Aptose Biosciences Inc. (NASDAQ:APTO) Q3 2018 Earnings Conference Call Transcript
Nov 07, 2018 • 08:00 am ET
Good morning, ladies and gentlemen. My name is Catherine, and I will be your conference operator today. I'd now like to welcome everyone to the Aptose Biosciences Conference Call for the Third Quarter ended September 30, 2018.
At this time all participants are in a listen only mode. After the speakers' remarks, there will be a question-and-answer session. (Operator Instructions). Thank you. As a reminder, this conference call may be recorded.
I'd now like to introduce Susan Pietropaolo. Please go ahead.
Good morning, and welcome to the Aptose Biosciences conference call to discuss financial and operational results for the third quarter ended September 30th, 2018.
I'm Susan Pietropaolo, a Communications representative for Aptose Biosciences. Joining me on the call today are Dr. William G. Rice, Chairman, President and CEO; and Mr. Gregory Chow, Senior Vice President and Chief Financial Officer.
(Forward-looking Cautionary Statements)
I'll now turn the call over to Dr. Rice, Chairman, President and CEO of Aptose Biosciences. Dr. Rice?
William G. Rice
I'd like to welcome everyone to our call for the quarter-ended September 30, 2018. Those of you on the call already know that Aptose is developing two exciting hematology drugs, APTO-253 and CG-806. While mechanistically, they are distinct from one another, both have thus far demonstrated robust safety profiles. One of the characteristics that distinguishes them from many other hematology drugs on the market.
Preclinical findings for both have been compelling, and we now have reached important junctures in their development. We just recently announced that we have reinitiated the Phase Ib clinical trial with APTO-253, our small molecule MYC inhibitor.
And first today, I'll bring you up-to-date on that product candidate and our clinical strategy. Next, we will discuss our small molecule pan-FLT3/pan-BTK inhibitor, CG-806, that is approaching IND stage. We continue to uncover characteristics for this drug candidate that make it even more compelling, and we are being very disciplined in its development to give the best possible chance for its success.
We will also review a few business highlights for the quarter, and following these updates, Mr. Greg Chow will review our quarterly financials. Following the financial update, we will then open the call for your questions.
So first, I'm pleased to bring you up-to-date on APTO-253, which recently returned to the clinical setting with a new formulation, following a high risk due to a manufacturing issue with the original formulation. For those of you who may be new to Aptose, APTO-253, or just 253 as I will call it, is the only known clinical-stage molecule that has the potential to directly target the MYC oncogene and inhibit MYC expression.
MYC dysregulation is a common driver in many malignancies, including acute myeloid leukemia, or AML, making an attractive therapeutic target. However, other therapies directed at MYC are limited by severe toxicities, drug resistance, myelosuppression and the difficulty in targeting the MYC protein itself.
Aptose researchers have reported the ability of 253 to induce apoptotic cell death and multiple blood cancer cell lines, including AML as well as