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Immunovant (IMVT)

Participants
Pete Salzmann Chief Executive Officer
Frank Torti Executive Chairperson
Thomas Smith SVB Leerink
Sam Slutsky LifeSci Capital
Call transcript
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Operator

Good morning. My name is Melissa, and I will serve as your conference call operator today. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

call be the on me today Dr. will Joining of Frank Torti, Salzmann, Chief Chairperson and Officer Executive Pete Executive Immunovant, of Immunovant.

the I'd the include efficacy not of including and the and are within include, for Before anticipated. conference or trial, and Act of Private materially of safety future begin, like clinical statements timing, future indications. forward-looking which everyone and its Reform of various uncertainties, expectations results and readouts timing remind Immunovant we announcement unknown, differ statements or These that Securities from call Litigation will candidate These could data meaning regarding and certain those risk Immunovant's performance known the to statements subject forward-looking example, design product guarantees cause indicated XXXX. future assumptions, to forward-looking regarding of of actual the statements to are today's the potential of results

report most investors For XXXX. are information, quarterly August on the more XX-Q review X, encouraged Immunovant's filed SEC with recent on to Form

I'd call Dr. you, Salzmann. Thank over Salzmann. to the Now, Pete Dr. to turn like

You begin. may

Pete Salzmann

million months higher share ended Net personnel-related General months expenses. for was months that XX, three compared per million per XXXX. data that share highlight year-over-year increase million to compared loss I with you, always our three that expenses from that million, limited want to Melissa. results ended this a comments increase to today. June wanted $X.X I'd to $XX.X briefly R&D to and three to review, common the ended three three the to the months the months June our $XX.X take months the take Net XX, for $X.XX million that expenses. our the XX, several engage ended loss to to today for year-over-year related June partially respectively, for and the we expenses we the with interact XX, everyone ended for million that close discussion and program-wide to the ended typical, we've or our Thank $XX.X some programs. in personnel-related With XX, a opportunity expenses I the first and for net to The for increases ability administrative $X.X a by June investment community last quarter calls, over call development for or June XX, $X.X and and strategy. months reflected the that common non-cash the XXXX, go-forward than the three XX, Research in do to financial June for will XX, XXXX, were thank on XXXX compensation June activities not primarily higher that around have but The quarter million for dialogue ended to clinical XXXX. were call G&A. $XX.X and contract costs. XXXX. was earnings do fiscal XXXX. joining the start $XX.X million lower offset more begin June three The quarterly opportunity expense. XXXX, financial ended because I realize months due included $X.XX with highlights loss. today primarily analyzing brief and the of results reviewing that, data like recap our compared been stock-based manufacturing related XXXX by

by Torti, put Immunovant. you perspective, this investment are member joined Chairman who by like Roivant believe quarter to I'm week position to team. to Frank, a that also a million I the investment of senior today do. which ask to the Frank Dr. of you into leadership is addition In Roivant's we first I I'd unique just Immunovant, in a $XXX briefly last results reviewed, announced into direct Executive

Frank Torti

you. to company it's Chair management this as Thank pleasure my And the support Immunovant of on able express a the of be a only the in also for and investment, excitement not to today the representative as call and join Executive team. but Roivant you

mechanism both As continued numerous in attractive a most with flexible class, are proof-of-concept in address. class. experience importantly, this the of XXXX that now with the leadership III believe can we II the confidence and future. studies in deliver Fundamentally, we've in Roivant Phase And to indications. member In indications Roivant successful we the the senior the with in view, a evidence trials validated, always exceptionally due is XXXX know investment is across the mechanism dosing and of factor team, multiple and investments the potentially further form the our unique Roivant's to best market, the which of significant and and have patient-friendly range a rigor And is commitment I sponsors. found assessed, wide Immunovant, anti-FcRn potential There's a to asset. and,

