2seventy bio, Inc.

Hello and welcome to 270Bio's second quarter 2022 financial results conference call. At this time, all participants are in the listen-only mode. Following the prepared remarks, there will be a question and answer session. Please be advised that this call is being recorded. I would now like to turn the call over to Jen Snyder, Head of Corporate Affairs. You may begin.

Thank you, Operator. This morning, 270Bio issued a press release providing a business update in addition to second quarter 2022 financial results. The press release can be found in the Investors and Media section of the company's website at 270Bio.com. On the call today are Nick Leshley, Chief Caross Officer, Chip Baird, Chief Financial Officer, and Steve Bernstein, Chief Medical Officer. As a reminder, today's discussion will include forward-looking statements related to 270Bio's current plans and expectations which are subject to certain risks and uncertainties. These forward-looking statements include statements regarding our strategic plans, timelines, and expectations, and statements regarding our financial condition, expectations, and other future financial results, among others. Actual results may differ materially due to various risks, uncertainties, and other factors, including those described in the risk factors section of our most recent forms, 10Q, 10K, and other SEC filings. These forward-looking statements represent our views as of this call and should not be relied upon as representing our views as of any subsequent date. You are cautioned not to place any undue reliance on these forward-looking statements and, except as required by law, we undertake no obligation to update or revise any forward-looking statements. At this time, I would like to turn the call over to Nick Lushley. Nick?

Thank you, Jen, and good morning, everyone. Thanks for joining us for an update on the second quarter 2022 results. Last week, 270 passed the 270-day milestone since the launch of our company. So I'll spend a few minutes talking about the recent company highlights, including the fantastic news announced this morning with our partner BMS on the Karma 3 study. Then I'll hand it over to Steve and Chip for a bit more on the clinical and financial side of the house. After that, we'll be sure to get to your questions. We're off to a great start for the first half of this year. Our 270 team is gelling as we build across several tracks. We continue to treat as many patients as we can, and as previously stated, we're committed to capacity improvements, which we've been able to achieve. We're tracking towards the high end of our anticipated 2022 revenues for our Beckman sales. And on our clinical side, our pipeline continues to progress with multiple clinical stage programs in both BNHL and AML, as well as emerging set of programs in solid tumors in collaboration with Regeneron. Zooming out, the mission of 270 is clear and powerful. Existing standards are good, but not good enough. The immunotherapies have opened the door to the immune system, but are also not yet good enough. 270's ability to design next-gen cell therapy product solutions that both integrate novel technologies and also partners across modalities is unprecedented and exciting. Perhaps George Yannikopoulos from Regeneron recently publicly said that when you're layering and integrating modalities, we are on the trail to the holy grail. This is a statement we firmly agree with. On the financial front, we took the time during the earlier part of this year to reshape our operating model and reduce our overhead costs. We continue to evolve to meet the needs of the growing ABECMA opportunity that BMS recently outlined in their earnings call, including exciting top-line growth. On the cost side this quarter, we saw an increased investment in ABECMA ramp-up activities and higher than anticipated vector costs. You will hear more detail from Chip on how this has impacted our near-term guidance, Importantly, we remain confident in our runway into 2025. Shifting gears, we are extremely excited to share the great news regarding our earlier line study, phase three study for a BACMA called CARMA-3, studying patients with two to four prior lines of therapy. After performing a pre-planned interim analysis and receiving the recommendation by the Data Safety Monitoring Board, the study was unblinded and has met its primary endpoint of demonstrating a statistically significant improvement in progression-free survival. It's hard to overstate our excitement for patients with myeloma. And along with BMS, this news certainly increases our conviction of the potential of a BACMA over the long term. It is both exciting and humbling. With that, I'll hand it over to Steve, our chief medical officer, to give a bit more of the exciting news of today and clinical updates this quarter. Steve?