Cellectis(US:CLLS)2020-05-09 08:51Financial Data and Key Metrics Changes - Cellectis reported a cash position of $304 million as of March 31, 2020, unchanged from December 31, 2019, reflecting $28 million of proceeds and $5 million VAT received from Servier, offset by $29 million of net cash flows used in operations and $4 million unfavorable Forex impact [18] - The consolidated cash position, including Calyxt, was $351 million as of March 31, 2020, down from $364 million as of December 31, 2019, primarily due to $13 million of net cash flows used in operating and capital expenditures activities of Calyxt [19] - Selective stand-alone net income attributable to shareholders was $27 million in Q1 2020, compared to a net loss of $10 million in Q1 2019, driven by a significant increase in revenues and other income of $46 million [21] - Consolidated net income attributable to shareholders, including Calyxt, was $20 million or $0.47 income per share in Q1 2020, compared to a loss of $15 million or $0.36 loss per share in Q1 2019 [22] Business Line Data and Key Metrics Changes - Cellectis is progressing with three proprietary allogenic CAR-T cell product candidates in clinical development, with ongoing trials for UCART22, UCARTCS1, and UCART123 [7][10] - All three Phase 1 trials remain on track, with plans to share interim clinical data by the end of the year, contingent on COVID-19 impacts [12] Market Data and Key Metrics Changes - The company is focused on developing its deep pipeline of product candidates and completing the construction of its manufacturing facilities in Paris and Raleigh [23] Company Strategy and Development Direction - Cellectis aims to strengthen its position as a leader in gene-edited cell therapy, with plans to advance next-generation products into clinical development in the coming years [25] - The company is on track with its clinical development schedule and manufacturing site construction, which is designed to deliver full independence and internal know-how in gene editing and cell therapy [24] Management's Comments on Operating Environment and Future Outlook - Management expressed gratitude to healthcare workers and emphasized the company's commitment to advancing cancer treatments during the COVID-19 pandemic [6] - The company remains focused on its clinical programs and manufacturing capabilities, with a strong cash position to fund operations into 2022 [18][23] Other Important Information - Cellectis has amended its agreement with Servier, granting an expanded exclusive worldwide license for next-generation allogeneic CAR T-cell products targeting CD19, which includes rights to UCART19, ALLO-501, and ALLO-501A [20] Q&A Session Summary Question: Can you discuss how you will evaluate the dose for expansion after dose escalation? - Management indicated that optimal safety, translational data, and activity of the cells will be considered for determining the dose for expansion [27][28] Question: What are the criteria for the BALLI and AMELI studies to move into dose expansion? - The criteria include evaluating activity, safety, and combined translational data to determine the optimal dose for moving forward [33][34] Question: Can you provide insights on the ALLO-501A study readout at ASCO? - Management noted that the differences between ALLO-647 and alemtuzumab dosing would be evaluated, and they are looking to optimize lymphodepletion regimens [38][40] Question: How far into the dose escalation are you in each of the three studies? - All three programs are in lockstep, having cleared the first dose level and now exploring the second dose level [59] Question: What are your thoughts on the recent patent for CRISPR-edited T-cell therapies? - Management expressed confidence in the enforceability of the patent and highlighted the company's early adoption of CRISPR technology in T-cells [66][67]