I-Mab (NASDAQ:IMAB) Q2 2023 Earnings Call Transcript

John Hayslip: Yeah. Thank you, Joe. So, as I alluded to in my comments, in a non-clinical time, early in the development of givastomig, we’ve seen that givastomig can be efficacious have biologic effect down to very low levels of Claudin expression. And in addition, you’ll see in our clinical data, we’ve seen clinical benefit in patients who have quite low levels of Claudin expression. So we’re optimistic — the program is early still, but we’re optimistic that givastomig may be able to bring benefit to a broader and much broader group of patients with lower Claudin 18.2 expression as well.

Joe Catanzaro: Great. That’s helpful. And maybe my follow-up question quickly on lemzoparlimab in the ongoing Phase 3 trial in MDS in China, because it sounds like there’s a lot of considerations there and the maybe situation is fluid. But I guess now knowing the outcome of magrolimab’s ENHANCE trial, just wondering how you think about what ultimately we could see from that trial and how it influence your decision with lemzoparlimab and its clinical strategy? Thanks.

Raj Kannan: Thanks, Joe, for that question. I think this was an intensive discussion as well within the company, as you can imagine, with the recent results from the other CD47 targeting agents. I think it will be premature for us to make a decision on our molecule. We continue to believe that our molecule is differentiated. And we continue to enroll in our ongoing Phase 3 study in China. We do plan to review interim data early next year and complete an advisory panel to review all of the class data as it becomes available. and to compare what we have and then I would think our shareholders would appreciate that to make an informed decision in the first half of next year in advancing the molecule. So we’ll certainly further analyze the details of the ENHANCE study as well as the data becomes available in the public markets.

Joe Catanzaro: Okay. Perfect. Appreciate you taking my questions. Thanks so much.

Raj Kannan: Thanks, Joe.

Tyler Ehler: Thank you, Joe. I’d like to direct the next question to Louise Chen. Louise, please go ahead.

Louise Chen: Hi, thank you for taking my questions here and congratulations on the progress this quarter. So Raj, I wanted to ask you if you could elaborate more on your vision for I-Mab and how long it will take you to reach your objectives? Secondly, on CD47 again, just curious where you stand with your outside of China opportunity with AbbVie here and when you might reveal more details on your next-generation CD47 or is that project on hold right now? And then I know you’ve mentioned the givastomig ESMO presentation, but are there any other important data presentations throughout the end of the year at health care conferences that should be on our radar? Thank you.

Raj Kannan: Yep. Thank you, Louise, for all those questions. I’m going to remember every one of them as much as possible. And if I do forget, please reiterate it. We were practically writing those questions down. So the first one is what’s the timeline that I expect to deliver on the strategic objectives or the plan that I laid out? I think as you will see in the next couple of years, there’s quite a few catalysts that are going to become available to our stakeholders. And so I think I give myself 24 months to be able to start looking at the strategic plan and the progress that we’ve made. So that will be an important timeline for investors to understand that this is not going to happen overnight, but the shift in the focus and how we’re thinking about making into a US-based global biotech is going to take time.