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| Statement |
|---|
| With these efforts and our extended cash runway, we believe 2seventy is strongly positioned to see ABECMA return to growth this year and deliver for patients in need |
| We're pleased to see regulators across other geographies respond positively with third-line plus approvals in Japan, Switzerland as well as a positive CHMP opinion in the EU, which gives us confidence in a potential approval here in the US |
| So this is very, very encouraging to see the real-world evidence data seem to be very beneficial for ABECMA with regards to efficacy, but also with regards to safety |
| So I do think we are very pleased to see how the body of evidence -- real world is showing positive results |
| With key milestones coming in the near term, close of the APA with Regeneron, ODAC, and soon thereafter, we feel we are well positioned to emerge from the first quarter in a much stronger position |
| From commercial perspective, the approval in the third-line-plus setting is a key catalyst for ABECMA returning to return to growth |
| I'm pleased to share that we've made good progress on the agreement and continue to believe we are on track to close within the first half of the year |
| We anticipate collaborative arrangement revenue to grow meaningfully as we see ABECMA return to commercial growth |
| And also there, ABECMA looks very, very good compared to the other profiles with regards to non-relapse mortality or infections or delayed neurotoxicities, et cetera |
| We look forward to educating the communities together with BMS on these data, and we remain excited about the potential for ABECMA to transform the lives of patients living with myeloma |
| And again, as we expand from the current label to this expanded third-line plus setting, the market opportunity is significant |
| And with that, I wish everyone a great day |
| But I think the main one is going to be our ability to describe and articulate both the safety profile and the efficacy -- competitive efficacy profile of ABECMA in the third-line plus setting |
| And as we said, we like the benefit risk profile of ABECMA, we like the safety and efficacy profile |
| These efforts are in addition to other ongoing efforts to expand site footprint and competitively differentiate ABECMA's safety and efficacy profile with real world data |
| With the changes to the cost structure resulting from restructuring measures and following the close of the asset purchase agreement with Regeneron, we expect annual savings of approximately $150 million in 2024 and approximately $200 million in 2025, inclusive of the one-time cash restructuring costs of approximately $8 million to $10 million |
| [Indiscernible] evidence data is wonderful to see that the wealth of data is increasing with ABECMA being available now for a while commercially |
| But as we've increased the footprint that's going to make ABECMA available for more and more patients and we have plans to continue to expand that footprint over time, so that's an important commercial driver |
| We believe these data support the case to prove ABECMA in this triple-class exposed patient population |
| This is a huge market |
| Before we close, I'd like to thank the team at 2seventy for continuing to navigate these challenging waters and not losing sight of the mission and the clear task at hand |
| Differences emerge and our understanding of what's the best product to offer for this patient population has evolved |
| Chip? Chip Baird Thank you, Liz, and thank you all for joining us |
| From a site footprint perspective, as we've described before, we continue to increase the number of sites where documents available for patients and a large market like the US, that's really important for patients, particularly later-line patients for whom extended travel is difficult |
| Thank you for joining us |
| And we think that's going to play out over a very long time |
| Chip Baird Thank you |
| Thank you |
| With that, we're happy to take your questions |
| Kelsey Goodwin Hey, good morning |
| Statement |
|---|
| The decline in fourth-quarter sales was due to ongoing competition from other BCMA targeted therapies |
| It will be difficult for anyone manufacturer to meet that demand |
| We anticipate the commercial performance for the first part of 2024 will continue to be impacted by competitive dynamics until the potential expansion of the label to the third-line plus setting, which will increase the addressable patient population |
| and future financial results among others |
| I think the history of myeloma has always been never a winner-take-all scenario |
| It is also important to note that experience is growing as well in the field, which also has an impact onto you |
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