2seventy bio, Inc.

Good day and thank you for standing by. Welcome to the 270Bios First Quarter 2023 Financial Results Conference Call. At this time, all participants are in a listen-only mode. Following the prepared remarks, there will be a question and answer session. Please be advised that this call is recorded. I would now like to turn the call over to Jen Snyder, Head of Corporate Affairs. You may begin.

Thank you, Jada. This afternoon, 270Bio issued a press release providing a business update in addition to first quarter 2023 financial results. The press release can be found in the Investors and Media section of the company's website at 270Bio.com. Speaking on the call today are Nick Lashley, Chief Kairos Officer, Tip Baird, Chief Financial Officer, and Philip Gregory, Chief Scientific Officer, Steve Bernstein, Chief Medical Officer, is also on the call for Q&A. 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, 10-K, 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 Fleshley. Nick?

Thank you, Jen, and good afternoon, everyone. Thanks to everyone on the line for joining us as we discuss our first quarter 2023 results. We've had an incredibly strong start to the year and executed across all aspects of our business. Chip and Philip will take you through the details. We don't always host an earnings call, but given the amount of news we've had going on as of late and the overall macro environment, we felt it was important to host a call to highlight what's new and our belief in the future of 270. More specifically, there are three points we want you to take away from this call that we think are key to understanding 270. First, our commercial product at BACMA is not only outperforming, but also has a long-term financial tail. That is to say, we believe that not only is BACMA the first-in-class market-leading CAR T in multiple myeloma space, but also that we see continued growth towards 2 to 3 billion peak sales potential and a strong business throughout the rest of the decade and beyond. There is a view that myeloma is a winner-take-all market and that abecma will decline in future years. The myeloma market, in our view, is simply too big and too complex for any one player to serve all patients. And that is doubly true in a modality like CAR-T, given the complexities of manufacturing scale-up. Given this, we strongly believe in abecma's place in multiple myeloma now and in the future. Second, the pipeline and platform in investments we are making or paying dividends today with more to come. Most of our conversation with the investment community is focused on Abecma, and we're always excited to talk about the product. But we started 270 to focus on building the best oncology cell therapy company, period, using over our last 12 years of experience and capabilities to deliver a cell-based product capable of fully unleashing the T cell to potentially cure cancer. That means investing in the platform, research, and early pipeline as well as enabling capabilities and technologies to drive a revolutionary translational engine. You should expect us to continue to be unapologetically focused on this mission and lever our knowledge and product engine to partner as opportunities arise, but also to be disciplined in how we allocate capital to this part of the business. As you will hear from Philip, we're starting to see clear evidence that these investments are paying off in multiple ways. providing 270 unique optionality, which is so important in these tough macro times. We look forward to sharing more detail at the upcoming ASGCT conference and our R&D deep dive session on May 19th. Finally, we have the financial resources in place to execute on our plan. We did a capital raise at the end of February in a tough environment to secure a runway into 2026, removing any financing overhang. As you will hear from Chip, ABACMA has beaten quarterly estimates yet again, is cash flow positive to 270 today, and is tracking towards the higher end of the revenue range for this year. This translates into what we expect to be a reliable and growing source of cash to fund our operations into 2026 and potentially beyond. That is a very different outlook than the vast majority of development stage R&D companies. With that, I'm going to hand it over to Chip to talk more about the opportunities ahead for ABACMA.