Alligator Bioscience AB (publ) (ATORX) Earnings Call Transcript & Summary
August 19, 2022
Earnings Call Speaker Segments
Cecilia Hallstrom
attendeeHi, and welcome to the BioStock Studio, where today, I am joined by Soren Bregenholt, the CEO of Alligator Bioscience. Welcome, Soren.
Søren Bregenholt
executiveThank you. It's always a pleasure being here.
Cecilia Hallstrom
attendeeCould you start by giving us an update on the OPTIMIZE-1 study with mitazalimab in metastatic pancreatic cancer?
Søren Bregenholt
executiveYes, absolutely. As you rightly say, OPTIMIZE-1, here we are testing mitazalimab in first-line pancreatic cancer in combination with the standard of care chemotherapy. And pancreatic cancer is a horrendous disease with a significant unmet medical need. We assess this as a peak sales commercial opportunity of USD 1 billion to USD 3 billion annually. OPTIMIZE-1, we are recruiting on track, and we are on track to deliver interim data by the end of 2022. And that is, of course, a significant value driver for Alligator. And once we have these data, the company is definitely ready to both accelerate and expand that trial if the data warrants. So yes.
Cecilia Hallstrom
attendeeAnd during the summer, you updated the markets about the second Phase II study OPTIMIZE-2, which was set to start by the beginning of next year. What does this update imply?
Søren Bregenholt
executiveFirst of all, it means that we are now in a position to focus all our resources financially and all our wonderful and dedicated staff towards OPTIMIZE-1, the key value driver for Alligator and ensuring that, that trial delivers as we have promised. Secondly, it of course, gives us the opportunity to bring forward any learnings from OPTIMIZE-1 into OPTIMIZE-2. And equally important, it decreases the burn rate of the company, thereby extending our financial runway.
Cecilia Hallstrom
attendeeAnd if we then turn to ATOR-1017, the end of the Phase I study is nearing. So what will happen next in this program?
Søren Bregenholt
executiveYes. So 1017 is our 4-1BB monoclonal that is currently in a Phase I clinical trial. All cohorts have been recruited. Luckily, there are still patients on trial benefiting from the drug. And we have seen a disease control rate of around 45%, which is really impressing for a single agent drug in this very, what can we say, hard-to-treat patient population. So we're very hopeful. Once we have read out the full data and had a chance to analyze it, we will update the market on what happens next with 1017.
Cecilia Hallstrom
attendeeAnd of course, your other pipeline projects are also progressing. What news are you expecting from these in the coming months?
Søren Bregenholt
executiveYes, that's important as well. our co-development project, 527, which is a bispecific antibody also for solid tumors. We expect to start first in human trials during the second half of this year, most likely Q4. Our other preclinical projects, including our collaboration with Finnish Orion are also progressing as we expected and planned. So all that is also on track.
Cecilia Hallstrom
attendeeAnd of course, upcoming results are creating a buzz around Alligator. How does this translate into your discussions about new deals and partnerships?
Søren Bregenholt
executiveI mean the second half of this year is so exciting. Several trials will read out. We will have a lot of internal data. And yes, that has created a buzz around not only our pipeline assets, but also our technologies. And we are in, what can I say, advanced and structured discussions with several potential partners around more assets and our technologies. So -- and I look forward to update the market during the second half of this year.
Cecilia Hallstrom
attendeeWell, we look forward to the update. Thank you so much for coming here, Soren.
Søren Bregenholt
executiveIt's always a pleasure. Thank you.
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