MGNX - Earnings call 3 2023 | MacroGenics, Inc.

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Operator

Good afternoon.

We will begin the MacroGenics 2023 third quarter corporate progress and financial results conference call in just a moment. [Operator Instructions] At this point, I will turn the call over to Jim Karrels, Senior Vice President and Chief Financial Officer of MacroGenics.

James Karrels

Thank you, operator. Good afternoon and welcome to MacroGenics' conference call to discuss our third quarter 2023 financial and operational results.

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

alert call the listen where prospects that our listeners would of call be for as today under is of conference as will discussion filed approximately beginning and to materially webcast not be those future SEC.In XX include views reports those on forward-looking may expectations, of about including the completed.We by Factors purposes statements results with You discussed upon may days in differ only our Actual the this two Litigation the any XXXX. via forward-looking also archived of Reform our to and website, provision it and from current should important quarterly, company's forward-looking that subsequent represent hours like Act various the constitute date. the of today's representing our statements Risk will views Securities harbor for statements plans, annual, factors, of safe Private a indicated result addition, relied section these any statements as after as

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

Scott Koenig

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

James Karrels

Scott. quarter financial our September you, XXXX position. reported the financial for ended afternoon results which This MacroGenics Thank XX, highlight

$XX for ended XX, the $XX.X XXXX license quarter MacroGenics months total in in release reflects $XX.X manufacturing quarter of XXXX decrease decrease studies, expenses and described compared The costs to million to The million of XX, to total quarter of ended compared $X.X XXXX. ended quarter XX, this revenue September XXXX our September September revenue included XX, XXXX. afternoon, the million in ended and net September million molecules million increased research was XX, ended recognition the quarter Drug revenue ended to As Conjugates, for quarter under during and the million Revenue million recognition of agreement Antibody ADC for September ended the increased primarily contract $X.X MARGENZA the was X revenue to the XXXX.Our XX, Incyte XXXX. compared related by or sales discontinued $XX.X September related to expenses for clinical decreased to related for partially related for offset $X.X preclinical development September million expenses XX, lorigerlimab. the were $XX.X

was September treatment endpoint XX, The million the primary in ended in million a to a for from clinical on quarter September that achievement quarter September the for million consistent the XXXX. was milestone income royalty of of on loss a study. TZIELD Sanofi interest XXXX included related million primarily million of for net MARGENZA.During income XX, $XX.X received Accordingly, selling, XX, and in the XX, quarter Royalty Arrangement ended net ended to decreased Monetization compared ended September XXXX decrease XXXX. a for XX, for million of costs Gain $XX the were Our this administrative September the million March for related the compared quarter expenses the ended XX, September XXXX.Our $XX.X quarter The for the to, is received with net sales accounting payment $XX.X Acquisitions a this to selling DRI general XXXX TZIELD Healthcare from ended our MacroGenics milestone $XXX $XX.X quarter other of $XX year. single-digit global proceeds as sale to LP was for

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

Our cash September cash, that marketable balance $XX.X the runway, XXXX of Gilead and from did $XX.X not securities anticipated balance as and revenues our milestone of equivalents runway cash include from cash terms XX, XXXX we subsequently of partners to addition September in and million as million received, product should anticipate million future received.Finally, in XXXX. XX, our the $XXX.X milestone extend our of subsequently payments into cash projected

study, requirements as the metastatic cancer well preclinical related funding expected study as and LORIKEET II anticipated clinical Our the to to of expenditures call ongoing now, other castration-resistant I'll our Scott. back the prostate TAMARACK reflect Phase in Phase turn II studies.And lorigerlimab

Scott Koenig

Thank you, Jim.

