Theratechnologies Inc.

Q2 2021 Earnings Conference Call

7/15/2021

spk_0: ladies and gentlemen please stand by your their technology conference call it begin momentarily once again like is dumb please stay on the line
spk_1: i know
spk_0: now no good morning ladies and gentlemen thank you for standing by look into this their technologies conference call at this time ah participants are analysts and all the mode
spk_2: following the presentation will conduct a question answer session instructors will be provided at that time for you to to a for questions if anyone has any difficulty saying the conference please press star followed by zero for operator systems at any time
spk_0: i would like to remind everyone that this conference calls being recorded today july fifteenth at a thirty am eastern time now would i like to turn the cockpits over the dems were saved vice president communications the corporate affairs mr was a got it thank you very much mister olive as president and chief executive officer third technologies and mr phillips civic senior vice president and chief financial officer will be the speakers on today's call a to any period will follow their presentation
spk_2: before paul begins his remarks i've been that by their technologies to read the following message regarding the forward looking statements i would like to remind everyone that their technologies remarks today contained or looking statements about it's current and future plans expectations and intentions results levels of activity performance goals or achievements or other future events or developments in preparing these or looking statements several assumptions were made by gary technologies and there are risks that results actually obtained by the company will differ materially from those statements as a consequence the company cannot guarantee that any bored looking statement
spk_0: will materialize and you are cautioned not to play undue reliance on them there are technologies refers current and potential investors to the forward looking information sections of it's management discussion and analysis issued this morning available at triple w dot cedar dot com and on edgar at triple double
spk_3: you da se si dot t v forward looking statements represent three technologies expectations as of july fifteen twenty twenty well except as may be required by securities laws third technologies does not undertake any obligation to update any for a living and weather as a result of new information future events or otherwise i wouldn't like to during the conference over to ball thank you the need good morning everyone that thank you for being with us today much has happened at that find that naji the relax six months as we continue to integrate stepwise changes that are intended to best optimize our business and position the company for long term growth an interesting aspect of our story that is not always understood however is that we have one foot in a clearly established revenue generating commercial business with potential for upside and another foot in an extremely promising i'd line in early stage oncology late stage nach develop in a lifetime a life micromanagement for our commercial or oil we firmly believe that a phase one program it and waiting at worried that i drug conjugate th like you tube or treating sorts in in expressing cancers in our feet three development program that awaiting that some or in and for the treatment of nash both old troops promise to benefit asian communities in areas up on med medical need as well as our stakeholders as we continue to strange and our foundation for growth as we announced today we have completed our discussions with the the a an email regarding the phase three nash program and haven't finalized phase three illegal a trial design and are now in a position to finalize of royal as we reviewed the additional resources that are now required to conduct of the three clinical trial in nash we decided that it was in the best interest of the company in our stakeholders to a than a way to or gg that will allow us to more effectively execute this program including in initiating a search for a potential partners for late stage development while this will outer the plan timing of the face three clinical trial initiation which was previously expected to begin in two three of calendar year twenty twenty one by seeking and securing a partner thing we may potentially add additional resources and capabilities will be of great value as we advance gets exciting program toward a potential approval we have already tick tock this initiative and retain the services of an external us based bio pharma advisory arm to assist in identifying a potential partner in many ways that may sound like a shift from our existing strategy however this could not be further from the truth
spk_4: in prudently shaping the future of thought acknowledges we believe that we are keeping to our strategy in our promise to this earth patients in unlock shoulders value via a two pronged approach innovation and growth through our commercial business and promising pipeline programs
