Mersana Therapeutics, Inc. (NASDAQ:MRSN) Q3 2023 Earnings Call Transcript

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Operator: The next question comes from Boris Peaker of Cowen.

Boris Peaker: My first question on 1660, can you discuss the concept of target optimized drug to antibody ratio? I just want to understand how do you know what the ideal drug antibody ratio is for a specific target?

Martin Huber: What we’ve done as part of our preclinical program, and this is public data, is for a given target, we create a molecule with a range of DAR species. And then what we can look at is, for example, if you look at DAR 2 versus DAR 12 versus DAR 6, DAR6 is optimal for a given target. So this is basically experimentally derived for each one of our targets.

Boris Peaker: And I guess for 2056, so I understand the goal is to deliver the immune stimulator to the 2 micro environment. I’m curious, is it possible somehow to tell if the activity that you’re seeing is systemic in nature, let’s say, the payload is coming off or just working systemically, or is it actually starting in the local tumor microenvironment?

Martin Huber: Based on the limited data we have to date, we cannot draw a conclusion on that.

Operator: [Operator Instructions]. Our next question comes from Asthika Goonewardene of Truist.

Karina Rabayeva: This is Karina Rabayeva. I had a question on the B7-H4 competitor data that was presented at ESMO. Does that make you more inclined to pursue certain indications? Endometrial, for example, had only a 6% ORR, but this was a CR. Can you just share color on that, please?

Martin Huber: Sure. I think we want to be a little careful in drawing conclusions prematurely about the specific tumor types outside of breast because the numbers were fairly limited across the board. We also know in some of those other tumor types, the levels of B7-H4 expression may not be quite as common as it is, for example, in triple-negative breast. So we, at this point in time, while breast cancer, especially triple-negative is probably one of the places where it’s going to be easiest to get a clear understanding of the data, the other tumor types, we would say, it’s a little bit premature. We do think they’re still interesting. So we still think there’s an opportunity for 1660 in tumor types beyond triple-negative breast.

Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Dr. Marty Huber for any closing remarks.

Martin Huber: Thank you, operator, and thanks, everyone, for dialing in. We hope to see some of you later this week in New York at the truest biopharma symposium, and I’m looking forward to keeping everyone apprised of our progress. That concludes our call, operator.

Operator: The conference has now concluded. Thank you for attending today’s presentation, and you may now disconnect.

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