MRSN - Earnings call transcript Q1 2021 | Mersana Therapeutics, Inc.

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Ladies and gentlemen, thank you for standing by. And welcome to Mersana’s First Quarter 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] I would now like to hand the conference over to your speaker host, Sarah Carmody. ahead. Go

Sarah Carmody

which to a XXXX first for will of press results website. business prepared Welcome today call. quarter our today’s first on After Media and issued covered the section available open Q&A. we release updates, Investors call Mersana’s will afternoon. A we on conference quarter call Earlier financial this be Good call. be the replay & will remarks, reviewing our our of

XXXX, the to like statements beliefs of product I’d all. company’s and implementation on there including our subsequent completed company’s may the of filings. cause begin, new and that and of results identifications, that be the the product company’s platforms our on clinical securities clinical be currently inconclusive may ongoing product results forward-looking to studies, without we testing discussed Before on of success in testing risks filings, or the end XX, or or and significance, are and associated facts contain may will meet to the of clinical safety not and mention on with Form risks on information initiated clinical more early may uncertainties limitation, later of and These endpoints available. within company’s or cost we of longer are federal that the management’s call and including the -- than not are with or with our will studies planned events candidates. of based historical meaning concerns vary or our candidates They February or studies filed results clinical our results could adverse report statistical the respect risks the preclinical actual assumptions our candidates, and/or efficacy to That not and schedule preclinical XX-K annual development that be if materially, at are may laws. that These statements not ongoing future subject take the or plans the predictive SEC be that

the in requirements obligation globally physical competence COVID-XX and publicly, the statements addition, development disease. distancing affect that no countries, over adversely efforts, of the looking available call company’s becomes law of and forward Protopapas, future for these the market to in the Except and if business update we ultimate clinical as developments by and future. taken company will uncertain the such to quarantine, new time, other expect and Anna company’s financial Chief to business assumes and results, extent And pandemic, the contain I’ll closure Officer. on restrictions, even preclinical the of might highly duration operations the pandemic of with and that the travel depend and operations the at with effectiveness U.S. required on stock the In Executive value the treat and that, in President while cannot the be as company’s information actions are this the turn Mersana’s impact predicted the

Anna Protopapas

welcome our first XXXX Sarah. and And to afternoon, update financial Thank quarter Good corporate you, everyone. call.

questions, Arvin VP I’m including joined joined are Medical Officer; and of newest the DeSchuytner, in Strategy. remarks Product for also Finance your Lowinger, and Carvajal, Legal Chief Chief Alejandra prepared with executive our who the Senior will Technology Tim Science us be today rest Officer, me April. the member by of Joining Yang, Brian Chief available and who team Officer; our

high The medical and expansion the rate important platforms. focuses we of is including consistent ocular other approximately and January, for in Johnson. recently, the ovarian both through acquisition and relationship, Momenta of working Phase functionally. a restructuring respect clear Alejandra UpRi therapeutic to experience Johnson introduce and biotech Legal building bring of Chief the the work probability that in and in from heavily disclose activity The with demonstrated of legal brings & leads our have take cancer, acute and by for pleasure various Alejandra have further severe and dosing. welcome XX where ovarian to cross building successful Michael want her as led I by leadership need company’s years pharmaceutical she start, toxicities served we operations with opportunity who patient we registration the Alejandra. demonstrated legal Most to ability patients companies, responses seen Before With increasing portion data step to Brian, Pharmaceuticals, profile the differentiation of in our on standard-of-care, and options. important beginning informed Officer also April, which the cancer initiated in I with the of ovarian with progress we’ve to XX% feedback. need. to in our with success. label Alejandra excited cancer a FDA the new the me substantially pretreated foundational I work addressing ADC Pharmaceuticals Since living UPLIFT, tolerability complete ADC the have the update. in and UpRi at unmet on now an very pipeline have innovative confident current we endeavors single-arm again. UpRi strategy to Millennium showed announced efforts important out the This to response and year, to areas in study above both UPLIFT design the building and impact am of have UpRi, In Welcome without UpRi, Alejandra. the heavily the data medicine a of her an next milestone potential she I’ll will biomarker with the made as the move we’re build pretreated response of robust business candidates, X a to a opportunity of neuropathy of of Mersana. positive neutropenia, to patients on treatment had in

