IMGN - Earnings call transcript Q3 2018

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Operator

Good day, and welcome, everyone, to this ImmunoGen Third Quarter 2018 Financial Results Conference Call. Today's call is being recorded. At this time, for opening remarks and introductions, I would like to turn the call over to Sarah Kiely, Investor Relations and Corporate Communications. Please go ahead.

Sarah Kiely

Good morning, and thank you for joining today's call. a progress that operating and issued of a results. we recent our third today, press includes release summary Earlier quarter XXXX be at immunogen.com. This the and the and section found can Media website press Investors under our recording of the release call of

Officer, today Rich Medical Gregory, the Scientific will Berkenblit; the our our call CEO, team Enyedy; CFO, join Q&A our Chief are On and session. for and our President Mark Chief Anna Johnston. the Dave Officer,

key recent results highlight and During review financial today's will call, quarter accomplishments and third we milestones. upcoming

With will the discussion, statements. call the forward-looking During and investment our actual our Mark. that, results to the over filings. are of differ we uncertainties such I'll use from now ImmunoGen statements, with an in in and turn materially associated risks may included Descriptions SEC

Mark Enyedy

Thank everyone, you, for today. thank joining us you Sarah. morning, and Good

enrollment the during filling the entered commercial point in to stability end substance strategic of drug drug on towards BLA next and stage to ImmunoGen FORWARD included to our necessary objectives. completion platinum-resistant to for parallel, execute operational and market pivotal runs biopharmaceutical support planning patients ovarian to validation have activities With we launch metrics resources drive approval. primary In product In other with study, year to completing integrated product I, testing ahead anticipated with of These end, FORWARD for before and the we uptake cancer. readout prelaunch continue with treat establishing I a initiated ensure the post the moving timely third fully quarter, efforts company. transition the in our required our mirvetuximab a the particular,

platinum-resistant month, anti-PD-X for II as in to from presented combination Merck’s anticipated FORWARD indication, therapy, activity the with and we other combination Last favorable at expansion monotherapy cancers. preferred ESMO. partner mirvetuximab disease cohort Beyond planned position and tolerability anti-tumor KEYTRUDA, and ovarian and encouraging therapy the mirvetuximab we a of

patients received have year results in have KEYTRUDA. with who combination reported With these than data we or in this hand, mirvetuximab latest carboplatin now XXX of more Avastin

at high Our we investigator label these will to We in our from to IMGNXXX expand ADCs, these be IGN multiple expressed data Phase in guide from also novel accepted IMGNXXX enthusiasm programs month, community data and for preclinical next post-recession will oral with both next have I Data has the mirvetuximab were degree meeting. patients presentations at treatment malignancies. from XXX hematological also input combinations, the and the for of ASH, been use a and steps during our their mirvetuximab and settings. presented evaluating of

our are progress beyond clinical assets, portfolio. with our rapid making Looking we research

program a initiated lung, solid ADC We cell we cancers, IMGCXXX, the IND-enabling of into that expect and this ADAMX developed advance negative triple is in MacroGenics. range activities have with our non-small to collaboration expressed next candidate being clinic. product for we on be gastric the including tumors, breast, ADAMX-targeting novel pancreatic program and

Antibody on targets expression. advances. of tissue to We with normal look selection to cell Congress our presented which October. EpCAM-targeting PROBODY technology, Probody at European in due it the high more sharing thought molecule, EpCAM-targeting in conjugate ADC to be data development we addition, In previously drug CytomX's to epithelial This the details integrated preclinical forward PDC, program relating adhesion compatible this enables as

detail. With turn Anna? that, call progress an exciting as significant I’ll business evolution in in quarter, of readout to clinical Anna XXXX. first in last ImmunoGen's our prepare for over and to the the the half the moment So progress over with review we pivotal our more

Anna Berkenblit

you, Thank Mark.

expand in market for agent our ovarian cancer, the mirvetuximab platinum-resistant as to bringing population we evaluating objective cancer. eligible primary therapy In for patient addition regimens move treatment mirvetuximab of study mirvetuximab are our lines into earlier with of to women ovarian combination single a FORWARD and II to

of platinum-resistant with IbX FORWARD Phase is cancer. mirvetuximab in our receptor combination alpha positive ovarian II Avastin reminder, patients or a As study with KEYTRUDA, folate in

