CytomX Therapeutics, Inc. (CTMX) Q1 2019 Earnings Call Transcript

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CytomX Therapeutics, Inc. (NASDAQ:CTMX) Q1 2019 Earnings Call May 9, 2019, 5:00 p.m. ET

Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks:


Good day, ladies and gentlemen and welcome to the CytomX Therapeutics first quarter 2019 financials conference call. At this time, all participants are in a listen-only mode. Later, we will conduct a question and answer session and instructions will follow at that time. If anyone should require operator assistance, please press * then 0 on your touch-tone telephone. As a reminder, this call may be recorded.

I would not like to introduce your host for today's conference, Mr. Christopher Keenan, Vice President of Investor Relations. Chris, you may begin.

Christopher Keenan -- Vice President of Investor Relations and Corporate Communications

Thank you, Liz. Good afternoon. Joining me today are CytomX President, Chief Executive Officer, and Chairman Dr. Sean McCarthy and CytomX Vice President of Finance Robin Knifsend.

Before we begin, I would like to remind you that we will be making forward-looking statements during the call. Because forward-looking statements relate to the future, they are subject to inherent uncertainties and risks that are difficult to predict and many of which are outside of our control.

Important risks and uncertainties are set forth in our most recent public filings with the SEC at, including our Form 10-Q filed today. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future developments, or otherwise. A webcast of this call will be available on the investor relations page of CytomX website at

I would now like to turn the call over to Sean.

Sean McCarthy -- President, Chief Executive Officer, and Chairman

Thanks, Chris and good afternoon, everyone. I am very pleased to be here with you today to briefly review another very productive quarter for CytomX.

At CytomX, we are reinventing therapeutic antibodies for the treatment of cancer. We see a major opportunity to more effectively target therapeutic antibodies into disease tissue, generating new classes of differentiated anti-cancer therapies as either best-in-class molecules against validated targets or first-in-class molecules against novel targets that we believe our technology can uniquely address.

Our innovative approach through antibody localization into disease tissue is called the Probody platform. Probody is our fully recombinant antibody prodrugs comprised of a therapeutic antibody, a linker, and a mask designed in a way that the antibody can't see its target until the mask is removed. Mask removal occurs specifically and selectively within cancer tissue as a function of disease associated proteases which clip off the mask in the tumor, allowing the underlying antibody to bind target and elicit its biological effect.

Probody therapeutics are designed to offer localized target binding in disease tissue while maintaining potency, reducing side effects, and enabling new targets and mechanisms to be translated into novel product opportunities. We see this as a really big idea backed by decades of research by our deep knowledge of the tumor microenvironment, innovative protein engineering, and a robust intellectual property portfolio. We are the leader in this emerging field of