$XX as connection as our great thrilled vobra family to has remind includes achievements, a development candidates recently from payload Provention, duo BX $XX schedule. from million proprietary We TZIELD, regulation. during with in We our types. ahead quarter. multiple is for duo TAMARACK involved am I or of completed vobra capital. member you well tell BX-HX designed in immune our plans you is study a well continue cytotoxic tell since that vobra $XXX million protocol across ADC duocarmycin to efforts through Incyte key we believe expression deliver you of And Phase a to expressing have programs. before the broad take of the antigen's we that, quickly modified in connection molecules to of our tumors this of each the under tumor second This duo II study of was milestone mid-XXXX, of with study But designed duocarmazine non-dilutive BX-HX. began received of this enrollment ZYNYZ.Vobramitamab as from Gilead to business million DNA-alkylating that enrolling $XXX our solid DRI, upcoming promise. of advantage let million and momentarily Sanofi I walk product you pipeline as clinical programs will do about through I me

will As with recently DART to enrolling patients on the the planned experimental receptor dual conducted X CTLA-X Lorigerlimab, vobra have infiltrating the are expressing treated PD-X X lorigerlimab TILs, preferential conducted as castration-resistant have II the our began mCRPC, metastatic in which bispecific, either up most cells, tetravalent randomized study arms We designed no a of but duo We PD-X blockade tumor CTLA-X agent. x antigen who've regimen such you tumor access across LORIKEET taxing X in share Phase mCRPC clinical or second-line, in of primary being molecule. may abundant other microenvironment.We lymphocytes being of previously of of anticipate rPFS. is includes are or trial to is in docetaxel of radiographic in study. progression-free or every XXX to reminder, survival first weeks. XXXX.Next, targeted A X kg from be X lorigerlimab evaluate patients mgs/per This the combination chemotherapy-naive received patients you patients. docetaxel therapy.Participants randomized design study X:X endpoint alone prior study to on total treated current with chemotherapy prior a in to vs. mgs/per with having kg prostate TAMARACK data or X.X half with study containing I update in cancer, study The

is addition, and in just enroll the We and complete while from dose longer combination cytolytic need to estimate molecule the permitting and anticipate vobra renal have that carcinoma, mCRPC cancer, with Ã— advanced melanoma. cancer, in study dosing cell next-generation, study.In the our continue through of Given escalation tumors, commenced Phase patients portion designed of DART cytokine-release share we solid anti-tumor syndrome, with commencing we'll minimize up, enrollment, more to data hepatocellular incorporates time intermittent to study ovarian MGDXXX duo activity, when we carcinoma, lorigerlimab XXXX.Next that pancreatic to enrollment in CDXXX dose expansion CDX I/II CDX maintaining we including a might half-life. component patients bispecific the in

Phase believe the Our received syndromes. myeloid at first a of during predefined and nomination platforms relapsed programs study.Also, points leukemia we malignancies, And scan cancer with prostate collaboration prostate evaluate Phase license the myelodysplastic expected of imaging localized ongoing worldwide inhibitor study MGDXXX U.S. This with and I'm tumor antibody based conference part trial.The PSMA study I prostate to addition this ADC first XXXX. topoisomerase life-changing their behind DART we is mentioned, call, Fc-optimized technologies behalf these refractory late you more of and the we PET to expertise cancer. clinical conventional on compared IND would with TRIDENT we or prompted X on submit nomination institutional in a to radical million related utilizes CDXXX ADC published expect MGCXXX, second clinical academic conclude, patients.We pleased initiate option biopsy Gilead inhibitor-based work data to to achievement to and hematologic this very of Stay our happy of medicines the we at will submission. decision MRI well we has our about for $XX.X funded an support a Synaffix. to including from linker drug or to the predefined MGCXXX. application research in preclinical Operator? enoblituzumab molecule an per have IND quarter topoisomerase escalation prostatectomy a Gilead to new study our early linker the activity forward from developing commence conduct very In to the undisclosed that look solid related already and molecules grants an IND FDA our that efforts patients X ADC preclinical target. developing toxin technology. intense preclinical high-risk Gilead.Next, additional future we ADCs, this And to patients Recall to dose leverage antibody. of This that MacroGenics and a as investigator-sponsored for and targets prostate technical, to BX-HX. investigational HEAT to bispecific studies, men Recently research Gilead future call resources vision license preclinical earnings a is enrollment early upon molecule of directed prostate as utilizing combination XXXX. data of I an Phase as Jim for with licensed potential acute exploring and ADCs is these with of development inhibitor-based in we'll as our XXXX.In to favorably mechanism of tell now second translationally in currently for the are prior submitted scientific are neoadjuvant a given men described first and enoblituzumab program positive II our the from option payload We pre-treatment the randomized you cytotoxic MGDXXX of monoclonal as sharing you by undergo well optional I collaborators Gilead will we with which cancer against be an telling milestone other milestone to exclusive the recently Eligible in as molecules an enoblituzumab, tuned.To as financial preferences.Finally, readying and cancer rights questions. in for open activity in this that CT of program. potential delivering investigator-sponsored topoisomerase bone ongoing

