Earning Date, Transcript Summary & Report

Positive Point: Chemomab Therapeutics reported encouraging top-line results from the CM-101 Phase 2 liver fibrosis trial in patients with NASH, demonstrating improvements across multiple disease-related fibrotic and inflammatory biomarkers.

-Data presented in the call showed that CM-101 appeared safe and exhibited positive impact on various fibrotic and inflammatory biomarkers in patients with NASH.

Positive Point: The results of the CM-101 Phase 2 liver fibrosis trial in NASH are consistent with earlier clinical trials, indicating the potential therapeutic benefits of CM-101 in treating fibro-inflammatory diseases.

-Data highlighted in the call showed that CM-101 demonstrated encouraging biomarker changes in previous clinical trials, supporting its potential as a treatment for fibro-inflammatory diseases beyond NASH.

Positive Point: Chemomab is making progress in advancing its CM-101 Phase 2 clinical program in PSC and has received clearance from the independent drug monitoring committee to add a higher dose cohort to the trial.

-The company is actively enrolling patients in the higher dose cohort for the PSC trial and remains on track to report top-line data in the second half of the next year, as indicated in the call.

Positive Point: Chemomab's IND for the Phase 2 systemic sclerosis trial was cleared by the FDA, paving the way for the start of the trial that aims to address the unmet medical need in this complex immunological disorder.

-The company is prepared to conduct the trial at sites in the US, Europe, and Israel, with an initial data readout expected in the latter part of 2024, providing hope for patients with systemic sclerosis.

Positive Point: Chemomab has extended its cash runway until the end of the first half of 2024 through financial management and budget trimming, ensuring resources are available to advance clinical programs and achieve data milestones.

-The company's financial performance in the first quarter of 2023 showed prudent management of expenditures while maintaining the necessary resources for ongoing clinical activities, as discussed during the call.

Negative:

• Quarterly R&D expenses increased significantly by approximately $4.1 million or 151% compared to the same quarter in 2022, primarily due to increased clinical and preclinical activities.
• Net loss for the first quarter of 2023 was $8.8 million, representing a net loss of approximately $0.04 per basic and diluted ordinary share, higher than the net loss of $5.1 million in the same quarter of 2022.
• Cash, cash equivalents, and bank deposits decreased to $32.8 million as of March 31, 2023, compared to $40 million on December 31, 2022, indicating a decline in available financial resources.
• General and administrative expenses decreased slightly by approximately $0.4 million or 16% for the three months ended March 31, 2023, as compared to the same period in 2022, signaling a reduction in operational spending.