Zafgen, Inc. (NASDAQ:ZFGN) Q3 2018 Earnings Conference Call Transcript

Nov 07, 2018 • 04:30 pm ET


Zafgen, Inc. (NASDAQ:ZFGN) Q3 2018 Earnings Conference Call Transcript


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Good day, ladies and gentlemen, and welcome to Zafgen's Third Quarter 2018 Financial Results Conference Call.At this time all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. As a reminder, this conference call is being recorded.

I'd now like to introduce your host for today's conference, Mr. John Woolford from Westwicke Partners. Mr. Woolford, you may begin.

John Woolford

Welcome, and thank you for joining us for Zafgen's Third Quarter 2018 Operating Highlights and Financial Results Conference Call. Joining us on the call today are Jeff Hatfield, CEO; and Patty Allen, CFO. Dennis Kim, Chief Medical Officer; and Brian McVeigh, Chief Business Officer are available for the question-and-answer portion of the call. After management's prepared comments, we will open up the call for questions.

(Forward-Looking Cautionary Statements)

Please also note that this call is being simultaneously webcast online.

I'll now turn the call over to Jeff to begin today's call. Jeff?

Jeff Hatfield

Thank you, John, and thank you, everyone for joining us today to discuss our third quarter 2018 operating highlights and financial results. Since we detailed data for our two leading programs in our last few quarterly calls, we'll keep this call fairly brief. I'll provide updates on recent clinical and pipeline developments for our three development stage candidates ZGN-1061, ZGN-1258 and our newly added early development candidate ZGN-1345. I'll then turn the call over to Patty to review third quarter financial results. Finally, I'll come back on and highlight our upcoming near-term milestones before opening the call up for questions.

As a quick reminder, for those who may be new to this Zafgen story, we are developing a second generation novel investigational MetAP2 platform with advanced chemistry and a unique mechanism of action for the treatment of rare and more prevalent complex metabolic diseases. Before we get into details, I'll quickly summarize some recent key highlights. For ZGN-1061, we've continued to progress our ongoing Phase II proof-of-concept trial and are pleased to report that the 1.8-milligram extension cohort is now fully enrolled.

For ZGN-1258, we had a significant presence at the Foundation for Prader-Willi Research or FPWR, annual conference last month. Our activities there included giving multiple poster presentations that highlight our broad array of nonclinical data for 1258; kicking off enrollment for our natural history study we're conducting in collaboration with FPWR, called PATH for PWS; and perhaps most impactful for us, spending quality time actively engaging with the PWS community. This really is the heartfelt mission, shared by all of us here at Zafgen, helping the families affected by this devastating disease. And to complete these introductory comments, we are also pleased to announce this quarter that we have formally advanced ZGN-1345, a novel oral MetAP2 inhibitor, to development candidate status, a differentiated third asset within our pipeline.

Now moving on to some additional detail. As I mentioned earlier regarding ZGN-1061, the company has continued to make progress in our 12-week Phase II proof-of-concept clinical trial for type