Vascular Biogenics Ltd. (NASDAQ:VBLT) Q2 2020 Earnings Conference Call - Final Transcript

Aug 13, 2020 • 08:30 am ET

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Vascular Biogenics Ltd. (NASDAQ:VBLT) Q2 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Greetings, and welcome to the VBL Therapeutics Second Quarter 2020 Earnings Conference Call. [Operator Instructions]. As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Michael Wood of LifeSci Advisors. Please go ahead, sir.

Executive
Michael Wood

Thank you, operator. Good morning, and thank you all for participating in today's Second Quarter 2020 Results and Corporate Update Call for VBL Therapeutics. Leading the call today will be Professor Dror Harats, CEO of the Company; and Amos Ron, the Company's CFO.

A press release with the financial results became available at 7:00 A.M. Eastern Time today and can be found on the Investors page of the Company's website at vblrx.com.

Before we begin, I'd like to remind everyone that various remarks about future expectations, plans and prospects constitute forward-looking statements for the purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. VBL cautions that these forward-looking statements are the subjects of risks and uncertainties that could cause actual results to differ materially from those indicated. Any forward-looking statements made on today's conference call speak only as of today's date, that's Thursday, August 13, 2020. And the Company does not intend to update any of these forward-looking statements to reflect events or circumstances that occur after today's date. As a reminder, the conference call is being recorded and it will be available for audio rebroadcast on the company's webcast.

As the operator mentioned, all participants are currently in listen-only mode and there will be a brief Q&A session following the Company's prepared remarks.

So with that, I'd like to turn the call over to Professor Harat -- Professor Harats, CEO of VBL. Dror, please go ahead.

Executive
Dror Harats

Thank you, Michael, and good morning, everyone. Joining me on today's call is Amos Ron, our Chief Financial Officer, who will discuss the second quarter 2020 financial results. We are now just past the midpoint for the year and we are very happy with the progress the Company made so far, and the milestones we have achieved. Our clinical programs evaluating VB-111 continued to move forward and our work with MOSPD2 monoclonal antibodies is advancing toward the first IND filing. We also strengthened our balance sheet during the quarter with successful completion of two equity financing.

Let me begin with an update on our Phase III OVAL study, which is investigating VB-111 in platinum-resistant ovarian cancer. Ovarian cancer is a silent killer with a high mortality. According to the NIH official data, in 2017, there were over 230,000 women living with ovarian cancer in the United States. Ovarian cancer is frequently detected in advanced stages as the patients are asymptomatic in the early stage. Treatment advanced disease usually include surgery and platinum-based chemotherapy.

Unfortunately, most of the patients who achieved remission with first-line chemotherapy will ultimately develop recurrent disease and each subsequent line of therapy is characterized by shorter disease-free intervals. The worst outcome are reported for patient with platinum-resistant disease.

In spite of investment of substantial