biomarker As in more cohort, a space a bevacizumab of upcoming patient the evaluate no of UPLIFT shots high the observed prior enrolling flexible patients enrolling consistent a in UPLIFT virtual the is fully goal there a endpoint lines, NaPiXb with label to two broader in role regardless in and for ASCO in more other expansion plan prior progress endpoint consistent the trial on study. By we at studies secondary neuropathy. is NaPiXb us meeting of present the enriching with allowing for primary the exclusion poster treatment the in patient population where population, design inclusion in a outcomes. the to bevacizumab baseline expression, overall also with of detailing that We reminder, the the peripheral this June, and activity population UPLIFT offers

path. multiyear work clinical terms In and expected UPLIFT diagnostic stage provided the role development work, addition commercial program, update with its Through encompassing at diagnostic tandem and we predictiveness the reproducibility. and development robustness, final the is development in result have on optimal this NaPiXb of also of UpRi. advanced research, translational diagnostic we of in initiating designed UPLIFT, in we an selection the our assay of a to each cutoff, an its biomarker The the believe of

is response, XXX high or H an this When evaluated you perform. XX%, for greater can cancer by XX% rate enriches that derived data to back but have based the that patients as same shown NaPiXb expansion enriched straightforward than methodology of we the that we as more an enriches of the just at in score overall for we TPS score previously same to TPS on a overall relative January, be cutoff, to H while from showed have which looked equal values FDA the response demonstrated demonstrated response expansion well will TPS contribute in ovarian we Score data XX score Tumor operationally set we Importantly, and be the also cohort or Proportion validate need response the -- are total that define comparable rate results we we population of will our predictable threshold in use to predefined of H where our that we proof-of-concept commercial UpRi XX% dire options. assay. therapeutic XX% In developed and pass, that the by able look reproducible in NaPiXb from belief that and proposed have UPLIFT, population. design results that the patients the to These summary, is all we high assay will will to-date. informed are to feedback strong deliver data to have UPLIFT the of to the TPS the

third study, finding made preparing we for the a first progress the Finally, UpRi, lines establish in cohort to bringing we therapy, as umbrella approximately second study, believe a to quarter early we’re UPGRADE in patients Arvin enroll to to medicine a discuss step as will it foundational building the still pipeline, of of patients of experience At year. preclinical remain reach potency. will the XX exploration adenocarcinoma enrolling the time, expansion UpRi continues this of to half to and the in goal report in UPGRADE seek but UpRi study we’ve in greater initiation the this doses to of of this believe same patients data track for in this is ovarian the validate the to XMT-XXXX the With and using cancer. moment, XX year. phase track initiate out on on we our respect to planned in year we design of in clinical the of lung

further doing of dose interim We schedule. second have the data MTD exceeded are plan year. and disclose exploration the to of half and the We in

Immunosynthen next the continued at in BX-HX preclinical with virtual the have our which In first April, ADC highlighting presented two we IND-enabling earlier XXXX. our data, STING-agonist conference, and for of will initiating shortly. advance programs AACR team XMT-XXXX, candidates, both potential our ADC through clinical XMT-XXXX, we studies Dolasynthen review studies the Finally, early goal to stage

fighting we programs progress the forward points UPLIFT, our make UPGRADE and us As will make of overarching to earlier, ADC turn the that, call providing continue mission UPGRADE for the closer ovarian bringing on pipeline, of develop to important in With design to of the for even multiple each inflection the I for progress cancer. to UpRi value across and ADC’s reaching stated changing rest patients potential our cancer. discuss continuing life to to study and to Arvin over I look our