spk_3: what is most promising about our current that position is the fact that we have built a ready to proceed faith read legal trial design providing a very competitive program for a future of partner in particular to some or and and has demonstrated a strong and well established track record of safety and efficacy over ten years of product data in hiv associated like with history we have a strong intellectual property position that was further strengthened by newly issued patents for the treatment of liver disease and extent for do twenty four we've collected extensive data from investigator initiated studies in the hard to treat hiv nash patient population that showed the some orleans unique mechanism of action that addresses in underlying cause of liver disease with it's new potential if they'd formulation and multi those ben injector to someone and could have the opportunity to provide healthcare providers and patients suffering from nash and hiv related nash a new treatment option that me greatly improve it erupts of the some in into treatment of this debilitating disease
spk_2: and more importantly we have received very from the us and you regulators and at finalize a comprehensive phase three nash trial design
spk_3: in terms of regulatory discussions the finalized be three trial design is planned for a multicenter randomized double blind placebo controlled one two one two parts study design to evaluate the safety and efficacy of the some orlin in liver biopsy confirmed patients with any a score or at least or and stage two or three fibrosis the clinical trial also so use the facility analysis that would be conducted after the proper the first approximately four hundred patients have completed eighteen months of treatment and have received a second liver biopsy his will allow us to see if an early treatment effect with to some morning has been observed to determine if the study should proceed as planned we will be in a position to file and as ble after approximately eleven hundred patients including seventy five two hundred people living with hiv i've completed eighteen months of treatment and i've received the second liver biopsy following potential approval and additional eighteen hundred patients are expected to be involved to continue measuring clinical outcomes over a period of five years advice said earlier and will reiterate again with the feedback from the us and you regulators we have built a launch ready faith read develop and pack forward we believe that we are creating a stronger position to unlock the intrinsic value of our next five line as if by evaluating opportunities including identifying a potential partner to bring this ambitious program to develop development and toward approval that strategy will also allow us to continue to invest and further strengthen our commercial business in advance our promising sort one positive technology a through clinical development as quickly as possible turning to our apology pipeline would continue to be very excited about the sword one positive technology and swords and in expressing cancers and our recent discoveries gardner from friedrich will work continued to confirmed the support trinity as i've said before we believe that we have developed a ah targeted peptide drug conjugate that can potentially transform the week cancer is treated just recently we reported briefly calling people finding of the and time it has added effect and tore ability of th nineteen or to further supporting th night you know to his prospects have the promising cancer getting platform technology and sort of in expressing cancers these results demonstrate that th night you know to had better and time at the attic activity when compared to those effects of alone when administered at equal oncentration is in along with asbestos answer model expressing the sword one receptor it is well known that the survival rate from the attic cancer is extremely low and that sort one receptor expression increases as cancers progress these new findings confirm that by targeting sort one receptor ph nineteen or to may potentially be effective in the treatment of metastasis most importantly these brick link will findings if confirming human are promising signs that there may finally be a way to inhibit hard to tweet cancers with a more effective and better tolerated treatment and further broaden the cancer types that can potentially be treated with our sort one positive that knowledge our third one positive technology including th nineteen you to is truly groundbreaking answer treatment approach based on it's mechanism of action and compared to cite the toxic drugs like those effects sell or docile rivers in th nineteen or to allows for increases in interest other concentration of the with toxic payload offering a different pk profile one increasing the therapeutic window of the side too toxic drug being conjugated what is also extremely important when comparing th ninety know to twenty quid muller jones concentration of the cycle toxic drug like those it's xl long is the absence of neutral been in our preclinical models to each night you know to has not shown to induce neutropenia potentially allowing for sustained tree men better tolerability an increased advocacy of teach thank you note in terms of what to expect next for this program based on the grand progress of the trial we plan to provide a safety and efficacy antrim read out from the phase one part a of the study in queue for this calendar year by iran's we expect to have completed the park a those escalation study to establish the maximum tolerated those and informed that next step of the phase one part be basket trial which is expected to begin in early twenties when into when we think about the potential run wait for growth that is ahead of us especially as we move our pipeline a potential medicines closer to approval it is helpful and insightful to the back at how the biotech market as mature again last decade one thing of note that as to doubt the last few years is just how resilient the biotech industry has been this is the case whether we're talking about driving innovation in healthcare or talking about biotechs legitimacy as an investment class investors are looking to the sector for sources of new technology innovation and approaches that will transform patients life
