Half Year 2024 Brii Biosciences Ltd Earnings Call Transcript
Key Points
- Brii Biosciences Ltd (BRIBF) has a clear mission to develop a functional cure for hepatitis B, addressing a significant global health burden.
- The company has a robust portfolio of HBV candidates, including siRNA, monoclonal antibody, and therapeutic vaccine, all of which have been granted Breakthrough Therapy Designation by the China NMPA.
- Recent data from clinical trials show promising results, including a 57% improvement in overall HB surface antigen loss rate with BRII-179 plus PEG interferon alfa.
- The company has a strong cash position, sufficient to support R&D and operations through the end of 2027.
- Brii Biosciences Ltd (BRIBF) is actively seeking partners to further develop non-HBV programs, indicating a strategic approach to resource allocation.
- The exact mechanism for achieving a functional cure for HBV remains unknown, posing a challenge for the company's research efforts.
- There is a significant decrease in other income, primarily due to reduced government grants, which could impact financial stability.
- Research and development expenses have decreased significantly, which may indicate potential delays or scaling back of certain projects.
- Administrative expenses have also decreased, primarily due to workforce reduction in non-core areas, which could affect operational efficiency.
- The company is still in the early stages of discovery efforts for new areas, with no expected outcomes in the next two years, potentially delaying future growth opportunities.
Good day, everyone, and thank you for standing by. Please note that today's call is being recorded. This is Sarah Qiu, Associate Director of Investor Relations. Welcome to Brii Bio interim 2024 earnings conference call.
Before we start, I would like to remind everyone that today's discussion may contain forward looking statements. Actual results and outcomes may differ materially from those discussed today. These statements reflect our views only as of today and should not be relied upon as of any subsequent date. We disclaim any obligation to update such statements.
Joining us today from Brii Bio's executive management team are Dr. David Margolis, Chief Medical Officer; and Dr. Ankang Li, Chief Strategy and Financial Officer.
Dr. Li will begin with an overview of our strategic priorities and corporate updates. Then Dr. Margolis will review our clinical programs, followed by Dr. Li, who will review our financial status. We will then open the call for questions.
Now, over to our CSO and CFO, Dr. Li. Dr. Li, please go ahead.
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