3/5/2024

speaker
Operator

Good day, and thank you for standing by. Welcome to the 270Bio fourth quarter 2023 earnings conference call. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, please press star 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker, Elizabeth Hicken, Head of Investor Relations. Please go ahead.

speaker
Elizabeth Hicken
Head of Investor Relations

Thank you, Operator, and good morning, everyone. Thank you for joining us. This morning, we issued a press release on our fourth quarter and full year 2023 financial results. The press release can be found in the Investors and Media section of the company's website at 270bio.com. 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 with respect to sales, advocacy, and perceived therapeutic benefits of ABECMA, the timing and review of additional studies and regulatory applications for ABECMA, and statements regarding our financial condition, expectations, and 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 Form 10-K quarterly reports 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. On today's call, we are joined by Chip Baird, Incoming Chief Executive Officer, and Vicki Eatwell, Incoming Chief Financial Officer. Anna Treppel-Hartman, Head of Clinical Development, is also on the line for Q&A. And now I will turn it over to Chip. Chip?

speaker
Chip Baird
Incoming Chief Executive Officer

Thank you, Liz, and thank you all for joining. This morning, we disclosed our fourth quarter and full year 2023 financial results and recent business and operational updates. I'd like to walk through some of the business updates, and then Vicki Eatwell, our incoming Chief Financial Officer, will go into detail on the financials. First, as we announced in January, we have embarked on a new strategic path forward as an organization that will be wholly focused on ABACMA. As part of this new path forward, we entered into an asset purchase agreement with Regeneron to acquire our research and development pipeline. I'm pleased to share that we've made good progress on the agreement and continue to believe we are on track to close within the first half of the year. Turning to ABACMA, we're looking forward to discussing our SBLA in the third line at the upcoming ODAC meeting next week. As we've shared, FDA has said they are focused on the overall survival data from the CARMA-3 study, which was presented at ASH and importantly showed a benefit in the Abacma arm when adjusted for crossover. We believe these data support the case to prove Abacma in this triple class exposed patient population. We're pleased to see regulators across other geographies respond positively with third line plus approvals in Japan, Switzerland, as well as a positive CHMP opinion in the EU, which gives us confidence in a potential approval here in the U.S. Our clinical and regulatory teams at 270 and at BMS have been diligent and thorough in our preparation for the ODAC, and we look forward to the meeting next week. From a commercial perspective, the approval in the Third Line Plus setting is a key catalyst for Vecra returning to return to growth. To that end, we and BMS are prepared to meet the anticipated demand in earlier lines and, importantly, to continue to deliver a BACMA on time and in spec for patients in need. These efforts are in addition to other ongoing efforts to expand site footprint and competitively differentiate a BACMA safety and efficacy profile with real-world data. We look forward to educating the community together with BMS on these data, and we remain excited about the potential for BACMA to transform the lives of patients living with myeloma. With these efforts and our extended cash runway, we believe 270 is strongly positioned to see Abecma return to growth this year and deliver for patients in need. Before I close, I'd like to turn the call to Vicki to walk through some of our financials. Vicki, over to you.

Disclaimer

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