spk_5: at depth or technologies we have a my in our own way forward with these ideas in mind to keep up with change drive innovation and a bomb our visit in anticipation of the strong growth that is to come with taking cues from the biotech industry historically the and model best in class standards that lays a strong
spk_3: emphasis on the need to address three key areas of importance the price building talent second it's handling complexity and finally improving commercial and development execution on this verse area of importance we've placed a strong emphasis on near term execution to best position ourselves for success when you look at our recent investment which expand our human capital we have brought on experience talent that are assuming critical leadership roles and trained to successful execution of our strategic objectives recently we welcome the other they'd paused or vice presidents who will need our human resources arched mr depart brings more than twenty five years of experience in and was more most recently vice presidents of human resources at the mention pharmaceuticals andrei will ensure that we are attracting the very best talent in the industry to help us grow the business any will ensure that we retain our current exceptional google employees
spk_6: in addition daniel bought was brought on to the our business and corporate development efforts and it's new created role daniel will support the company's commercial and are indeed strategic partnerships and alliances and assistant building our our relationships in the industry
spk_3: having strong leadership and these key positions gives us the ability to manage the complexity of operating a commercial and orange the business through the pandemic and beyond
spk_7: we really look forward to the or leadership and the contributions and they will bring the third technologies in their respective yielded emeralds
spk_3: turning to the second area of important handling complexity i think nearly every company in every industry can point out for the cool with nineteen and then make as a prime example of how the organization as handle complexity during this time for us to have been centered around our commercial business to that and symphony one of the leading data providers for the industry published data on office visits pertaining to hiv diagnosis during the pandemic looking at the data the most significant take away related to our company was that through twenty twenty and into early twenty twenty one overall genomic resistance testing was down twenty five percent compared to previous periods this is pretty significant that this data data thirds as a general proxy for industry and at the high level is indicative of the pervasive challenges that we faith in that first half of the here as many of you are aware genomic testing is a prerequisite for initiating specialty hiv drug treatment liked regards during the second quarter we continued to see this impact that were top my results in particular to of article as patient prerequisite testing continue to be hindered by the pandemic related strains on healthcare facilities and physicians the introduction of competitive pressures from newly launched therapies for the women treatment of hiv may have also impacted the us sales performance of for guards old during the poor indeed you we continue to work toward obtaining an appropriate price and widespread reimbursement for for a when european countries and believe we have created a strong foundation for medicines for when the pandemic associated lockdown measures are fully lifted nonetheless both in the us and eve we have continued to enhance our medical the is all teams and community outreach engagements as we look to build the syria further as patients get ready to resume doctors appointments again concurrently we continue to prepare you see peace to the better inform and would better resources to prescribe are medicines helping to ensure that patients had the or to prescribe treatment plan as the move through their patients journeys in the effort to improve their overall health and i touch upon the third and final area of importance and brewing commercial development execution we continue to take the necessary proactive measures to build down our commercial business lol being mindful that the short term impact on covert on the industry may continue in the us and your that we have fully exhibit a sustain challenges related to the pandemic
spk_4: when we think about where we want to be with regards to sales following a full exit from the pandemic we remain optimistic
spk_3: we believe the sales marketing and educational support infrastructure that with bill started to bear fruit on the riptides be sales rank this water which route twelve percent over twenty twenty we are encouraged by the incremental gains in a grip desi sales in the first half of the year and believe that this is indicative of or pay asian activation efforts and digital strategy to support patients to initiate our therapy these continued efforts around our hiv business are intended to be a catalyst or a steady an incremental ramp up and read the news going forward and we'll also serve to reduce execution risk all the way through to the commercial stages of our pipeline editing we are firmly grounded in these near in long term initiative and we are executing on our strategic operate lands accordingly while efficiently deploying apple in managing operating expenses looking at the will rob business i believe we have made battle will progress in twenty twenty one thus far
