MGNX - Earnings call transcript Q1 2021

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Operator

Good afternoon, we will begin the MacroGenics 2021 First Quarter Corporate Progress and Financial Results conference call in just a moment. All participants are in listen-only mode at the moment, and we will conduct a question-and-answer session at the conclusion of the call. At this point, I will turn the call over to Jim Karrel, Senior Vice President, Chief Financial Officer of MacroGenics.

Jim Karrels

Thank you, Operator. Good afternoon and welcome to MacroGenics' Conference Call to discuss our First Quarter 2021 Financial and Operational Results.

the not a chance outlining press which available has results, review today's who our is issued in we release under anyone had macrogenics.com. to the these announcements, website For at tab Investors this afternoon,

discussion statements also as the Act will I listeners You it after Provision conference expectations, calls our of Harbor result report website archived factors, important the include a for by discussed two would materially hours for alert XX will under Reform results call current to via may files listen today's Actual that Securities the this with completed. on indicated like may of about differ webcast the of to company's various Litigation the that section purposes and those you risk plans our XXXX. approximately constitute factors of is including annual, may from be statements where the statements in and forward-looking days forward-looking Safe beginning quarterly future SEC. those Private these prospects

statements forward-looking as as represent representing any views views of today only any and relied should our addition, In of date. subsequent upon as not be our

like point future, extent required these by update looking Officer we elect turn of changed the Chief Koenig, Executive to so views call to may I'd President except the Dr. to While Scott MacroGenics. to even applicable we any do And statements in at obligation forward over disclaim some and the specifically if now to our law.

Scott Koenig

results highlights the to let the afternoon, I call first welcome I via me programs. But so, financial This before and quarter. for Jim, review today. I'd first from Jim. to clinical like conference you, participating our will back turn our Thank will who call provide key do webcast everyone

Jim Karrels

Scott. our quarter financial our March you, well recent XXXX, position as as reported the financial for ended afternoon, results which progress. This MacroGenics Thank XX, highlight

ended $XX.X XXXX, this to net collaborative of MacroGenics' primarily $X.X million XX, for March afternoon, of total XX, a release in described exclusive agreement quarter milestone compared $XX outside progress our quarter total of MARGENZA, revenue in of consisting with revenue from included during license March the million related the XX, $XX.X million quarter the March including U.S. mid-March, XXXX. XXXX to was recognized the agreements and million ended global our As Revenue development ended Incyte. launched Retifanlimab revenue which collaboration sales for under

compared the decrease expenses This higher Retifanlimab. Our and primarily $XX.X MGDXXX million XXXX, quarter the costs $XX.X million in offset partially research MGCXXX, and XX, March development by for a development for XX, ended ended Flotetuzumab, related to and manufacturing due to were projects XXXX. expenses for to March quarter preclinical is increase

EVERSANA. March $XX and million sales XXXX XX, This $XX.X our expenses were agreement primarily launch and compared general of selling marketing the share increase quarter per ended to Our with March for related million to as administrative due XX, XXXX. ended MacroGenics' costs for XX% to the MARGENZA activities and prelaunch was quarter

$XX.X loss was for a XXXX, to million ended compared of the March million net XXXX. quarter loss net the quarter Our XX, March for ended $XX.X XX,

$XXX.X securities was as XX, compared XX, of equivalents million $XXX.X of balance marketable cash cash, March to December Our and XXXX as XXXX. million

the of average we proceeds net ended of $XX.XX, price at market X.XX through the share or sold million million. During per XX, shares an ATM XXXX March at quarter facility $XX.X our raising

ATM we As statement. a refresh million depleted ATM prospectus million to by the facility, fully today our $XXX supplement previously registration is our filing $XXX filed shelf

July date and both are two BLAs remind this Teplizumab. will for PDUFA target our Retifanlimab in scheduled for of terms relating listeners Finally, cash of there action I year runway, that

should them. over discount both to no XXXX as our control budgeting discounting, XX, anticipate potential enable cash, fund contemplated. March and continue cash to turn collaborations the we cash collaboration purposes, operations And our anticipated and with securities as and this us now, combined For call the of equivalents as have through to I'll advance back currently marketable payments company's Scott. Even XXXX, we with programs milestones that we assuming

Scott Koenig

Thank Jim. you,

cancer. launch we the commercialization life-changing recent With to and delivering on vision patients potentially MARGENZA, therapeutics to of our are provide with

