PBMD

Prima BioMed Ltd (PBMD)

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Prima Biomed Ltd (PBMD)

F4Q 2013 Earnings Conference Call

August 5, 2013 7:00 p.m. ET

Executives

Matthew Lehman – CEO

Sharron Gargosky – Chief Technical Officer

Marc Voigt – Chief Business Officer & CFO

Analysts

[Leo Ernest] – Private Investor

[Cary Billups] – Private Investor

[John Rien] – Private Investor

[David Costello]

Brad Dunn – Ord Minnett

Presentation

(Q&A Only)

Question-and-Answer Session

Operator

Thank you. (Operator Instructions).

Your first question comes from [Leo Ernest], Private Investor. Please go ahead.

[Leo Ernest] – Private Investor

(Inaudible)

Operator

Sorry. Mr. [Ernest], we're having some trouble hearing you. Is it possible you could pick up your handset?

Mr. [Ernest], we're going to move on to the next question. If you're able to move to a different phone, we'll let you back in the queue. Sorry about that.

The next question comes from [Cary Billups], Private Investor. Please go ahead.

[Cary Billups] – Private Investor

Good morning. My question is actually for Sharron Gargosky. With regard to the release of the ICS [tech] results, I'm wondering what you expect it to show in relation to the results that were released last year.

Sharron Gargosky

Hi, [Cary]. Nice to talk with you.

So with the ICS data, what we're looking at now is, you know, last year when we presented data, I had a snapshot that I could share which was a handful five CVac patients and a couple of patients that were standard of care. So we were looking at them. What we didn't have was the longitudinal assessment of a patient across the dosing period. So what we're looking at with the data right now is patients at baseline prior to their treatment and then looking at them during the course of CVac treatment and looking at how their immune profiles respond. You know, where do you get the best peak of response, what are you seeing there during the course of treatment? And that's our primary focus right now.

And then subsequently, the longitudinal piece, the secondary piece of that will be how long is that response able to be maintained or do you see a duration that's detectable and an assay like the ICS. So our first evaluation is looking at patients from baseline through the course of dosing. And we're looking at, as we said, all 63 patients. So we're trying to get really a much bigger data set than just the small snapshot that I had access to at the end of last year.

[Cary Billups] – Private Investor

Thank you very much. May I ask a question if possible of Mr. Lehman with regard to the increased volume trading on the Prima shares on the NASDAQ recently and if there might be some intelligence or reason that he's aware of behind that?

Matthew Lehman

Yeah. Hi, [Cary]. Sure. You know, I don’t know if I -- I mean it may -- I think it's probably just as simple of an answer as, you know, we've been increasing our time here in the US, introducing the company to the investor community. I think it's an interesting, you know, look, it's an interesting story. I do think biotech has been, you know, it's a bit of a hot market in the US right now. So I think that background is also helpful for the story we're telling. And certainly immune therapy, this niche in cancer treatment is also a bit exciting right now. There was ASCO and which was held in Chicago and just about a month or so ago, two months, you know. And immune therapy is really gaining a lot of traction in the scientific community, also now let's say reaching over into the financial community.

So I think that's really what it is, just explaining our story and meeting with people and explaining what we're doing. So I think it's exciting though. It is nice to see that we're really getting the interest in following on let's say both Australia and the US exchanges.

[Cary Billups] – Private Investor

Great. Thank you very much both for your answers.

Matthew Lehman

Yeah.

Sharron Gargosky

Thank you.

Matthew Lehman

Thanks, [Cary].

Operator

The next question comes from [John Rien], Private Investor. Please go ahead.

[John Rien] – Private Investor

Thank you. My question is involving the foreign exchange position. It was mentioned in your report that things are at about 1.4 million, 1.5 million dollars foreign exchange gain. I'm just wondering what the position is with the company and its cash holdings. Is it exposed to the Australian dollar weakening in recent times? And what is the company's foreign exchange hedging policy?

Matthew Lehman

Marc, do you want to --

Marc Voigt

Yeah.

Matthew Lehman

-- more specifically?

Marc Voigt

Yes. So, yeah, thanks very much for the question. First of all, we hold significant positions in euro and in US dollars, which is giving us a nice buffer in terms of the decrease of the Australian dollar which we have been seeing. In the past and also ongoing for the future, we have hedging contracts which are based on our projected ongoing operations which are following we believe a reasonable assumption based on the risks from foreign exchange. However, also moving forward, as mentioned, as we have a substantial amount of euros and US dollars on bank, we are in a comparably good position given that for most the clinical operations run in Europe and the United States.

Matthew Lehman

Okay. Thank you.

Operator

Thank you. The next question comes from [Diane] and [David Costello] with (inaudible). Please go ahead.

Read the rest of this transcript for free on seekingalpha.com