Oncternal Therapeutics (ONCT) 8 Aug 24 2024 Q2 Earnings call transcript

In the latest earnings call, Oncternal Therapeutics showcased a strong focus on advancing its clinical programs, demonstrating a clear commitment to addressing unmet medical needs in the field of cancer treatment. The company highlighted the progress of its first-in-class clinical programs, ONCT-534 and ONCT-808, which have exhibited promising results so far.

ONCT-534: A Novel Dual Action Androgen Receptor Inhibitor

Oncternal Therapeutics' lead product, ONCT-534, is a novel dual action androgen receptor inhibitor (DAARI) that targets androgen receptor cells through both the ligand binding domain and the end terminal domain. This unique mechanism is expected to address key prostate cancer mechanisms that are not addressed by currently approved AR pathway inhibitors. The clinical trial for ONCT-534 is progressing well with no dose-limiting toxicities or other concerning side effects observed to date. The company plans to share initial clinical data later in the third quarter of 2024, which will provide further insights into the safety and efficacy of this promising drug candidate.

ONCT-808: A Promising Autologous ROR1 Targeting CAR-T Product

The Phase I/II study for Oncternal Therapeutics' autologous ROR1 targeting CAR-T product, ONCT-808, is also moving forward. This innovative therapy is designed to treat relapsed or refractory aggressive B-cell lymphoma, including patients who have failed previous CD19 CAR-T treatment. The trial is enrolling patients under a revised dosing regimen, which has shown to be very active, with no dose-limiting toxicities observed. The company anticipates reporting updated clinical results, including data from patients treated with the new dosing schedule, in the fourth quarter of 2024.

Financial Highlights and Future Milestones

Oncternal Therapeutics reported a net loss of $2.89 per share for the second quarter ended June 30, 2024. The company's revenue is currently derived from research and development grants received from the NIH. The financials also indicated a cash runway into the first quarter of 2025, which is a positive sign for the company's future prospects. Key upcoming milestones include the presentation of initial clinical data for ONCT-534 in the third quarter of 2024 and a clinical data update for ONCT-808 in the fourth quarter of 2024.

Investor Questions and Management's Responses

During the Q&A session, investors expressed interest in the timing and content of the clinical data updates for ONCT-534 and ONCT-808. The management team provided valuable insights into the upcoming data releases, highlighting the safety and efficacy data that will be presented. They also addressed concerns about potential dose escalation and practical limits for administration, emphasizing a data-driven approach to decision-making.

A Look Ahead

Oncternal Therapeutics' second quarter 2024 financial results call underscored the company's commitment to advancing its clinical programs and addressing unmet medical needs in the field of cancer treatment. With promising results from ONCT-534 and ONCT-808, investors and analysts are eagerly anticipating the upcoming clinical data updates. As the company continues to make strides in its research and development efforts, it remains well-positioned to contribute to the advancement of cancer treatment and potentially bring new therapeutic options to patients in need.