Arvin Yang

thank and joining for Thank us everyone today. you, you Anna,

assess first also and role X doubling class or evaluate this neutropenia deeply We and complete platforms main the UpRi portion have escalation neuropathy safety back disease. this administration expect seen space UpRi therapies UpRi dose every determine concerning with dose administration week of failed cycles will and retrospective step the we for the in to have expression. UpRi maximum sensitive to benefit ADC for other four-week in therapy this of combination approximately open tissue including we where carboplatin could Patients intend by serous to established study Today dose umbrella the to who with cancer required continued But high Upon peripheral year. and patients from designed of of initiate with what monotherapy ovarian in platinum-based patients be results of in with heavily to patients have six including monotherapy as by in ovarian tolerability how a UpRI, study the for This for beyond feasibility prior paclitaxel through of stage they plans. X sensitive, be events events, regimens. line an what tripling who of the with disease of expansion be PARP and QX combination their patient UpRi ovarian well NaPiXb as an we’ve with grade why inhibitors. tolerated inform adverse in plan patients is to expression, could is as and we other archival anti-tubulin ovarian in patients study the achievable benefiting of UPGRADE alopecia. in platinum, escalation will patients then both combination by in next life and we’ve portion envision and in limited the take to will UpRi earlier six us combine be positive portion efficacy Let’s are not that the in and stages and or the so earlier cancer of our the therapy with refractory third cycles in initiate Stage of provide are explore currently we’re monotherapy encouraged Phase completion number proof-of-concept sensitive received pre-selected UpRI recap Anti-tubulin combination the dosing patients platinum label but and responses quarter cycle alone. as to a will carboplatin well space. then and with carboplatin been therapy, cancer cancer continuing ovarian order two one as will XX with platinum fresh for severe continued UPLIFT by study, steps. demonstrated like and platinum cancer bevacizumab is to UpRi This earlier in assessment platinum

Finally, we what mean positive for patients. NaPiXb this are for excited could biomarker

unmet In allows a future, In advantage profile that benefit us as severe terms peripheral to look include differentiated the getting limit patients therapy. those the forward evaluate bevacizumab, study and need addition, UpRi umbrella a a its ADC from We therapies. liposomal for underway. provides significant and there combination do of without the platinum. immuno-oncology tolerability other study platforms combination potential doxorubicin, We this is believe higher combinations toxicity to ocular non-platinum-based that in combinations. neutropenia, neuropathy Future could not this PARP inhibitors also who with

into with can the Importantly, of call discuss early could and from cancer therapy ADC their significantly that candidates. now Tim disease. moving the impact will over of number could UpRi I to stage time benefit UpRi lines the exciting our earlier expand which to duration we turn ovarian of patients

Tim Lowinger

a in on Arvin, that which well profile, Dolasynthen expressed advancing BX-HX IND-enabling XMT-XXXX, function. everyone. BX-HX for track we its Based and good high multiple need, both focus breast, the our including studies, preclinical Today, medical promising ADC, have Dolasynthen XXXX. the data of types ovarian. tumor ADC pleased three as is Thanks, on and DolaLock afternoon, virtual and its were expression our to on endometrial of shown due unmet unmet in e-posters. XMT-XXXX. to to describe death a immunogenic encouraging against in as as to opportunity tumor both immune HERX with the the effect. to and manner early ADC the well matched first our in as storm is anti-tubulin STING-agonist are meeting with programs co-expression DARs to demonstrated BX-HX well additional the encouraging leads tumor ADC payload response candidate cytotoxic antitumor In as versus different at will superior we and cell comes co-op Immunosynthen I ADCs. leading model of to immunogenic a XMT-XXXX, dendritic on microenvironment. other tumor both remain tumor believe AACR and doses progress is our enter studies BX-HX a that that our target checkpoint breast expressed philosophy clinic through for showed provides cells addition at contribute DolaLock multiple we opportunity start we efficacy BX-HX form to an showed preclinical as together who development associated potential payload in share what for as I’ll microenvironment, these direct that and those on cells, ADC, can cancer activate when potential all not suggest a macrophages patients Because on the April, or immunosuppressive in Dolasynthen At a AACR, platforms, BX-HX negative with XMT-XXXX create the These medical and triple-negative lack model, we it’s ER to consistent tumors BX-HX further not ADC either positive robust in further size do macrophages, XMT-XXXX. and one in fits it supports of breast to of potential the an perfect respond breast of preclinical in need and PD-LX effects representing targeted inhibitors to vivo activity and with it cancer address data, cytotoxic

Moving Immunosynthen. on to

the highlighting AACR. of presented STING data XMT-XXXX mechanism action also posters at We and two

can the the hypothesis ImmunoSynthen STING-agonist the of of showed and limitations immune of punch therapeutic XMT-XXXX cells, in current that tumor poster the targeted one-two the overcome of delivering tumor-targeted activity tumor Antitumor improved STING resident first to supporting the STING enabling both a approaches, the free with activation increase therapeutic agonist involves with preclinical IV a STING cells index. over ADCs to delivery a tumor potential pathway efficacy tolerability Our agonist. data and