spk_8: and i can say with true conviction that we have executed against our strategy as reflected in a better stronger organization with a talent pool that is aligning with our growth trajectory in ambition
spk_3: within that would like the term the car over did that it now to discuss the second quarter results than a please go ahead
spk_8: a thanks paul and that good morning everyone
spk_3: consulting revenues for the second quarter of fiscal twenty twenty one where seventeen point eight million dollars an increase of four percent over two to twenty twenty loosely due to an increase in a grifter has v sales and hampered by lower sales of for garza
spk_8: it's of a grifter as v were ten point three million dollars of twelve percent from the same period last year we we recorded sales of nine point three million
spk_3: unit sales of a grifter relived relatively stable compared to last year but net sales were better you to hire net selling price and lower rebates to come from a years given the switch from a drifter as he from the old version of a grifter which carried i are percentage discounts and a grifter as the
spk_8: toronto revenues were down six percent year over year as a result of lower sales to specialty pharmacies the effect of the ongoing covered ninety pandemic resulting in difficulty for patience to visit healthcare facilities to meet with physicians and obtain their intravenous infusion competitive pressures and slightly higher rebates as well
spk_3: he sectors were partially offset by a higher selling price recall that into to twenty twenty at the beginning of the pandemic net sales of to garza were positively impacted by unusually large orders i pharmacies which have since since stabilized in the e u
spk_8: while the covered situation is still problematic mostly with respect to patients getting on board it on therapy or team in europe continues to identify patients we believe that the latter part of the year may provide think your incremental gains pricing discussions are progressing in the you and reception has been positive with this in mind we have laid the groundwork to growing revenues of the thirteen are these franchise and expect to see our efforts bear fruit from the strategic initiatives cost of sales in two to twenty twenty one was down to five point nine million dollars compared to seven point three million dollars for the same quarter last year the decreases mostly due to higher gross margins on a grifter has the compared to rift up as well as a lower transfer price for to bars garza given the achievement of a predetermined amount of net sales in que three of last year
spk_3: in the expenses amounted to six point four million dollars in two to twenty twenty one compared to three point six million dollars for the same quarter last year this increased is largely due to higher spending in oncology with the initiation of are facing trial
spk_8: increased activity related to our nash program including on the new f eight formulation increase spending in medical and paste education as well as higher medical affairs initiatives in europe for the three month period ended may thirty first twenty twenty one selling expenses were on par with you to twenty twenty and were stable at six point nine million dollars dna expenses amounted to three point nine million dollars to to up slightly from three point seven million in two to twenty twenty increase in ginny expenses is largely due to increase overall business activity in twenty twenty one compared to twenty twenty is increase is partly offset by one time
spk_3: items incurred in twenty twenty as a result of the retirement of the companies previous ceo in two to twenty twenty one we recorded one million dollars in debt financed costs compared to one point four million dollars into to twenty twenty as previous take a previously stated finance cost comprise of interest on convertible notes as well as accretion expense
spk_0: net finance costs in twenty twenty one were reduced by foreign exchange gains a three hundred and seventy eight thousand dollars
spk_8: for the second quarter of twenty twenty one we recorded a negative view the top of two point six million dollars compared to negative one point five million dollars last year the difference is mainly due to a hardening lost during the quarter
spk_3: for the second quarter twenty twenty one or operations including variations in working capital used approximately seven hundred thousand dollars of cash which explains why are ballon our cash balance has remained virtually identical to that of february twenty eight twenty twenty one at approximately fifty seven million dollars i will not turn the call back to paul for some closing remarks i think that if the looking back at the first half of the year we're pleased with the organization that we applicant innovation that we are developing is really special and had the ability to greatly improve and in many instances transform patients' lives across areas of high on med medical needs i will look to carry this momentum through the remainder of twenty twenty one i am ever the more confident that we will improve our commercial business while advancing our research pipeline
