Evelo Biosciences(US:EVLO)2020-08-02 10:47Financial Data and Key Metrics Changes - The company completed a follow-on offering, raising $52 million to support clinical development programs in inflammation and oncology [7][13] - The company expects to generate six clinical readouts within the next 6 to 12 months, indicating a robust pipeline [8][39] Business Line Data and Key Metrics Changes - EDP1815 is being developed for psoriasis and COVID-19, with a Phase 2 dose-ranging study expected to initiate in Q3 2020 [24][36] - EDP1503 is in clinical trials for triple-negative breast cancer, showing promising early results with a 25% overall response rate in a small cohort [32][33] Market Data and Key Metrics Changes - The potential market for EDP1815 includes over 3.5 million people in the U.S. and EU5 with mild to moderate psoriasis, and an estimated 20 million globally [10][11] - The company is targeting a broad range of immune disorders, with over 600 million people affected worldwide [11] Company Strategy and Development Direction - The company aims to harness the small intestinal axis (SINTAX) to develop a new class of medicines that are effective, safe, convenient, and affordable [9][39] - The strategy includes expanding discovery into neuroinflammatory disorders, metabolic dysfunction, and viral-related inflammatory syndromes [40] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to recruit for clinical trials despite challenges posed by the COVID-19 pandemic, with a conservative guidance on timelines [52][53] - The company is prepared to provide product for 10 million to 15 million COVID-19 patients, with initial investments already made [72] Other Important Information - The company has received regulatory and ethics authorization for its Phase 2 trial in multiple regions, including the U.S., U.K., and EU [24] - EDP1867, a non-live product candidate, is expected to enter trials in early 2021, expanding the company's portfolio in inflammatory diseases [37][60] Q&A Session Summary Question: Initial efficacy for EDP1503 and commercial contribution for COVID program - Management indicated that the objective response rate for EDP1503 is being compared to historical data, with a current response rate of 25% suggesting added efficacy [44] - The company aims to provide affordable medicines globally, leveraging the unique properties of SINTAX [46][65] Question: Status of Phase 2 psoriasis study - Management confirmed that they are preparing to initiate the Phase 2 study shortly, with increased site numbers to mitigate recruitment risks [53][54] Question: Long-term commercial outlook for COVID treatment - The company plans to price its COVID treatment affordably, ensuring accessibility for large patient populations [66] Question: Clinical development path for oncology products - Management outlined plans for blinded studies to demonstrate antitumor activity before exploring combination therapies [80]