BiomX Inc.

Good morning and welcome to the Biomex first quarter 2023 financial results and corporate update conference call. Currently all participants are in a listen only mode. There will be a question and answer session at the end of this call. I would now like to turn the call over to Marina Wolfson, Chief Financial Officer of Biomex. Please proceed.

Thank you and welcome to the Biomex first quarter 2023 financial results and corporate update conference call. The news release became available just after 6.30 a.m. Eastern time today and can be found on our website at biomics.com. A replay of this call will be available on the investor section of our website. Before we begin, I'd like to review the Safe Harbor provision. All statements on this call that are not factual historic statements may be deemed forward-looking statements. For instance, we're using forward-looking statements when we discuss in the conference call potential market opportunities, the design, aim, expected timing, and interim and final results of our preclinical and clinical trials, the sufficiency of our existing cash, cash equivalents, and short-term deposits, and the potential benefits of our product candidates. In addition, past preclinical and clinical results, as well as compassionate use, are not indicative and do not guarantee future success of our clinical trials. Except as required by law, we do not undertake to update forward-looking statements. The full safe harbor provision, including risks that could cause actual results to differ from this forward-looking statement, are outlined in today's press release, which, as noted earlier, is on our website. Joining me on the call this morning is Jonathan Solomon, Chief Executive Officer of Biomics. With that, I will turn the call over to Jonathan.

Thank you, Marina, and good morning, everyone. Biomics continues to make significant progress with the development of our lead product candidate, BX004, for the treatment of pseudomonas arginosa, or PSA, infections in patients with cystic fibrosis, or CF. In February 2023, we announced positive results from Part 1 of our ongoing Phase 1 B2A trial. These results were better than we had anticipated, particularly with respect to the notable reductions observed in PSA bacteria burden. Enrollment in Part 2 continues to progress well, and we expect to report results in the third quarter of 2023. As a reminder, in Part 2 of the study, we're dosing CF patients with BX004 twice a day at over a longer 10-day treatment period compared to Part 1. Part 2 of the study is designed to provide additional data on safety and reduction in PSA bacteria burden, along with other exploratory endpoints. As a reminder, PSA infections are highly pathogenic and represent a leading cause of loss of lung function in people with CF. After a CF patient has been infected with PSA in his or her lungs, it is exceptionally difficult to fully eradicate the infection, even with multiple courses of antibiotic treatment. PSA infections often persist over a period of several years. Unfortunately, treatment with antibiotics begins to wane over time. BX004 is a therapy that is designed to directly address the significant and unmet medical need in CF. I'm pleased to note that we had the opportunity to strengthen our balance sheet during this quarter after announcing Part 1 results. On May 4th, we closed the second part of a private placement, which altogether raised total gross proceeds of approximately $7.5 million. We would like to thank our existing shareholders, which include Orbimed and the Cystic Fibrosis Foundation, who led this financing. As a result of this funding, together with our existing cash reserves, we expect that we'll remain well-funded through the time period when we expect to announce Part 2 results. In addition to strengthening our balance sheet, we also have the opportunity to expand our Board of Directors. Last Friday, we announced the appointment of Jason Ann Marks and Michael E. Dambach to the Board of Directors of Biomics. Jason most recently served as Executive VP, Chief Legal Compliance Officer and Corporate Secretary with Ameren Corporation. And Michael is vice president and treasurer of Biogen. Both of these highly accomplished individuals bring in-depth corporate experience to our boards as seasoned executive leaders within the life science industry. As Bioma continues its plans to grow and expand the BX004 clinical program, Jason and Michael will undoubtedly bring invaluable perspective to help guide our decision-making on a wide range of financial, regulatory, and legal issues. I'd now like to turn the call over to Marina to review our financial results for the first quarter of 2023.