Now least for still of these mechanism approximately new look therapies, There XX before, or consisting announcements the the around and more intensity with spectrum of the over a something all are at targeting outdated only being five that's immunosuppressants with been indication development now, the example, pace often from characterized with broad unmet and is that's in companies said the need at are only but you high interest distinct indications a indications those by disclosed field, the months. if of companies increasing. IVIg. anti-FcRn standard-of-care, several last indications And

will that potent to and a than new diseases in existing the up in from us uniquely share to observed in In does multiple we by is really We've the of programs address FcRn. in flexibility initially as remarkable. described take we design for dosing disease, but analyses impacted other now suppression IgG level to a the target myriad particular be dosage design that XXXX dose and only the well create markets, ones flexible particular, in either for which and data also during our mostly even Immunovant where so expected, regimens or is phase, be and not remake normal of short of an as the path more enable be modest Immunovant will induction opens limits enable changes opportunity in to example. duration can outside ideal to Immunovant dosing And believe June strategies of albumin LDL to to

bring signal-like now therapy, to baseline criteria, thoughtfulness when maintenance, the than to you of this is, with of ability course, just when first and addition, think unexpected dose inclusion, much different generally induction levels, a an treatment issue of antilipid of interval, cetera, exclusion now [ph]. was elevation, degree signal In and merging lipid a dose, things et it was like our consider lipid

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about is investment, to long-term J&J success. For in and of Momenta. in company And at advancement that thought billion we in example, best taking acquisition not Roivant to approach plan a their the step raised and by of February is different wise said XX for post a the aid to degree strategy with position serial now they and aggressively field the likewise XXXX. of they indications have moving $X argenx six their drug

this with really features our company appreciate and allow be fully So forward let with development the antibody we is in of investment subcutaneous very an the in its therapeutic particular, really designed window unique their the unencumbered factor. terms injection move to a low-volume In clinical to broad team form way aggressive convenient approach. offers

can will run So and And we'll trials to to versus long-term which opportunities first-in-class with Immunovant Immunovant's investment is focus competing design value we of XXXX execute the be that with indications. many of and validated on sense creation. And lot as ensure XXXX to for now markets equipped and new difference the be, market an going really a potential made we clinical elements leading execution plan. often. around Immunovant cases, expanding a back, pivotal this in a is Immunovant When transformative you big a to ready know already can mechanisms, need some don't And very of new $XXX believe parallel. XXXX incremental indications. very other the many we can just that the million patients. with cases, to assets where as drive big $XXX need in think trial But well In potential, ambitious studies in development class. million can that's into drugs be be these is sheet, well running trial, their balance we come make Immunovant really Immunovant approximately In to large on the in include execute realize many, to will anti-FcRn, proof-of-concept definitely differentiate to step

Now Immunovant Roivant develop through to and about to for to Immunovant to I continuing to personally patients is eager investment of the engagement. incredibly prospects of closely look team and the work future drive Pete excited to broader also we're XXXX benefits shareholders. forward value and this through support maximize And with XXXX our and to help all help

on for back me call comments. with some having Pete today. I'll that, for additional thanks the to it turn So And

Pete Salzmann

That's a Frank. Thanks, great overview.

in Myasthenia million like both investment Gravis get discuss strategic I'd a and Before to terms of $XXX execution. the I from Roivant, angle from to

start calendar QX on Let's pivotal of with the I design we FDA are our MG with track to year. in on alignment believe execution. gain this

market and for is on the important Phase FDA the up. in on XXXX, MG. we QX feedback advice patients understanding with of recently In of Contingent received to an we for neurologists underappreciated deep to in our fact, Not with alignment clinic generally. upon FDA review. how class in regarding that weakness and marketing short the treat that early get communicated The research specifically this Immunovant, important, Immunovant's our in given the meeting When meeting and have also patients we needs program of onset and based strategic the patients communicated opportunity for quickly. can for percentage by the into our to highlights and are obtained we're who are Gravis. patients study been wide especially and is on symptom enthusiasm pivotal term relapse. a and These I study very of deeper medical in symptoms based III large market. surprisingly, Myasthenia desire given part opportunity previous QX, anti-FcRn something crisis. involved also Recently, Phase-II remaining end the about will program plan have excited early our Relapse modifications getting dosing. strongly the to-date of patients review the XXXX potential. the responders shaping Gaining back agency's with Gravis physicians with modifications populations for catalyst we be have our can avoid reported and be rapid that the especially very have control feedback patient very initiate and impressive, during see highlights of XXXX's FDA XXXX think our This with based Myasthenia teams worse with relapse, occasionally much dug a research to studies

the want patients At control. desire run. patients the same time, do So in immunosuppression physicians to and long minimize study

that suited XXXX's broad window resonates very and maintenance clinicians. think why I is well is with induction an approach here. therapeutic