We of of body the our clinical are pipeline well-positioned and growing to advance preclinical deep candidates. emerges this from mission data product as

awaiting and registration-enabling And Teplizumab of multiple outcomes including or gastric PDUFA the to in know and potentially MGDXXX. Flotetuzumab including for in time dose me related are and and These walk let to you updates from ongoing you through With registrational We portfolio backdrop, molecules. we cancer. that MGCXXX, of data are clinical July. studies, Tebotelimab, our of this multiple on particularly finally, proof margetuximab two expansion eagerly AML, studies, about Retifanlimab eight addition excited or use in many are concept clinical to

provide margetuximab. First, on update let an me

was mentioned, I in with our As EVERSANA. partner Jim MARGENZA in both launched and commercial mid-March of coordination

NCCN As or approved breast disease. anti-HER-X a with treatment was MARGENZA least one at for regimens, cancer more adult HER-X-positive which is prior reminder, patients MARGENZA of we was combination where of the with for included chemotherapy guidelines. metastatic metastatic recently in received in two

multiple the on for Owing to provide don't realities market, I HER-X-positive sales we this MARGENZA a later the and oncologists. expectations that in better sales, changes As until sense recent history, when for approvals, expect cancer is have we have mentioned uptake competitive abbreviated patients. taken place these year to MARGENZA have of market, we modest guidance call, sales including in by great new breast which quarterly given our last

the the end by breast of event based study, analysis as completing of regard on Finally, cancer on the now is the trial Based X XXXth for ongoing overall may metastatic for rate Phase OS cancer, the survival. we third events of supported to recall, Sofia still you current metastatic Sofia final by breast the the accrual quarter. that X margetuximab in of the anticipate approval FDA, OS with ongoing Phase OS data accrual

agent we consists designed junction trial of breast in X/X gastric in evaluate are modules margetuximab margetuximab Beyond cancer, the investigational an This advanced and line chemotherapy junction study HER-X-positive checkpoint cancer. with first with gastroesophageal for treatment two in with or with gastric a patients as or without Mahogany as evaluating cancer. metastatic Phase a patients potential gastroesophageal advanced inhibitor or to combination

efficacy previously The abstract placeholder As A in safety the in investigational XX first relating abstract updated margetuximab. is and cancer evaluated and half included lead a submit Central checkpoint evaluating by for initial which an antibody submitted standard will ESMO. to updated we submitted Retifanlimab abstract with of chemotherapy through by were module consultation was compared China XX medical margetuximab whose preference plus ASCO inhibitor patients present study's combination B we of care the indicated, our margetuximab when in resistor our investigator is in most gastric variable and patients of is with Mahogany tumors to enrolled of treated meeting. mid-February coordination data abstract expected continue will of in with with combination of radiographically molecules The is accepted results to enrollment anti-PD-X been ASCO, a however, have Lab. the who irrespective review, the Module ongoing in trastuzumab partner one Module expression therapy either chemotherapy we with withdrew and XXXX. of Greater Zai lead MacroGenics' in currently to investigator patients in regional B, HER-X-positive PDL-X two to enrollment with of

me Next, CDX molecule. investigational by our DART specific discuss x let Flotetuzumab, CDXXX

cytotovic AML. early single We continue to relapse primary of patients BX-HX. enrollment I'll XXX enroll to full a XXXX. completing failure duocarmycin that the study next or express investigational and of conjugate antibody and the the to alkylating XXXX to induction clinical late Flotetuzumab further evaluate deliver on providing drug study MGCXXX, in cells arm our We discuss with registrational Flotetuzumab updates in designed to development DNA up clinical anticipate payload

the provide a the cut three of you we X in upcoming cohort, a we you in XX XX, data update expansion ASCO January melanoma from Xmg/kg clinical to the MGCXXX of titles added melanoma abstract these preliminary abstract see Based poster X When included Phase the As of which patients. Phase data we mid-May, study. XXXX, to submission deadline, data had on will ASCO's ahead out February that cohort saw at patients, be enrolled on off the an as conference yesterday, comes release presentation. plan

cell we we also a although melanoma dose X based escalation, enroll dose data, and added not any neck preclinical available head mouse in and dosed on carcinoma carcinoma patients the neck expansion addition, and head squamous carcinoma data with at of did In head neck presented patients be cohort, squamous to cell and mg/kg. model squamous with both and PDX other cell the AACR at

