Calithera Biosciences (CALA) 8 Aug 212021 Q2 Earnings call transcript

Good day and thank you for standing by. Welcome to the Calithera Biosciences’ 2Q, 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation there will be a question-and-answer session. [Operator Instructions] I would now like to hand the conference over to your speaker for today, Stephanie Wong. ahead. go Please

Good XXXX operator. Welcome our to Thank Call. afternoon, quarter Conference second you, everyone.

Joining Susan this at our today overview operational Orford, a me results, are release, calithera.com. of Chief and and press be XXXX Medical Keith our CEO; which second Officer. financial included can website Earlier which afternoon, quarter issued Molineaux, we an Founder, and President through accessed

in remind plans of you XXXX. about we prospects that of discussion our Risk Private Before like begin, filings Act statements a statements expectations, from would Securities statements Factors will with the differ materially provisions periodic as the forward-looking those discussed indicated result our constitute to of Reform factors, future the of Safe and results I that include Litigation these important forward-looking purposes under Actual today's section by for various SEC. Harbor the may those including

of represent of In should any statements as addition, relied any subsequent views not forward-looking only date. our today as our be and upon representing as views

at we statements update call turn our to And that, change. so if elect point in specifically call to any the these to I do even forward-looking future, is obligation that over note being may this Please views disclaim the recorded. While will we with some Susan.

lung treatment telaglenastat the quarter, continues care oral focused for cell cystic today with cystic Thanks, fourth on in data and programs, on second Xb you or to second and continued in of our in our combination CB-XXX on cancer remain our trial us chemo to we enroll objectives, Phase of CB-XXX arginase patients XXXX and fibrosis. against inhibitor non-small the genetic Stephanie. which track first-line study quarter evaluating of and of everyone two call. our quarter KEAPSAKE cell joining the dose interim operational in to are afternoon, the NRFX KEAPX the we mutations enroll The Good to lung patients of for key our cancer non-small execute escalation treatment fibrosis. conference immunotherapy continues, standard XXXX. with for In thank lead for advancement telaglenastat strategic report

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important internally programs, two agreement beyond Looking our digits. of preclinical demonstrated it low agent two discover inhibitor. it novel, therapeutic promising that we an eligible exchange ability received view an a and with mouse a or molecule discovery as royalties Antengene In activity CD-XX for double AACR development rights highly core we presented anti-tumor model drug upfront to as In anti-PD worldwide the to agreement single LX engine chemotherapy. combined license activity with data syngeneic our our of with Antengene as from sales discovered worldwide signed validation and commercialization of CB-XXX, for SITC has on our Antengene small CB-XXX demonstrates compounds. CB-XXX, XXXX, develop development, the either immune-mediated, payment with proprietary additional exclusive we and are in as regulatory well and in tiered showed enhanced sales and receive to the milestones, at We when

of medical address novel an forward. to precision we be remain the new we've to to us year our them We several Broad And And therapeutic. second program. needs. to Cancer medicine half for well, we expect half are that therapeutics additional precision targets they forward call to important in initiative to bring Institute’s clinical that steps pass reached. I or in XXXX will addition, of biomarkers whose look the our Dependency position forward in to with details taken the and and joined unmet over Map major believe to discover to milestones goal providing delivering We on on we drive the the committed June, details Keith Consortium, first collaborating additional mission In as is the look achieved that DepMap market for with cancer

by Thank update you, providing glutaminase Susan. I'll on start telaglenastat, our an inhibitor.

receive KEAPSAKE As and or in evaluate from the are believe study September Phase non-small track quarter of data this of and assessed on fourth total. lung telaglenastat mutations lung The study year. in are is enrolling The immunotherapy standard will an need, KEAPSAKE we the in patients to randomized XX% harboring cell non-small In Susan representing trial, nonsquamous, we in XX,XXX cases study care regimen. investigator plus mentioned placebo chemo carboplatin of can an area telaglenastat. addressed of earlier be mutation. remain XXXX in patients combination in market KEAPSAKE of unmet potentially PFS This estimated KEAPX/NRFX the pemetrexed. approximately and in by of which a cell of with this present currently the high telaglenastat X patients interim began cancer pembrolizumab, are telaglenastat significant Enrollment and safety all to report KEAPX/NRFX we this

the outcomes telaglenastat work preclinical non-small improve cell and potential we We telaglenastat KEAPSAKE tumors. patients has cancer look these trial. forward the strong further in potential the for the critical the proliferation to believe rationale, role of provides assessing KEAPX/NRFX its Our glutaminase supporting to lung in with plays mutations

