Financial Data and Key Metrics Changes - The company has extended its cash runway into Q1 2027, providing sufficient margin to allow ongoing trials to complete [47][48] - The company reported a 20% reduction in SALT score at week 36 in part A, with expectations to improve upon this in part B [28][29] Business Line Data and Key Metrics Changes - The company is advancing bempikibart, focusing on alopecia areata, with ongoing enrollment in phase 2 part B after positive results from part A [5][36] - In part A, statistically significant hair improvement was observed at week 24, with no grade 3 or higher related events reported [8][12] Market Data and Key Metrics Changes - The competitive landscape includes other IL-7 receptor alpha programs, with the company believing it has a best-in-class asset due to its pharmacology and dosing advantages [43][44] Company Strategy and Development Direction - The company is focusing on immunomodulating agents rather than immunosuppressants, aiming for clinically meaningful efficacy with durable responses [31][32] - Future trials may include registrational studies, with potential for seamless phase 2 part B/3 trials [36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the differentiated profile of bempikibart, emphasizing its safety and potential for durable effects [49][51] - Early signs in part B indicate improved responsiveness compared to part A, suggesting that changes made to the trial design are effective [52][53] Other Important Information - The company has made significant changes to trial design in part B, including a loading dose regimen and modified inclusion criteria to enhance patient responsiveness [9][25] - Management noted that the atopic dermatitis trial did not yield expected results, but it provided valuable insights for future indications [42] Q&A Session Summary Question: What are the next steps for bempikibart? - The next steps could include registrational trials, with various options being considered for the trial design [36] Question: How does the company plan to fund operations moving forward? - The company has sufficient cash runway into 2027 and is exploring strategic options for further funding [47][48] Question: What differentiates bempikibart from competitors? - The company believes its pharmacology and dosing regimen provide a competitive edge over other IL-7 receptor alpha programs [43][44] Question: What are the expectations for part B results? - Management hopes to see improved efficacy and responsiveness in part B compared to part A, with a focus on clinically meaningful outcomes [52][53]