by patients breast patients later the lung XX as mid-year We have by PSA metastatic early we triple here, prostate expect With the XX XX as enrolled are of non-small patients. than the castration data. this therapy cancer year. to as metastatic data well cancer castration cancer regard cell cancer today, resistant encouraged cohort, fully more remain two the prostate seen and to patients appropriate them this enroll caveats is we negative we've Over Again, of the and on with to-date. preliminary expansion XX resistant

at look forward from MDC scans awaiting presenting any expansion cohort to at ASCO. the too conclusions. have this to We draw patients of data few We any the time

in with PD-LX PD-LX a FC FC molecules cell solid Another BX-HX patients an of Enoblituzumab Enoblituzumab, positive. the over-expression using with we negative a created patients regimen Tebotelimab frontline who exploiting who initiated optimization investigational squamous neck In either for carcinoma of study Retifanlimab in are combination of and our in of March platform. head in is chemotherapy-free the are our tumors antibody or engineering

is bispecific Next LAG-X up, our x Tebotelimab molecule. DART PD-X investigatioal

combination expansion well monotherapy a study margetuximab. Tebotelimab evaluating types, are in as in both We dose and as several tumor study with X as Phase

provide next stage of later to year. expect development for We Tebotelimab this on updates the

Lab Taiwan of currently Kong, to monotherapy Hong Tebotelimab China, ongoing Zai Macau in studies right combination and has partner multiple and in Our has develop Tebotelimab. commercialize mainland the and

DART Let MGDXXX, bispecific discuss that investigational checkpoint next targets PDX me CTLAX. molecule and our

stable Phase IV and non-small patients cancer Our X dose colorectal expansion checkpoint X of dose recommended microsatellite at cell initially lung Phase Xmg/kg. is cancer evaluating study with the

of in metastatic are with prostate expansion adding cohorts and resistant process patients. castration with cancer patients melanoma the We

accepted me anal review licensed patients BLA INCMGAXXXX. The for as to The potential for the are anti-PDX who XXXX. adult have Retifanlimab. squamous treatment XX, canal we investigational next Retifanlimab metastatic of inside to of or Incyte's locally turn target Let for carcinoma action with antibody progressed is cell Incyte According the intolerant to PDUFA or on FDA priority that a for platinum-based Retifanlimab is statements, who chemotherapy. July advanced date

stated in to Incyte Merkel potentially development pursuing registration-enabling addition Retifanlimab cell endometrial cancer, in lung MSI-high has patients studies of cancer. its cancer, anal with as and In monotherapy carcinoma

targets X advance which molecule and with under ADAMX is expansion evaluating open portfolio. other our in have combination indicated in product Under are innovative anticipated XXXX. momentum leading forward escalation our ImmunoGen. the in candidates dose and XX/XX investigational We study the IMGCXXX they cohorts finally, move with to for complete clinical to assets immuno-oncology the with development And be agreement addition, Operator? We expect our [ph], of questions. they by advanced to second co-development being through initial collaboration, is In early a happy ADC in they continuing build their now to Phase look pipeline data and would call XXXX. ImmunoGen

Operator

question Leerink. you. will Jonathan [Operator from of come first of SVB Our Thank Chang line Instructions]

begin. may You

Jonathan Chang

Hi, guys. questions. my Thanks taking for

the latest any thoughts on you prostate expansion at lung update at expect to pertains some follow upcoming as see data cohort, First on ASCO? cancer Should ASCO? expectations maybe provided You hopes your that. MGCXXX it cohort provide expansion can at to we the color to question, up and

Scott Koenig

very your that study. nature Jonathan, point, thanks much on At early not the updates expecting very question. cohort this long of the given we're for

have of I not study enrolling the patients As this previously, year. indicated after in beginning that start did till

We available. data the looked haven't at full actually set

devising the now are update. included very lung cancer be to expect as poster of patients shortly. We the in don't the But I

Jonathan Chang

question. it. Got And clarifying Thank you. one

ongoing want evaluating neck expansion but melanoma cohorts? I the level think heard Xmg/kg expansion the I and as cancer and cohorts this and same regimen just head Are double-check. MGCXXX to other dose I and both the

Scott Koenig

expansion X weekly. in at neck cohorts q correct. melanoma Xmg/kg, The head That's new and and

Jonathan Chang

just thoughts from potential in question XXX And it. your Got one me. What updates final beyond are ASCO latest year? this

Scott Koenig

at updates year. this to future meetings we So scientific provide intend

the but We a not to stage. ESMO. yet, the has planning is Obviously, up submission are in data come that considering

Jonathan Chang

Got it. the taking Thanks for questions.

