Lisata Therapeutics (LSTA) Q2 Earnings call transcript Aug 12, 2024

Lisata Therapeutics held its second quarter 2024 financial results and business update conference call, highlighting the company's progress and achievements in advancing its novel investigational product, Certepetide, for the treatment of advanced solid tumors. The call, led by Dr. David Mazzo, President and CEO, showcased the company's financial results and provided an update on the progress of its clinical development programs.

Financial Highlights

The company reported a decrease in operating expenses, driven by lower research and development expenses due to the completion of the Phase 2b ASCEND trial. General and administrative expenses also decreased due to one-off related severance costs and a reduction in equity expense. Despite these reductions, Lisata maintained a focus on its research and development activities, with a strong balance sheet and projected capital to fund its operations into early 2026.

Clinical Development Programs

Lisata's development programs revolve around Certepetide, a novel investigational product designed to address the major impediments to successful treatment of advanced solid tumors. The product's mechanism of action leverages the naturally occurring CendR active transport system to provide selective delivery of anticancer drugs through tumor stroma and into tumors. Additionally, Certepetide has been shown to modify the tumor microenvironment, increasing tumor susceptibility to immunotherapy and inhibiting the metastatic cascade.

Several clinical trials are underway to evaluate Certepetide's efficacy and safety profile in combination with standard of care chemotherapy for various solid tumors. These include the ASCEND trial, a Phase 2b study in metastatic pancreatic ductal adenocarcinoma, and the BOLSTER trial, a Phase 2a study in first-line cholangiocarcinoma. The company also announced the addition of a second cohort in the BOLSTER trial to evaluate Certepetide in second-line cholangiocarcinoma, underscoring the high demand and need for this treatment.

Investor Interactions

During the Q&A session, investors showed keen interest in the progress of the clinical trials, with specific focus on the ASCEND and BOLSTER trials. Clinicians reported a high level of enthusiasm for the product, with some expressing optimism about the potential for Certepetide to make a meaningful impact in first-line cholangiocarcinoma treatment. This positive feedback led to the decision to add a second cohort in the BOLSTER trial for second-line cholangiocarcinoma patients.

Looking Ahead

Lisata remains optimistic about the potential of Certepetide to transform the lives of patients with cancer, particularly in the treatment of pancreatic cancer. The upcoming ASCEND data readout is expected to provide critical insights into the efficacy and safety profile of Certepetide in combination with standard of care chemotherapy for metastatic pancreatic ductal adenocarcinoma. The company also plans to explore strategic partnerships to maximize the value of Certepetide across multiple tumor types.

In conclusion, Lisata Therapeutics' second quarter 2024 financial results and business update underscored the company's continued progress in advancing its investigational product, Certepetide, for the treatment of advanced solid tumors. With several ongoing clinical trials and a robust intellectual property portfolio, Lisata is well-positioned to make a significant impact in the cancer treatment landscape.