spk_7: in the short term our priority priorities remained focused on delivering growth from our commercial portfolio completing the those escalation part of our ecology triumph and of course exploring opportunities including finding a potential partner to maximize the value of our faith three nash program
spk_0: it would that we will now opened a call to take your questions as the operator mentioned at the beginning of this call i would like to remind you that you can submit a question in written for the at the webcast flat or please register on the webcast link which is available in the event section of our investor website to some it your question
spk_9: ladies and gentlemen who have a question or a common at this time please press the start in the one key on your touched on telephone if your question has been answered he was remove yourself from the queue please press the pound key
spk_10: first question comes from under and with research capital the morning everyone no thanks
spk_2: in terms of on your nash potential partnership which i think is actually a great idea can you please describe your ideal partner
spk_3: will you look for them to fully funded the phase three trial or we look to code develop it and then later poll promoted and also with this potential partner would you look to call promote a grifter for hiv while take your draper for the question and i'm glad you feel that that way it's it's certainly ah you know a position of strength that were facing at that time we have it approved for a thorn in our lap you're not too many companies that can actually in such an area when med medical need you know be that in a position like this when it comes down to the ideal partner i think that it can take different four minutes kind of to or lead to actually are take a look at all the possibility that are ahead but they're certainly the one that comes with you know ah code development cold promotion so or ah commercialization down the road other companies may decide to actually that one when best that the want a d v it would want us to continue the development and maybe added a piece of the commercialization are on so i think that you know we have already with our adviser on you know have done a mapping of the potential pharmaceutical companies a big companies medium size with an interest in dash and we know what these comp
spk_10: these are and i think that the will see down the road what type of partnership weekend fine with them but one thing is for sure
spk_3: nobody knows on the some more and more than we do so we we need to actually eat that you know investing keep the unfolding our plan and were fully committed to put that to life i you know with a partner oh with other money or means that we're going to find in the upcoming months and just also on the business development front are you looking to add any new commercials these products that you think would fit with the years current sales force and the answer is yes we are on the lookout ah and them this is a strategy that makes a lot of sense for us because we've got to products in the back in the us we have only one product in europe so we'll take a look at how we can identify what i own a drug companion that could actually energize with the football
spk_10: new that we have and that would increase a critical mass of assets that would make sense for the target of doctors that we are at calling i met this time so why we will actually do some work we've already started again the pandemic made some of that more complicated but we will look into it and we'll see if we find that sweet plot again with or the ideal companion answer false alarm of course in your to saw that there isn't a grifter phase two trial been run with one hundred hiv patients with m c i a mild cognitive impairment
spk_0: can you discuss how the straw came about when the results for that robert sparked roughly if you know
spk_2: it's own the want to handle this are absolutely yes on think to put a quest and i don't want a you remember what we have done first a number of years ago a study in nani taken the drop a police and in my code cognitively impaired patients ah with doctor be pure low and we have shown positive results following that studied are also studies showing in hiv that an increase waist circumference is also associated them with mild cognitive impairment and doctor fred south her and ron alice have been working what us
spk_10: the star got trolled and that's trial has been ongoing for a number of probably about two years now are we old that the recruitment will be completed in twenty twenty two and it is a six months that he that we should potentially see results and twenty twenty three ah and it's it's a good rational or base a base on the preceding cities of
spk_0: we're done with a grifter
spk_11: so all the patients in that trawler hiv
spk_0: all the basins in that trial or hiv is linked to a city that doctor run a less epidemiological study that doctor run with at dawn in the past showing the link between increase increase weights or companies which is increased distraught owes this you are or ectopic fat and decrease in ca
spk_12: ignition
spk_13: thank you from
spk_0: or next question comes from edward nash with can afford you naughty hi tech the more guys