Operator

Peter from next question from Lawson will come Barclays. Our

You may begin.

Peter Lawson

taking Hey. questions. Thanks my for

parts in two breast as how ASCO in the other see triple think data? Just really for guess expect about should data negative the or to and data earlier the we we see I would much of kind we indications cancer BX-HX, prostate with any

Scott Koenig

Peter. Thanks, Thanks.

as quantity, haven't is data of in update. poster. be the week I the the prostate off digit digit the devise seen the you'll as of yet My There said, So number of patients. doing past with regard I double in included. to we actual this we're new cohort a data cut patients have terms a will expansion expectation

said on patients. call XX treated over I have As the today, we

of cohort. that QX With we having slower a don't we'll the PSA at basis. completed some given that year. on weekly are patients negative that at cohort So, PSA half cancer that triple this lung patients XX to than basis least indicated patients regard and and possible scans on of the expect nine-week enrolling that number the of initial as looking is till I prostate enrollment significant breast, second the is the of It looking and prostate at results evaluations in every have

that we will include not meeting. the ASCO So, at

have we on melanoma included from dose as I said another have indicated data this had in patients. which, be week and there Xmg/kg We prostate indication dosing However, three call the will had will as noted another today two the study. with patients today, patient in historically X expansion, we include q the we

Peter Lawson

and Good. trial, [indiscernible] that add by neck, influenced to or just model? PDX reason And the the head was

Scott Koenig

regard As compelling data, presented of XX% [indiscernible] PDX of two a we latter years patients rate to before even Enoblituzumab, combined with PDX of response model and responses. commented lot as durability we very those and-a-half recall, reassuring. with ago, with with today, But head you was had overall we model obviously the neck data very the the

As you treatment chemotherapy. cancer head plus frontline neck pembrolizumab know, is

now was lateline we well. very ability very a and add in based was treating as then checkpoints So, population two an different thought patients the natural potentially PD-LX plus status, to frontline with MGCXXX Enoblituzumab to on us that encouraging

Peter Lawson

Got you.

durability the Would question, Just a for have data to presentation? abstract? we we get would the in wait final

Scott Koenig

abstract With discussed abstract, the on was the XX. regard as The to February again, cutoff date today, was January.

but data, on as Xmg/kg earlier noted on the on that, that the in is So, past still I group very in included little one least month, Xmg/kg know therapy. at cohort have of said patients there's for that's the abstract. Having calls comments I the

update. wait the for data So to again, we'll have the actual to hear

Operator

you. Thank

next Our line of Miller from will question Jonathan ISI. Evercore from come

Your line is open.

Jonathan Miller

guys. for thanks questions, the Yes, taking

color are I inundate well these responses, you should that Are correctly? let the I hear in? first [indiscernible] cohorts' to all on Did we you I maybe ASCO expecting you those said on think hear let's within as happy other were start to rates wait gears one -- it in to say said with switching see the any fair see then to -- little Thanks. PSA responses a those before me cohort. more PSA Is holding bit answers And that [ph] I about have mCRPC you the cohorts side the data. anything Or I from we at heard Secondly, thought mid-year? activity those cohorts? you.

Scott Koenig

Yes. Thanks, Jon.

and So going do obviously present I scientific typically all project to to with can is regard ASCO. it data, what timing, to time appropriately. and we're like the We the right now at meetings, other these cohorts

week in this likely the general that expansion we're we've additional my biological the pleased. in scientific to getting I Xmg/kg it is PSA, seeing what presented the from But just of new activity looked With year. that. historically and safety or cohorts, second the a trending have seen meetings they is favorably So, sense ago. and patients half is then we'll I've literally with at that additional the than expansion keep What most from regard one I'm regard to at in I'll the the more cohort. data the won't numbers bioactivity, described data so with that very more far, profile say I'm some Obviously, coming week. And

Jonathan Miller

registrational context now updates we noticed I How forward guess in we CDXXX CDX and gears that think I of Thanks. the for moving the on x data about potentially maybe. Flotetuzumab your switch that there. plans can for should set? cohort new

