're not disclosing the specifics of the individual milestone payments. I think the only guidance I can give at this stage, I can give two guidance as the first guidance I can give is the overall 410 million milestones for semisal are pretty well spread out across the development registration and sales lifecycle of the products. I think that that would be the first guidance. And the second guidance, which I think is important for everyone, is, is, is, is,
Speaker Change: When we say that our cash runway is mid-2027, we've pretty severely discounted any cash in we may receive from our partners, including Serbian Allogene. So we've been very conservative in the way we've accounted for cash in with the mid-2027 runway.
Speaker Change: Great, that's very helpful. Thanks. And maybe if you could just break down your R&D spend and remind us of the terms with your AstraZeneca collaboration. This AstraZeneca reimburs you for all of the expenses you incur with those three programs or just a portion of it and how much that of you total R&D spend.
Thank you.
Speaker Change: Yeah, it's a great question, Silvan. So basically, the way the AstraZeneca collaboration is structured is the research activities.
Speaker Change: We're doing with AstraZeneca, or Fuluria Reimburs by AstraZeneca. And so when I gave the breakdown of the cash coming from our revenue, this is a mixture of obviously milestones we've received, but also reimbursement of R&D cost. And that has allowed us...
Speaker Change: to partially offset our cash burn back in 2024. So in total, we had a cash burn excluding cash in from partnership of a little bit over 100 million dollars. But the net cash burn had been 60 million. So I would say it was roughly a 40-60 split. Obviously this is what happened for 2024. It is not to tell you guidance for the later years.
Speaker Change: But as mentioned, again, we've been very conservative in cash in when we think about the mid-2027 runway and we've included expenses for potentially registration of trials for both 22 and 20 by 22. I hope it helps.
Speaker Change: Yeah, great. Thank you. Looking forward to the update in the third quarter. Thanks.
Thanks, Ellen.
Speaker Change: Great. Thank you again for taking all the questions. Just a few more if I may. I know you mentioned that you're not going to comment on this EVA litigation, but I guess
Speaker Change: What I sent, are you willing to kind of comment on the potential outcomes here? What are you seeking from this arbitration and how could that play out if you are able to acquire a positive outcome from your perspective?
Speaker Change: Yeah, Jack, it's obviously a great question, but given this is an ongoing legal activity, we're not going to be commenting right now. Sorry about that.
Speaker Change: Yeah, no worries, I have a backup question. So I wanted to ask about the recent discontinuation of cargo's CD-22 targeted asset in post-Carty NHL. That's an autologous program, but I was wondering...
Speaker Change: What if any returns you see as it relates to your UCAR 20 by 22 program, which is an allergenic, Robert?
Adrian Kilcoyne: Thanks Jack, I'll give you just some thoughts on the competitive landscape and then I'll leave Adrian to discuss a bit more about the actual medical implications for this.
Adrian Kilcoyne: I think from the competitive landscape, what was interesting in the cargo story, and obviously it's an unfortunate setback for the field, but what has been interesting is that cargo really proved that there's a clear and met need and market for a non-CD-19 CARTI in that space. I mean, obviously, CD-19 has made a stride. They're now firmly entrenched in the second line. Allogene is trying to get them to the first line in the Allogeneic version. So, let's move on to the next one.
Adrian Kilcoyne: But patients do relapse or can be refractory to CD-19, and there's a clear and net need and desire from physicians to be hitting other targets like 20 or 22. So I think what car will prove that this is a clear market and a fantastic opportunity. Now again, from a pure competitive perspective, the fact that the trial doesn't go through is really opening up an avenue for a non-19 CARTI assets. [inaudible]
Adrian Kilcoyne: which we really want to be occupying with 20x22. And then I'll leave it to Adrian to give a bit more color on the medical front.
Adrian Kilcoyne: Yeah, that's a great question, Jack. So when we look at this decision, again, it is unfortunate for a cargo. We do believe that CD-22 is an important target in this space.
um
Adrian Kilcoyne: But if we look at the rationale, why, one is they had reasonably good CRI, so this is based on their data, so this is my interpretation of it.
Adrian Kilcoyne: Good response rates early by three months, I think it was at 18% CR rate, so they were struggling with durability.
Adrian Kilcoyne: But equally importantly, when you looked at the tolerability profile with the IECHS, that was at about 18% greater than grade 3, so clearly they had that risk benefit wasn't adding up.
