Evelo Biosciences, Inc. (NASDAQ:EVLO) Q2 2020 Earnings Conference Call - Final Transcript

Jul 30, 2020 • 08:30 am ET

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Evelo Biosciences, Inc. (NASDAQ:EVLO) Q2 2020 Earnings Conference Call - Final Transcript

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Q & A
Operator
Operator

Thank you. [Operator Instructions] Our first question or comment comes from the line of Connor Meehan from Morgan Stanley. Your line is open.

Analyst
Connor Meehan

Hi, all. This is Connor Meehan on for Matthew. Thanks for taking the question. So you touched basically -- or you touched briefly on the response rates of pembro alone. But can you just comment on the initial efficacy for 1503? And, I guess, how you intend to evaluate the supplementary effect that that has above or beyond pembro alone? And then just quickly, what kind of commercial contribution do you see for the COVID program, if successful? Thank you.

Executive
Balkrishan Gill

I'll let Duncan answer the question on how we're looking at the combination study in terms of the readouts and how we're setting that ongoing TNBC combination clinical study with pembro. Duncan, do you want to take that question? And then hand back to me, and I'll answer the question about COVID-19.

Executive
Duncan McHale

Yeah. Sure. Meehan, this is, as you aware [Phonetic] an open-label combination -- an open-label cohort of the combination. So, really what we are comparing is the objective response rate or overall response rate we see within that cohort with the historical data. So, we're looking really for what would be sort of a significant increase over the sort of historic rate of 5% to 10%. So here, as we've sort of seen at the minute, a response rate of 25% would suggest that where EDP1503 is doing something more than the pembrolizumab. And the combination is, therefore, better than pembrolizumab alone with all the caveats of historical response. We're also looking at some of the biomarker data with some of the predictors of pembrolizumab response, and that data would be released at a conference in the upcoming time.

Executive
Balkrishan Gill

So Connor, hopefully, that was helpful. Let me answer your other question on COVID-19. It's actually an incredibly straightforward question for us, which may or may not be true for other biotech companies. So the reason it's a very straightforward question for us, Connor, as you know, from our outset, we had a very clear vision and purpose for the Company, which we've been very public on since we founded the Company. And that vision is to create a new profile of medicine which would be not only effective but also safe, convenient by oral delivery and affordable. We've always been incredibly clear about that point. And our definition of affordable is something that is affordable for all populations globally, and all patients at all stages of disease. That is enabled because of the power of SINTAX, which opens up the possibility to create that profile in a way which is not addressable with other things.

So, going back to some of the prepared comments we made, the reason -- for example -- for the reasons, for example, antibodies aren't used in moderate or earlier stage patients with inflammatory disease linked to the cost, linked to the inconvenience of injections and infusions, as well as potential concerns,