CytomX Therapeutics, Inc. (NASDAQ:CTMX) Q2 2020 Earnings Conference Call - Final Transcript

Aug 06, 2020 • 05:30 pm ET


CytomX Therapeutics, Inc. (NASDAQ:CTMX) Q2 2020 Earnings Conference Call - Final Transcript


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Good day, ladies and gentlemen, welcome to the CytomX Therapeutics Second Quarter 2020 Financial Conference Call. [Operator Instructions]

I would now like to introduce your host for today's conference call, Christopher Keenan, Vice President of Investor Relations. Chris, please go ahead.

Christopher Keenan

Thank you, Valerie. Good afternoon and thank you for joining us. Earlier today we issued a press release that includes a summary of our recent progress and second quarter 2020 financial results. This press release and a recording of this call can be found under the Investors and News section of our website at

With me today are CytomX's President and Chief Executive Officer and Chairman, Dr. Sean McCarthy and CytomX's Chief Financial Officer, Carlos Campoy.

During today's call we will be making forward-looking statements. Because forward-looking statements relate to the future, they are subject to inherent uncertainties and risks, including the uncertainties surrounding the COVID-19 pandemic that are difficult to predict and many of which are outside of our control. Important risks and uncertainties are set forth in our most recent public filings with the SEC at, including our Form 10-Q filed today. We undertake no obligation to update any forward-looking statements whether as a result of new information, future developments or otherwise.

I would like to turn the call over to Sean.

Sean A. McCarthy

Great. Thank you, Chris, and good afternoon everyone. Thanks for joining us. It's a pleasure to be here to provide an update on our progress during the second quarter of 2020. I'll begin today's call with a brief overview of our recent achievements, including our presentations at ASCO 2020 and the next steps for our lead clinical programs. I'll also comment briefly on our preclinical discovery progress and we'll then turn the call over to Carlos to review our second quarter financial results. We'll then open the call up for questions.

At CytomX, we are pioneering a novel class of therapeutic antibodies, designed to target cancer tissue, allowing for the development of an innovative pipeline of novel cancer therapies. Over the past decade, we have built a strong scientific foundation for our novel technology, which has the potential to change the way we think about antibody therapeutics. Our technology called the Probody platform is designed to direct an antibody's anti-cancer activity towards tumor tissue and away from normal healthy tissue, allowing us to attack new classes of targets that have previously been considered inaccessible to conventional antibody approaches.

Our primary strategy is to use our technology to make first-in-class anti-cancer drugs for the potential treatment of a wide range of cancers by targeting these previously undruggable targets. We're also utilizing our technology to discover and develop potentially best-in-class immunotherapies.

We have four clinical stage programs, advancing towards or already in Phase 2 clinical studies. These are CX-2029, a Probody drug conjugate targeting CD71, that we are advancing with a Phase 2 studies in multiple tumor types, including head and neck and non-small cell lung cancers. CX-2009, a Probody drug conjugate targeting CD166 that we