spk_3: i saw a one of the understand so i know that we just the protocol now i'm approve i guess officially but we've known since roughly almost a year ago now that the you we're not going to be allowed or the agency was not going to be receptive he'll looking at only nass patients they were of the had hiv so i just cannot understand now that your nap now that you're deciding to to partner with your cash balances what it is it's which is gonna draft decision that that we are to can do new your cat bounce was them to discuss what's changed between since last year in and now with regard it's too your your decision to look for partner for the the three mass wow thank you very much listen what has changed is that them that the cohorts i have now has increased ah in that through the negotiation with the agency's and the mask where digital monitoring to be done and the monitoring it's something that we had partially anticipated that that's the type of thing that comes out when you negotiate eight with our the agency's all of that is increasing costs just about twenty five percent twenty five percent over the period of time with that trial a significant and i think that this is the sweet spot now that we are facing because we have we have a portable that is ready to proceed and i think
spk_7: if there is a moment where we can with credibility
spk_2: attract and discuss with a potential partner it is now you know having done that six months ago i'm you know we were in the midst of interacting with the agency's at that time so like you know or is that it would have asked his tell me more and i think that we would like to see if the partner wants to actually be part of
spk_13: of the beginning of that trap so this is the moment that were in it's the ideal time i think that if the partner would like to where you know a team of take a look at the protocol ah it's not too late we can now we can i you know do different things if needed for the protocol is ready to proceed and we have on the confidence in the world that this protocol would have this to an approval so going back to your question i think that you know what has changed is the additional costs the complexity of this trial and i think it's prudent in probably a good thing that we explore ah the up watching t of having a party you're in at this time
spk_3: thank you for your question not they tell us how cold it and i guess the second part that is this with regard to modeling the from an obvious could go the skin take many different forms as you mentioned
spk_14: a bit of the six they free the company's running faith free right now from after all they're all in this alone
spk_13: and just going to know on that side of have you already guys have have you already had people having accessed
spk_0: you know your the data on a confidential basis at showing interest or is this kind of an effort that now now that you have am pt guy on board as the something this is now starting new it from scratch while i'm not going to get into the details like that the outreach has started and the discussions are ongoing and i cannot reveal where we are but that this is serious stuff there is a fair amount of interest at this time men were going to go through the that process step wife and i will let you know once we have
spk_15: more to say
spk_0: a disgrace in and molasses as with regard to the fate of formulation the pen for relations to remind us again when you'd better have that term available for i'm to replace the grifter se
spk_16: to sell the one want to absolutely d the plan is to submit the those yeah and the first quarter of twenty twenty two that it should be available i said it's a a five month review than it should be available towards the third fourth quarter of twenty twenty two and the main reason is that we need to gather more the dorothy like the a faith is relatively new and we are gathering staple to detox our partnership like
spk_2: great thanks so much guys
spk_16: on next question comes from and relented with national back
spk_3: i'll i'll add it up again with with an ass out a couple more after that but that's a question how that what possibility for see that apart
spk_2: now stayed upright on agreement
spk_3: would you mind repeating your question because the line with and all that clear and we couldn't hear you very well sure yeah
spk_2: so what is the possibility that you guys are see that a partner may ask for a general nash data prior to an agreement
spk_0: well i mean they did this is an interesting question but you know we've gotta read the in to proceed protocol at that time that has been negotiated so you know i think that the it to agencies were you know pleased with when we actually a presented in front of them
spk_2: and quite frankly over the last twelve months we have broaden our support for to some more the and in the general population you wouldn't remember that against the disappointed been a pretty long journey you know we started with you know having an interest in mass in the hiv population and be you know base with based on our early interact with the agency's we actually were told that we should nicety think about the general population and we actually look up over to that and we ended up you know running at were support the you know on the experts in the industry and i think now we're all set to go
spk_16: it sounds you want what anything in immediate and we just to i go go back in the scientific side of the mechanism of action there's a clear association between decrease release and g eight an increase this was deposed issue and increase and liver bad and both a simple police and none ha the and he tried the room and that's really the mckenna of vaccine that are targeting the or think that we have done so far we have done said he with a grifter and bow hiv and then hiv and boat basin population we have shown a good similar degrees in this whole post issue and in the hiv population v
