Half Year 2024 Vivoryon Therapeutics NV Earnings Call Transcript
Key Points
- Vivoryon Therapeutics NV (FRA:05Y) reported compelling kidney function data from the VIVIAD Phase IIb study, showing a strong and consistent statistically significant improvement in kidney function with varoglutamstat.
- The company has successfully transitioned its strategy towards developing varoglutamstat in kidney disease, leveraging rigorous scientific research and intentional clinical study design.
- Vivoryon Therapeutics NV (FRA:05Y) observed a substantially higher treatment effect on eGFR with varoglutamstat in a post-op diabetes subgroup, indicating potential for targeted therapeutic applications.
- The company has advanced plans to initiate a Phase II study in advanced diabetic kidney disease, subject to additional funding or partnerships, demonstrating a clear path forward for clinical development.
- Vivoryon Therapeutics NV (FRA:05Y) has a strong scientific foundation and new PK/PD data that provide key information on the mechanism of action, demonstrating varoglutamstat as a robust molecule with potential in kidney disease.
- The VIVIAD results in early Alzheimer's disease (AD) were disappointing, highlighting a significant setback in this therapeutic area.
- The company reported a net loss of EUR 13.6 million for the first half of 2024, compared to EUR 10.7 million in the first half of 2023, indicating increased financial strain.
- Vivoryon Therapeutics NV (FRA:05Y) held EUR 15.3 million in cash and cash equivalents as of June 30, 2024, down from EUR 28.6 million as of December 31, 2023, reflecting substantial cash utilization.
- The company acknowledged that further funding or partnerships would be required to support a Phase II study in diabetic kidney disease and to extend its cash runway beyond the second quarter of 2025.
- The analysis of the VIVA-MIND study is still pending, and the company does not expect different outcomes in Alzheimer's disease compared to the VIVIAD study, potentially limiting future opportunities in AD.
Good day, and thank you for standing by. Welcome to the Vivoryon Therapeutics 2024 Half Year Results Conference Call and Webcast. [Operator Instructions] Please be advised that today's conference is being recorded.
I would now like to turn the conference over to your speaker, Anne Doering. Please go ahead.
Thank you, Ralph. Good afternoon, and thank you for joining us today to discuss the company's first half 2024 results and operational updates. This morning, Vivoryon issued a press release reporting its first half 2024 financial results and also provided an update on our progress, which was marked by compelling kidney function data as well as execution of important steps in implementing our strategy to advance varoglutamstat in kidney disease. This press release is posted on Vivoryon's website at www.vivoryon.com.
On the call with me today are Vivoryon's Chief Executive Officer, Frank
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