As also end evaluating with of cohort combination II, We're mid-XXXX. we are a with at plus in this the Avastin results, further ASCO, activity excellent in promising to XX with evaluate mirvetuximab data year combination ovarian carboplatin in a this enrolling platinum-sensitive we in and cohort Earlier encouraging the with by of Avastin Avastin cohort cohort recurrent Based II planning FORWARD recurrent FORWARD demonstrating the ovarian in triplet complete plus patients initiate to the on making ovarian reported folate new cancer. progress part with patients of with in patients expect and data cancer. platinum we initial alpha cancer. triplet resistant mirvetuximab are mirvetuximab over cohort the study enrollment year, from of receptor these expansion positive expansion to

at response quite recently, benefit The prolong presented We XX%, October, those of II combination cohort for patients anti-tumor encouraging of open we the this respond, of from ADC contaminant the around in in the patients and later-line expect the through immune goal durable. safety data ESMO who much cohort to activity is XX% haven't ovarian system. be to the as can quarter monotherapy inhibitors first activation cancer do FORWARD of KEYTRUDA. Most the in initial with expansion this evaluation rates preliminary mirvetuximab done but this XXXX. response assessing in to with Checkpoint clinical

Notably, XX% platinum-resistant folate findings in target if observed combinations that below with is KEYTRUDA, continues patients pretreated to observed pretreated profiles cancer. ovarian XX%. for compared date cancer emerged be pretreated anything published FORWARD encouraging the the experienced receptor population less of other harness where response showed response KEYTRUDA alpha KEYTRUDA ovarian heavily evaluated combination in mirvetuximab outcomes mirvetuximab known treatment with longer patients more in response a in also is broader clinical lesions to cancer heavily or alone rate of in recorded favorable KEYTRUDA and plus would the ovarian the patients, combination The in to this reductions rates with was There each expressions. pretreated with maybe high tolerability been the So with response agent. to with confirmed of experience considering medium here and favorably plus expected heavily platinum-resistant that suggestion response in a initial see of activity mirvetuximab have other combinations monotherapy the to mirvetuximab like safety what duration with patients anti-tumor The in to reported addition the that overall robust heavily II shrinkage when patients mirvetuximab the this consistent Initial based demonstrate platinum-resistant durability of to platinum-resistant consistent for with the as KEYTRUDA KEYTRUDA than of population. and of response in idea tumor response. activity

this we our We data cohort development to updated data As from in preferred guide ovarian combination forward sharing of as to part this use of continues to cohort mature, combination broader look strategy cancer. the therapy armature. when will it further this novel as to data establish mirvetuximab the from

agent track of II, Phase trial the mirvetuximab readout remain a registration cancer for half In single platinum-resistant FORWARD XXXX. from first III on will topline the we of ovarian in I addition our as to FORWARD for

medium which combine the As displace as as encouraging in in mirvetuximab and study folate of expression. consistent FORWARD with survival treatment with receptor folate includes facilitating well safety chemotherapy has the as alpha high studies potential setting the high endpoint patients in to and additional primary expansion we the a well believe both clinical to in observed and platinum-resistant treatment Based that setting. profiles in activity the a I agents progression-free to label patients also is multiple with receptor in reminder, on date, and expression, single-agent population, alpha subset the entire

finding our from finding have oral to now ADCs, first initial in Turning ASH, study cell from of clinical month, AML, leukemia, plasmacytoid IGN AML with IMGNXXX positive CDXX the at from and new targeting CDXXX dose we patients next or assets our BPDCN. and with or IMGNXXX our myeloid IMGNXXX our one I targeting of Phase one IMGNXXX dose him-focused second study presentations, the acute are blastic data two and dendritic will neoplasm, pipeline. I Phase

or seen damage. that drug to class alkylate a tumor crosslink, of example, IGNs easier to have are damage of hematologic We've have for of in as preclinically status ability our a AML, DNA-acting ASH strand to a developing. DNA, FDA of therefore demonstrated better updating recently for encouraged And that IMIGNXXX next for forward repeat look are IGNs orphan reminder, because dose novel cells potential active as we of are killing malignancies, granted DNA-acting this it the other a is and thus IMGNXXX, one As is higher. believe payloads window, therapeutic terms dose that with repair at range by we potential IMGNXXX and in and the the to they But we are far programs agents treatment the these PBDs. cell to there strong you month. what and for We normal