Operator

Zhu Our comes Charles Instructions] Guggenheim [Operator with question Securities. from first

Yue-Wen Zhu

with, one of my particularly development not arm the a here. for choice potential you potential setting thinking registrational choices given with Congrats also current control the Perhaps landscape? vobra the guys are progress. about with on first shifting just term only duo prostate or potential within longer the cancer, but How

Scott Koenig

Thanks question, for Charles. the

greater PSMA-X. later like been we would the to will clearly, today, updates you recent results at as not regard TAMARACK will multiple clear there's, regard current key to we control we ESMO that and And that with of with which as meeting the from to some So see options point, the TAMARACK needed guidance know, study, interaction is the than described with a may further later agencies, to offered it our treatment leaders advance completion of the them. until than of earlier announced. potential evaluating opportunity that we them is are currently we finish this the study investigator. a population. control very, great have group. by These feel this options But But treatment provide are in regulatory at there line giving include with therapy. for for originally for line is the opinion patients, now specific choices we And the occur We patients discussions

Yue-Wen Zhu

Got the it. quick Maybe the on vobra with one lorigerlimab follow-up duo combination.

also you need this? prioritize so, would next single-agent you And each data your to data demonstrate types might potential this need components or Regarding the year, suffice for histology? presumably and cohorts expansion to would demonstrate individual which you for why? starting current of would if And given tumor from contribution

Scott Koenig

now individual Well, for prostate data a know, vobra as in you lorigerlimab for of we significant and have Charles, treatment example. duo cancer, arms

So a discussion we were for we regards It if again, study final be the the once combination prostate with the this have would with components. prostate. such dosing is of likely of be established that the arms moving to design would expansion individual forward one

have we this likely As add to X time, the ready previously, to other at to said types in not have selected. prostate we X we're ones it tumor is describe will we cancer. addition But

Operator

with BTIG. from Kaveri comes question Pohlman Next

Kaveri Pohlman

Congrats on the progress.

previous asked question guess that vobra. So was I my to is for similar question the

you the about sufficient to directly trial? of pivotal Do after study in first its you a would or move you you another us randomized into will data from If trial just can half thinking you are year. TAMARACK development running think next have be efficacy readouts tell how

Scott Koenig

is of I'm early in very the fine-tune of will to current that at the not for great purpose But control study Phase previously, we mgs/kg. pleased a the similar original current had we this on had a control position study dose with the But data in imagine previously both But as Obviously, I has still X Kaveri, what feel performing.Clearly, X point, the and this of the feedback expansion we on be to other the X year. enrolled from dosing those position to doses. how we the Phase look is it was describe trial. the select design III previously in the trial reported a last will described dosing arm. I we're at described a to what study, in II/III

Kaveri Pohlman

bone big have thinking lorigerlimab that, kidney follow-up competition a on can the use PSMAX/or And drugs defile through like and a chemo do radiopharmaceuticals? And trial from regimen? eclipse patients. could about of and efficacy? marrow if approved you of who maybe How gone And helpful. lorigerlimab naive CONTACT-XX from you allowing a for atezo, impact enrollment [ combination Are based That's for toxicities provide docetaxel trial are patients these opportunity? market you think prior on ]