the would cancer contrast, media, More example, approach of the be not while killing studies ADC key in do cancer blocking cues preclinical our for activate approaches, to page the Immunosynthen do role cell intrinsic monoculture cancer other immune condition Immunosynthen cell interferon in vitro induction respond that to be All Our between second cells. approaches ADCs lines pathway cancer activation. responses, immune standard interferon related In studies STING website. the in in of are III most inhibits immune are a one STING-agonist of activated the important results differentiators interferons key of and innate presence III in not suggesting to presence STING the TLR Type available same expressed show our immune agonist STING-agonist publications to cells STING agonism the the production by conditions, in downstream cytokines Type in This tumor pointing on cell and TLRs ADC III pathway cells. can these induced focused poster from cells. ImmunoSynthen vitro in on the and treatment, of potentially of in for activation that Type STING posters cell that detailed revealed of that tumor as three in STING antitumor

medical overview XMT-XXXX over types. advance the We have are financial turn these which need With to development multiple results. I’ll XMP-XXXX, tumor that, across of both further data agents, for an these working unmet clinical call our support and to Brian and of diligently to different potential believe of the address the

Brian DeSchuytner

from $XX some with of our review We results. quarter Good us. used million operating you, first XXXX in the will with $XXX position. you key and was everyone, in first cash the Tim. the cash thank cash cash of afternoon, first joining start and XXXX ended equivalents. Net highlights financial quarter activities in now million. our I Thank I’ll for quarter

our In year. current last in draw debt of financing have agreement cash with August Valley Silicon to the we position, option refinanced addition to Bank the through funds

current to $X.X and an XXXX. million due financial to of meet Net primarily million, per and or $X.X difference for $X.XX clinical and discovery stage research our regulatory awards were general an manufacturing, to for and to approximately the XXXX for respectively. stock-based loss the available XX, headcount. common key the the XXXX and We per increase first and XMT-XXXX first years. the that allow a these and to to million manufacturing same an in to primarily the our outstanding approximately in the the quarter The approximately period in call expenses two by for XXXX, UpRi the XX, and our for appreciation. were or increased XXXX. administrative quarters period $XX.X $X.X operating net now was in administrative included stock-based expenses, increase turn same first General development from XXXX. back by share in $X.X results. professional first headcount million, expect loss our for were increase of valuation was million, primarily I million in in highlights of $XX.X the of And ended development $XX.X increase million result Research us in primarily result price same of now valuation compared for in funds preclinical The stock price stock-based period quarter will as and some related compared increase Weighted XXXX stock $XX.X due increased $X.XX March approximately commitments a to to stock-based average compensation of and for of expenses and plan quarter as related an appreciation. in will was increase compared shares fees. Non-cash the the increase an activities Non-cash expenses programs XXXX $XX million, in and expense XXXX a of share, Anna. in $XX million included expense consulting these compensation and next million, March awards quarter expenses of

Anna Protopapas

I goals innovative our and ovarian we’re as to Brian. to cancer believe building well-positioned against high our UpRi you, out of execute pipeline the Thank in ADCs treatment of continue need. of of unmet addressing building medicine a areas medical XXXX foundational

of Saturday, groups with I’d I other in for was committed about to cancer Q&A, this opportunity May work to awareness women. take would World Operator that employees medical need their that, Day. I’d to the like ovarian the and women Mersana unmet treatment UpRi with advocacy remains I turn a these also waiting. know significant tireless Xth are ADC outcomes will Unfortunately, options devastating women around we And and Ovarian to limited world over that Before quality who like patients living recognize disease. potential for Q&A. thank mention we this ovarian and many because take Cancer the developing the improving life-changing the this therapies, to are for through families to life their like cancer, past there call and survivors, promoting With patient the

Operator

you. [Operator our And is Chang SVB Jonathan coming line first question the of with Leerink. from Instructions] Thank

Your line is open.

