Welcome to the Alpine Immune Sciences fourth quarter 2022 earnings call. Currently, all participants are in listen-only mode. As a reminder, this event is being recorded. I would now like to introduce Temre Johnson, Senior Director of Investor Relations and Corporate Communications at Alpine. Ms. Johnson, I'll now turn the call over to you. Thank you, Carrie. Good afternoon, thank you for joining us. With me on the call today are Dr. Mitchell Gold, Executive Chairman and Chief Executive Officer, Dr. Stanford Peng, President and Head of Research and Development, and Paul Rickey, Chief Financial Officer. Before I turn the call over to Mitch, I would like to remind you that we'll be making forward-looking statements during today's call. These forward-looking statements are based on our current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events, potential publications of clinical data, and expectations regarding the sufficiency of cash and investments could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties. You may refer to the most recent SEC filings regarding the risk factors associated with these statements. Mitch, please go ahead. Thank you, Temre. Alpine is off to a strong start in 2023, driven by progress in the development of povetacicept, a potentially best-in-class dual inhibitor of the BAFF and APRIL cytokines with a convenient once every four week subcutaneous dosing regimen that we believe has the potential to benefit patients living with multiple types of autoimmune or inflammatory diseases. I'm pleased to announce that we recently achieved a significant milestone for povetacicept with the initiation of the RUBY-3 basket study. Our first patient-based study for the program, which will study povetacicept in autoimmune glomerulonephritis indications, including IgA nephropathy, lupus nephritis, and primary membranous nephropathy. Still early in development, investigator enthusiasm for the program and interest in participating in the RUBY-3 study is highly encouraging. In addition to RUBY-3, we are planning to initiate the RUBY-4 basket study in autoimmune cytopenias in the second quarter of 2023. This includes the autoimmune thrombocytopenia, warm autoimmune hemolytic anemia, and cold agglutinin disease. We expect to share initial data from both the RUBY-3 and RUBY-4 basket studies by the end of this year. We see broad development potential for povetacicept in multiple indications beyond the basket studies, including our RUBY-2 study in systemic lupus erythematosus, as well as neurologic, dermatologic, and other rheumatic disease indications. We recently signed a collaboration with Truveta to help accelerate the broad development of povetacicept across these multiple indications. With an increasingly competitive and sometimes challenging clinical trial environment, Truveta gives us access to its 28 partner members who provide 16% of patient care in the United States. In addition to our own efforts, we will leverage Truveta's platform and analytics capabilities to more quickly identify and recruit study participants for RUBY-3 and RUBY-4 who have the potential to benefit most from povetacicept. We believe povetacicept has the potential to be a pipeline and a product. With our strong balance sheet and promising preclinical and phase I healthy volunteer data, we are rapidly moving forward with a robust development plan for povetacicept. I'll now hand the call over to Stanford to review our progress, provide updates on our broad development plans for pove in more detail. Stanford. Thank you, Mitch. As a reminder, povetacicept is an Fc fusion of a variant TACI domain engineered to inhibit more potently the APRIL and BAFF cytokine than wild type TACI-Fc fusion proteins. The clinical relevance of these cytokines continues to grow in multiple autoimmune diseases with proof of concept and/or encouraging clinical data with various diseases in this class in diseases such as systemic lupus nephritis, IgA nephropathy, Sjögren's syndrome, and myasthenia gravis. In preclinical studies, povetacicept appears superior to wild type TACI-Fc comparators as well as inhibitors of only APRIL or BAFF and demonstrates potent activity in multiple disease-relevant animal models. In a phase I first-in-human study in adult healthy volunteers, povetacicept has been well-tolerated. It has demonstrated excellent PK and PD, including dose-related reductions in circulating antibody-secreting cells and serum immunoglobulins, as well as the IgA nephropathy relevant biomarker galactose-deficient IgA1. To gain initial multi-dose experience in disease populations, we are initially focusing on two basket studies. The first is RUBY-3, an open-label basket study in autoimmune glomerulonephritis. This study has just recently begun enrollment. Second to shortly follow is RUBY-4, an open-label basket study in autoimmune cytopenias. With the initial data from these studies, we anticipate the ability next year to begin multiple phase II studies, including one in systemic lupus erythematosus known as RUBY-2. Additional studies in other disease areas are of great interest, including nephrology or hematology, neurology, dermatology, as well as rheumatology besides lupus. Some of these, we envision, could proceed via an accelerated approval pathway. In summary, povetacicept potently targets both the APRIL and BAFF cytokines in a unique, highly differentiated way. It has just begun patient-based studies and has broad development potential. We look forward to sharing additional data as the program progresses. I'll now turn the call over to Paul. Thank you, Stanford. I will now provide an overview of our