Cellular Biomedicine Group Inc. (NASDAQ:CBMG) Q3 2019 Earnings Conference Call Transcript

Nov 06, 2019 • 04:30 pm ET

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Cellular Biomedicine Group Inc. (NASDAQ:CBMG) Q3 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Thank you for standing by. This is the conference operator. Welcome to the Cellular Biomedicine Group's Third Quarter 2019 Results Conference Call. As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. [Operator Instructions] I would now like to turn the conference over to Derrick Li, Head of Strategy and Investor Relations. Please go ahead.

Executive
Derrick C. Li

Good afternoon and thank you to everyone for joining us this afternoon. Speaking today is Chief Executive Officer and Chief Financial Officer of Cellular Biomedicine Group, Tony Liu. After he completes his quarterly update, we will open the call to questions. Please note that some of the information you'll hear during our discussion today will consist of forward-looking statements including without limitation, those regarding revenue, gross margin, operating expenses, other income and expenses, taxes, capital allocation and future business outlook.

Actual results or trends could differ materially from our forecast. For more information, please refer to the risk factors discussed in CBMG's most recently filed periodic reports on Form 10-K and Form 10-Q. Cellular Biomedicine Group assumes no obligations to update any forward-looking statements or information which speak as of their respective date.

I'd now like to turn the call over to Tony for introductory remarks.

Executive
Tony Liu

Thank you, Derrick, and thank you to everyone for joining us today. This was an exciting quarter for our Company on both the clinical and corporate side. We made a major commitment and started our US expansion for research and clinical development in a new 22,000 square foot facility in Rockville, Maryland in October 2019.

We plan to use the Rockville site to initially support our clinical development in hematological indications in the United States. As you recall, we leverage our China operations to develop and hone our CMC process, institutionalize the manufacturing process for swift, high quality, vein-to-vein delivery and build out [Indecipherable] clinical confidence via investigator initiated trials. While we believe those technology platforms are ready, we will add US clinical trial sites to our clinical endeavors. This Rockville site commitment marks a great milestone for us as we are excited about beginning clinical development in this site.

I am very proud of our team's progress to date. Our R&D team will be presenting at two upcoming medical conferences this quarter. First up is a Poster Presentation at the Society of Immunotherapy in [Phonetic] Cancer or SITC Annual Meeting in Maryland at 7:00 AM this Friday. The title of the presentation is the Next Generation Off-The-Shelf Universal CAR for Adoptive Immunotherapy.

Additionally, we will present at the American Society of Hematology Annual Meeting or known as ASH in Orlando, Florida. The presentation titled Developing a Novel Anti-BCMA CAR T for the Relapsed or Refractory Multiple Myeloma would be presented on December 7 at 7:45 AM at the Orange County Convention Center.

Speaking of lead IO asset, the anti-BCMA program for multiple myeloma, I want to step your expectations in terms of clinical