NovaBridge Biosciences Q2 FY2020 earnings call

Pipeline Development - Lemzoparlimab (TJC4): Completed Phase 1 dose escalation clinical trial in US, validated safety and PK profile; ongoing Phase 1/2 studies in US and China. - TJD5 (anti-CD73 antibody): Phase 1 dose escalating clinical trial in US, parallel trials in China; expected safety and PK/PD results in Q4 2020. - TJM2 (anti-GM-CSF antibody): Evaluated for COVID-19 cytokine release syndrome; Phase 2 study ongoing in US, initiated Phase 1b study in China for rheumatoid arthritis. - TJ202 (anti-CD38 antibody): Two parallel registrational studies in China for multiple myeloma, on track for patient recruitment in 2020, expected BLA filing in mid-2021 to Q3 2021. - Early stage pipeline: TJ210, TJ-CD4B, etc., advancing towards clinical development. ### Corporate Development - Appointed Ivan Yifei Zhu as Chief Commercial Officer; focus on building commercialization infrastructure. - Opened Hong Kong office in May 2020; plan to build R&D center in San Diego starting late 2020 for translational medicine, etc.

For the six months ended June 30, 2020, net revenues were nil compared to RMB 15 million for the same period in 2019. R&D expenses were RMB 442.3 million (US$62.6 million) vs. RMB 265.1 million in 2019. Administrative expenses were RMB 171.4 million (US$24.3 million) vs. RMB 574.6 million in 2019. Net loss was RMB 582.9 million (US$82.5 million) vs. RMB 857.3 million in 2019. Non-GAAP net loss (excluding share based compensation) was RMB 353.1 million (approx. $50 million) vs. RMB 491 million in 2019.

Forward-Looking Statements - Expect IND submissions for early stage pipeline assets like TJ210. - Plan to initiate Phase 2 clinical trial for TJ107 in glioblastoma patients with lymphopenia. - Expect to obtain IND approval for TJ101's registrational trial. - Progress ongoing Phase 2 clinical trial for TJ301 in ulcerative colitis towards completion.

Risks - Clinical trial risks: Uncertainties in clinical trial outcomes, safety profiles, and regulatory approvals. - Market competition: Competition from other biotech companies in immuno-oncology and related areas. - Regulatory risks: Changes in regulatory requirements that could impact clinical development and approval timelines.

Q: About CD47 antibody (lemzoparlimab), future R&D plans on bi-specific products?

A: Two CD47 related bi-specific programs (CD47 GM-CSF, CD47 PD-L1) at CMC preclinical stage, expect IND filing next year.

Q: Regarding TJM2 Phase 2 study for Cytokine Release Syndrome, potential FDA attitude?

A: Successfully advanced from Phase 1 to Phase 2, communicating with FDA to finalize endpoint and population for potential registrational trial.

Q: How healthcare reforms create opportunity for China biotechs?

A: Regulatory reforms, funding growth, talent return, and reimbursement efforts support Chinese biotechs.

Q: Where TJD5 fits in treatment paradigm if approved?

A: Works synergistically with PD-1/PD-L1 therapies to create favorable tumor microenvironment, positioned to combine with them to increase response rate.

Q: Competition in CD47 market, TTI-621 toxicity cause?

A: TJC4 is highly differentiated, rapidly advancing clinical development; TTI-621's thrombocytopenia due to ITT function of the molecule.

Q: Commercialization plan, sales team headcount?

A: Aim to form core immuno-oncology sales team of 150-200 people, focusing on hematological malignancies.

Q: TJM2 as substitute for steroids in COVID-19 treatment?

A: GM-CSF targets cytokine release associated with COVID-19 without compromising immune system like steroids do.