Corbus Pharmaceuticals Holdings, Inc.

Hello and welcome to the Corbett Pharmaceuticals third quarter November 10th, 2020 earnings conference call. As a brief reminder, all participants are currently in a listen-only mode. If anyone requires operator assistance during a conference, please press star zero on your telephone keypad. Following the presentation, there will be a question and answer session. Do note that this conference is being recorded at company's request and will be made available on the company's website following the end of the call. I will now turn the conference over to your host, Ted Jenkins, Senior Director, Investor Relations and Corporate Communications. Please go ahead, sir.

Thank you, Operator, and good morning, everyone. Thank you for joining us today. At this time, I'd like to remind our listeners that remarks made during this call state management's intentions, hopes, beliefs, expectations, or projections of the future. These are forward-looking statements and involve risks and uncertainties. Forward-looking statements on this call are made pursuant to the safe harbor provisions of the Federal Security's laws. These forward-looking statements are based on Corpus' current expectations, and actual results could differ materially. As a result, you should not place undue reliance on any forward-looking statements. Some of the factors that could cause actual results to differ materially from those contemplated by such forward-looking statements are discussed in the periodic reports Corpus files with Securities and Exchange Commission. These documents are available in the Investors section of the company's website and on the Securities and Exchange Commission's website. We encourage you to review these documents carefully. Joining me on the call today are Dr. Yuval Cohen, our Chief Executive Officer, Dr. Barbara White, our Chief Medical Officer and Head of Research, Sean Moran, our Chief Financial Officer, and Craig Million, our Chief Commercial Officer. With that, it is now my pleasure to turn the call over to Yuval. Thank you, Ted.

Thank you, everyone, for joining us this morning for our third quarter 2020 earnings conference call. This past quarter has been by far the most challenging period for this company since we started it in 2014, with disappointing top line data in both RESOLVE-1 phase three study in systemic sclerosis and our phase two B cystic fibrosis study. In each one of these studies, Lanabasin did not meet its primary endpoint. This is a simple and rather brutal fact and is part and parcel of the inherent risks of drug development. What is now relevant is where do we go from here? Our plan to rebuild shareholder value revolves around three simple concepts. The first one is we believe Linabasim is an active compound. These trials yielded valuable data that provides us with insight into potential clinical benefit associated with Linabasim in each one of these diseases. Barbara will walk you through the summaries of each of those shortly. We believe that the data from these recent studies demonstrated that linabicin had clinical activity in both systemic sclerosis and cystic fibrosis. They will allow us to map out a potential path forward that starts with us engaging with experts in these fields and other stakeholders. We continue to believe that there is real potential in these indications that could create value for corpus. The second concept is dermatomyositis represents a potentially significant value driver for next year. With 30,000 patients in the U.S. with clear unmet need, dermatomyositis represents an attractive market opportunity that could create substantial shareholder value. A positive outcome in our phase three determine study of lanabicin in dermatomyositis could increase the value of our company. We note recent changes in the dermatomyositis competitive landscape with phase three studies that are shorter than one year. Therefore, we plan to shorten the duration of the determined phase three study from one year to just 28 weeks, accelerating top line data readout to spring of 2021. Sorry, everyone. to the spring of 2021. We are leveraging our pipeline to create value beyond lenabasin. That is our third concept. Corbis is more than just lenabasin. We have a pipeline that has been developed both internally and with external assets. We believe our pipeline contains real value. We are prioritizing development of those preclinical assets that we believe can deliver a data value infliction point in 2021, either in the form of a potential partnership or a meaningful increase in our enterprise value. We are evaluating options for expanding our pipeline further with external assets that offer synergy with our current pipeline and our expertise in taking programs from preclinical development all the way to complex phase three studies. We look forward to our next research and development day at which we will showcase our pipeline beyond the Navisim and the value we believe can be unlocked from it. We are committed to rebuilding the value of Corbis for our shareholders. We have the expertise and the cash runway to do so because of the dramatic restructuring we undertook that significantly extended our cash runway into mid-2022, and with a shortening of the DM study, potentially even further than that. I will now turn the call over to Barbara. Barbara?