Intrexon Corp (NASDAQ:XON) Q2 2019 Earnings Conference Call - Final Transcript

Aug 08, 2019 • 05:30 pm ET


Intrexon Corp (NASDAQ:XON) Q2 2019 Earnings Conference Call - Final Transcript


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Steven Harasym

These patients were administrated INXN-4001, to explore the safety of our Triple-Gene effector drug through minimally-invasive retrograde coronary sinus infusion delivery route. Following review of data from cohort one, an independent data and safety monitoring board agreed to proceed into the second cohort. We look forward to providing dosing and data updates by year end.

Next slide. Our wholly-owned subsidiary, ActoBio Therapeutics continues to progress its micro-based therapeutic clinical program. We announced that an independent data and safety monitoring board recommended advancing to the next stage of the Phase Ib/IIa clinical trial for AG019, our potential disease modification therapy for type 1 diabetes. We have initiated enrollment of the next 2 patient cohorts in the study, dosing adolescents, in the Phase IIa arm in a combination of dosing AG019 plus teplizumab in adults. Enrollment in these arms is progressing well. As a reminder, type 1 diabetes is an autoimmune disease, affecting over 1 million children and adults in the US with no treatment available for the underlying condition.

Finally, in ActoBio, our partner Oragenics is nearing completion of the enrollment of patients in the Phase IIb clinical trial for AG013, for the treatment of oral mucositis, which is one of the most common adverse effects associated with chemotherapy. We are hoping to share first line data early next year. Our final update here is going to be around our fine chemicals business, specifically the cannabinoid production. In June, we partnered with Surterra Wellness in an exclusive global licensing agreement to advance Surterra's cannabinoid production at a reliable, efficient, cost-effective, industrial-scale utilizing Intrexon's proprietary yeast fermentation platform.

I will now turn the call over to Tom for an update on some of our non-health programs, our ongoing transactions and for a financial update.

Thomson Bostic

Thank You, Steve.

Next slide. Over the first half of the year, Okanagan Specialty Fruits placed fresh slice Arctic apples to select markets as well as sold our dehydrated fry cut ApBitz apple snack on Amazon and launch this product in retail stores. The intent was to use our limited volume 2018 apple crop to build market channels for the expected increasing volumes. In April, the Company planted 955,000 new Arctic apple trees on 650 acres in Washington State. This planting included the first 80 acres of Arctic Fujis, which received approval from the FDA in April of this year. Orchard operations now total 1.9 million trees on 1,250 acres. We are expecting to crop 217 acres of orchard in September, October, with an estimated 10,000 bins or 8 million pounds of apples anticipated. This is a fivefold increase over 2018. Our Arctic Golden harvest will be completed in September and the Arctic Grannys in September. The Company has plans to expand sales in the food service market channels with the 2019 crop.

Next slide. Oxitec, a wholly-owned subsidiary of Intrexon, successfully completed the first pilot project of its second-generation Friendly Aedes aegypti technology in Brazil, a mosquito strain that unlocks new performance features, greater cost-effectiveness and scalability