Precision BioSciences Inc Reacquires Global Rights to its Allogeneic CAR T Programs- Conference Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Tom Shrader - BTIG - Analyst : Thank you. [It seems like an odd move so close to interesting data], but I really just have kind of a vague philosophy question. AlloCAR Ts sort of started out with the goal of being as good as autologous CAR T. Do you think that's the goal or do you think some of this movement in the sector has to do with the fact that the [next] cells -- or the dominant cells really have to be fully outpatient and have to be fundamentally different? I'd just love to hear your thoughts.

Question: Tom Shrader - BTIG - Analyst : Yes.

Question: Tom Shrader - BTIG - Analyst : Okay. Great. Thank you.

Question: Ben Burnett - Stifel Financial Corp. - Analyst : Hey, great. Thank you so much. I was wondering if you could just maybe talk about the nature of the dialogue with Servier. And, I guess, was this new agreement initiated by Precision?

Question: Ben Burnett - Stifel Financial Corp. - Analyst : Okay. Appreciate all that color. Maybe just one other question on the cell side. So, I guess now that you're close to dosing patients with the Stealth Cell, the CD19 Stealth Cell, do you have a sense for what preconditioning regimen you might focus on in this -- in this first study?

Question: Tom Shrader - BTIG - Analyst : Okay. Very helpful. Thank you.

Question: Gena Wang - Barclays PLC - Analyst : Thank you for taking my questions. So, firstly, regarding the Stealth Cell, just wondering, in the manufacturing purity, is there any improvement versus the first-gen so that you do not need to do the split dosing? And then also regarding the beta-2M, can you remind us the knocking down level of the beta-2M? And then, I have one question regarding the Servier partnership. So, why wave 18.75 million?

Question: Gena Wang - Barclays PLC - Analyst : Great. Thank you.

Question: Hannah Adeoye - JPMorgan - Analyst : Good evening. This is [Hannah] for Eric. Thanks for taking the questions, just a couple from us. So, with further development of -- well, given the (inaudible) the Stealth Cell and the Gen 1 program, do you have the resources to continue both? Are you thinking about -- or how are you thinking about prioritizing the candidates? And, additionally, regarding the four additional product targets under the Servier deal, how far along are those in clinical development? Have any candidates been identified for those?

Question: Hannah Adeoye - JPMorgan - Analyst : Great. That's helpful. Thanks for taking the question.

Question: Andrea Tan - Goldman Sachs - Analyst : Hey, everyone. This is [Andrea] on for Salveen. you. Matt, maybe a question for you about how you're thinking about the ex-US strategy for these programs. Is this something where you would look to repartner with another global player to facilitate that commercialization or would you look to expand your [salesforce]?

Question: Andrea Tan - Goldman Sachs - Analyst : Got it. And then, for Derek, just with that upcoming [pause] that you mentioned for the PDCAR28 program where you're looking for the learnings from the CD19 program, just for clarification, is that after the Gen 1 data comes or do you think you would wait to see how the Stealth Cell data plays out.

Question: Andrea Tan - Goldman Sachs - Analyst : Got it. And then, maybe just one last question. With the ASCO presentation, with the focus on the NHL patients, just would love an update on how the ALL population and how those patients are doing and if it's still an indication that you were -- that you were planning to bring forward and pursue.

Question: Andrea Tan - Goldman Sachs - Analyst : Got it. That's super helpful. Thanks so much.

Question: Soumit Roy - JonesTrading Institutional Services, LLC - Analyst : Hello, everyone, thank you for taking the question. This is probably a question for Alan, especially now that he's onboard formerly. How do you view the enhanced lymphodepletion versus some other peers using alemtuzumab from the physician's point of view? If everything else is equal curability and the response rate is equal, how do you -- is there any advantage you see, physicians see, from using alemtuzumab or not? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. APRIL 15, 2021 / 9:00PM, DTIL.OQ - Precision BioSciences Inc Reacquires Global Rights to its Allogeneic CAR

Question: Soumit Roy - JonesTrading Institutional Services, LLC - Analyst : Thank you, and possibly another question along the same line. When we are looking at this Allo product, are you in the camp of thinking Allo products will not have durability of persistence of these cells longer than two -- three months at the most. But during those months it will have a deeper response (inaudible). Is that how you're viewing or (inaudible)?

Question: Soumit Roy - JonesTrading Institutional Services, LLC - Analyst : Thank you again for taking the questions.

Question: Sami Corwin - William Blair & Co. - Analyst : Hi there. This is [Sami] on for Raj. Thanks for taking our questions. I was just kind of curious how you guys are thinking about BD now. What you're kind of looking for in potential future partners and if that's an immediate priority for you. And then, also, thinking about the Gen 1 CD19 asset, are there any other additional levers you guys may be able to pull? Are you talking about redosing it all? Just trying to get an idea of how to think about the Gen 1 versus Stealth Cell. Thanks. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. APRIL 15, 2021 / 9:00PM, DTIL.OQ - Precision BioSciences Inc Reacquires Global Rights to its Allogeneic CAR

Question: Sami Corwin - William Blair & Co. - Analyst : Thanks. If I could just squeeze in one more. So, the CD19 Stealth Cell, I think you said it's starting at the equivalent -- the Dose Level Three for the Gen 1. Do you see the other Stealth Cells starting at a higher death level as well?

Question: Sami Corwin - William Blair & Co. - Analyst : Great. Thanks, guys. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. APRIL 15, 2021 / 9:00PM, DTIL.OQ - Precision BioSciences Inc Reacquires Global Rights to its Allogeneic CAR

Question: Farzin Haque - Jefferies - Analyst : Hi. This is Farzin on for Maury. So, I just wanted [some] clarification. You mentioned that we have seen dose level toxicities at higher doses beyond Dose Level 3. So, does that mean you have Dose Level 4 or 5 already?

Question: Farzin Haque - Jefferies - Analyst : Okay. And for the new CMO, Dr. List, can you comment on how you view the DTOs CAR T approach commercially related to autologous CAR T competitors?

Question: Farzin Haque - Jefferies - Analyst : Thank you.