Scott Koenig

lots the possible So and opportunities docetaxel. there. in to patients have radio-pharm is for questions the study who of of The been lorigerlimab exposed

XX that for study, It despite know, from there of this these As you X/XXX the randomized are fact that controlled opportunities for the Clearly, pluvicto earlier even is line docetaxel. a great data will not encouraging curing believe we We and expands treatment. the be ] in do combo patients of [ the here therapy. patients. the of opportunity

enrolling And with some toxicities be benefit was crossover XXXX.I overall early you have radiopharmaceutical we'll last the other history a survival because your to this about there know, you this question still from bone As from have in the speak this the didn't in pluvicto. we're Could will patients at question. catch of marrow of or to one? more phases challenges going agents regard high repeat of there who Clearly, that for point, in forward. And certainly, study. of the

Kaveri Pohlman

Yes.

if that So on impact think gets it efficacy? CONTACT-XX you if approved do trial, the it atezo, think could based lorigerlimab you

Scott Koenig

should think of in I have -- we that's date prostate report outcome on activity various to a based the that that the going data lorigerlimab be don't superior to settings. a

Operator

Etzer with from Darout comes question next Our Capital Markets. BMO

Etzer Darout

of couple a Just ones. quick

much similar vobra dark X of just for between in dose here studies? we lori sites with of for one; of are the of trial? in then, and of a of drivers and trial Scott, sort And as curious duo that to similar sort And was sort the first study expansion enrollment for the sort combination, currently sort are maybe a have the maybe LORIKEET for site of the you those terms curious the escalation you between if overlap trajectory So could the sort start just how see with overlap TAMARACK XXXX? the where

Scott Koenig

enrolling separate studies, for good the both me you shape question, first in enrollment There Actually I Difficulty]Okay. some Difficulty] which [Technical clearly, good that we're the largely out, and cut in but with for that I let set-up trial think sites was are Okay. very sites is, this to current But answer sites. overlap. year LORIKEET regard late the hear still [Technical into the are but have with in a 'XX, second to the trial. didn't question on

Etzer Darout

I the question Can or? second ask

Scott Koenig

Yes, please.

Etzer Darout

Yes.

lori expansion the Should the where I'm heard? you the Difficulty] sort of in of the So of question just sort if sure vobra XXXX? not of start with escalation sort the here ask [Technical trial curious and was are push I pull in dose again? for you

Scott Koenig

Please.

Etzer Darout

just in with escalation here lori color of you little of were start curious the combination? the where vobra you What escalation? to are maybe No, on expansion can the a with see if triggers XXXX, just sort more the you where of sort dose provide bit

Scott Koenig

Yes. close doses We're the to pretty selecting now.

fine-tuning the doses. are individual We

and end that the expansion early to then move would occur into in expect by the year We of the 'XX.

Operator

Our with Miller next comes question Evercore. Jon from

Jonathan Miller

Congrats even available? they're Phase Gilead on are Phase Are the it to or before they rights rights points that but mean in is possible This is set Phase before guiding meaningful phase taking know one I here. at opt-in mCRPC guess after is on the previously the that? Are randomized first a unspecified I place I on X, data an program. Phase or to Phase Phase Gilead I And But I. see of we here opt-in the is half opt-ins, expansion LORIKEET. data progress. you going II secondly, we to have has public-facing in a XXX were expecting still 'XX then all from ongoing a -- in data setting this expansion I II see

Scott Koenig

of they They is of -- on is time on have the the patients, one. start me the data it from patients and time.With and let study complete. ability to not have study to with that With complete of And that'd for activity be for at I and periods coming enrollment LORIKEET II, setting, X settings the like other do data public expansion to opportunities over the indications have updates they to and to I. to complete, by very we second Phase opt is to regard This in as opportunity but X they makes we years with prostate almost is retreat patients the this Phase the can but some the that now described during the the with plan to chemo-naive would several study, should long So encouraged in But other regard control in to that Phase will any Lorigerlimab. presentation. is the look pursue fact regard the provide the before soon only that still also with LORIKEET test of LORIKEET population can are tumor we regard lorigerlimab. the additional

