Alaunos Therapeutics, Inc. Q3 FY2022 earnings call

• Clinical Progress: Achieved first in-human confirmed partial response in TCR-T Library Phase 1/2 trial; anticipate treating next patient by end of 2022; working closely with investigators at MD Anderson to enroll additional patients. - Manufacturing: Updated standard operating procedures, hired additional personnel, and doubled manufacturing capacity; plan to file IND amendment to move to cryopreserved product by end of 2022, reducing manufacturing time to 26 days. - R&D: HunTR platform discovered neoantigen-reactive TCRs; plans to expand mutations and HLAs in the library; prescreened over 250 solid tumor samples for hotspot mutations.

For the third quarter of 2022, collaboration revenue was approximately $2.9 million, compared to approximately $0.4 million in the third quarter of 2021. Research and development expenses were approximately $7.9 million, a decrease of 46% from the third quarter of 2021. General and administrative expenses were approximately $3.3 million, a decrease of 60% from the same period in 2021. As of September 30, 2022, Alaunos had approximately $37.8 million in cash and cash equivalents and $13.9 million of restricted cash. Operating cash burn for the third quarter of 2022 was approximately $6.1 million, a decrease of approximately $3.4 million or 36% from the third quarter of 2021.

• Anticipate dosing the next patient in the fourth quarter of 2022. - Plan to file IND amendment in the fourth quarter to add two new TCRs and move to cryopreserved product, effective in the first half of 2023. - Advance membrane-bound IL-15 program towards IND filing in the second half of 2023.

Q: About why it took six months to dose the next patient, bottlenecks, and dose of the third patient A: Kevin Boyle discussed excitement from CICON data, enrollment interest, and cryopreservation improving flexibility for patient scheduling Q: About exhaustion signals in patient one and changes in cryopreserved product A: Drew Deniger talked about looking at exhaustion markers, Abhi Srivastava mentioned manufacturing platform is robust and cryopreservation just adds a formulation Q: About the next patient's dose level and added TCRs A: Kevin Boyle said the third patient will be at dose Level 2, Drew Deniger discussed adding new TCRs in the IND amendment Q: About purity/viability of cryopreserved TCR-T cells and the next patient's tumor type A: Abhi Srivastava said no differences in purity/viability, and not disclosing the next patient's tumor type yet but will present data in 2023