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EQRx, Inc.
8/11/2022
Good day, and thank you for standing by. Welcome to the EQRX Q2 2022 Earnings 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 that session, you will need to press star 1 1 on your phone. Please be advised that today's conference is being recorded, and I would now like to hand the conference over to your speaker today, Mr. Neil Swamy, Head of Investor Relations. Mr. Swami, please go ahead.
Thank you, Operator, and good morning, everyone. Earlier today, we issued a press release providing an overview of our second 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 Nalasheri, President and Chief Executive Officer, Jamie Rubin, Chief Financial Officer, and Dr. Eric Hedrick, Chief Physician Executives. Before we get started, I would like to remind everyone that some of the statements we make on this call and information presented in the slide deck include forward-looking statements as outlined on slide two. 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.
Thank you, Neil. Good morning, everyone, and thank you for joining us for our quarterly investor conference call. Slide three is a reminder of our mission to improve health for all with great, innovative, affordable medicines. This is increasingly relevant as we've seen the U.S. Senate debate and advance prescription drug pricing reform legislation this week. EQRx is creating a market-based approach to bring down prices and address inequitable access for patients. We believe our approach will increase competition, foster biomedical innovation, create savings for healthcare systems, and most importantly, provide population-level access to innovative therapies in the U.S. and around the world. Our progress in the second quarter reflects the urgency we all feel at EQRx to advance our mission. Our team remains hyper-focused on execution. And as you'll see from today's updates, we're making progress toward our 2022 goals. We would like you to come away from our call today with three key takeaways as outlined on slide four. First, We continue to advance our lead oncology programs, Omolertinib and Sugamaramab, towards regulatory approvals and commercialization. We are delivering data to support the applicability of these programs to the US population while constructive conversations with the FDA continue. In fact, we just initiated our US-led comparative three-arm phase 3B clinical trial of Omolertinib for the first-line treatment of EGFR-mutated non-small cell lung cancer. We are continuing to execute on our regulatory plans outside the U.S. Recently, EQRx's first marketing authorization application was accepted for review by a major global regulatory agency. This is an important milestone for any company, and I'm incredibly proud that we have accomplished this in such a short period of time since our founding. For sugarmalumab, our anti-PD-L1 antibody, we are anticipating our first global regulatory submission for stage four non-small cell lung cancer outside of the U.S. during the second half of 2022. We are generating and presenting clinical data for our lead programs alongside our partners that underscore the important role of omalertinib and sugarmalumab could play in the treatment of lung cancer and beyond. Presentations in this quarter included ASCO and this week's late-breaking oral presentation at the World Conference on Lung Cancer. Second, turning to our Global Buyers Club, we now have Memoranda of Understanding, or MOUs, in place with payers and health systems that cover more than 210 million lives within their networks. We continue to engage with payers and health systems in their interest in our business model and the quality of our pipeline remains strong. Third, we ended the second quarter with just under $1.6 billion in cash and cash equivalents. You will hear more about this from Jamie, who will tell you more about our disciplined use of capital and control of spend. We expect to end the year with a strong cash position and have cash runway at least into 2025. Let me now turn the call over to Eric, who will discuss almalertinib and sugar malumab in greater detail. Eric?
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