ERYTECH PHARMA SA (NASDAQ:ERYP) Q1 2020 Earnings Conference Call - Final Transcript

May 07, 2020 • 08:30 am ET


ERYTECH PHARMA SA (NASDAQ:ERYP) Q1 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by and welcome to the ERYTECH's First Quarter 2020 Conference Call. [Operator Instructions]

I would now like to turn the conference call over to your host, Mr. Gil Beyen, Chief Executive Officer. Please go ahead, sir.

Gil Beyen

Thank you. Good afternoon in Europe. Good morning here in the US. Hoping you're all well and safe and thanks for joining us for this Q1 '20 earnings call. It feels like we're in a different world compared to the previous call, mid-March. You will have seen it, we announced our business and financial update yesterday evening. You should be able to find the press release and the earnings presentation on our Investor Relations page of our website.

Here today, with me joining in this call are Iman El-Hariry, our Chief Medical Officer; and Eric Soyer, our Chief Financial and Chief Operating Officer. Turning to page 2, to the forward-looking statements. Want to draw your attention to the disclaimer and you see we highlighted the COVID, we provided an update recently and so, we are managing overall relatively or even well the situation, but obviously we continue to monitor very closely the potential for the impacts of the COVID. So, and then, I'll invite you to read the rest of the forward-looking statements obviously.

On slide 3, the Agenda. It's the usual routine. I will start with a business update, I'll hand over to Eric for the financial highlights in the first quarter. We then -- he will also summarize the news flow and the milestones and then we'll open up for Q&A very quick and all three of us will be available for the questions and answers.

On the next slide, slide 4. I think you all know this by heart, just for reminders, complete this quick reminder of who we are, the leading red blood cell company and obviously, focused on cancer metabolism, late stage fully operational manufacturing sites in Lyon and Princeton both producing for our clinical trials and indeed listed on Euronext Paris and NASDAQ. So, I don't think I need to remind further this slide.

I go immediately to the heart of the matter, slide 5, the TRYbeCA-1, I think you see that the main focus of this update. So, notwithstanding the COVID related challenges and we already announced it, that we're very pleased and proud to say that the trial has over the past weeks reached several very important milestones. So, we are well over 75% enrolled of the total approximately 500 patients to be enrolled.

We had this second -- this third safety review by the IDMC, now on 320 patients and again, there was no safety signal highlighted and the trial continued as with recommendation was to continue the trial as planned. And then, indeed recently, we got this Fast Track designation, which we believe indeed is a nice confirmation of the unmet medical needs we are working on and that our clinical data so far are perceived as encouraging