Jonathan Miller

it. year? a next I we data but expansion-update first missed half maybe set coming expecting Scott, actual lori Are an still

Scott Koenig

what they from move there other just forward. decided decision to once prostate we study the present have data to the have from the indications, as opportunities cohort, to said which is with may based move the to prostate forward of Well, we provide February, indications, that the we non-prostate that that we know, with last particular that, regard you for is, longevity presented

Jonathan Miller

pipeline deeper then. Okay. one on And maybe the

XXX. payload topo you about the payloads and multiple linkers. But on talked previously mentioned You

multiple molecules of got? multiple diverse programs they payloads, mentioned are you've XXX. behind couple linkers just that how you next of coming Are that also So representative those that

Scott Koenig

there in one one Synaffix the we be is the select said is of the continue we've topoisomerase biospace the several. inhibitor. to at the up, can terms toxin So because payload we and This linker What ] of set will look way [ that a and options. first

X, targets evaluating targets the the second topoisomerase The X with payloads other in a beyond forward, not that or to number but [ one not inhibitor. we'll are a toxins use inhibitor will a either going other particular be discuss We're for topoisomerase or position yet but associated the ]. only

Operator

Peter from Our next Lawson question Barclays. with comes

Peter Lawson

Just should from faster than that expect on enroll expected? next why that data year? TAMARACK, how did since half much to see first we in And the

Scott Koenig

well for have any in patients. the [Technical to helping I We with in was their XX study. actually XXX to duo that and than the why doing well in exceeded we're saw color the vobra enthusiasm patients, was more an Europe each great as have the Difficulty] originally and We've It arm. the that rationale I that say Well, with Asia. on And have as investigators that. the the the [indiscernible] very you a opportunity they patients. in can't patients study What U.S. was as included overworked study. here give resonated

data So we to sizable out XXXX. expect come in a fairly of amount

Peter Lawson

any Okay. to why readout this And from nudged details was then half second back 'XX? on of year ADAMX, that

Scott Koenig

completed 'XX. study out, completing The is of the And we'll -- finalizing. in -- they will beginning being part is said, has out report as ImmunoGen

dose As with that the in moving next out of finishing are patients the currently. I've has regard we'll appropriate report that steps first indicated the They to been lung And and part non-small program. identifying the cell with that the one for are challenges in cohort to on year forward. you, the of always

Operator

Tuerkcan Silvan question next Securities. JMP with comes from Our

Silvan Tuerkcan

a second picture from on big and role know and from some on is more and the your HEAT and Can update. that on what cancer. checkpoint BX-HX role SITC its involvement? key presentation as a what's ENA? here is; question prostate I Merck earlier then stage what partnership. what study your the is Maybe And the question. also in related on Congrats But takeaways your Daiichi investigator ESMO more that comment can more the you learn maybe we

Scott Koenig

program. regard we're to Daiichi, the way XXXX cohort the of constructed. partnership X molecule. the ESMO, Daiichi that that poster heightens that see first target only value part think placed in you regard the from we being Vobra duo think on to And was to With Merck specifics all, XXXX encouraged is with did the and data commented our session. relationship have I on presented they deal. that very was I the of a BX-HX as that, includes with for It that value the very So partnership that important that now their

of regard with drug some Enoblituzumab also a this had for on HEAT effective being funding where recall, settings them were X relationship lot they this tested. we of of other that terms about also we're study, PSS close a a They the at Vobra the first a an of rent study, If effects mitigate was dosing PSAXX very is seeing reported in improved duo of about you year neoadjuvant a The months response. well. were additional to activity will cohort it the of our settings a Vobra we more it any always not have seeing.With with With in to good as latter like in and mostly had in very and XX% IST. prostate which 'XX where the proper sits previous that value use with we very duo a opportunities is to we feel, drug.And about side regard lot to again, on again, of than reported.So TAMARACK looking out different a this study see forward to to move in right now. with be data discussions the Having as able come Lorigerlimab collaborative

opportunity other a the have we with in and So they have back regarding forth the conversations the molecules BX-HX -- noble, prostate and the execution constant gene full But cancer. control for data. providing over and