Phase for treatment study the enrolling escalation Turning arginase to oral, fibrosis, novel, our the cystic on schedule. inhibitor of continues Xb dose CB-XXX,

was September, data Conference And half study members in and data Cystic As at place for we at the community forward second previously, from of sharing the this we and of plan medical Fibrosis presentation end at we reported recently taking that the from to to data accepted American of that study investors interim North these time. share XXXX. report I'm pleased look this to with the

which and better discovery decisions informed through Broad’s We we to respect Consortium with to be have opportunity data candidate our novel honored DepMap generate an are make programs also advancement. to the for joined

for pipeline forward defined in for interest in KEAPSAKE of continue discovery the over subpopulations Stephanie as of I'll telaglenastat biomarker-driven for with Broad undisclosed explore stems development KEAPX/NRFX to to the identify partnering the programs We this We the financials. for to to biomarkers Our of ones. plan to that cancer well look With on to with drove trial. biomarker discovery on Broad approaches dependency the partnership as an rationale glutaminase our pathway the programs. from patients our pass it guide utilize the of update new that

partially recognized second The was million million for this to well-capitalized call. primarily $X by were results million quarter I with were Antengene. for June million million The in research. at and XXXX. in licensing amendment services second from with And XXXX. second R&D to of as associated investments driven was review quarter XXXX were on loss programs, revenue Calithera agreement the of investment to related our million in financial quarter decreases quarter will primarily for with totaling professional of CB-XXX $XX.X briefly $XX.X expenses $X.X $X.X well XX, program as expenses our in Thank in the results in in the included compared turn and the million. quarter Susan. increased cash in press release. Detailed XXXX. call reflecting decrease the remains you, the current Keith. March Revenue over decrease in our XXXX and was with will $XX.X the G&A related early facility compared second of the I stage $XX.X expenses rent the XXXX. decreases to XXXX quarter of second lease costs Net was offset our now expense that quarter XX.XX telaglenastat by to in today's

And open for the that, to happy operator, Thank we're line questions. with you, Stephanie.

And Thank our Matt you Blair. first Phipps William question Instructions] we from presenters. from [Operator have

Your line open. is

for Hey taking question. guys and my thanks

just we I around the me. of to resistant then saw were talked patients morning actually patients didn't melanoma but those benefit mutations also X quick was a inhibitor. the with you able two maybe the Bayer it the glutaminase the do might for. acquisition program the Just they were kind of does of different lead to ones secondly KEAPX/NRFX their first have Vividion a and data approach the [indiscernible] of And those Anderson greatest you But, so some have that. in if, maybe on PD this comment wondering obviously space, but actual they like seemed abstract little MD their presentation from looking

the So I on there that. things more program. maybe any through KEAPSAKE reflect how is And these guess comments

ahead, I ground to I to inhibitors a to obviously based and already pre-clinically degraded. Hi, with can NRFX trials, KEAP think exactly population with pathway is their in Vividion isn't Obviously keeping because all affect new that and depending interesting we They certainly, be keep, interested Bayer. has population there the a how the and I they are inhibitor, great validation But clearly clinical use two activators and clinic clear inhibitors into think are is to some interact be in and Vividion are to develop we with in great, least are the of of glutaminase Susan. approaches it's does at Matt. it's comment by NRFX further inhibitor to both acquisition which the platform NRFX on This company and be NRFX population. KEAP important some platform on completely inhibitors that progress. would made we're would and of developing see are us it

