ImmunoGen, Inc. (NASDAQ:IMGN) Q3 2023 Earnings Call Transcript

Michael Vasconcelles: Thanks, Mike, for the question. In terms of the PICCOLO data. I can’t imagine a better foundation on which to build in platinum-sensitive ovarian cancer than interim assessment that we’ve been able to share with respect to PICCOLO. This is a — just to remind you, this is a heavily pretreated population of patients with platinum-sensitive disease. And when we look across the available therapy, which is very heterogeneous because there are so few options. We see single-agent monotherapy, objective response rates in the high single digits to low double digits, and we see a platinum-based doublet objective response rates anywhere between the high 20s and high 30s. And here we are with an interim assessment of an ongoing study where we expect at least 48% objective response rate. So this sets a really nice foundation for the continued work of mirvetuximab sensitive disease.

Operator: And our next question coming from the line of Etzer Darout with BMO Capital Markets.

Etzer Darout: Congrats on continued ELAHERE execution here. Maybe on PICCOLO, and thanks for the additional color on the study. Just wanted to know if you could comment at all on sort of the standard of care, duration of response and sort of just sort of level-setting expectations from sort of a standard of care perspective for that study? And I had a question on ADAM9 as well. Just thinking about sort of some of the recent data we got at ESMO from the TROP2 mechanism. In terms of the response dynamics potentially and sort of a squamous versus non-squamous non-small cell cancer population, if you could comment at all on sort of the ADAM9 mechanism and whether or not there’s sort of a preference or first preference for a particular sort of non-squamous histology.

Michael Vasconcelles: Sure. This is Mike. Let me respond to the second question first. I think the long and the short of it is that ADAM9 is broadly expressed and we look forward if there’s any — if there’s any signal that we see that is distinguishable based on histology, when we have that expansion data, we’ll obviously be looking forward to sharing that. But at this point, given the broad expression across epithelial cancers, we’re continuing to look broadly in that cohort. With respect to the first question, I just want to reinforce that we’re really looking forward next year, sharing the full data from PICCOLO. And it’s — your questions are really going to be relevant in the context of the specific demographics, even more detail than what we’re able to share today with respect to, for example, more detail around the platinum-free interval in this patient population to be able to better interpret not just the interim assessment objective response rate that we’re seeing, but also the durability of response and other factors that are going to be important to essentially round out this interim assessment with the full data.

So we’re really looking forward to that. And like I said, I think we’ve shared that we expect that in next year.

Operator: Next question our next question coming from the line of Boris Peaker with TD Cowen.

Boris Peaker: Congratulations on the progress. Two questions for me. So first, on ELAHERE, I’m just curious what the current duration of therapy? And how do you expect, I guess, to increase in PICCOLO patients? And the second is maybe kind of get your general thoughts on the competitive products, DS-6000 from Daiichi that’s in early stage development?

Mark Enyedy: Yes. Boris, the claims data that we have at this point are not sufficient to allow us to project duration of therapy among the patients that have been treated. As a general rule, what we observe is that patients in earlier lines tend to have higher response rates and stay on drug longer. We reserve that same phenomenon with the use in combination.

Michael Vasconcelles: Boris, it’s Mike. And with respect to your second question, Yes. Clearly, the data you referenced that were presented, I think, last week are interesting. It’s the Phase I experience. It looks to me, at least from the data, there’s some work to do with respect to identifying the appropriate dose. It’s going to be something that we’re going to want to keep an eye on and think about ways in which those data progress, but we’re years ahead in terms of the platinum-resistance space, and candidly, the platinum-sensitive space in terms of where we’re at with ELAHERE.

Operator: Our next question coming from the line of Brian Chan [ph] with JPMorgan.