BiomX(US:PHGE)2021-03-31 15:08Financial Data and Key Metrics Changes - Cash balance and short-term deposits as of December 31, 2020, were $57.1 million, down from $82.4 million as of December 31, 2019 [34] - Research and development expenses increased to $21 million in 2020 from $13.5 million in 2019, primarily due to growth in employee numbers and clinical trial manufacturing [34] - General and administrative expenses rose to $9.3 million in 2020 from $8.7 million in 2019, attributed to costs associated with operating as a public company [35] - Net loss for 2020 was $30.1 million compared to $20.6 million in 2019, with net cash used in operating activities at $24.4 million for 2020, up from $17.6 million in 2019 [36] Business Line Data and Key Metrics Changes - The company added two new programs to its pipeline in 2020: atopic dermatitis and cystic fibrosis, alongside positive Phase 1 data for its lead program in acne-prone skin [7][31] - The BOLT platform has enabled rapid development and formulation of phage therapy candidates, with four meaningful clinical data readouts expected within the next 15 months [9][12] Market Data and Key Metrics Changes - The microbiome space has seen significant momentum, with many companies researching its effects on various diseases, indicating a growing market opportunity for BiomX's unique phage therapy approach [11] Company Strategy and Development Direction - BiomX aims to become a leader in microbiome health by utilizing phage therapy to target and eliminate pathogenic bacteria while preserving beneficial bacteria [30] - The company is focused on advancing its pipeline with multiple clinical readouts expected, including Phase 2 studies in acne-prone skin, cystic fibrosis, and atopic dermatitis [10][21][27] Management's Comments on Operating Environment and Future Outlook - Management expressed pride in the company's progress despite COVID-19 challenges, highlighting the dedication of the research and development team [8] - The company anticipates a busy and productive 15 months ahead, with significant clinical data readouts expected [9][32] Other Important Information - The BOLT platform's capabilities include computational biology, microbiology, and synthetic engineering, which have been crucial for the rapid development of the company's pipeline [12][13] Q&A Session Summary Question: Inquiry about the BOLT platform and specific candidates - Management confirmed that hundreds of candidates were screened for BX004 and BX005, leading to the selection of the most promising cocktails based on their host range and clinical outcome parameters [38] Question: Data expectations from the cystic fibrosis study - The primary endpoint will focus on safety and tolerability, with exploratory endpoints assessing the reduction of bacterial burden and improvements in lung function and quality of life [40][41] Question: Insights from Phase 1a data of BX002 - Key outcomes included the ability to deliver high levels of phage to the GI tract and confidence in the therapeutic window, with phage levels significantly exceeding target bacteria levels [45][46] Question: Future plans for the colorectal cancer program - Management expressed excitement about the potential of the colorectal cancer program, emphasizing its unique approach and the possibility of partnerships for future applications [72][75]