5/13/2022

speaker
Operator
Conference Call Operator

Good day, and welcome to the EQRX First Quarter 2022 Financial Results Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press star then 1 on your touch-tone telephone. If anyone should require assistance during the call, please press star then 0 to reach an operator. As a reminder, this call may be recorded. I would like to turn the call over to Neal Swamy, Head of Investor Relations. You may begin.

speaker
Neal Swamy
Head of Investor Relations

Thank you, Operator, and good morning, everyone. Earlier today, we issued a press release providing an overview of our first quarter 2022 financial results and our recent corporate progress. A copy of this release and presentation to accompany this call are available on the investor relations section of our website at investors.eqrx.com. Joining me on the call this morning are Melanie Nalicherry, President and Chief Executive Officer, Jamie Rubin, Chief Financial Officer, and Dr. Eric Hedrick, Chief Physician Executive. Before we get started, I would like to remind everyone that some of the statements that we make on this call and information presented in the slide deck include forward-looking statements as outlined on slide two. Actual events and results could differ materially from those expressed or implied by any forward-looking statements as a result of various risks, uncertainties, and other factors, including those set forth in our most recent filings with the SEC and other future filings that we may make with the SEC. You are cautioned not to place any undue reliance on these forward-looking statements, and EQRX disclaims any obligation to update such statements. I will now turn the call over to Melanie.

speaker
Melanie Nalicherry
President and Chief Executive Officer

Thank you, Neil. Good morning, everyone, and thank you for joining us for our first quarterly investor conference call. Turning to slide three, our mission is to improve health for all with great, innovative, affordable medicines. We're doing this by creating a network of payers and health systems that are true partners to us, our Global Buyers Club. They help drive the pull-through of our therapies for patients. Our platform aims to align incentives across the healthcare ecosystem and create true population-level access. By offering radically lower prices, we are enabling our Global Buyers Club members to pull through, and the more they save, the more their patients save, generating greater volumes for EQRx. And we are doing this at scale. Our aim is to create a large catalog of high-quality, branded medicines that are equally good or better than what is currently available to patients. Our focus is on addressing high-cost diseases of today and tomorrow, starting with cancer and immune inflammatory disorders. Simply put, we are providing a market-based solution to address the rising costs of prescription medicines around the world. We believe this platform will enable EQRx to be a profitable and sustainable company. Moving to our performance in the first quarter, our team continued its relentless focus on execution. We made great progress in advancing both our future catalog of medicines and the Global Buyers Club. We would like you to come away with three key takeaways from today as outlined on slide four. Our lead oncology programs are differentiated programs with promising clinical evidence. Constructive conversations are ongoing with the FDA to create greater clarity on the regulatory path forward in the U.S. We will share additional details when appropriate. Outside the U.S., we remain on track for our first regulatory submissions for these programs during the second half of this year. Our mission is global, and there are important and sizable market opportunities outside the U.S. We look forward to next month's ASCO annual meeting, where new data will be presented for Omolirtinib and Sugar Malamab, including an oral presentation featuring Sugar Malamab in relapsed or refractory ENKTL, a rare type of lymphoma with no FDA-approved therapies, as well as the first presentation of Sugar Manimab interim overall survival data from a pre-specified analysis in previously untreated stage four non-small cell lung cancer. Second, turning to our Global Bias Club, we converted our first memorandum of understanding to a pre-commercialization agreement, and we will continue to work to progress other MOUs to this next phase. We have multiple discussions ongoing, and payer and health system interest in our programs remains strong. Third, we are very fortunate to be in an exceptionally strong financial position. We ended Q1 with $1.6 billion in cash and cash equivalents, are on track to achieve $400 million or less of operating expenses in 2022, and continue to expect to have cash runway into 2025. With that introduction, I will now turn the call over to Eric, who will discuss omalertinib and sugar malumab in greater detail. Eric?

Disclaimer

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