Oncolytics Biotech Inc. (NASDAQ:ONCY) Q1 2023 Earnings Call Transcript

Andrew de Guttadauro: Yes. Absolutely. So if you remember from Science Translational Medicine article each of the mice that had these dramatic responses utilized two doses of pelareorep. One that was basically conjugated with the CAR T and administered to the mouse, and then a boost dose afterwards. So the goal is to open up solid tumors for CAR Ts because they struggle to show any efficacy there. And Kirk, you know, solid tumors are 85% of the market, so it’s right now running fallow. But it’s about selling CAR Ts in the solid tumors. Two doses of pelareorep are dropped in a bucket for us compared to the potential in breast or pancreatic cancer. So it’s not about selling Pela, it’s about selling the $400,000 CAR T and say a liver patient, but for the pela would not be able to be treated with the CAR T.

So the way we see this working is that there would be some kind of an upfront that would be determined by the number of CAR Ts involved, the number of tumor targets involved, then there might be some development regulatory milestones along the way, but the big revenue would be some sort of double digit royalty on the sale of that CAR T in every patient where pelareorep is added for the treatment. So, it could potentially turn into a nice revenue stream for us that could be applied to any number of our needs. But it is not our core focus. We would advise and provide pelareorep to the CAR T developing and then commercializing the combination. But we don’t have any immediate term to get into CAR T business ourselves.

Kirk Look: Yes. Then with respect to our cash and cash runway, we reported just under $30 million at the end of the quarter. We anticipate that that provides a runway of at least 12 months. In terms of catalyst and milestones the cash on hand gets us through well clearly the ASCO BRACELET presentation we have CAR T updated ASCO as well. In addition, the GOBLET study we are targeting to provide efficacy updates on the pancreatic cancer cohort. We’re targeting ESMO, but that’s to be determined. And the other cohorts, the colorectal and the anal cancer cohort, we do expect to provide interim updates on those on those other cohorts in the second half of the year. And our runway takes us through those events.

Louise Chen: Thank you.

Operator: Thank you. Next question will be from Patrick Trucchio at H.C. Wainwright. Please go ahead.

Patrick Trucchio: Thanks. Good morning. Just one clarification as it relates to BRACELET-1 and the registration path for HR-positive/HER2-negative metastatic breast cancer. It sounds like you would need just the one pivotal study to submit for potential approval, though maybe you could elaborate more on that point specifically and potential for the accelerated approval pathway and how this upcoming ASCO data specifically could facilitate this pathway. And secondly, can you give us an update on the GOBLET program, including the expected next data release in the second half, the timing of this data and what you would be looking for here to give confidence to advance the program to a registrational study? Thank you.

Thomas Heineman: Absolutely. So to start with the GOBLET, we’ve spoken with AIO and our Principal Investigator, Dirk Arnold. We are starting to see maturity in the pancreatic data. So, we’ll be able to present PFS and we likely believe evolving or somewhat mature OS by ESMO GI, which is in Barcelona in October. So, that’s really the timeframe that we’re working to. We’re also hoping to provide updates on the other three cohorts likely again, within that timeframe of ESMO GI just because it is such a, a great showcase for GI therapies. And we’d have the right audiences, right KOLs. So we think that would be very an opportune timing. The PEG data we’ve discussed with stakeholders, the signal was so strong we could have expanded that to an additional 30 patients.