Scott Koenig

continuing. Flotetuzumab providing failure study. anticipate enrollment of by of patient on induction the early the year We the is The updates study independent. Totally relapse primary and that registration of the end

very As prospects advancing before, our highlighted about we're excited the of I've technologies. platform

regard this this Flotetuzumab, with reduce cytokine plus should release FC dramatically CDXXX of to based seen molecule slightly have having of those patients incorporation domain. the CDX, preserve contains that an altered x So, a we with anti-tumor of CDX the the ability but dosing intermittent effects on

our of molecules very technology. portfolio one excited, is in that's we're on So, emerging several as this, this our advancing preclinic platform

Jonathan Miller

makes cohorts I you sorts a but little one. of prostate? driving is And sense. you in that On sense think indication? for last what's what's prostate different. about giving MGDXXX, little for melanoma bit into you one Can a bit new expansion these targets, confidence Makes just talk

Scott Koenig

of a couple opportunities things with molecules to that's our are that interest cancer, obviously strong there driving we're So, -- at in prostate in indication. advance multiple looking

As probably year objective our one quite close response which a with in And two a was that's that cancer, a response, and-a-half. now. escalation know is in in remember, prostate complete I patient coming that study, think remission to I at an it's least of and dose remarkable. resistant had fact patient patients the you on again, years was still castration

prostate pleased conducted Also, that the very you that cancer with as show studies know, that. quite about [ph] were we're So, were responses in epinebo favorable.

for indication, the gives active potentially meet safer not of are as approval. the one missions finally, idea our MGDXXX, did like these them develop in know, company safer are you opportunity other The a of lot molecules so even molecule able look And get use molecules and ability is an to that being they combined in and the better we of each to enthusiasm. very mechanisms individually, study a our response. here objectives to our the Although to combine particular us orthogonal a for in and we as to of

combining checkpoint to shown been MGCXXX Our preclinical be it's quite molecules, for favorable. data instance, and

And so, monotherapy. do to maybe as ask those that are not designed be surprised in questions at we future pursuing indications studies,

Operator

Stifel. question line Our from Stephen from will the come Willey next of

You begin. may

Stephen Willey

prostate there for ASCO, this Thanks some I XXA whether taking if the cancer variable mind. not be of or I'm a to patients afternoon. emphasis good to a you at and of to Yes, couple around going [ph] though of you guess of be questions, But that Is don't question prostate just in can notion see respect see you lot ask going even that to resistor able we're patients the actually you the what refractory we think this included anything double is most I say, digit believe, with some Of cancer I patients. there minority the to may guess in? presentation? may proportion those of resuscitate do seems be

Scott Koenig

Steve. Thanks,

had the So with bony-only patients more measurable to disease. looked disease expansion to which be seem is XX% normal they regard than I of that patients, composition a with than visceral little over disease, following to with looks, I've on measurable, which previous patients then either patients resistor and noted that the is cohort, whether regard XX%. bit are or list node, What regard they lymph [ph] have latest to have that variable of a little haven't the less

we normal So, have a I'm assuming distribution. that pretty

at we're is every only valuable XXXX and becomes said, I have issue most the of because nine as scans getting these weeks. scans that came the think in patients time whether I any we

at anything in don't valuable second certainly by this have year. have will the ASCO, valuable half that's So, if of it we we

to So, back to patients be evaluated. it's have time anything, holding not we're the that have

Stephen Willey

suggestion do in high. response correlation modality pretty literature, I across very in resist a terms that basis that's do think helpful. between, PSAXX just the is think correlation holds That's of broadly the And you this Or But a it. the just therapy? that treatment Got you and differs of a the that that on target-by-target there's landscape? correlation know response

Scott Koenig

is not I full think answer the yet. in

good a that data think the recent I suggests pretty correlation.

are that the of AR approved agents many part for treatment know, the inhibitor you are family. As of

effects. TSA And molecule an suspect different be effects with cytotoxic so may then prediction and than, on ultimate the I ADC there that say,

just think more need I to some evaluate time we'll this.

