Chemomab Therapeutics (CMMB) Oppenheimer 36th Annual Healthcare Life Sciences Conference summary

Strategic program updates

• Nebokitug, a monoclonal antibody targeting CCL24, is positioned as a phase III-ready program for primary sclerosing cholangitis (PSC) and phase II-ready for systemic sclerosis (SSc), both rare diseases with high unmet need.

• Orphan Drug Designation has been granted by both EMA and FDA for nebokitug in PSC, supporting its regulatory pathway.

• The company is actively seeking a partner with financial commitment and commercialization expertise to support the phase III trial and future launches.

• Current cash reserves of $20.8 million are expected to fund operations and phase III preparations through the end of 2026.

Clinical trial results and plans

• Phase II trial in PSC met primary (safety/tolerability) and secondary (biomarker improvement) endpoints, with the 20 mg/kg dose selected for phase III.

• Patients with moderate to advanced PSC showed the most significant improvements in liver stiffness, ELF score, and other fibrotic/inflammatory markers.

• After 48 weeks, nebokitug-treated patients had an 80% reduction in clinical events compared to historical controls.

• Phase III will focus on clinical events as the primary endpoint, with an interim analysis planned for potential early BLA submission.

• Approximately 50% of PSC patients have moderate to advanced disease, the main target for phase III enrichment.

Market opportunity and competitive landscape

• PSC market estimated at over $1 billion in annual revenue, with nebokitug positioned as the only late-stage disease-modifying therapy targeting both inflammation and fibrosis.

• SSc market opportunity exceeds $1.5 billion, with nebokitug showing preclinical and translational data supporting its use in both skin and lung manifestations.

• Interest from partners is highest for the phase III PSC program due to its advanced stage and clear path to registration, but broader opportunities in SSc and other fibrotic diseases are also being explored.