spk_17: have shown the degrees and lever path of about forty percent which would think it does the same because there's a good correlation between the degrees in this world owes these you and liver bad therefore in the general public it's of the summer and all of our experts that who work and then an expert at who worked with told us that this is the best the best when the best approached
spk_2: to go them were very confident with the data that yeah and it was ordered by the regulatory agencies that we can go ahead and move in the journal the place a great think you have that actually why it one more perhaps for a christian
spk_3: if you can plead pressure on the current and point that for the last protocol vs your pirate occasions
spk_2: felt already update
spk_0: a year for i you mean for our forty griff that nasa in terms of the and point for vr for a piece retrial yes please
spk_16: yeah what what we're looking at the moment is a normalization in the last or patients will be i will have enough or up or and more at the entry and fibrosis of two or three were looking at the normalization of mass in ten percent of the basin this is a primary and way
spk_3: when without any get to them back on fibrosis
spk_8: but fibrosis will also be assessed and fibrosis will be a secondary and point and base on the data and recent publication from doctor number we know that the decrees of thirty percent in lever fat is associated with normalization of mass and is also associated with degrees of fibrosis then were quite confident in those two and point port of these people program
spk_18: great that that you might other question is more to do with the sales in the quarter for truck are so i you guys are able to provide a bit of a breakdown of the six percent decline and how much of that would you to lower volume how much the company
spk_2: obsidian then the have a few i think the you had a few statements in your speech and yuma head oh sure sure sola andrey it's it's really a mix of of everything to we are we did see lower lower up you did volumes
spk_16: you know took ours has been more affected by the the pandemic yeah especially if you know when immutable compromise patients are told to stay at home so that that was affected the united infected the up the unit sales it affected new prescriptions as well remember last year there was a huge spike in orders from miles from mob pharmacies at the beginning of the yeah the pandemic so that can a normal doubt a little bit between it during that quarter last year
spk_3: but still inventory levels at the end of last quarter were kind of high so it it's really good and a mix of everything that resulted in this minus six percent in sales i know great i think you better as a little more into i'm actually volume like what are you know what to expect he over the next few quarters any given that most of the things are pretty much open it he left the last quarter and as we keep starting to run up with fact males or ball instantly flattened or up below are picked up
spk_16: well thank you for you that if it for the questions we are into did for growth of the we're committed to what regards the we're committed to a grifter the good news is now that the feel voice a in our our up and running again a face to face cause are increasing in august be that the best way
spk_19: we can get the our messages else who what to wear our physicians and patients somehow so i you know we are in optimistic that work in it be firming up the performance of both asset i think that has slowed down has slowed down in europe due to a pandemic under lockdown
spk_8: well now we will resume our pricing any cohesion what is important to me quite frankly that this drug proviso be relevant to patients and each cp and then gonna work hard because we know that they need you know our tentative to treat their patients so we foresee growth when both asset in the upcoming months we're going to work hard to make that happen and i think that the and i'll i would leave it at that for now great thank you and one lot one for me i'd get a job in terms of cost caught how did he them over the next that to four quarters
spk_16: that if you want to think that
spk_3: yeah well until we are we start than as trial i think you can pretty much assume that the you non yes in a friend and even on the are different it should be relatively stable so until we we do start the nasrallah it
spk_0: discord or is probably a good proxy
spk_20: great thank you very much
spk_3: edit the a young laying on either on your question again i'd like just to say that you know there's new dynamics going on in hiv as new competitors are launching ah but at the same time you know the the market is moving to long acting we had a long acting on on the proviso so we're going to make you were going to make sure that that gets to our positions and that the see the benefits of prescribing provides oak in the mix of drug the need to take ah or to prescribe to control patients
spk_2: again ladies and gentlemen have a question or a at this time please press the star than the one key on your touched on telephone
spk_3: i did seem the as we do not have additional questions from amla will now turn to questions submitted by other participants and riding ah the first question that we have is ah if there is a time frame that you expect to finalize the
spk_2: partnership in nash well as we said today i think it should be here that lanes willing to look at all the options that the app and i said we are in position us train it very important that we take a little bit of time now and somehow we've been slow down to better accelerate in a few months