only case by that is the only the That's can ascribe thing can tumor. mechanisms. the here, truly actually you're possibly see where think that or I that here in using an I direct either immunological the in ADC, I by cytotoxic mechanism a reduction PSA secondary effects to reduction

favorable. -- rising So, particularly stage that that I to for to also PSAs, that patients stage life. have quite their doubling time, the we'll that not have see we're should and looking know improving these morbidity we're mortality continually be patients, whether curing both patients should that and off also that patients also at Because late of prolonging seen shut as the ultimately, correlation late ability

last time see conclusion by we we're again, going to a we with year continue a as out in need to think the ultimately very more I positive to I data current But come So, said, the light. here. were initial data, excited

Stephen Willey

started escalation plus mentioned calls helpful the on some just I we've data you've That's Retifanlimab. the refractory with and trial kind those Especially Thanks. with the or a the [ph]? you guess, that of combining Retifanlimab? MGCXXX seen now possibility setting for PD-X of accelerate recommended timelines? that settled lastly, of And development know basis that MGCXXX in Have you chemo a did Scott, I inhibitor. protocol for the I with PD-X dose without guess,

Scott Koenig

Steve. Excellent question,

starting over we dose when were the and flip study So, with combo Retifanlimab. to quickly expected go the escalation, to we

However, were the surprised saw the obviously with reduction. we PSA pleasantly data robustness we of with

you know, the we didn't escalation, went even And part so that the to out expansion. the rather than of as protocol, finish on dose continue with we

don't have data PD-X Now just necessarily Retifanlimab. using Tebotelimab, resort LAG-X the that lot to CTLA-X, and now we more of to addition different to Retifanlimab, MGDXXX, in opportunities both we have with with so have and PD-X and a x much

would it's right necessarily in steps designing discussions so going that not we're assume be those I of to and studies, so, in next now And combinations Retifanlimab.

Operator

Yigal will line of Nochomovitz question from next Our from come Citigroup.

may You begin.

Yigal Nochomovitz

neck negative Could you Tebotelimab PD-X? patients, targets in Hi, combining Scott and just questions. clarify Jim, PD-LX Tebotelimab the head given you're taking thank the Enoblituzumab for with you that why

Scott Koenig

to we FC back described to last with year made our with combination and Tebotelimab. observations regard This ASCO and Yes. at engineering the goes

line a were As who checkpoint like Tebotelimab of in you majority had margetuximab in HER-X-positive many with very we data expression. exciting very these patients an late recall, presented or patients the that low

PD-LX, low very LAG-X. low very So,

PD-LXX. combination, also and up many community result before, studies and Tebotelimab. LAG-X with fact, preclinical At conducting were dramatic with innate that therapeutic ability we in the as specific same demonstrated were we the and have Enoblituzumab up-regulating engineered combination Enoblituzumab, time of to In added FC the effect a the to patients with by we were Tebotelimab as the opportunity treating and more as discussed an conducting drive of both a of PD-LX. much We see that getting when now studies,

the study this results engineering the again, a where Phase that's negative, March assumption but would with was translate the or this PD-LX as that's negative from with data for the And is head PD-LX you same way said negative we poor. in and PD-LX X Merck [indiscernible]; the So the is our neck patients clinical FC pembro, in know, when very from plus given historical positive Tebotelimab. Enoblituzumab with same engineering

having here the increase think will to way any be So, effects. we expression salutary

Yigal Nochomovitz

And Okay, and did as Phase you rationale X you if melanoma? mouse on wondering then you the PDX study head just into for expanding I'm the MGCXXX melanoma just for had data neck. also got it. could for comment

Scott Koenig

or should That's till also of melanoma. presentation. I Okay, ASCO MGDXXX, say patients about you CD-X call the our our were Xmg/kg, agent, But treated and today, single the patients so specific in in wait x with patients all was historical observed tumor With put BX-HX. the stage those as this as responses also melanoma. in same is experience the we data, thing I'll noted Enoblituzumab reduction had without objective on in who context patients the we late three specific and at by had which a revealing melanoma

showing to BX-HX. avenues So, melanoma specimens from also that done population tissue of of continue good melanoma and immunohistochemistry with expression at we patients course, many this we would evaluate have be a point suggests studies high to have

Yigal Nochomovitz

Okay. you much, Thank Scott. very

Operator

question Our Suisse. Brad of Canino next from on line the Credit

may You begin.

