2seventy bio, Inc.

Good day, and thank you for standing by. Welcome to the 270Bio Third Quarter 2024 Earnings Conference Call. At this time, all participants are on a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to 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 today, Morgan Shields in Corporate Communications. Please go ahead.

Thank you, Operator. Good morning, everyone, and thank you for joining us. This morning, we issued a press release on our third quarter 2024 financial results. The press release can be found in the Investors in 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, efficacy, and perceived therapeutic benefits of 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 factor section of our most recent Form 10-K, quarterly reports, and other SDC 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 accept, 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, Chief Executive Officer, and Vicki Eatwell, Chief Financial Officer. And now I will turn it over to Chip. Chip?

Thank you, Morgan, and thank you all for joining today's call. It's hard to believe that we have six weeks left in 2024. Looking back, we've navigated a tremendous amount of change at 270 this year. As a reminder, we ended 2023 with 277 employees a burn rate of 63 million in the fourth quarter of 2023, and uncertainty surrounding Avecma's earlier line approval and return to growth. In 2024, we've accomplished a tremendous amount to improve this picture. We've successfully completed the sale of our oncology and autoimmune R&D pipeline to Regeneron, including about 160 employees in the majority of our real estate footprint for the next several years. We sold our Hemophilia A program and related technology to Nova Nordisk for $40 million. We received FDA approval in the third line setting, making ABECMA available to more patients living with multiple myeloma. And we've achieved a significant return to growth for ABECMA, with third quarter U.S. revenues growing 42% over the prior quarter. The net result of these changes is that we have streamlined the company, focusing the business exclusively on ABECMA, and continuing to make meaningful progress towards our goal of break-even operations. Our burn rate was approximately 10 million this quarter, And we have 70 employees, the majority of whom are funded through the ABACMA COCOA agreement with Bristol-Myers Squibb. Looking ahead, we're going to focus on two key priorities for ABACMA. First, we're going to continue to compete commercially. ABACMA has an important place in a growing car team market in third-line myeloma. Recent real-world evidence studies underscore that ABACMA has a well-established and differentiated safety profile and has a competitive efficacy profile, particularly when patients receive effective bridging therapy prior to treatment. Second, we are working on optimizing the cost structure of ABACMA to increase the operating margin cash flow from the business. The decision to discontinue enrollment in the CARMA 9 study is an example of the kind of financial discipline we will continue to apply across the business. Together with BMS, we are looking carefully at ways to streamline expenses across clinical, manufacturing, and commercial. As we approach 2025, we are one step closer to breaking even, and as we've said, this creates strategic optionality for 270. We'll have more to say when we get there, but our focus on delivering for patients and creating value for shareholders will remain our true north as we move forward. We'll get to Q&A shortly, but for now, I'll turn it over to Vicki to talk further about the third quarter results. Vicki. Thank you.