Jonathan Chang

taking my questions. for Thanks Hi.

your the the potential to-date? should clinical be forward with experience about First thinking moving question, COVID-XX cancer much And recent we how impact has of ovarian UPLIFT? how UpRi impacted trial initiation

Anna Protopapas

forward to amendment our recruitment in the enrollment on -- momentum expansion optimism features seen you for to we very think we able as And an We’ve those will UPLIFT, further that, we’re has contribute robust enrollment expansion to I provide think for design also could and believe expansion existing we -- we’ve UPLIFT because, UPLIFT some and will well been to-date we we we in is we positioned thanks that question. enrollment the UPLIFT guidance that as on seen an UPLIFT. be that have in the cohort cohort. believe about Jonathan, carry the but cohort fortunate to said, know, have

NaPiXb do biomarker. patients for As not you an it’s We require selection of amendment. know,

up four inclusion patients lines have therapy. of to broad We including criteria

to patients group with was baseline similar excluding the the with peripheral and population, GOG being cooperative in are what important being ENGOT group cohort. expansion a And in U.S. who patient not the the EU. cooperative the partnered very neuropathy, equally in GOG We and are ENGOT.

will that see quite enrollment So expansion cohort. optimistic are the robust to we continue we seen we as have a in

get we’ll -- as definitive with able feel give with further we ahead we what UPLIFT, guidance. be the this course, Of point, are. to where good more -- at pretty about we But

Jonathan Chang

Got UpRi in it. Thank second help expectations set second XMT-XXXX the the investor and you can for you. And half? question, lung expected cancer readouts

Anna Protopapas

Yeah.

So group to in of we data. in lower have at one-third in it that have and than lung defined half able did XX are NaPiXb disclose is we’ll on year. UpRi track ovarian of as adenocarcinoma with the to the high to enroll disclosed unselected cancer NaPiXb cohort. that the earlier outpatient But high ovarian, be second prevalence in patients call patients we XX patients will to lung the of adenocarcinoma about that XX and the is the indicate about an data the are We XX

to year. half XX data the In are escalation XMT-XXXX, of terms disclose dose also in we in the track second on of -- the

As the of be able I data to exploration have that MTD are the comprehensive and call, and escalation half in data, second exceeded dose on update in now the mentioned disclose the dose year. a on we’ll we

Jonathan Chang

for it. taking the Got Thanks questions.

Operator

our coming Shrader the from of line is And question with next Tom BTIG.

Your open. line is

Unidentified Analyst

between maybe not of that any defining expression it Thanks questions. there any if have response? of role Genentech ADC duration one first the taking Tom. for NaPiXb that, shown or plays our on based relation Are response. expression for and Carry regarding studies My changes Ari preclinical is NaPiXb durability And level post-treatment? in whether [ph] or is clinical, This

Anna Protopapas

like take would Arvin, that? to you

Arvin Yang

for question. you the Thank Sure.

let if break or lines question NaPiXb within different relationship to that expression So evidence first, regards to first, in treatment based of just of upon in me therapy. down any there’s changes

levels about well fresh expression, regards banks, what our to in we’ve a is samples so of prior at could fresh consistency relationship in in tissue. consistent is to see levels it’s as versus of pull-through in looked in archival In life tissue. earlier meaning higher anticipation the And versus of our think cycle question do to we be we have relationship And the regards we patient prevalence that the as lines duration to in as archival regards if regards a concorded to the tissue be in that regards than response. of the that expressor to do expression to can their UpRi, of tumor this a second And level. therapy

XX% expression. the first data we’ve We seen our me Let greater rate enrichment ORR XX% response to in res NaPiXb remind lower relative cutoff overall expansion increased of you a shared, we’ve -- an population of seen previously upon objective that cohort XX%. with that based TPS that approximately in to saw total and enrichment than the XX% in the

objective In duration for number sizes, patients sample of small there regards the recognizing appear responses, of is the populations consistent lower. however, lower NaPiXb relatively and that they upon of we NaPiXb durations we potential of responses. had versus NaPiXb based have that were enrichment of Again, limited whether rates. do So response, response to higher objective be two do this patients a to -- in see

Unidentified Analyst

one the study, study? share And elaborate the UPGRADE platinum pivotal Can for if of possibility patients you prior can the bev you on criteria. you Got and thoughts bevacizumab have it. the the to your of to setting in in naive that Avastin in combination on with therapies roll-off exclusion adding two your

Anna Protopapas

that? you Arvin, take to want do

Arvin Yang

Thank you. Absolutely. Yeah.

what in it’s criteria, label bevacizumab the is. with bevacizumab to regards consistent in eligibility So the

with ovarian so two And per for required is regards label to prior cancer one bevacizumab lines in to of patients or is indicated therapy.

to four those indicated patients three on is therapy. in it However, not lines prior of

that one Recognizing what have to criteria. with is in XX% large so been be comprehensive our our just we our indication and we’ve upon able is. proportion what bevacizumab from achieve a the have order label a being study in patients, in to then do cohort, based in therapy broader of consistent eligibility expansion And regards to so bevacizumab did prior

the to potential Now to in in regards to the combine second regards bevacizumab. with question,

