MacroGenics, Inc. (NASDAQ:MGNX) Q4 2022 Earnings Call Transcript

Jonathan Chang: Got it. Thanks for taking my questions.

Operator: Thank you. Our next question comes from Yigal Nochomovitz with Citi. You may proceed.

Unidentified Analyst: Hi, team. This is on for Yigal. Thanks so much for taking our questions. Just first to follow-up on one of the prior questions. Can you talk a bit more about what you’re looking to see specifically on the efficacy side in TAMARACK next year to support moving into a potential Phase 3 in this setting?

Scott Koenig: Thanks Carly, for the question. So, we have a very good historical data in that line of therapy for patients treated with docetaxel at control arm. As the study that Jonathan was alluding to, KEYNOTE-921, and an rPFS of 8.3 months, , also treated with docetaxel was an 8.3 months rPFS. And as you may recall, TRIDENT 3, in that control arm of docetaxel is also 8.3 as sort of remarkable as they were identical to the sub month in that study. And then if you also look at the overall median overall survival, it’s approximately 19 months. So, obviously, we would like to see some significant increase above those numbers. And clearly, we’ll also get a sense from the PSA50s, for example, in , the docetaxel arm of that study was PSA50s of 24%.

So, we feel that given that we’re seeing responses that are looking favorable just with the PD-1 CTLA-4 alone in a later line of therapy that now adding this on to earlier stage patients in addition to chemo has a great opportunity mechanistically to enhance the responses of both our PFS, as well as OS.

Unidentified Analyst: Okay, great. That’s helpful. I also did want to ask the similar question about vobra duo, just how you’re thinking about that efficacy bar in the Phase 2 cohort?

Scott Koenig: Well, as you know, in looking at later lines of therapy, typical control arms run about 3 months to 4 months. So, we’ll have to see where populations now with €“ treating with cabazitaxel. It was a little disappointing. I don’t know if you had a chance for instance looking at the CheckMate 650 study, as compared to €“ in the result of the in cabazitaxel, they had a nice control arm of cabazitaxel in a €“ obviously, study that was just done with a response rate of about 12%. So, it was much lower than the historical data from the . So, we’ll have to see where we go. So, clearly, the targets of getting our PFS close to 8 months would be something that we would like to aspire to, but we’ll have to see as the data evolves.

Operator: Thank you. Our next question comes from Etzer Darout with BMO Capital Markets. You may proceed.

Etzer Darout: Great. Thanks for taking the question. Another question here on vobra duo, just given the commentary around, sort of radio pharmaceuticals and mCRPC, just your thoughts around a Phase 3 monotherapy pivotal for vobra duo versus a combination like the lorigerlimab combination that you’re exploring now? And then again for lorigerlimab, maybe your thoughts around the Phase 2 studies that you could potentially initiate beyond docetaxel combo trial you plan to start in the second half of 2023? Thanks.

Scott Koenig: Yes, very good questions. So, what we are hoping on the vobra duo in the setting of, again, the changing landscape in a Phase 3. Again, we’ll have to see where we’re going. As I’ve already noted, what a single agent targeting would look for both extending the rPFS, as well as the OS with the rPFS running, as I said, on the current studies, the vision study, for instance, etcetera, of approximately 8 months and then obviously OS in greater than a year was about 14 months depending on the study. As you know, we’re exploring the potential of vobra duo and lori in combination in multiple tumor types, but will include €“ and it includes a population of patients with prostate cancer. We haven’t identified the dose yet that would be one we would like to take forward and certainly we would look to do expansion studies once and if we can establish a safe and active drug.