Dave, Now, financials. to call the review I’ll our turn over to

Dave Johnston

Thanks, Anna.

which XXXX. Operating Our were for which this $XX $XX.X in royalty. quarter quarter noncash a $XXX ended which third just that the Revenues of fund the we in beyond operations approximately expect included the in million, largely in readout, approximately least We trial press year clinical with in first FORWARD pre-commercial mirvetuximab financial million, third related highlights. top so to morning's third the driven results cash costs R&D expected expenses the to cash expenses were activities. Kadcyla $XX million were and by I detailed in were the approximately quarter line were the our release, which half equivalents, review at I’ll million is

remains result $XXX and be of revenue million. has impact We end $XXX equivalents in our revenue cash at and to expect updated which have revenues we and and million. Guidance we million cash $XX to $XX as unchanged $XXX XXXX projected guidance for million, and expect XXXX. on and $XXX between million to our be expect We be year runway. This expenses, cash now cash between that change no now a operating licensing between

financial to is objective, our market. mirvetuximab discipline advancing focusing the on strategic continue our operate FORWARD which resources We with top towards

So me to the call Mark. with that, over hand let back now

Mark Enyedy

been so Thanks ImmunoGen. year productive and an exciting at Dave. far It's

today coming its number clinical is into execute additional the and that, We positioned in ImmunoGen heading the fourth have updates priorities planning well providing for to milestones of forward programs we'll look on activities to and and line the and With on strategic questions. XXXX. a commercial month. we in activities quarter our upcoming open

Operator

We Instructions] take our go Please Schmidt now from Partners. you. Thank ahead. first Guggenheim will Michael [Operator of question

Yige Guo

on questions on Michael. two questions. have This for morning. Yige Hi, Thanks good IMGNXXX. I is Guo my taking for

And study? second on first is question. The you guys yesterday. is one more the abstract general a one released this Have response dose ASH seen in

Now that agents, in you XXX both having looks really guys prudent, activity AML. have two very

wondering Just two bit us steps? a balance be if strategy you do Thank when will on can development more, agents? And how these tell it a next point guys decide good you. to your for you

Anna Berkenblit

four we of over efficacy abstract, had and an So Since regarding we had objective in at dose escalate in the that as PK with we patients dose continued escalation all XX an dose we response. cohorts, presentation. response, have to present oral ASH and then, study data the the safety mentioned has and four will we

we quite the that we're thus So have with far. data encouraged

for development XXX both and this quite we both Regarding about XXX. point, at question are your strategy about encouraged broader compounds,

schedule a compounds need then high and and Our to dose these terms initial and in both of setting. in strategies. settings monotherapy, the each refractory the AML the combination near-term primary in and goal unmet then has for relapsed the in consider is of identify

partner the and Jazz we And of for be so a able initial safety thinking at develop our to down have both in compounds in AML, dosing for both schedule monotherapy, how to nail we and combinations, of and we data are identified these combination carefully strategy for around these AML. strategy with quite monotherapy have will when

Operator

Partners. of [Operator Instructions] go ahead. We will Leerink from Chang Jonathan next Please now question take our

Jonathan Chang

for my Thanks taking Good morning. questions.

presentations could expectations see how you can we for the and question, more ASH to help the versus both set in in abstracts what regards much was disclosed investor XXX? First with XXX data

Anna Berkenblit

Sure.

a both based you each So These -- around to toxicity to assess these perspective. cohort end for ongoing ASH three escalation of from cycle, two one studies. of the studies. submitted are July to three the dose plus abstracts each and limiting are these need get cycle this on And through first were safety year, dose

studies a So, four are schedule. and still are are queue weeks, the we other because IMGNXXX, schedule, week Both three essentially weekly are enrolling. and the on on then dosing cycles cycles schedule for open every IMGNXXX, week a and

So data both out patient these therefore, figure for compounds. can of of at will ASH you we additional kind that have

Jonathan Chang

Great, thinking follow-up early about guys the programs the landscape are stage ASH be ASH? in presentation. competitive the to How thanks. CDXXX just will other CDXXX you data a looking at And for What as competitor from will with you datasets? expected

Anna Berkenblit

Right.

couple So the ADC of, different the and car right are a clinic. in the the of CDXXX, basically am are now in actively camps, aware competitors buy I that keys. the only we And specifics targeting

as from each also And has so, activity. anti-tumor weaknesses, potential they concern. the potential have my strategies buy a these have perspective, some cytokine-release strengths specifics, of syndrome and They demonstrated

