Release Date: August 15, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- Bio-Path Holdings Inc (BPTH, Financial) presented compelling interim efficacy data for their lead product candidate, prexigebersen, at prestigious medical meetings, showcasing its potential in treating acute myeloid leukemia (AML).
- The company announced the development of a molecular biomarker package to enhance the success probability of prexigebersen treatment by identifying patients more likely to respond.
- BP1002, targeting the Bcl-2 protein, completed the second dose cohort in its Phase I/Ib clinical trial, showing promise for patients resistant to current treatments.
- Bio-Path Holdings Inc (BPTH) strengthened its financial position with a $4 million financing, supporting its clinical development plans.
- The company reported a significant reduction in net loss for the second quarter of 2024 compared to the same period in 2023, indicating improved financial management.
Negative Points
- Bio-Path Holdings Inc (BPTH) continues to operate at a net loss, reporting a $1.9 million loss for the second quarter of 2024.
- Research and development expenses decreased, primarily due to reduced manufacturing expenses, which may indicate potential delays or scaling back in production.
- The company’s cash position, while improved, remains relatively low at $4.0 million as of June 30, 2024, which could limit future operational flexibility.
- Despite promising developments, the company faces challenges in treating refractory relapse AML patients, a population with suboptimal current treatment options.
- The Phase I/Ib clinical trial of BP1001-A is still in early stages, with data readouts expected later, indicating that it may take time before any potential market entry.
Q & A Highlights
Q: Can you provide an update on the progress of the prexigebersen clinical trials?
A: Peter Nielsen, CEO, explained that Bio-Path Holdings presented interim results from their Phase 2 study of prexigebersen at the ASCO and EHA meetings. The study involves prexigebersen in combination with decitabine and venetoclax for treating AML. The interim data showed promising efficacy signals, particularly in high-risk and refractory relapsed AML patients.
Q: What are the recent developments regarding BP1002?
A: Peter Nielsen, CEO, mentioned that the second dose cohort for the Phase I/Ib clinical trial of BP1002 has been completed. BP1002 targets the Bcl-2 protein and is being tested for relapsed AML, including venetoclax-resistant patients. The trial is progressing with no dose-limiting toxicities reported so far.
Q: How is Bio-Path Holdings advancing its BP1001-A program?
A: Peter Nielsen, CEO, stated that the Phase I/Ib clinical trial of BP1001-A is ongoing, targeting solid tumors such as ovarian, endometrial, pancreatic, and triple-negative breast cancer. The trial aims to evaluate the safety of BP1001-A, which is a modified version of prexigebersen with enhanced nanoparticle properties.
Q: Could you elaborate on the financial performance for the second quarter of 2024?
A: Anthony Price, SVP of Finance, reported a net loss of $1.9 million for the quarter, a decrease from the $4.2 million loss in the same period last year. The reduction in loss was attributed to decreased manufacturing expenses and increased patient enrollment in clinical trials.
Q: What is the status of the BP1003 program targeting the STAT3 protein?
A: Peter Nielsen, CEO, highlighted that BP1003 is being developed to target the STAT3 protein, which is involved in various cancers. The company has identified a method for oligo detection in plasma, which will enable final safety testing and the submission of an IND application to the FDA.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