UPGRADE described earlier platinum with I’ve is the a we lines first carboplatin in relationship foundational are our earlier combining therapy. in to because of it relationship to therapy, in As study, regimen

in we UPGRADE an study be or thinking an different even whether As be combination, as can of they immuno-oncology are agent. bevacizumab, umbrella they non-platinum there relationship multiple think a multiple whether where cohorts a PARP regimens, to inhibitor further added, be we

Unidentified Analyst

the maybe last non-small helpful. That’s And for cell cancer. lung one

think So tubulin your for of these impact chemotherapies think used ADCs there. efficacy can Do often tubulin any type you targeting of yours that you inhibitor, thoughts patients. or the different is are a

Anna Protopapas

I to think think, that, will guide instead to XX I half will expansion patients. include would our disclose we I of second to data said, you I where cohort the year of able be as XX the speculating,

Unidentified Analyst

progress. and on Thanks, congrats Great. the

Anna Protopapas

Thanks.

Operator

And the Fye JPMorgan. question is with from Jessica coming next line of our

open. line Your is

Daniel McElligott

Hi. This for you Thank for much question. our Jessica. Daniel McElligott taking very is

previously UpRi or was you new for XX% one, months five greater approximately record for duration of What First TPS of the diagnostic high under the in using than disclosed expressors methodology? duration diagnostic methodology. expressors the of old response in high response UpRi

Anna Protopapas

done It Arvin, correct? does is change. not that that. could have You

Arvin Yang

right. you, right. Anna. Thank That’s That’s

actually, of TPS, webinar So, the there’s to the Daniel, you’ll number same relationship responders when you look the see responders there. at our that

change, not the does response of responders. duration looks at only because the So it

Daniel McElligott

us cohort cohort Okay. to the for And UPLIFT? the moving elaborate you the can then dynamics cancer for lung expansion Got it. lung, enrollment maybe the and

Anna Protopapas

Can I’m you do clarify? mean you sorry, with what enrollment?

Daniel McElligott

what and of been is… pull has much cancer taken ovarian enrollment understand have kind and the the to seems than push how longer It and cohort

Anna Protopapas

Yeah. question. the for Thanks

of sites be were disclose last a COVID. These we enrollers. in there think we were sites initiating sites we certain Australia, some our priors and on lung that did result them were then That’s year, where to to delayed behind delays COVID, us counting were that that in primary were of as I now. really

behind I we think challenges to that we’re -- and patients XX able been on recruit to overcome those the or delays are We’ve XX targeting. track last us. are those faced year

Daniel McElligott

provide the XMT-XXXX that algorithm Makes and exploration for from on schedules us then dose doses Okay. escalation year. for And some can of color the sense. utilized and further your of dose escalation study you strategy

Anna Protopapas

and discipline rather details. us to dose I data This that to say get would be parts disclose want share can able data of the data investors year. track of and we I do half disclosures in second we’ll really the comprehensive set. I more escalation rather into very than is study that a meaningful really think and remain the on are don’t typical to share

Daniel McElligott

you Okay. pre my call one question. the data MTD And maybe thank on much in XMT-XXXX. XMT-XXXX all making are you Can generate before Great. taking last lung? a to and on advance how for achieved of for With And remind you want us questions. asset to

Anna Protopapas

robust decisions. making I want Yeah. I driven data be to -- again, think, we

the the I profile, an of -- next that dose will is. appropriate terms regimen. signs We’ll escalation and what really step exposure. efficacy And understanding safety of understanding guide We’ll the think, understanding of dose XMT-XXXX, have we have us obviously, the an of data that In totality have for of of optimal MTD. the an early as would to

Daniel McElligott

Great. Thank you much. very

Operator

Peaker Cowen. [Operator with Instructions] the And of coming our from next line Boris is question

line is open. Your

Boris Peaker

in today, enrollment of Immunogen pace the the the on initially study impact. readout to announced delay COVID-XX maybe is the question Earlier UPLIFT study. pivotal due My ovarian in Great.

impact to enrollment? Just of seeing timeline estimated any if curious you’re your compared to see

Anna Protopapas

sites excitement the streamlining that we’re So in to help that and study, with from closure from the we I some know, as expect we’ve had UPLIFT, course, cohort we from enrollment think portion UPLIFT, able only can’t those of expansion we’ll and leverage that GOG the convert expansion design support we’ve the converting you in I said to of bringing can we And at tell I the the sites you as getting be comment we’re ENGOT. the we could expansion to on as UPLIFT. the believe are does robust provide we’ve cohort of and enrollment. for to with investigators, beginning but UPLIFT. the past, of encouraged Obviously, seen quite we’re which,

not are we So selecting.

