MacroGenics, Inc. (NASDAQ:MGNX) Q3 2023 Earnings Call Transcript

Scott Koenig: Okay. Actually, you cut out, let me answer the first question, which was on the trial overlap. There is, some sites that are enrolling in both studies, but largely separate sites. But I think we’re in very good shape with the current sites that are set-up for LORIKEET to have a good enrollment in late this year and into ‘24, but clearly, still [Technical Difficulty]

Etzer Darout: Are you still there, Scott?

Jim Karrels: Scott, you faded out. Would you mind answering that again?

Scott Koenig: Okay. I didn’t hear the second question with regard to [Technical Difficulty] for the trial.

Etzer Darout: Can I ask the second question or?

Scott Koenig: Yes, please.

Etzer Darout: Yes. So just was curious sort of where you are with sort of the vobra lori dose escalation in sort of the push and pull here for the start of the expansion trial in 2024? [Technical Difficulty]

Operator: [Operator Instructions] Are you back, Scott?

Scott Koenig: Hello.

Jim Karrels: Your back. Now, Scott, we can hear you.

Scott Koenig: Okay, I switched computers.

Etzer Darout: Yes. We can hear you. Should I ask the question again? I’m not sure if you heard?

Scott Koenig: Please. No, I didn’t hear.

Etzer Darout: No, just curious to see sort of where you were with the dose escalation of the lori vobra combination? What sort of triggers here the expansion start in 2024, if you can just maybe provide a little bit more color on where you are with the escalation?

Scott Koenig: Yes. We’re pretty close to selecting the doses now. We are fine-tuning the individual doses. We expect that to occur by the end of the year and then would move into the expansion in early ‘24.

Etzer Darout: Got it. Thank you.

Operator: [Operator Instruction] Our next question comes from Jon Miller with Evercore. Your line is open.

Jon Miller: Hey, guys. Thanks so much for taking my question and congrats on all the progress. I guess one on LORIKEET. This is a phase – randomized Phase 2 here. But you were previously guiding to a Phase 2 expansion after the ongoing Phase 1. Are we still expecting to see a meaningful mCRPC data set here in an expansion setting in first half ‘24 or is this taking the place of that? And then secondly, on the 024 program, are Gilead opt-ins, I mean I know they’re at unspecified points in Phase 1, but are we going to see public-facing data from that Phase 1 before Gilead has opt-in rights or is it possible they have opt-in rights before even Phase 1 data is available?

Scott Koenig: So let me start with the second one. They can opt in any time during Phase 1. And they will control the data with regard to public presentation. But they can have – they have to do it before the data Phase 1 is complete. With regard to the LORIKEET and the expansion study, that study is complete, but for the fact that several of the patients, three of the patients are still on lorigerlimab. This is now coming on almost 2 years from enrollment and that’d be encouraged by the activity and the ability to retreat patients over long periods of time. With regard to the LORIKEET Phase 2, the plan is to complete that study makes not only for the chemo-naive population but also look at the opportunity of LORIKEET in other prostate setting, as we have described is opportunities to test this in other tumor settings and we should provide some updates very soon with regard to additional indications that we would like to pursue with lorigerlimab.

Jon Miller: Great. Thanks for the color there, Scott, but maybe I missed it. Are we still expecting a lori expansion-update an actual data set coming first half next year?

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

Jon Miller: Okay, thanks so much. And maybe one on the deeper pipeline then. You mentioned the topo payload on 026. But you previously talked about multiple payloads and linkers. So how diverse are those next couple of molecules that you mentioned coming just behind 026? Are they also representative of that multiple payloads, multiple linkers programs that you’ve got?

Scott Koenig: So we continue to look at the options. This will be in terms of the linker payload and because the way the Synaffix biospace there and toxin is set up, we can select one of several. What we’ve said that the first one is a topoisomerase inhibitor. The second one will be a topoisomerase inhibitor. We’re evaluating not only a topoisomerase inhibitor but other toxins associated with other targets going forward, but are not in a position yet to discuss either the targets or the particular payloads that we’ll use for the number 3, 4 or beyond.

Jon Miller: Thanks so much, guys.

Operator: [Operator Instructions] Our next question comes from Peter Lawson with Barclays. Your line is open.

Peter Lawson: Thanks, Scott. Thanks for taking the questions. Just on TAMARACK, why did that enroll faster than expected? And how much data should we expect to see from that in the first half since next year?