-- receive while do the the stable So, they CAR-T. as the think require CAR-Ts safety profile be be be get quite patient able be The those CAR-T, to can effective, dose-escalated a to I to to to important. healthy they also, of going and enough enough that be

I that, be appropriate like tolerated going anti-body developing strategies from all that patients. outpatient clinic, the so and the really of in think ones advantage perspective. tolerability that potential an patient is the could of don’t each AML advantage to a four that is be an as every or drug we’re could stabilized, for The once three And weeks, once these given well patient conjugate have is it

they're – and think So there’s the and validated to it's for of targets, I CDXXX, a for well, CDXX least, needs. strategies unmet clear, at those address variety targets,

Jonathan Chang

combination And data talk thoughts I with FORWARD if Right. longer the Thank KEYTRUDA you. how mirvetuximab. Can just evolve your II you. much Thank more could may, you for about follow-up? on one

Anna Berkenblit

curve. question the could And how durability the is terms the So, thoughts. follow-up our in longer data really much it's really of with around the of evolve about tail,

than for with take think, months, it's responses, a to several so patients so us durable have sense and confirmed not XXXX, more the or have responses And whether also I of before into disease going we criteria expected study drug chemotherapy been on or patients technically with mirvetuximab single-agent confirmed much meet would don’t who with response monotherapy. by the longer stable stay also for resist, with even have

XXXX, in be make think, we’ll combination. about to steps I further that So, able some for decisions

Operator

go question We Debjit will next now of our Wainwright. H.C. Chattopadhyay ahead. from take Please

Debjit Chattopadhyay

Hey, the for and you good taking thank questions. morning,

study platinum did you focused that confirm, new mention sensitive mirvetuximab patients? to understand Avastin cancer. Just we prepared and plus the this in remarks ovarian on on recurrent Should with specifically is

Anna Berkenblit

nice with mirvetuximab cohort our initial So treated meet be in platinum-resistant the next activity patients will The safety and in cohort criteria. classical who previously combining Avastin patients. showed very

combination well have will that contain pin regimen sort we a of population which very likely at that will the addition cross who really However, is platinum. Avastin-based and it bit resistance down going patient. exactly are potential who there down PARP. seen patients next the evolving not an mechanisms, appropriate ovarian is while the therefore, are know on platinum-resistant cohort cancer the focus with interval And the prolonging have difficult a is landscape of tagging a along our PARPs to by it's broader for to make maintenance, end who seen platinum-free of road apart platinum of And already does as

And So initial be than criteria hope be the we cohort the the needs. we generalizable looser, will, population's will from future our to cancer therefore, data the you ovarian if that second that generate cohort. will

Debjit Chattopadhyay

because of thinking and threshold, patients, thinking response north of And patients cohort, speed and started you durability about start less that see -- assuming are months to sensitive probably these the kind maybe of you KEYTRUDA you about start then, obviously, X the up. do you combination platinum you. Thank as -- when on

off. are to kind better do landscape perspective, these immune going from patients probably of So

you you do sensitive material and patients, later agency in when the you So when do from data, the the this KEYTRUDA start positioning out Is upfront? position therapy? lines to so of much. with how thinking you about a reach platinum you Thank perspective, combo? move it Or

Anna Berkenblit

ovarian prior immunotherapy, up cancer an Yes, less therapy what in chemotherapy. little Debjit. a you, more particularly, when intact of beat Thank better is referring cytotoxic lines patients from lines in have to though think, that a bit is and system I are immune there of could earlier of work you're

So ongoing are definitely in inhibitors many moving earlier cancer. of And the in there in lines trials coming now will that years. therapy is up there checkpoint out read into ovarian interest certainly,

up I the strategies potential concept couple opportunities of we're So proof a line further regimen proceed we we best there. with initial will think, The patients with to data take. of you platinum-resistance combination if a to really disease, that there's with will, plus continues development that in checkpoint mirvetuximab later could inhibitor in hold if it pembrolizumab, be generating

would platinum two the Certainly, plus quite other carboplatin I of pembrolizumab. lung inhibitor. of into pembrolizumab type with sided up plus as think, sensitive of been in a mirvetuximab as cancer, triplets well toxics strategy actually, and space, that of pemetrexed require plus successful Moving carboplatin triplet, has checkpoint

active space. So, plus at not if have in perspective. for is durability this have from We're triplet enrollment point, to and And pembrolizumab outcome a I data good our to two very the be problem mirvetuximab on triplets carboplatin, yet. that completing us But continue to is our a in it the be one potential mirvetuximab focus will ongoing platinum-sensitive there think, Avastin. of encouraging