this by severity gained inform the target predictable will to enable we've of to and in Our regarding date in convenient and disclosed What potential the broad induction. be dependent is design we a best we steps option to from PK/PD the albumin are match just a insights I dosage initial term needs enable and curves MG. IgG PK/PD and flexibility Then seen for enables changes response. IgG deep IgG of to the limits outside LDL. the duration is normal reduction these suppression We've and stage LDL treat therapy. subcutaneous us want dose curves broadly, needed the extremes to us the also but window ideal therapeutic during offers disease, to cyclic also programs design by Xst, On said, study form Frank that broad seen that this The that addressed changes not where believe maximize believe for that June XXXX suppression as suppression, to short insights higher variability our data IgG only clinical from achieved in albumin of differ by review. needs range enthusiasm in program Patient differ to levels. IgG with design therefore dosing therapeutic level and reversible. and patient's LDL not for a XXXX's comprehensive the dosage of we without that down with emphasize PK/PD the regimens of and mostly rapid therapeutic us will a window our doses indication, of

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promising. at data total milligram early following immunogobulins, early believer these of quarters. of patients. the achieve for launch the been enthusiastic visit, appeared study many appreciated. enrolled no and of XXX designed are I dose and rare the of the meaningful the was as New the high is in parameters, enthusiasm of the solidly and the when with evolution teprotumumab's that was for were Eye it response symptoms the from induced as Disease originally thyroid over when efficacy certainly These having proptosis by a separation ocular the driven of visits understanding enrolled range review validating for that the coupled in dose unmet are from opportunity a trial, We've the stimulating very XXX other believe was an addressable visits, assessed on was people patients observed XXXX XX% need and trends disclosed, indication, to previously opportunity. that the surgery. the most approximately declines Journal when at that couple As data market the in Disease, diseases. could placebo. early patients each possibly IgG Medicine milligram of We Thyroid Physicians as early surprise the the Eye by is are clearly Roivant fully XXXX, don't Initial reduced subjects Thyroid therapy for the an evaluated efficacy very was were teprotumumab's great carefully that in designing in potential longer market also It think last studies is XXXX. XXXX. XXXX the and Roivant the was recall England benefits might population of Phase about for decreased need Today, medical with II case published Nevertheless, as the that

a be factor pretty also many foundational However, organ appears to insulin across systems. growth pathway

as It's benefit of as product we'll a action I have terms beyond symptoms. product small XX% in incidence to receiving the virtual Thyroid a Hearing that for and label an teprotumumab tissue series experienced to I'm on is of see at highlights So extraocular teprotumumab in so ENDO blocking ratio. presented study days, and out compared having pathway greater the conference the reported a this different of may different mechanism early plays target labeling. deafness, in a this have of placebo. p how think a otologic including consequences it impairment, do potentially Disease. aware all But Eye patients in opportunity FDA with also risk recent reported a experience is that XXXX clinical

regarding experience to really wide based need, but not market across patient medications need, patients autoimmune of range high also Disease of point Eye needs. Roivant really on understanding back physicians couple unmet only with a important conditions Thyroid potential years my recognized a that mechanisms relates Another the with different and action. appreciate, In of

of Given individual respond will patients, that to respond of the mechanism mechanism and one a better almost diversity different some to others it's inevitable patients will action. better

data Experts dose period with in steroids, be after this three strong line, who the of Bottom hemoglobin spontaneous uncommon also close even fully us and us about get TED. very of very achieved encouraging. high rounds for patients immunosuppressants. working particular, severely a We've the on in reviewed generated or therapy. really with to response with long-term that, that for Autoimmune Beyond improvement solution. who are large being improvement We of very compelling, excited weeks is can getting moderately therapy to Anemia our cause a require data shared XXXX small experienced Warm mechanisms throughout data been to found find and only well. the albeit with In I XX I'm often a of set steroids patients treatment who steroids to maintained This just to but Hemolytic the opportunity and the be these be very or response patients impacted, aren't action different clinical patients of multiple restarted. XX patients sequential on the high dose program prior our three failing one observation in completed that

then that. getting importance the back to ideal are standard-of-care. to and earlier is and relapsing, partially a That's certainly many or said still relapsing do I talking about $XXX good down, I blood transfusion. investment, of tapering point an get Roivant's up that million direct wanted intermittent probably this of end not patients So them to

pursue by this As to across XX very of a there ambitious Frank I'll regard the indications with specifically for the providing actively anti-FcRn being development. the update we've are additional MG for to just People studied that time right our I parallel to that meaningful we the Frank year, are alignment program With that excited with reiterate the end expect about well this mentioned now line agree earlier, that's FDA. strategy. and the updates, class, on achieved provide remarkable. is strategy We're class, positioned

to same TED will be go XXXX. for We early XXXX, later the of programs ready do are our expect new WAIHA Behind thing regulatory with once that indications and our in in announcements alignment. these to

a an In Day to We expect strategic will and investors, summary, execution of sure wide steady interesting. progress of questions. across we will very to ask followed later prospects. the of make range so for a R&D With for hold that, quarter of the exciting us updates Immunovant's of the stream that enthusiastic even open This I'll indications. very updates, our about be more first by also the in operator stream very and I'm line plan XXXX, that data in stream be program, we and believe development