financials for the fourth quarter ended December 31st, 2022. Revenue recognized under our collaboration programs for the quarter ended December 31st, 2022 was $2.8 million compared to $4.5 million in 2021. The decrease primarily relates to lower revenue recognized under our collaboration with AbbVie, partially offset by revenue recognized for services performed in connection with our collaboration with Verizon, which was executed in late 2021. Research and development expenses for the fourth quarter ended December 31st, 2022 were $18.8 million compared to $15.4 million in 2021. The increase was primarily attributable to higher personnel-related expenses due to increased headcount to support our ongoing and planned clinical development programs. General and administrative expenses for the fourth quarter ended December 31st, 2022, were $4.4 million compared to $4.5 million for 2021. Company recorded net losses of $18.9 million and $15.2 million for the fourth quarter ended 2022 and 2021, respectively. As of December 31st, 2022, Alpine's cash and investments totaled $273.4 million, which we anticipate should be sufficient to fund our planned operations through 2025. I'll now hand the call back to Mitch. Thanks, Stanford. As Stanford highlighted, we are highly encouraged by the progress of povetacicept, a molecule that we believe is the only truly potent dual Apaf-1 inhibitor. As a result, we believe in the broad potential for the program may become an important new disease-modifying therapy across multiple B-cell mediated autoimmune and inflammatory diseases. In closing, we believe we have laid a strong foundation going to the next phase of Alpine as we progress throughout the course of this year and into next year. Operator, we'll now open the phone to questions. Thank you. If you would like to ask a question, please signal by pressing star one on your telephone keypad. If you are using a speakerphone, please make sure your mute function is turned off to allow your signal to reach our equipment. Again, press star one to ask a question. We'll take our first question from the line of Mike Ulz from Morgan Stanley. Please go ahead. Hey, guys. Thanks for taking the question and congrats on getting the RUBY-3 study going here. Maybe just a question in terms of the both basket studies, and maybe you can comment on how you're currently thinking about dosing, and if there's any additional dosing work you plan to do before getting into the indication-specific cohorts in the basket studies. I guess part of why I'm asking, I looked on ClinicalTrials.gov and I noticed some differences in the, in the dosing that you're using for RUBY-3 and RUBY-4. Thanks. Yeah. Maybe I'll take the first part of that, Mike. Thanks for the question, then I'll ask Stanford to dive down into it if you want to. Just as a reminder, RUBY-3 has two different dose escalations that we'll be going through, both an 80-milligram cohort and a 240-milligram cohort. RUBY-4 will be going directly into a 240-milligram dosing group. There'll be no 80-milligram cohort in that group. That's correct. There's no, there's no pre-indication sort of phase of the study. We'll be going directly into all three diseases in both trials, at the doses that Mitch mentioned. Got it. That's helpful. Maybe just one more question from me. I noticed in the press release, for RUBY-2, you plan to sort of start that study in mid-2024, and you make a comment on some enabling data from RUBY-3 and RUBY-4 studies. Maybe you can just clarify, you know, what you're hoping to learn from those studies that will enable you to start RUBY-2. It's primarily multi-dose data. Since as you know, the phase I study we ran is a single ascending dose study. In addition, it will give us greater confidence in the dose selection for the phase II since that's a large study. Yep. Got it. Thanks so much. Thanks, Mike. We'll take our next question from the line of Tara Bancroft with Cowen. Please go ahead. Hi, guys, and thanks for taking the question. I'm wondering what do you expect the rate of enrollment to be in the basket studies now, especially given the Truveta collaboration, and when do you think that you might reach full enrollment? Thanks. Well, you know, what I'll say is that, you know, enrollment in general has been a challenging clinical trial environment to enroll patients. That being said, I'm pretty pleased with the way RUBY-3 has started. We're getting a lot of investigator interest and a lot of patient interest. I think you saw that in our comments in the press release today. That in and of itself is encouraging. I would say it's early on in the start of that trial. If that trend continues, I'll be excited to enroll fairly rapidly. The Truveta collaboration, I'll talk a little bit about, Tara. I appreciate you bringing that up. You know, I think we've, you know, we've always enrolled trials in a very kind of traditional way. We work with CROs, and we engage investigators in a really kinda active way to identify patients and bring them into trials. I think one of the things as an industry that we've done fairly poorly is using some of the new electronic medical record systems and large cohorts of patients across multiple centers to identify them quickly and then recruit patients into clinical trials. Obviously, Truveta is a Seattle-based company. We know them well and work with them to kinda enable their, you know, member partners to identify patients that are relevant for RUBY-3 and RUBY-4 to enroll them in our clinical trials. Okay, thanks. We'll take our next question from the line of Thomas Smith with SVB Securities. Please go ahead. Hi. Good afternoon. This