Financial Data and Key Metrics Changes - Research and development expenses for Q2 2025 totaled $7.9 million, up from $4.1 million in Q2 2024, primarily due to higher clinical trial and manufacturing costs related to selcolitinib [4] - The net loss for Q2 2025 was $8 million, compared to a net loss of $4.3 million in Q2 2024, which included a non-cash gain of $1.8 million related to warrant liability [5] - As of June 30, 2025, cash, cash equivalents, and marketable securities amounted to $74.4 million, an increase from $52 million at the end of 2024 [5] Business Line Data and Key Metrics Changes - The focus remains on the development of socolitinib for atopic dermatitis, with encouraging data from the Phase one trial showing a mean percent reduction of EASI score of 64.8% in cohort three compared to 54.6% in combined cohorts one and two [8][9] - In cohort three, 50% of patients achieved EZ75, 8% achieved EZ90, and 25% achieved IGA 0 or 1, indicating a favorable response compared to earlier cohorts [9] Market Data and Key Metrics Changes - The company is advancing clinical development in multiple areas, including atopic dermatitis and T cell lymphoma, with ongoing trials and expected data releases in late 2025 and 2026 [18] Company Strategy and Development Direction - The company aims to maintain a presence in dermatology while exploring new indications such as hidradenitis suppurativa and asthma, leveraging existing data and mechanisms of action [22][24] - The strategy includes the development of next-generation ITK inhibitors to target various diseases involving inflammation and cancer [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term potential of socolitinib, highlighting its favorable safety and efficacy profile [7] - The company anticipates that current cash reserves will fund operations into 2026, indicating a stable financial outlook [6] Other Important Information - The company plans to initiate a Phase 2 clinical trial for socolitinib in atopic dermatitis, enrolling approximately 200 patients with a focus on various dosing regimens [13][14] - A Phase 1b/2 trial of socolitinib for atopic dermatitis is set to begin in China, further expanding the drug's development [16] Q&A Session Summary Question: Thoughts on next indications for socolitinib in autoimmune disease - Management is considering hidradenitis suppurativa and asthma as potential follow-up indications due to unmet needs and existing data [22][24] Question: Update on ciforadenant in renal cell cancer - Management is awaiting data from the ESMO presentation and will decide next steps based on the results [26][28] Question: Enrollment status for PTCL trial - Enrollment is proceeding as planned with approximately 20 centers open, and guidance for data release remains intact [32][33] Question: Phase 2 trial design for atopic dermatitis - The trial will include four cohorts with different dosing regimens, and the design is standard for such studies [39][43] Question: Timeline for results from the Phase 2 trial - Enrollment is expected to take 12 to 15 months, with results anticipated in about 18 months [48] Question: Next-generation ITK inhibitors - Details on differences from socolitinib are limited due to intellectual property reasons, but the company believes they may target various mechanisms effectively [54]