Moderna Inc (NASDAQ:MRNA) Q3 2019 Earnings Conference Call - Final Transcript

Nov 06, 2019 • 08:00 am ET


Moderna Inc (NASDAQ:MRNA) Q3 2019 Earnings Conference Call - Final Transcript


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Good morning and welcome to the Moderna's Third Quarter 2019 Conference Call. [Operator Instructions].

At this time, I'd like to turn the call over to Lavina Talukdar, Head, Investor Relations at Moderna. Please proceed.

Lavina Talukdar

Thank you, operator. Good morning and welcome to Moderna's third quarter 2019 conference call to discuss business updates and financial results. You can access the press release issued this morning, as well as the slides that we'll be reviewing, by going to the Investors section of our website. Today on this call we have Stephane Bancel, our Chief Executive Officer; Tal Zaks, our Chief Medical Officer; Stephen Hoge, our President; and Lorence Kim, our Chief Financial Officer.

Before we begin, I would like to remind everyone that this conference call will include forward-looking statements. Please see Slide 2 of the accompanying presentation and our SEC filings for important risk factors that could cause our actual performance and results to differ materially from those expressed or implied in these forward-looking statements. We undertake no obligation to update or revise the information provided on this call as a result of new information or future developments or updates.

I will now turn the call over to Stephen.

Stephane Bancel

Thank you Lavina, and good morning everyone. We are committed to building mRNA as a new class of medicines. We model our position to remain the leader in the field. As you know, we believe our mRNA medicines have a potential to help patients by addressing large unmet medical needs and treating diseases that are not addressable by recombinant proteins or small molecules.

Due to the platform nature of mRNA, we believe our mRNA medicines provide a higher probability of technical success and faster timelines to clinical trials compared to the traditional medicine. We also believe that the manufacturing capacity intensity of mRNA is materially lower than recombinant protein and the cost of manufacturing at commercial scale will be similar to small molecule injectables. We continue to focus on managing risk across our portfolio, especially technology and biology risk.

In the quarter, we were proud to share positive Phase I data for two important milestones, our CMV vaccine and our antibody against the Chikungunya virus delivered IV. We show that we successfully immunized seronegative subject to CMV and boosted seropositives. We plan to start a Phase II study very soon, the GMP material has already been made and the study protocol has been submitted to the FDA.

At the three-month interim results of our Phase II trial, we should be able to make the decision for a Phase III dose. The team is already spending a lot of energy to plan for a Phase III study. We believe our CMV vaccine could, if approved, change the future of thousands of children around the world by preventing birth defect. Moderna owns the global commercial rights to the CMV vaccine.

We also presented data from the first ever mRNA encoded antibody in a human study. We are very proud of this major scientific achievement and