Operator

from Jonathan Our Chang with next Partners. question Leerink comes

Faisal Khurshid

Jonathan. This on is Faisal for

you on setting? right benchmarks So you Vobra congrats TAMARACK the do duo enrolled, kind the guess what for see now know this sort of of I in that enrollment. patients what as you've

Scott Koenig

the data, we or X to rPFS longer here sort hopefully our of that of responses for looking the the months, seeing without obviously have to I problematic and described would some based objective were looking with have range a said would we I again, levels. obviously, we we stay ranges. quarter be data the Well, on how even to when opportunity of drug have a to Nothing so here. we for reported totality the hopefully achieving come in them.With when objective X regard months are looking reported activity is Daiichi with an that have I of XX% regard effects in off absolute to as for just and where given that the these potentially XX% similar these achieve patients for what on on we there rPFS to think program. indicated PSAs. say I we historical which steps we cetera. greater.So rPFS, mean, and will patients range of et look look general PSAXX you as Pavecto the we about will would half longer that both XXXX decisions, those range patients are decide just higher PSAXX Again, with for patients I to with of I previously, from Again, had side those the don't they improved approximately that next And regard responses there -- for to to a were this

Faisal Khurshid

ADC Phase like a And I That's also presented in was recently, data T-cell engager and PSMA data super on there then for helpful. prostate steep cancer.

on thoughts your the you curious Just landscape positioned? assets competitive and see how your

Scott Koenig

Well, opportunities for wonderful I in shape. We're think managing we're actually, patients. the

been the will meetings, select express and identical. one the But of which PSMA tumors, that overlap clearly are spread look has if or They consumers. at of are other. not the various presented there For data parts PSMA BX-HX the ADC, the patterns actual you

BX-HX, drop As patients' to as previously, I tends progress pointed maintained. are significantly that to to where latter PSMA line,

to most in versus that provides having age think treatment I patients. the opportunity improve most older that for regard. we treating, But tumors.With that's and ADC it particularly it again, an greater that platform So point we'll technologies, or ADC the cancer, pans an particular a cancer. PSMA for with to this none program choices importantly, regard regard whole ADC again, of set is most to for going I broad these prostate to but the overwhelming that we again, largely of cases, to great expression across with solid other In see a in to prostate think the BX-HX where are other data see with I limited through not PSMA, patients opportunity with of regard PSMA specificity, But tumors, be for product, to only out. making a was how limits have of in will

Operator

Yigal from Citi. Our next question comes Nochomovitz with

Unknown Analyst

is on on progress. This all Yigal. [indiscernible] Congrats the

couple to interim in be what of and in on an Will any show that so, us Just between rPFS separation color remind powering look share look. interim if quick And trial to arms. of trigger a the ones. what terms Also you're might designed is the able if there LORIKEET? assumptions curious

Scott Koenig

a is likely a there will Difficulty] So futility be LORIKEET [Technical analysis.

We months. should statistics that. population out the I have provided that is rPFS historical not data in has trial point shown chemo-naive multiple X control around But in around

on and milestone So that beat we're that talking this be to able landmark. to

Unknown Analyst

then expansion you as a I the profile one dose in program? side, would complete have then view rate I maybe an as on efficacy acceptable Phase the on for remind see response maybe been of what And Phase you guess, us that II. into And the what move you worthwhile MGDXXX. can in CRS this escalation