Operator

will Please Canaccord. take go Newman John our of next from ahead. We now question

John Newman

questions. had two Just

regarding in been original Anna, the patients dosed is would to new prior the I question the had exposure have cohort, So, And XXX. second may have previously. there recall cohorts on in Avastin few can a any Avastin criteria Avastin? be different that you

is Thanks. there dose Just the to you’ll you curious the escalation on to satisfied think do range go forward? there? you that room if dose if, look dose maybe the still down take and some narrow additional are at this with you point, Or

Anna Berkenblit

Yes.

in at the like Avastin higher who the impact regimen. the question matters. Avastin the containing showed subsequent a prior platinum-sensitive we that we -- about cohort had that And did MITO/MaNGO this patients past have setting, ASCO naive. of that had and first dataset In prior presented patients in study look who Certainly, the year, really prior we Avastin were it Avastin we Avastin. was Avastin doesn’t presented the So limit doesn't that

enroll we that to So, new Avastin with prior allowing patients forward continue retreatment will cohort, in with we with with Avastin upcoming patients moving because benefit to our mirvetuximab are believe get that plus philosophically, Avastin. strategy

satisfied and in we’re escalation. still is XXX, second your with tell dose can or not dose is to range, I about XXX you question Moving whether what the

We week the are and data looking ASH, then be in step. the that QX position discuss at share next the and schedule and at to schedule weekly we we'll we'll have a

Operator

Andy We will from is of take question ahead. William now go our Blair. Please Hsieh next

Andy Hsieh

event Thanks my the us the for Dave. a commercial half doing in And talking look you're question. first the of commercial to for a framework taking with is going maybe terms guess positive and preparation, guys ramp what -- like? about in first the what next you of question year, provide are readout I Since of in is

Mark Enyedy

that, part an spending talk Maybe can is of it. Dave about perspective, This the tackle Andy. can from then I operational Yes. and Mark

So, right now we're focused activities. on a couple of key

filing. put we runs. drug The and stability first us that position we so ensuring half drug for nearing XXXX that which well that We'll The substance and are drug product runs of the completed secure a second is BLA a supply drug will upon completion. can have

have So, there. data we requisite the

to gearing coming that, to -- In event. up final we're operationally, addition the for

then matching the model, are And finally, that And all validation looking in Right planning. the at sites against pre-launch, around of go-to-market go with and in by Officer data in approval. of begin then first hire the models, when is terms back commercial physician that it's followed some a view cleaning an benefit period we've all a process-wise, operational be segmentation of recruiting it's half at so to Chief of and and it's in the got that track. out collection, targets we've on the of so, that our would go-to-market and now, the looking time and and to metrics our we're positive would management a sales with XXXX force got we readout ready Commercial that then sales that

right then what but with to questions adding So not operationally, these -- and are kind like on outside we're not now perspective. some engaged from of would that key talk we're of comment commercial to an -- support look heads, ask Dave we expense around

Dave Johnston

is of Mark going as Thanks, right highlighted, Phase relatively the terms now, X pre it's readout -- Mark. some activity Yes, on there modest. financial in scale

positive really is think our increase you activities. would along both with that's I readout, that, the that see of spending. ramp to have And when plan will Phase then to we -- once see in start we up an X

that's Now, in it's that half already that important runway projection understand we XXXX. contemplated the for been second cash to provided the of

we've So, what be it wouldn't incremental to said. already

quarter-on-quarter see spend, half you'll -- a the in see up consistent So, ramp then fairly of in couple terms the toward launch. next quarters with XXXX, it I of second and commercialization of think you'll our

Andy Hsieh

treating question abstract In there if just related are that released the in very Maybe just at pneumonia the looking basically bacteremia and adverse second for patient XX%. XX% events. in these baseline I'm was or were XXX common characteristics I'm particular, in AML, yesterday, is some wondering Anna.

Anna Berkenblit

Yes.