But mean data this ask the you clarify. of in Matt, generally terms I data. interesting. to clinical is the kind just mean, Keith. I speaking, Hey looked I of

lot the specific with be it's there don't And from has I perspective there an if sample from the seen I active asking. if come that be size differences those data to that know, were we've size, in. it but is continue profile, some what is question may think what the PK seen of a learn about telaglenastat was as from you more an PD think a given I program from and there molecule. gleaned to It there have perspective. the we'll a and safety the efficacy

clinical mean enrolled for which the to they melanoma study study. I guys your have the you some greatest on and did looking there old X said, even of but combo patients and of just benefit some some Nivo was, the also in actually patients refractory those have I commenting PD the those showed

an I what the terms do mean, continues to PD be I patients think interesting is think refractory we've and interesting. interest. X And been that's seen Yes, has of in area of we

that speak potentially can't metabolism specifically resistance, about to, But this and potentially glutamine talked have mutations mechanisms of I for we've is So and why for. before, there that looking the the metabolism. they a were didn't there PD they X role

So I do think that's interesting.

year the patients Maybe just can for maybe any idea should question, give how interim? we you as in many we plus KEAPSAKE expect get the this readout now one closer, you

Yes.

So, driven don't talked to as that can numbers, interim the more for number terms before that think statistically don't we've patient in of at point. I terms speak much I sort in about of targeting and of number have so isn't this specific the we that clarity there specific we're event

I there. think so it I'll And leave

thanks Okay, Keith.

Yes.

We have H.C. Instructions] Swayampakula next Wainwright. from our [Operator question from Ramakanth

open. is line Your

the sort afternoon Thank Susan interim and at of on what be and a fourth this would conference is the KEAPSAKE trial, this you. be data, Couple interim at and or release the look. data Good we Keith. press in would quarter expecting the this should and quick expected be of a questions,

at forum, or present we're Yes, meeting of not at a planning that so in the to terms time. format the

type will looking month data. at against median quite are talked as types be comparing to other it the PFS five the about and three we this things before you of generally the is PFS know population, the that known poor and of format response So in will in terms historical for some data We've some in be rate range. of which

really that's be we'll what on. focused so And

Okay, to then Fibrosis soon the understand trying end with expected the data just franchise thanks. And of at the again interim Cystic September.

your hands completion next what timing think the this partnership? So would for the steps is molecule and the for on level the have or this to a you be move do expectation next trial you to of is just to in that this what need there, in

Thanks.

data presenting So ongoing the program, an study dose CF the we'll be escalation. ongoing the is studies from that

to that I [indiscernible] development. a discussed that out be We next we partnership data different wouldn't would And would of And escalation move steps, development. follow select with the study dose next think phase based endpoint is have of for further the and expect levels come on across at primary of we but the be this goal year. that dose-ranging study all that a dose a to as I what having to is be this of it's. terms say what determined in few to dose previously to completed a that forward required the

from onwards. the is next to should a question or about we under last then, expecting CDX like – the how to just which there And forefront me X here license should with pipeline in underwent to Okay. Is just think what in think we the about pipeline development agreement. long-term growth preclinical XX the from be come say XX another molecule in and months? maybe something Susan,

Institute. but that talk just question point the to quite research good I haven't lately pipeline, That's Broad will say our and will group our that the we remains fact active. about preclinical joined I we

the interest of in to We most be and KEAPSAKE the reflects I increasing pathway the being like our at approaches taking for case a forward. course nurse going be particular think targeted our to keep area lung in find idea as such of populations driven in able likely will that in that interest genetic trial is biomarker that drug glutaminase specific cancer. of where mutants the mutations we're in

come anything targets. to driven general research and in position area very fully to would to active our group programs in aren't and the out is So in the say expect preclinical now, I validation approaches of and oncology biomarker of a in target making inhibitors we but future

you thank for my Perfect, all you. Thank questions. taking

Welcome.

Thanks, RK.

to call this presenters. are will at there I over no And back hand questions further time, the the

have all for us today a Thank good evening. joining and and thanks you, operator

Ladies gentlemen, today’s presentation. concludes Thank for you participating. this and

now may disconnect. You