Scott Koenig

has study, that out, to a Gilead. Well, know, we as with is as you date this pointed

population bar for Enoblituzumab So the north speak arm. the we like molecule. their were of in Clearly, We them that would to value precursor XX% induction the in I control of this late-line in terms But see study. of we've rates to rates. historically the primary what with seeing of response can't patients described higher the

the intermittent or this think the tolerance we basis the now, kind safety we specific profile profile, to retention.With and both regard reduced well CRS and that As absence as dosing in markedly get ability for as an it and intently would decision clearly the on a reduced to have to that limiting is basis on of But think and patients. and low-grade be, use this make early in their later based profile line Gilead would late the CRS expectations. dosing line on dosing again, both allows initial I a not that favorable a

Unknown Analyst

that so, if wondering than on partnerships, the -- maybe rather you more And just rather Phase entertain of you duo. received rather when Or Vobra do would a then very level. if potential partnerships me, just sooner We're inbounds is III? one a with you for around last later. something And would for lot that be high sooner

Scott Koenig

described encouraging in So pharma point our biotech we about companies. many, was would the making tumors treat MacroGenics different the large further we getting that we, engage study the to here very both partnerships. have many to discussions with before ourselves. had Vobra for we've I did them What duo in in potential to Back historically efficacy and is answer additional because interest as TAMARACK Vobra data is companies, is on many duo something earlier of discussions the

prostate time, has appropriate envision in a but the would would only iterate with which partner who I continue at capabilities it other us. so and the opportunity the support not And aerosols cancer resources if development types both along well expand to in as to tumor with

Operator

Our next Stifel. Willey Stephen with from comes question

Stephen Willey

target a things? antigens is be that novel of to this and But the competitive more that target half of I out the of guess first the soon. selecting disclosing not you kind kind of year, expect Maybe is that I landscape next quick the bit maybe risk considering fall one something on thing into next you're ADCs going into target we differentiated next-gen highly this antigens you of step are seen clinic? a curve anytime how to when guess for far we've antigens And declare know Scott, And kind you're tethering you or just candidate, ADC across on are thinking And this round philosophically willing a buckets be the payload about the ADC to unique? how the should little put just for these of you wondering going to the efforts. I linker to first

Scott Koenig

to want X in put that and With we what a molecules due clearly of for not [indiscernible] the is, degree, ability pursued, the ] regard very the the competition of nowhere to validated given what own favorable say, targets, and opportunities close Difficulty] lots in of tested. aspects believe where that to competitive. but linker showing both. platform, There's in novel the could cases disappointing, the Steve specific or targets superior of we where regard be is various particular mixture to our as see we configurations preclinical this payloads. feel with is that this. shown products [indiscernible] pursuing.And been targets well I in pleased markets there have be DAR the of which some case, [ using in the market, to [Technical that to Clearly, and necessarily been think [indiscernible] data exatecan already a Synaffix can a lot has have design what approved be is some of thoughtful have scanty are in you'll as to be both there's selection selection I the the we would We some any but described data of we

right think I pace able presentations at a going the these first of on an of I we have basis. or at in new a be will where half later targets look meetings.And first on on the to then X And 'XX, more at you months, a some see are longer we'll scientific team pushing over annual targets. 'XX the slightly the next or and So to we're adding that these IND quite now is of the certainly think favorable be

because other for the of out has with importance linker organic point their that but to would the should So capital, using both partnerships provide they also partnerships non-dilutive in for going there.I growth bringing that also are toxins. Synaffix also opportunities companies, given opportunity

our of later a value early having for ] [ stage this and other more encouragement lot So that molecules the give own [indiscernible]. will well -- as year of from as validation X

Operator

turn like [Operator further over at remarks. Instructions] any for not And to I'm time. to questions the this any Scott back call I'd closing showing

Scott Koenig

We operator, preclinical and you Well, a look hope on have for today. I thank thank all clinical day. you, ones. joining updates good and you forward XXXX, both in providing our to

Operator

today's presentation. Ladies this conclude and gentlemen, does

have may You wonderful a And day. disconnect. now

MacroGenics (MGNX) 6 Nov 232023 Q3 Earnings call transcript