ADC Therapeutics SA (NYSE:ADCT) Q3 2023 Earnings Call Transcript

Mohamed Zaki: Thanks, Naureen. The population of this study I want to highlight that is very difficult to treat patient population follicular lymphoma which we call POD24 high risk patients. So the data we observed in this study is really considered to be outstanding in the field of follicular lymphoma specifically in lapsed effect when you’re talking about 95% overall response rate and 86% complete response, it doesn’t get any better than that in this patient population. We are very excited and we are actually the investigators who are doing this study are very excited about the data and encouraged by it. We will expand the study to confirm the signal and also we plan to share this information with several investigators. Not just that people who did it, others after ASH and during ASH.

And based on that, we will determine the plans to move forward. And we will definitely inform the market. But no matter what the plan is, we will be doing it in the context of the disciplined capital allocation strategy. And also want to remind you that this is a step towards LOTIS-7, which actually, in combination with another CD20, which about this time is much more stronger CD20 like a bispecific. And the follicular lymphoma is also included in LOTIS-7. So it’s a good initial strategy to see what the data looks like in combination with rituximab. And then hopefully you transition into LOTIS-7.

Ameet Mallik: Yeah. And I think if you take a step back, Naureen, you know, right now we’re playing with ZYNLONTA in almost a small setting. We’re playing a third-line plus cell DLBCL. With LOTIS-5 and LOTIS-7 we’re expanding to earlier lines in DLBCL, but also with some of these studies like you saw the follicular study. Now that’s IIT and with LOTIS-7. We’re expanding to other almost like follicular and marginal zone. So we’re in the smallest part of this. As we keep getting encouraged by the positive data that we start seeing in combinations in these other settings. And I think that’s going to open up the much bigger opportunity that we see for ZYNLONTA.

Naureen Quibria: All right. That’s really helpful. Thank you. And I guess one more. And this is probably for Mohamed. This is on the 601 you mentioned today in your prepared remarks that you’re now including a pancreatic cohort. So can you just talk about what you’ve seen that got you excited to include that now?

Mohamed Zaki: Yeah, as you might expect, we continue to develop our bioassay and patient selection strategies. And as we testing more tissues and more things, we observe that a high expression in pancreatic cancer and based on our overall strategy to maximize and prioritize areas of potential success. We made the decision to increase the number of cohorts and expand to another therapeutic area, such as pancreatic cancer, with a patient enrichment strategy. And hopefully that in addition to sarcoma and a small cell lung cancer.

Naureen Quibria: Okay, great. That’s all for me. Thank you.

Operator: Thank you. One moment for our next question. Kelly Shi from Jefferies is on the line with the question.

Unidentified Analyst: Hi. Good morning. This is Yun for Kelly. Thanks very much for taking the questions. So the first question is on the LOTIS-7 data in first half 2024. Is it reasonable to expect that the number of patients, the amount of data will be similar to what you reported from LOTIS-5? And the second question is, sorry, if I missed it, but did you say that the data in first half of 2024 from 601, 901 will potentially have biomarker information included? Thank you.

Mohamed Zaki: Regarding LOTIS-7, as you know, there is dose escalation, and we, at this point, not sharing a specific number of patients. However, when we share the data, we’ll be giving context around it, and we’ll be been explaining it. In terms of other earlier program AXL and KAAG, we continue to dose escalate, and we are hoping to be able to see maybe a possible retrospective analysis in terms of bioassays or expression. But the validation of immunohistochemistry in those program is still ongoing, and we are not yet pre-selecting. We’re doing retrospective analysis in the current available assay.