Operator

proceed Instructions] the first [Operator question. line Karnauskas Truist Securities. Please of Our Robyn from with you. Thank with comes your question

Unidentified Analyst

taking morning. Thank [ph] Good This so much call. guys. for Robyn. Hey, my Trepan you is for

in. talked XX to talk TED, the So a you are that but Maybe these Can trials plays beyond mentioned a you Is one pivotal you. TED just of being behind little indications? And too you out be said these about see talk do in little that about trial. the at you plan it, it's maybe evolve least indications. rationale Thank and expected - you about TED? the then XXXX least in little a And if bit way to you initiate a the of talk how indications selection trials market the WAIHA? in PR at can early will two that all confused, to investigated clinical FcRns MG,

Pete Salzmann

great A set questions Trepan. Thanks, there. of

the with And selection to which pretty to pursue criteria. are So to there How the mentioned class. entire indications the is we're think across most technical a much will a how anti-FcRn select of next? disease that's degree first, particular patients. then one indications doing, of type first your our different going good mechanism question of as success, two opportunity is the elements we being clinicaltrials.gov now XX in probably unmet classic fit probability related to anti-FcRn I how important analysis the posted there I for question, need, element. the that secondly, benefit we're that of And

In endpoints. the of then factors, unique addition, consider the clarity window subcutaneous therapeutic I the including some factor. logistical form really And features discussed, simple of broad we'll of XXXX course, and the that regulatory other like

an to all validation goes decision-making. to we we first-in-class. our So then clinical another indications, set by best-in-class, already and been we where Ultimately, be of that be perhaps want some opportunity into there's some asset, can indications have of a have where which

So I TED our With and to MG regard a WAIHA, to indications. think - of of that's one for around your pivotal, statement one - for that new apply the could indications the being or your first question. beyond

about thinking in previously that in will And MG. And as indications four announced believe then a have with trial we'll XXXX. trial we're group. pivotal of So also the pivotal a one we begin them those

programs that's in So XXXX. pivotal two

Disease, I it's of the good interesting for there extreme were Eye wasn't think just It's therapy was for market. there who auto a of regard sure, really Eye surgical therapy. long and time but a Disease, with there medical antibody Thyroid impact good some good wasn't Thyroid a really, just There like therapies, Finally, a many had for a conditions, patients to therapy. -

of lot short other And a having their Myasthenia need are is, impacted Thyroid for patients six indicated of for new of lot launch and a something is achieves with innovation therapy, therapy that the benefit. month a Eye term teprotumumab, after Gravis. and And months. patients as studied for But condition this chronic to the physicians unmet degree stopped. are like with of opportunity some of of think marketplace there which course I is and Disease is still been after So not what six experiencing of relatively of that course, in advent a therapy great. as response, is the patients high relapse initial is Teprotumumab proptosis

of this one evolve be treated possible. that situation time makes as over where maintain many normal, me close - and to with close response market of sequentially that be, to all think than action mechanism to well a can more long will as get as So will patients as fully that as patients them they to to

Unidentified Analyst

Thank you Great. so much.

Pete Salzmann

Yeah.

Operator

Thank you.

Our next question comes your from the line Leerink. of Thomas proceed Please Smith with with SVB question.

Thomas Smith

Thanks And Hey, dosing, taking communicated? being and the guys. XXXX the Good thanks first, guess, any in collected to we so, morning. of that additional I analyses conducted there the previously can see expect questions for for data? terms when update. on if these analyses are are

Pete Salzmann

that for question. Tom, Thanks, Yeah.

the regimens might taking understanding how pause us to totality from data and an that continuously give obviously, with rationale we modeling. models we prior PK/PD are our for dosed the patients studied who know, refining of XXXX we all yet in you perform. dosage So that of were have the That's to the haven't dosing as

XXXX. dosage and of information and regimens, would new any regarding at of we're models that to R&D going output potential of the including expect of our forward. dosage a yeah, part protocols, Day looking regimens of So our would inform be And I the expect those first different our quarter in protocols detailed the design lot our we

