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AIM ImmunoTech Inc. (AIM)

Q4 2024 Earnings Call· Tue, Apr 1, 2025

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Transcript

Operator

Operator

Hello and welcome to the AIM ImmunoTech Fourth Quarter and Full Year 2024 Update Conference Call and Webcast. As a brief reminder, all participants are currently in a listen-only mode. [Operator Instructions] Following the presentation, there will be a question-and-answer session. Note that this webcast is being recorded at the company's request and a replay will be made available on the company's website following the end of the event. At this time, I'd like to remind our listeners that remarks made during the webcast may state management's intentions, beliefs, expectations, or future projections. These are forward-looking statements that involve risks and uncertainties. Forward-looking statements on this call are made pursuant to the Safe Harbor provisions of the federal securities laws and are based on AIM ImmunoTech's current expectations and actual results could differ materially. As a result, you should not place undue reliance on any forward-looking statements. Some of the factors that could cause actual results to differ materially from these contemplated by such forward-looking statements are discussed in the periodic reports AIM ImmunoTech files with the Securities and Exchange Commission. These documents are available in the Investors section of the company's website and on the Securities and Exchange Commission's website. We encourage you to review these documents carefully. Additionally, certain information contained in this webcast relates to or is based on studies, publications, surveys and other data obtained from third-party sources and the company's own estimates and research. While the company believes these third-party sources to be reliable as of the date of this presentation, it has not independently verified and makes no representation as to the adequacy, fairness, accuracy, or completeness of, or that any independent source has verified any information obtained from third-party sources. Joining us on today's call from the AIM ImmunoTech leadership team is Thomas Equels, Chief Executive Officer. I'd like to now turn the call over to Mr. Equels. Please proceed.

Thomas Equels

Analyst

Thank you, operator. I'd like to thank everyone for joining us this morning. I've been looking forward to this call because the progress we've made in the last several months underscores our commitment to advancing Ampligen across multiple areas of significant medical need. We're continuing to build meaningful momentum, both clinically and strategically, and I'm excited to walk through some of the recent highlights. To start, we recently announced plans to conduct a new clinical study evaluating Ampligen in combination with AstraZeneca's intranasal influenza vaccine, FluMist. This study will explore this combination as a potential intranasal vaccine for influenza, including avian flu. We're honored that Dr. Paul Goepfert of the University of Alabama-Birmingham Medical Center will serve as principal investigator for this important study. From a corporate standpoint, we further strengthened our leadership with the addition of two Board members, Ted Kellner, who has 50 years of investment experience and was previously a Portfolio Manager at Fiduciary Management; and David Chemerow, who brings more than 40 years of finance, accounting and operations leadership across multiple industries. Their experience and guidance will be instrumental as we move forward to execute on our strategy. On the clinical front, we're pleased to report that the Erasmus Medical Center Safety Committee has approved the continuation into the Phase 2 portion of the DURIPANC pancreatic cancer trial. This is the ongoing Phase 1b/2 study evaluating Ampligen in combination with AstraZeneca's drug, Imfinzi, an anti-PD-L1 checkpoint inhibitor for the treatment of late-stage metastatic pancreatic cancer. Dosing has commenced for the Phase 2 portion of the trial, which is a key step forward in this critical program. We also announced final clinical results from our AMP-518 study evaluating Ampligen in the treatment of patients with post-COVID conditions. This data represents a culmination of our efforts in this…

Operator

Operator

Thank you. We will now be conducting a question-and-answer session. [Operator Instructions] Our first question is coming from the line of Ed Woo with Ascendiant Capital Markets. Please proceed with your questions.

Ed Woo

Analyst

Yes. Congratulations on all the progress. My question is on your current inventory of Ampligen. Do you have adequate supply for all your clinical trials this year? And how easy would it be for you to get new supply?

Thomas Equels

Analyst

Well, thank you, Dr. Woo. We have Ampligen budget that's tied to our ongoing clinical activity so that we make an effort and certainly our collaborators, especially the research institutes that we work with, consider it very important that we budget sufficient Ampligen for the trials that are ongoing. So I believe, absent some unanticipated or extraneous event, that there should be no problem supplying Ampligen for the ongoing clinical trials. For future clinical trials, we will have to manufacture more Ampligen, and that requires capital, but the process for manufacturing additional Ampligen is being analyzed and the work that we're doing with polymer manufacturers and other vendors that are essential to the manufacturing process is a part of our constant operational activity. So we don't anticipate a problem of running out of Ampligen absent some unforeseen circumstance.

Ed Woo

Analyst

Great. Well, thank you for answering my questions, and I wish you guys good luck. Thank you.

Thomas Equels

Analyst

Thank you very much.

Operator

Operator

Thank you. We have reached the end of our question-and-answer session. And with that, that does bring this call to a close. We appreciate your participation today. You may now disconnect.