spk_3: it's is a long journey i believe we can find a partner that will bring resources but also capabilities i think that the you know the a slowing down aspect of this i will be forgotten very very fast so what is more important for us at this time it's really to find the ideal partner and i think
spk_21: that timeline will take care of itself along the way a couple another question year are if we don't have to find a partner ah a would we decide to proceed on our on are just give up on it
spk_0: well we'll certainly not going to give up we have that you know a protocol that we weren't have absolutely lead hard to get to where it is now and then i that can actually make that into the market you know or is that second or third and and dad be extremely relevant in an area on method or need so we're just as i
spk_2: i said at the time it's premature to have to actually go work i speculate the world over what would happen but the partnership is on the table at this time with got an advisory company that is helping out the process has started the outreach is on and now will it will actually meet these organizations unveiled the
spk_0: data get them to see what we have seen it them to actually interact with the advisers and he well that are supporting this and i'm very confident that the gonna ones who actually be part of it
spk_2: a clue before we are
spk_0: and go on with more questions i'd like to remind of participants that you can submit a questions in writing on the web cat platform so if you do have the questions of these so don't hesitate to submit it ah now on the oncology a platform are given the timeline presented a during last oh wow i gas ah can it be assume that are we are in the ah therapeutic dosage level of the feedback so the and provide and of the yeah absolutely i have i won't go into specifics of the trial and see know the i where we have to manage to study on break and financially to some extent and makes for a bad or a be announced something that everything will be validated but at the moment the recruitment is going very well i were recruiting pay
spk_2: asian and those escalating every the three to four weeks we i could do it every three weeks but by the time that we recruit the following basin and that everything is done ah and we have the appropriate the that from the prior cycle than it's going i'm increases my breed be the for weeks and we started the first base and as you know on march twenty three
spk_3: er and the city's but is proceeding while and we also now have increased the number of sites so we started with at first sight of doctor side get as bird and the other soon has been open for few weeks and we now have opened to additional sites for recruitment and gives a chap ah we have another question read harding hi the on policy platform regarding the number of patients that have been nosed so far as if are all for centers as and roll patients ah at the moment all for centers are active and screening basins of the moment yep two sites that who to the basins ah but in the coming months yeah or sites will also have a sense to this program and you very much ah them
spk_2: regarding our hiv business ah with the focus of that increasingly on on oncology ah so what's our what's our what's to to to think of the a tiny bits luggage i do business is that we've got a commercial ah a lane to our business and
spk_0: we're generating revenue so we shouldn't be a shame of generating revenue it's a good thing in what is more important to be is even the fact that we are building capabilities for the future i'll we had an organization in europe we have an organization in the us were calling on doctors we've got msl on that around were doing what midsize large sized arm are doing and that's gonna be handy in the future ah especially as the nash program is going to one old i think there's going to be long pre launch phase associated the that are having people on the ground capabilities having people who know inside out what a great they thought about will be a great asset for ourselves and also for a potential partner so a detainee business for now it's important at generating revenues and allows us to build capabilities for the future and you are going back to the oncology platform or in terms of the
spk_2: efficacy of are there any expectations are coming out of our phase one as you get know committee own start with the with the objective of this phase one trial which is really to determine what will be the next month break and those of the drug which will be the those of of use in the face to however as your know that studies done in cancer patients that are advance and our resistance to prior to friedman and it is possible that we observe some efficacy ah and this is why we think days and the number of cycle and the length of time it takes to confirm if there's a response because if we see an impact and it's tumor shrinkage we still need to wait to three months before we can confirm the response that would be to possess and to ah evoke some information and deport quarter of twenty twenty one
spk_20: and her naked discounts on one additional question in terms of of a safety of there are we expect to see it's neutropenia at ah that schedule doses
spk_0: ah once again this is the same thing it's are gonna talk about the results are to those that were of exactly and the moment ah however based on the animal data that we have seen and based on the ducks program that we have conducted we firmly do think that we won't see you to kenya at equal motor concentration of dos attacks on our that who are gable
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