Financial Data and Key Metrics Changes - The company reported a significant improvement in cash position, with cash and cash equivalents as of September 30, 2025, at $227.6 million, compared to $36.1 million as of December 31, 2024 [22] - The company achieved 86% overall survival at nine months in 34 first-line pancreatic cancer patients treated with Tevid MetNib plus modified gemcitabine nab-paclitaxel, compared to approximately 47% overall survival reported for the standard of care [19][20] Business Line Data and Key Metrics Changes - The focus remains on the combination of Tevid MetNib with modified gemcitabine nab-paclitaxel as the top priority, while the combination with FOLFIRINOX is also being explored due to promising case study results [17][31] - The company is planning a phase 3 study for Tevid MetNib in combination with gemcitabine nab-paclitaxel, with the first patient expected to be dosed in mid-2026 [23] Market Data and Key Metrics Changes - The company announced a $225 million cumulative financing, including a $25 million strategic investment from Sanofi, extending the cash runway into 2029 [19][22] - The U.S. Patent Office granted a patent for Tevid MetNib, expected to provide exclusivity into 2042, with pending applications extending exclusivity into late 2044 [20] Company Strategy and Development Direction - The company aims to demonstrate Tevid MetNib's combinability across various tumor types, potentially expanding its market opportunity beyond first-line pancreatic cancer [21] - The management emphasizes the importance of overall survival data in the first-line setting as a key differentiator in the competitive landscape [35] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential of Tevid MetNib to provide differentiated outcomes for cancer patients, highlighting the importance of tolerability and overall survival [18][35] - The company is preparing for upcoming milestones, including regulatory feedback and updates on circulating tumor DNA data [23] Other Important Information - The company is exploring various combinations for Tevid MetNib, including with Libtayo and Olomorasib, to address different patient populations in lung cancer [50] - The management highlighted the unique mechanism of Tevid MetNib in mitigating resistance mechanisms, which could enhance its effectiveness in treating various cancers [56] Q&A Session Summary Question: Are there opportunities for PDAC in the adjuvant setting? - Management indicated that while the first-line setting is the top priority, they are considering various opportunities, including the adjuvant setting, for future exploration [27][28] Question: Will there be plans to share full data from the FOLFIRINOX combination cohort? - Management stated that sharing data from the FOLFIRINOX arm is not currently a top priority, as the focus remains on the combination with gemcitabine nab-paclitaxel [40] Question: What is the timeline for the study with Eli Lilly and how do the two combinations differ? - Management confirmed that the first patient in the study with Regeneron's Libtayo is expected to be dosed in the second half of 2026, while the timeline for the Eli Lilly study is still being determined [48][50] Question: What type of patients are best suited for the combination with FOLFIRINOX? - Management noted that Tevid MetNib could help a broad set of patients in the first-line setting without the need for genetic testing, emphasizing its potential for durability and effectiveness [54][55]