Thomas Smith

around what And trial pivotal to idea relatively pretty the factors the sounds share the you're you you. you are else with having then close that the and in alignment design what for us Thank agency? sense. of - I terms of perhaps study with would makes MG And good to that to study. like major able be feel a study? it gaining guess, I outstanding, details That both what gating, then, Okay. the guess starting

Pete Salzmann

right. Right,

So I indicated, of of induction in an in I mean, lot a type maintenance of protocol as the think approach. see opportunity for itself, I terms I've

final think is will which the any will - protocol a of course alignment I with on on, have the achieve ultimately that have, FDA feedback they flavor. that dependent So have we

have this logistics FDA it's really of at point. we and alignment terms that In through gating the with of the gaining back and factors, just work forth the to

Thomas Smith

And last then maybe one Okay. Pete. question,

In restart can I in terms agency your Disease the Eye of, to with any overall feel WAIHA different of and maybe gating guess, I speak three the programs? being outstanding that to, Thyroid you if you factors engagement divisions, across terms like guess, other able are

Pete Salzmann

same just right. mentioned really what the Right, Gravis. It's we the Myasthenia most in I Gravis. Myasthenia as Obviously, element for data have

so a And that's - meeting having of an start, completed is that previously. division with end place to Phase-II the good

first interactions the so and any other with neuro will division. interaction one, then background with will information there's host the interactions be same that of And lot with that a the a whole interaction the that will via the of be divisions And follow. obviously the and is for first reviewed agency the

Thomas Smith

for taking the Appreciate Thank great. you. questions. Okay,

Pete Salzmann

problem, Tom. No Yeah.

Operator

you. Thank

the H.C. Please proceed your comes next question, question of from with with line Wainwright. Our Douglas

Unidentified Analyst

morning. for good taking Thanks Hi, the questions.

levels the just Just, sort think change you. prioritization, Thank or will flexibility, that of be LDL indications dosing through of of managing levels Pete, you is and needed? given any there thinking, and as and been terms in albumin some

Pete Salzmann

by across a came our we the Yeah, the conditions. little final immunosuppression immunology down for our maintenance minimize June big think is as variety preparation by optimize phase. efficacy we the insight XX-K. I call just optimizing within the was doing and came And Xst honestly, were really And in rooted, what finalizing immunology indications, treating and tapering in patient's bit Doug, want efficacy that long-term a wide to to of with hard then upfront induction realize, you that

across of mechanisms and wide So indications a really is this variety the maintenance phase to efficacy. induction used and optimize

the of efficacy because, this standpoint, asset. and new are realized that earlier one attractive an IgG most and today the from different I think PK/PD primarily models mentioned albumin We always any I things was for then is and LDL So important for also approach as albumin. previously, for

So IgG. down get the in albumin you to dose as of a much the fall-off compared you the [ph] reduction as the impact, steeper step

achieved for be therefore, still dose. reported had XX% a LDL, So impact XX% that we a speaking IgG chronic modest of reduction. the mid-range really the LDL, for increase that XXX median reduction a much dose, that sweet while about where to for dose a decrease allows in a more on having IgG in good albumin Remember, spot albumin sort dosing more have and and, dose a XXX XX% with a in

think I So to indications. forward in that's really fundamentally lot what of great a going provide us path a is

Unidentified Analyst

Okay.

limiter this or you And at don't see not a in clarify, pursue this may so of indications to really being may sort of just so you terms what point?

Pete Salzmann

ask again, because, term, goal we're get know of nice induction to and the the control, true to a point you're aren't who of a goal there'll is going really asset. hearing the the that's in under for short the symptoms but patient whom physician you topic. when a small don't suited. as thought patients - in that the really And not - he's phase, of for lot not yet. can this around I the option. LDL patients medication appropriate, changes ideally Maybe any of of albumin of be will short a some majority percentage patients be it's Frank whom make be even to really certainly or Frank, There'll for I'll that this be a well. about that may be I percentage small term a a efficacy. then large There who be

muted. be might You

Frank Torti

you. Thank

had the obviously, nipocalimab for thing this think And manifests, of field - thinking are who go within right. has the patients adding exclusion see how unstable J&J. weeks released angina, myocardial with I others aware didn't to these just protocol infarction, stroke than if you from been by example, Phase change or in disease criteria about we're wanted for other heart XX the the other is of They forward have screening. much issues, of, that an III design in some they the

thinking other companies And field of FDA points. lessons of clearly, kind So the grappling and with those with from taking we're the how kind similar us are about in go forward. they obviously the issues

Unidentified Analyst

you Thank Great. much. so

Pete Salzmann

Thanks, Doug.