Adrian Kilcoyne: And we look at everything in terms of risk benefits. So it was great that we saw that they had efficacy from the target. Yes, that your ability wasn't what they probably expected.
Adrian Kilcoyne: But also they had a toxicity profile now we do not believe that this toxicity is uniquely related to CD22 target and that's certainly something that
Adrian Kilcoyne: We haven't been seeing those kind of rates of IACHS in our program [inaudible]
So...
Adrian Kilcoyne: Overall, yes, it's disappointing for Cardinal, but I do think it is making us double down really because the commercial opportunity is now greater for us.
Adrian Kilcoyne: And I do believe with our strategy, we want to improve on that level of durability certainly. So I think, yeah, hopefully I've answered your question, Jack.
That's great context. Thank you so much for that. Now I'll just-
Speaker Change: I'm going to throw one more out there as you do mention the potential to improve on durability with an allergenic hearty product I know that's been a key question for the field how aloe compares the auto on durability. With that context in mind I was just hoping you can provide any comments you're willing to make on the recent data updates from the...
Adrian Kilcoyne: ALO 501A, MSL program from Allergy, and it seemed like it had some really strong
Speaker Change: Yeah, absolutely, Jack. I think this is very encouraging and thanks for flagging it. I mean, in addition to the progress and the roadmap, they've laid out for Alpha 3 in the pivotal trial and the potential registration indication. I think the data set that was published by our gene back in February on the Alpha Alpha 2 trial are very interesting for two reasons. I think the first interesting takeaway is indeed the long-term durability. And I think as you all know, this was the final question that
Speaker Change: That Allogeneity Cardi had to address is, Can you get durability level that are on par with autologous? And I think the long term data set is from Allogene, which again is coming from our own platform is really giving a very interesting showcase that this is real. And that you can get to these very durable responses with. Thank you very much.
Speaker Change: with Analoginate Carti. I think the other interesting analysis that came from Allogene is really the fact that they've looked at patients with a lower burden of disease.
Speaker Change: which are likely patients that will come into the Alpha 3 trial because this is a first-line consolidation story for MRD positive patients.
Speaker Change: And they've seen a very interesting outcome for the subset of patients. So I think all in all, it's definitely removing an overhang around your ability of the assets, which I think is super interesting, but it's also paving the way for increased confidence into the outcome of the Alpha 3 trial. So thanks for flagging, and I think it was a really, really interesting and promising data sets.
Speaker Change: Awesome, great. Well, I would appreciate you guys transparency and taking all the questions. Thanks so much.
Speaker Change: Thanks, Jack. Well, next go to Kelly Sheet with Jeffreys, please go ahead.
Speaker Change: Hi, thanks for taking my question. This is a Hamfei Foo for Kelly. Just a quick follow-up on your Enrollment of the two program, your CAR-T22 and your CAR-T22. What is the Enrollment progress there, and will we expect any...
Speaker Change: Recommend a phase two dose of your update and how many patients we're looking to. Thanks.
Speaker Change: Yeah, thanks for the question. Well, as you have probably probably understood by this at this time that we are at for 22 because we're planning our interface one meeting. Clearly, this is at the end of phase one. We had planned up to 40 patients within that cohort and we have. And then.
Speaker Change: We have hit what we needed to in relation to that so hopefully that will give you an idea in terms of them.
Speaker Change: The number of patients you're likely to see at our Q3 update.
Speaker Change: In terms of the patient numbers for the clinical trials, I don't want to be to explain too much because those numbers are completely dependent.
on an agreed registration path with the regulatory authorities. Ashiq Mubarack,
Speaker Change: However, we do believe we have a plan for what I would consider to be a realistic number of patients given that this is a smaller indication. We do believe that we can execute a phase two program in reasonably quick time with the numbers we anticipate we will need.
Thank you.
Adrian Kilcoyne: I'd like to now turn the call back over to H.
Adrian Kilcoyne,
for any additional closing remarks.
Speaker Change: I think we're going to hand that over to Andre Silvika.
Andr Choulika: Well, thank you very much, Adrian for handing this back to me and thank you very much for everyone for participating into this conference. We're extremely excited by the
Andr Choulika: 2025 outcome and further for the company and we definitely look forward for the next update of the company and give some guidance for third quarter this year. With that, I would like to wish you all a great day.
Speaker Change: Thank you, ladies and gentlemen, that does conclude today's conference. We appreciate your participation. You may disconnect at any time.
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