is Brian Connelly on for Tom. I believe you just responded to a question about Truveta. Just curious if there are any other gating factors or any other obstacles or challenging factors you're encountering as you're progressing the basket trials. Thanks. Yeah. Thanks, Brian. No, I mean, the reason we put Truveta in place was to be proactive at the start of the study. You know, these are things that you wanna be in front of. I would say our traditional efforts are looking as good as I've seen the trial get started in terms of launch, I think because awareness on the targets and strong awareness in the space, and we have a great group of investigators that we've brought in. The reason we brought Truveta on board is we didn't wanna have to, you know, add it on later on. We wanted to, number one, do it at the beginning of the trial, and two, as we push into phase two studies next year, that could result in accelerated approval. We wanted the collaboration between us and Truveta to be kind of fully integrated, so we can leverage it as we move into bigger studies. Yeah. Great. Thanks so much. Yes. We'll take our next question from the line of Mark Breidenbach with Oppenheimer. Please go ahead. Hey. Good afternoon, guys. Thanks for taking our questions. Just a quick couple from me. First on the Truveta collaboration, have you specified what they're getting in return for helping optimize enrollment of RUBY-3 and RUBY-4? I'm sorry, Mark. I lost you at one second there. Can you say that one more time? Yeah. Sorry. What's Truveta getting in return for helping you guys enroll in RUBY-3 and RUBY-4? It's a traditional services agreement. There's kind of a baseline fee that we pay them. You know, as they enroll a certain number of patients, they have certain objectives that they need to meet to be able to generate service fees and as a result of that. It's not any different than traditional services agreement. Okay. Got it. With regard to the upcoming presentation at WCN from RUBY-1, is there anything in that presentation that we haven't already seen? What's kinda gonna be the focus of that upcoming presentation next week? Our main goal is to reiterate awareness. We didn't present there last year, as you, as I'm sure you're aware, but make sure that, you know, just build awareness about the target and the molecule with that audience. There will be updated phase I data with regard to additional follow-up with some of the subjects. Although the general conclusions have not changed, which you can tell from some of our preceding comments. Okay. Got it. maybe one last one from me. I know you know, you mentioned the 80 milligram and 240 milligram dosing cohorts in RUBY-3. Can you just comment on the dosing schedules and how those compare to, let's say the, you know, if we use telitacicept as the closest equivalent or competing drug, how the dosing schedules compare between your drug and RemeGen's? Thank you. Yeah. Our trials both are dosing at a Q4 week dose regimen, and that's at all doses or both doses being tested. As far as we're aware, RemeGen is 160 milligrams subQ weekly, and that appears to be their doses for all of their clinical trials. In comparison, we're Q4 versus Q1 week. You know, Mark, that's one of the key when we start to talk about best-in-class potential for pove, one of the key things that differentiate us is, one, that we're merpone. Two, that we have a much more convenient dosing schedule. The fact that we cover both cytokines more completely than either of the wild type TACI-Fcs out there allows us to take a pretty broad development plan going forward. Got it. Thanks for taking the questions. Thank you. We'll take our last question from the line of Joe Pantginis with H.C. Wainwright. Please go ahead. Hey, everybody. Good afternoon. Thanks for taking the question. Wanted to get a little more color, if you can, regarding the end of year initial data from both RUBY-3 and RUBY-4. Is this going to be essentially, you know, early response type of data for each type of indication? You know, can we get more than that initially with regard to, say, any translational or PD data? Yeah. We'll be focusing quite a bit on both traditional endpoints as well as biomarker related data. PD endpoints, including immunoglobulin target, cytokine targets, as well as and then what I mean by biomarkers are things like Gd-IgA1 and, you know, IgA nephropathy. Each of those indications has their respective antibody that we'll be looking at. We'll be looking at all that and look forward to being able to report that for end of year. That's great. Do you think you could just remind, I mean, since it's a basket concept, you know, how many per indication you're looking for and how many you think that might deliver for the initial data? It's a basket trial. Joe, so, you know, we'll see how many patients we can... I can tell you that we're getting interest. At least in RUBY-3 so far, we're getting interest across all the different subtypes testing, IGAN, lupus nephritis, and primary membranous nephropathy. Exactly how that mix is gonna shake out, I think it's too early to say right now, but early on we're pretty pleased with the mix of interest that's coming into the trial. Sure. Got it. Thanks a lot. Yeah. There are no further questions, Dr. Gold. I'll turn the call back over to you. Thank you, operator. I'd like to thank you all for taking part in today's call. We look forward to seeing many of you at upcoming investor and medical meetings and providing updates in the months ahead. Thank you, and have a great afternoon. Thank you, ladies and gentlemen. This concludes our call today. You may now disconnect.