Andy, patients, or AML system and they die the because have don't way because So, who've patients of underlying compromised their don't bleeding been immune -- an is and infection they regimens some they their very system tough through AML of is they and immune are AML quite have relapsed/refractory with chemotherapy die these platelets.

escalation common human AML this Phase dose relapsed/refractory is patients. is and AML, first, known X, that rate in not quite adverse events are So, well drug-related. of in And pretty disease-related in there trial underlying actually in

of profile the wisely. things choose one drug we patient quite so, And protecting our and have are we centers assessing that safety to to our is make done of the sure

with and abstract, related. take of we're if of and or on And on dose had our this AML in observed investigators, disease limiting AML trial both lot care compounds on a as the they for that who to said at to patients we experienced we AML work either when no had are of events us positioned been seeing with, point, working off investigators So, understand thus are drug really they're help are trial far. schedule XXX related toxicities us adverse best

Operator

will We Capital ahead. question Kennen our Please of take Markets. from MacKay now next RBC go

Kennen MacKay

for the taking on the execution, question congrats David quick and just for complement. Thanks maybe

respective think I've reporting I on still financial ever revisiting FORWARD mirve from Avastin an for if comprehensive but on ASCO real alpha pembro concise, the level cohort, of data it's is heard plus plus, earnings rate that we [Multiple most overall there and the that of here, that was speakers] in call. of positive ASMO sort II A least Anna some additive mirve the hard benefit to at say thought and definitively synergistic FR response one or follow-up patients.

or and type we little any seen duration unit. magnitude And tumor duration of sort call but are if you biologic be additive cells. bit as synergistic then would or to that of maybe Wondering looking biomarkers, a these focus really out necessarily there benefit for this even there terms up benefit, supports being magnitude versus could why if any of of tumor durability shrinkage. the On on rationale IO be not sort of of synergistic in on should brought events sort correlates combination rationale to here a anti-tumor elaborate of you at for

Anna Berkenblit

Okay.

each I for answer let combination the biology, because quite think different. your is question separately So me

start me Avastin. with Let

response rate the modest it, increase you and response duration XX%. Avastin if into rate And add you pretty increase So single-agent with you of we a survival. XX% already to response -- progression-free knew you get that then standard chemotherapy,

you're who vasculature patients for so in already Avastin high from of an the the we're So then anti-tumor the helps seem with think Avastin to tumor terms higher shrinkage baseline of already rate penetration to response integrity combining have immediate pretty to really on mediocre and think deeper into we're chemotherapy. I starting allowing shrinkage. without mirvetuximab, perspective, And the tumor With when tumor. adding the I a medium durability deeper focused maybe at that much

seeing that be enhanced may that think for I mechanism the benefit. we're So underlying

we're hair efficacy I also data pleased perspective. mirvetuximab So to and neuropathy lose tolerability the combining Because as that an Avastin, appears not from we've their with think both paclitaxel. with be with mirvetuximab don't with seen the perspective patients a as profound and

So checkpoint now let inhibitor the to combination. me pivot

is think with what cancer tail. we've tumor types the probably checkpoint the to a curve I is there tail tumor think So from. inhibitors type is There across us and for is I seen learn best a on that lung

So monotherapy predict a when or a in tail the of benefit settings. as patient chemotherapy they patients it's a given that always frustrating are with they yet addition checkpoint physicians because start There going is from have combination lung inhibitor. lung when in durable can't inhibitors really a treating variety cancer cancer checkpoint for and of which are to

proof of and yet. said are I argue, not for I can have concept be cancer, checkpoint trials, So the to where achieved think ovarian same clinical inhibitors just beginning be would in utilized

the So field watching we're think closely. I

does helpful, end all the is pretty selection all that selection and I of patient biomarker sort we'll position to don't So be but robust think a incorporate for really if is be a PDL-X that, enough, a a that that's it's in complicated answer. field emerge

Keytruda all is biopsies incorporated say combination. our tumor can we've I in So,

who If -- tumors. with durable of right that's we be a marker, aware going to that hopefully patients So to benefit. there it are one interrogate most out those able turns We're will the is to the that's identify now going just be really that helpful. not those

Kennen MacKay

the tumor That's forward seeing the test. and it. there, Thanks additional looking of to Appreciate biopsy explanation some Anna.