We criteria. broad inclusion have

We are neuropathy. underlying patients excluding with not

factors for UPLIFT. will So Again, our us starting all we goals we’re hope just allow really of achieve to UPLIFT. these enrollment though,

for guidance we enrollment our in So once a study. little more able targets the are ahead we’ll further be definitive give to

Boris Peaker

Great. my for question. Thank you very much taking

Operator

coming of Colleen is from next Kusy Baird. our the And with question line

Your line is open.

Benjamin Kallo

name Hello. Colleen. Benjamin for so is our you Thank I’m taking question. My Kallo. for on much

And what you also maybe are the to what diagnostic? then completely like? touch diagnostic, the the validate could look For the steps on timelines next

Anna Protopapas

Arvin, this? want to do take you

Arvin Yang

for Ben, Anna. the regards Thanks, diagnostics. question the Thanks, Yeah. the to No. in timelines for

We’ve the really let started in years actually with first a me which when strategy first the with So that. had initiated we robust as relationship diagnostic, start developing -- ago development. UpRi

So it’s on parallel entire really this been in process.

and And for of relationship identification patients. the so what ago, the cutoff had the higher we earlier is lower going the to our this NaPiXb year, to declaring actually, month about webinar be a

commercial announced. not in the And potential to so but that, was only relationship diagnostic diagnostic

cutoff utilized preselecting And patients be we’re the lower all pivotal reminder, higher enrolling well of so or as patients. assay, will applied as And diagnostic strategy both a and a two not for our and in NaPiXb so shot goal UPLIFT. on that’s that as

will question as the or the diagnostic a determined steps in then be And specifically be diagnostic they assay. well prospective, next getting so in low. retrospective then would on. analysis speak we far And This validate that your addressing utilizing itself. to as those high efficiency that, of as obviously And the assay the the to cutoff, patients will is as

higher potential be patients or order scenario complement with the be using enriched be a diagnostic a those eligible a for indicated UpRi potential to status diagnostic whereby validate be would outcome us to a as able would potentially UPLIFT having of complementary diagnostic broad available regards So a complementary it to the cutoff and companion population, with to treatment only where in or would in in diagnostic, then a having cohort, activity in UpRi. NaPiXb the lead a but either we’ll

validation our paths relationship diagnostic the speaks to that to next potential the assay. so of in And commercial

Benjamin Kallo

you you then Thank bit the comment Do the non-exclusively incredibly That’s much. to work Wonderful. partner. might or diagnostic there helpful. agreement a And have companies are the with the agreement be so multiple little potential to able on diagnostic? of on development with you able exclusive you an

Anna Protopapas

a these to machines do stage. of broad working Arvin. to a with installed base exclusive. this, been to with is the take however, program develop we’ve not years world several Leica, for this them to that and bring relationship, working The has company I’ll We’ve Maybe been tests all the over

could future, point further, But So point some bring we’ve we wanted to and we the infrastructure. program do because this in Leica relationship that. of we had a even global if expand to to broad their selected multiyear at the

Benjamin Kallo

fantastic. Thank much you us. so for That’s elaborating. That’s all from

Operator

this closing further at would I’m And any turn the for any not to like showing time. Protopapas back over questions call remarks. to Anna I now

Anna Protopapas

progress UpRi to afternoon. this made thank us advancing of in with joining want of the be of you UPLIFT QX significant We’ve for just UPGRADE. soon initiation all in the I and to initiation

and lung, first-in-class also in UpRi new We’re studies. our molecules advancing with significant XMT-XXXX in making two progress the IND-enabling pipeline in

we the So for Thanks Thanks. in we look our position calls. and this to for achieve updating important forward an future goals for on and joining company are XXXX. track you year to

Operator

Thank and Ladies that gentlemen, conclude for does conference for our your today. participation. you

You may now disconnect.

Mersana Therapeutics (MRSN) 11 May 212021 Q1 Earnings call transcript