Cantargia AB Q2 2022 Earnings Call Transcript

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

Question: Mark Breidenbach - Oppenheimer - Analyst : Hey, good afternoon. And congrats on the progress, and thanks for taking our question. First, with respect to the planned randomized trial in non-small cell lung cancer next year, should we be thinking of this as a potentially registrational trial or maybe something a bit smaller to better establish the treatment effect size And would you likely conduct this on your own or in collaboration with a partner?

Question: Mark Breidenbach - Oppenheimer - Analyst : Okay, understood. That's helpful. And then maybe a couple of more kind of conceptual questions. Just wondering -- since you're seeing pretty good synergy with chemotherapy regardless of the type of chemotherapy, I'm just wondering if you've considered running any pilot studies in hematological malignancies, blood cancers, alongside some of the work you're doing in solid tumors. And then I was hoping maybe you could comment on any implications from the negative topline data we saw from the CANOPY-A study. Has that result from Novartis led to any reinterpretation or rethinking around the apparent benefit we saw from canakinumab in the CANTOS study? I know it's not your drug, but I'd love to hear your thoughts on that topic.

Question: Mark Breidenbach - Oppenheimer - Analyst : Okay. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 30, 2022 / 1:00PM, CANTA.ST - Q2 2022 Cantargia AB Earnings Call

Question: Mark Breidenbach - Oppenheimer - Analyst : All right. Thank you so much for your perspective.

Question: Richard Ramanius - Redeye - Analyst : Hello, good afternoon. So I'll start with the first question regarding CIRIFOUR. When can we expect the next news from this clinical trial?

Question: Richard Ramanius - Redeye - Analyst : Okay. So probably, sometime next year then?

Question: Richard Ramanius - Redeye - Analyst : Okay, okay. I understand. And also had a question about your ASCO results. So the -- let's say, the PDAC results are quite clear and obvious and really good. But in the non-small cell lung cancer group, you used two different -- used first- and second-line patients. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 30, 2022 / 1:00PM, CANTA.ST - Q2 2022 Cantargia AB Earnings Call And also, I noticed -- or rather two questions. How does this affect benchmarks? Could it have, say, when you mix these two -- and the other thing, the patients previously treated with checkpoint inhibitor, does that -- could you see in a trend there that they perform better or worse?

Question: Richard Ramanius - Redeye - Analyst : Okay. And a follow-up to this line of question. I guess, partners would be satisfied with your results you've demonstrated in pancreatic cancer. But as you say, they would probably like more data in non-small cell lung cancer to be assured. So I guess, you will structure your coming trials in non-small cell lung cancer, with the aim of gaining good enough data to convince a partner. And when might that potentially -- the data mature?

Question: Richard Ramanius - Redeye - Analyst : Okay, thanks. One last question is, perhaps, a bit speculative. But I was also thinking about what conclusions can we draw from canakinumab and this -- obviously not just related to CANOPY-A, but you have CANOPY-1/2 as well. One obvious difference between your compound and theirs is ADCC, I mean -- or should I say, direct targeting. And what difference do you think that adds? Because that should affect not just the tumor in itself, but also stromal cells, maybe associated blood vessels, associated myeloid cells. Just --

Question: Richard Ramanius - Redeye - Analyst : Okay, thanks. Those were my questions.

Question: Sebastiaan van der Schoot - Van Lanschot Kempen - Analyst : Hi, team. Thank you very much for taking my question, and congrats on the progress so far. I just have two questions on the Precision Promise trial. The first one is regarding the funding. You mentioned that the runway is now till mid-2024, but the results for the Precision Promise are expected in 2027. Is the trial already fully funded from Cantargia, or how does it work from Cantargia's perspective?

Question: Sebastiaan van der Schoot - Van Lanschot Kempen - Analyst : Okay. And it's in -- until -- that's in the futility analysis? And is there also some idea of the timing of that futility analysis then? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 30, 2022 / 1:00PM, CANTA.ST - Q2 2022 Cantargia AB Earnings Call

Question: Sebastiaan van der Schoot - Van Lanschot Kempen - Analyst : Okay. And then regarding the other drugs in the PanCAN study, can you remind us of which ones those are and how long they have already been in the trial? And then also maybe expand on the recruitment rate, how many clinical centers are active in the PanCAN study, and if it's also expected to increase in the future.

Question: Sebastiaan van der Schoot - Van Lanschot Kempen - Analyst : Okay, great. And then a final question from me is regarding CAN10. You mentioned that clinical trial start or Phase 1 start is expected next year. Will there be more towards the second half or the first half of the year?

Question: Sebastiaan van der Schoot - Van Lanschot Kempen - Analyst : Okay, clear. Thank you very much.

Question: Arvid Necander - Carnegie Investment Bank - Analyst : Thank you for taking my questions, and congratulations on the progress so far. So I have a follow-up on the randomized trial in non-small cell lung cancer. Considering both how the competition is developing in this field and the regulatory interactions that you've had, do you view the post-anti-PD-1 monotherapy setting as a population that is defined well enough, or are you targeting a study design with selective recruitment based on biomarkers or other signatures, for example, CRP in this setting?

Question: Arvid Necander - Carnegie Investment Bank - Analyst : Okay, that's fair. And then I just had a final question on the sort of next-generation medications. So in addition to non-small cell lung cancer and pancreatic cancer, how many indications are you intending to investigate further in the clinic following the initial Phase 1 results? I understand that this will, of course, depend on data. But how do you view your capacity and what are you budgeting for exactly when you forecast the cash runway to last until mid-2024?

Question: Arvid Necander - Carnegie Investment Bank - Analyst : Okay, thank you. Those were all my questions.

Question: Sten Westerberg - Sveriges Aktiesparares Riksf÷rbund - Analyst : Well, thank you for taking my question. And just getting back to the PanCAN setting, if you expect that the participation of -- the inclusion of canakinumab -- if that in any way will have an impact on clinicians. Well, in both ways that could have an impact on clinicians' view of your own products. I mean, are these products so well differentiated in the ordinary clinician's mindset that they don't see them as having the same mechanism of action? So that would be my first question. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 30, 2022 / 1:00PM, CANTA.ST - Q2 2022 Cantargia AB Earnings Call Next question, I know that you've answered this a couple of times now, but I wondered -- it would be interesting to understand a little bit better which parameters, specifically, in non-squamous lung cancer you need -- increase confidence in order to set up approval -- concept trial next year. Thank you.

Question: Sten Westerberg - Sveriges Aktiesparares Riksf÷rbund - Analyst : Okay, thank you. That concludes my questions.