Bradley Canino

the gastric call. one module a thank the and at reporting about on think I me question ESMO. rationale ask reduce cancer for Great, I'll the having you the But would debilitating going for of a expectations. to on Because to data likely they not market toxicity, fit would you're is do provide. be would have that A pretty struggling just eat these present tumor regimen and understand the but fast from symptoms chemo-free which to response, with I a what want the chemo are patients I product

there's a important a your Is how So, do Or regimen? you'll is that this the to opportunity have triple here? you chemo relative later? just you. niche chemo-free think really demand Thank

Scott Koenig

That's an excellent via question, you Brad. Nice phone. to meet

So recall, these in studies had actually and second and conducted and who margetuximab we again, if pembrolizumab you -- have are Herceptin patients of saw line progressed on and chemotherapy.

course, a that therapy And is large positive value approved much line therapy population, when quick very certainly of patients. those the was the you number compare, of response studies. our with overall And different than survival And so of positive line second that first of actually in better their population dramatically and PD-LX a X-plus than paclitaxel. better HER-X that additional

when be setting, frontline at so higher. their rationale look is, expression PD-LX the the HER-X in the you that higher, to fact was patients also, expression be that is tends And and tends the to their

durability later expected to terms data conference that are the So, response. rapidity we year present response, of and expecting of a and the the in had the question at able again, addressing you hope to of be this or scientific had

Bradley Canino

forward Look to Thank you. Great. ESMO.

Operator

from line Boris from comes Peaker question next Our of Cowen.

may from Guggenheim line You And Boris, the our is your of Securities. begin. next Etzer open. question Darout will line come from

begin. may You

Etzer Darout

taking Great, the for question. thanks

introductory remarks. question first the clarifying sort The guess I from one, is of another

patients Just question. second And expansion neck? the then wanted a head are and prostate on therapy pace to also in I and then the melanoma have confirm enrollment made that sort all and the but on two of and of

Scott Koenig

With neck head, the we'll couple melanoma second is days as that year. that is This enroll expectation of to going. regard But updates a seen ago the tell you that's I work. number as The provide we over today, of correct. so a of enroll up. of this a we opening statement of days half again, data was I year. patients but change couple how ago So that go that will in which the will had is just and the speed course in the it -- significant was can the correct, that

Etzer Darout

on maybe every and Any Flotetuzumab, of what question based thinking Great. Thank are sort be guess done what you've once saying? you're thoughts you. weeks? interval frequency then kind far, every administration And two week could the how preclinical based to of on on you one relates once evaluation around I so MGDXXX. that of about that

Scott Koenig

question, Ed. Good

obviously, happens dosing q regimen in or think to So a increase to q have reduce But I have possible. see may We'll to q is X. we'll X weekly to It just certainly patients. what see. X

Etzer Darout

you. Thank Great.

Operator

question from Lebowitz Our David of Instructions] [Operator Morgan next from will come Stanley. the line

may begin. You

David Lebowitz

you much taking question. Thank for very my

what hold On be how to year? the versus at trial were this gastrointestinal XX ready? be data many off guess that to driving data the what And pushing, A, patients just factors I are the will I behind ASCO later guess module originally presenting presented expected presenting the complete the postpone leading set is point, until wanting factor the is wanting physician to at this

Scott Koenig

It's forward review. had had a that Yes, that David. XX simple. over review our and patients little know, on very very, XX It move of about to you we investigator only thanks, was as patients central decision based

really was presentation. in-between it So

the to compelling at see with study. the obviously a evaluated fuller much of oral XX there is be there get investigator so any And a poster type partial ESMO, we harm didn't that with more allowing we're study, till radiographically, And set, since patients on only presentation this hopefully full to was it present and a session. an given waiting decision was data potential for going this was a no this

David Lebowitz

Have any patients original point? of I this guess, abstract the to undergone radiographic that assessment in the,

Scott Koenig

review this So, been central XX investigator set But patients no patients at they the there's patients. some some have additional data evaluations. point. all There's have full -- available

David Lebowitz

taking Okay. Thanks for my question.

Operator

like any turn you. I over the remarks. not queue. showing I'm to speakers for questions the any to further call closing in Thank the back And

Scott Koenig

participation the the a on programs your afternoon. We Have in meeting distant not-too wonderful for Operator, in look our you, to today. Thank thank forward and future. updating you you

Operator

conference today's This concludes for Thank you participating. call.

You disconnect. may now

MacroGenics (MGNX) 30 Apr 212021 Q1 Earnings call transcript