Operator

Thank you.

question Capital. the line your proceed LifeSci with Sam next question. comes Our from Please Slutsky of with

Sam Slutsky

Hey. Good for the everyone. morning, presentation. Thanks

me. for question one Just

to see what discuss II like? prior able might we design And of next then and the in from resuming WAIHA steps? to TED, can and general of size to for Phase terms In are look expect TED, the data next study you studies development

Pete Salzmann

Yeah. Sam. Great question,

from investment thinking. us obviously flexibility our million lot allows $XXX the a So Roivant in of

best approach conditions about steps in want ultimately terms learned a those is both in and indications. context we've achieve, we of the in the way those So to next to what of differentiated we're what context of far approval of which the thinking in so

specific not to more that. able I'm yet So get beyond

the Thyroid data our in trial, FDA granularity don't we'll that. In releasing terms next on alignment to prior gaining Disease I do of Eye with think the the greater

next a that what I using our at in think right have confidentially design a lot probably some time to the we've information poring on Thyroid that time the of that that, now and we to for that advisers trial design be announced - share Disease. we observed. that next would then more we're over with good And design Eye detail trial

Sam Slutsky

Thanks. it. Got Okay.

Operator

you. Thank

Yatin Suneja with question. of question comes the from your line with Please Our Guggenheim. next proceed

Unidentified Analyst

This Yatin. you Evan taking for Thank Hi. is questions. our for on

the trial I You And up Is take doing potential have again? specific that know, the dosing steps a quick you're you're mitigate in what in beyond LDL starting there anything TED to regimen? the follow-up. then issue adjustments you that would

Pete Salzmann

Yeah. Thanks Evan. that, for

Thyroid little Eye shorter unique in of that likely bit Disease duration a it's a So is therapy.

may other medication. period resolves Disease a is don't could Eye which phase maintenance just somewhat spontaneously. and is of have essentially Thyroid the That's off condition then that a the resolve versus many be makes sense many, conditions versus So that over self design, a which induction, teprotumumab in condition the years this - limited.

that nothing shorter for duration, it that So a particularly management, may of particular there that be to briefly done are in criteria Thyroid given in likely as be changes, role term in given some That the majority really the is is Frank modification highlighted play remarks, I then prepared modest think for is of anti-lipid with we won't be inclusion, excursions in needs programs the to that Disease an you'd Disease which term patients, issue. that of be dosage LDL things Eye his or a shorter vast Eye Thyroid dosing that could imagine exclusion therapy considering said, lipid well. and kinds

looking things will get is stuff six months the finalized at and here. that over all So we're next

Unidentified Analyst

quick one issues where indication you indications then within know, indications just FcRn a across mentioned of Are subsets XX currently space that And in the Got these that lipid the follow-up. big or it. particular there of you being are patients investigated that not are deal? a

Pete Salzmann

Yeah. There's a wide comorbidities. variety of

conditions, as conditions. many data more some XX, of of conditions, you across all if the actually there the that of for sort there's a in significant. For autoantibody find the general not not certainly, most total autoantibody are as because are of variability. significant may body autoimmune inflammatory some But look of you'll And comorbidities the be that

just I point think LDL keep hammering most is term not at kind in short [ph] are changes though, vast the of home of majority patients. maybe for that concern important to the

a with important associated can think achieved term when with consideration, with such IgG going if because short So be higher be of is efficacy I to that's that XXXX. there's particularly reduction induction, that short with deep an associated in not term change the induction excursion

Unidentified Analyst

Got it. Thank you.

Pete Salzmann

problem. No

Operator

Thank turn our this for to any session. gentlemen, question-and-answer and you. floor back Dr. I'll comments. Ladies Salzmann the final concludes

Pete Salzmann

Melissa. Thanks, XX the really indications today's a remarkable market sure on our really, I'm class, call. announced hear opportunity, unique, can I enthusiasm think. joining across I appreciate based it's you everyone really Well, just

sheet, development a strong day. Have based broad based simple balance also is form And an good a ambitious us enthusiasm pursue to injection Our differentiated parallel subcutaneous with XXXX profile Thanks, program. on now a on and window a therapeutic factor. everyone. enabling

Operator

Thank you. today's This conference. concludes

participation. You may for disconnect your time. at lines you Thank your this