Vir Biotechnology, Inc. (NASDAQ:VIR) Q2 2023 Earnings Call Transcript

Phil Pang: Thank you, Marianne. So, Paul, great to talk to you again. And before we get going here, as Marianne mentioned, I think it’s important to say before we can talk about what’s going to be new, I just wanted to reiterate what we’ve seen most recently at the last two liver congresses. So, as Marianne noted, at AFLB last year, we saw that a short course of the siRNA-2218 and 3434 was additive, but that duration was only four and 13 weeks. And so what we’re looking for that’s going to be new at ASLB in the fourth quarter of this year is the 24 week data of combining the two of these drugs together. We’re also going to be looking at these two drugs together with the addition of interferon alpha. And I think all of that together is what will be new, along with of course, new data from hepatitis delta.

Sasha Damouni Ellis: Operator, can you go to the next question?

Operator: Okay, our next question comes from Roanna Ruiz from Leerink Partners.

Roanna Ruiz: Great, thanks. Hello, everyone. So maybe first question on Delta virus, what specific measures could you disclose in the Phase 2 SOLSTICE trial and what’s the efficacy bar that you’re looking for?

Marianne De Backer: Thank you for that question, Roanna. I will ask Phil to give you some more details on that.

Phil Pang : Thank you, Marianne, and thank you Roanna. So with regard to our Delta trial solstice, remember at Eazl this last year, this last June, actually, sorry, this past June, we just showed that in preclinical models 3434, our FC enhanced monoclonal antibody was able to knock down the hepatitis delta virus or the RNA from the virus. And we also showed that 2218, our siRNA could do the same and that when combined in an animal, they were additive in their behavior. So now we’re looking at solstice, which also began in the early part of the spring. And we’re asking ourselves the question, can 3434 alone, 2218 alone, and what’s going to happen if you add the two of these drugs together in terms of their ability to knock down hepatitis delta RNA virus?

So that’s what we’re looking forward to seeing at in the fourth quarter of this year. As you know, the efficacy bar is, rather the bar for getting approval is a two-long reduction in hepatitis delta RNA and normalization of ALT, which is only seen 45% of the time with the only currently available drug, and that drug requires daily subcutaneous injections. What we’re hoping for is transformative efficacy along with maybe having only an injection once or twice a month. So I think that that can be very differentiating for us. Now in terms of what we’re going to actually see in terms of data, as I mentioned, it’ll be the monotherapy and the combination, but this is early data from a small cohort. So we want to be able to see are they actual antivirals in patients?

And that’s what we look forward to seeing.

Marianne De Backer: Yes, a few more days are coming forward to us next year.

Roanna Ruiz: Okay, great. And I have a quick follow-up. Yes, maybe bigger picture. Could you give us a sense of what your strategic priorities for the company will be in 2024? And I guess thinking about flu, Delta virus, HPV, and all the programs you have going on, are some of them going to shift to like higher focus next year? And like, what should we be following more closely along those lines?

Marianne De Backer: Yes, thank you for that question. As mentioned before, as it relates to our flu program, what next steps are going to be are really going to be determined by further analysis of the data. But our, near and intermediate focus is really on our clinical programs. So, chronic hepatitis B and chronic hepatitis delta, those are really our top priorities. We will also be bringing HIV program into the clinic in the next, this quarter. So our focus, our capital allocation will really be all around making sure that as fast and as efficiently as possible we can progress those programs towards data.