Operator

Fye from question take now next of ahead. go our will Please JPMorgan. We Jessica

Unknown Analyst

this the Hi, Jessica. Yuka Thank call on is you for for taking our questions.

one question you. Just for

data you for FORWARD think data investors combo can what forward ASMO, I? Keytruda, do read to or Following into initial mirvetuximab cannot

Anna Berkenblit

into it what read plus can monotherapy initial investors across an in consistent So, mirvetuximab mirvetuximab ovarian the cancer in is three have Keytruda human And study demonstrated active and entirely from is heavily cancer. cohorts. ovarian combination, pretreated the data separate the that we first with

So now. prior three restricted of disease to that's say FORWARD with is in what we platinum-resistant can X to lines The one therapy. population Phase I

and XX% prior the or that mirvetuximab expansion the had reminder, In on with four lines lines therapy. a we set data Keytruda one therapy. focused of presented four cohort prior the patients plus As of patients two of to excluded greater

they So that and be additional next know and III Phase subsequent even from is any our less included therapy we lines enough trial wouldn't with therapy in benefit less. of

data our tell confirm mirvetuximab the adding to the whether of summary, in and is activity from soon not Keytruda it's mirvetuximab too plus just anything. pembrolizumab So

Operator

Thank you.

will question take Peaker We from of Cowen. ahead. our now Please next Boris go

Boris Peaker

Great, squeezing for me thanks in.

wait curious, the or until studies the enough study, just you ongoing planning you a now? have data would I'm For you to reads have out combo new combo do pivotal have combo this right Avastin from

Anna Berkenblit

So pivotal referring combo you say triplet Keytruda just when the you for or … study, us, are to or Avastin or the

Boris Peaker

Whichever do? to you decide

Anna Berkenblit

all Okay, right.

treated generated from will data see that confirms So Number we data have that agnostic or sort doublet. then approval in previously or data XXXX Keytruda piece disease need pretreated But from to plus already in we've plus plus initial BRCA accelerated for that Avastin data from again number more other platinum two, there is our one. Carboplatin the platinum-resistant not trial triplet patients, in of a that patients disease Avastin. durable is mirvetuximab wild-type heavily it whether path additional for -- that combination a we if the could for need support mirvetuximab of the we registration data

need so, next them and with. different won't registration that proceed we us pivotal help combinations trial to going we the to will we have be start prioritize three And but out we're all figure the these once, which to data at from be able trials

Boris Peaker

we'll how see ASH? on BPDCN lastly XXX, many you at And think patients

Anna Berkenblit

patients at The to and enrolling to we sharing is BPDCN. are trial forward And AML and look data AML and BPDCN the ASH. open we

Boris Peaker

you. see We'll ASH. Thank you at Okay.

Operator

from question take now our Please Piper Joseph We go ahead. Catanzaro Jaffray. next of will

Joseph Catanzaro

Thanks guys. squeezing Hey in. for me

remind allow I escalation is one reaching difference is then IGN anything could you quick move to for in hoping the us in and XXX lines, between experience bit was me. your in from you one Just there if quicker dose will of a Thanks. payloads that XXX. sort those and MTD there whether any XXX along XXX in

Richard Gregory

first and I'll Anna take second is Rich handle I'll the one. Gregory. This question let the

drugs both entirely one mechanism payloads that alkylated. the strength bind of they're chemically in So the of are They're groove] in action the [DNA terms of minor DNA modified same. then and the

ten-fold However, our years such that more and result generation in payload bystander related in is we've the next the payload. view XXX optimized several potent, the terms superior a design it or its its in about of of payload in is effect structure more potency

Anna Berkenblit

of then right. XXX exactly XXX the to And question to learnings allow go us applied that's to from faster, to

the was ADC testing. with human class XXX enter to first of payloads this novel So

dose safety were that of of starting we in the in we our enabled selection and dose. to very conceptually starting escalation XXX start on escalation at nice higher fact in higher Again, dose see XXX schema. the XXX have the for and you relatively more relatively a is conservative for that with So terms potent but, on a dose to aggressive account based us the that increments, profile very schedule dose more also

So for able level to we were example for level dose from the do actually tripling of X XXX. X, dose dose to a

than XXX lessons to learned. us move the enable XXX. applying with should all with it We're faster yes, So

Mark Enyedy

Great.

think question. I of the the end that's

So for to all to we time their ASH. thank look at seeing I want today forward you everybody will and

Operator

concludes this you, today's call. Thank

disconnect. now may You

Immunogen (IMGN) 2 Nov 182018 Q3 Earnings call transcript