Mersana Therapeutics, Inc. (NASDAQ:MRSN) Q4 2022 Earnings Call Transcript

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Asthika Goonewardene: Yes Arvin. So what we saw with the ImmunoGen experience that the FDA did want to look at the MIRASOL data when they were making their decision on the psoriasis study. So I want to ask, do you expect the FDA to – as look at UP-NEXT when they take your look at UPLIFT? And what do you think they’ll be looking for in the data?

Arvin Yang: Yes, that’s a great question. And so, obviously we can’t comment on the FDA, but keep in mind that UP-NEXT is a different line setting relative to UPLIFT. And so in the setting of MIRASOL and psoriasis, this was an instance where they were studying essentially very similar, but identical populations. And so one, can speculate that that could be the rationale by which they would ask for that information. So recognizing that UP-NEXT is in a different line population, it’s also a placebo double-blinded study in relationship to that. And one would then question whether or not there would be any utility in looking at the UP-NEXT data.

Asthika Goonewardene: Got it. Thanks for taking my questions guys.

Operator: Our next question comes from Boris Peaker from Cowen. Please go ahead. Your line is open.

Boris Peaker: Great. Thanks for taking my questions. The first, I just want to clarify on the UPLIFT data anticipate in the middle of this year. Can you comment specifically on what data will we get when we assume that we’ll get response rates for what we also to get durability of responders – will all the responders be confirmed at that point, any other efficacy metrics?

Anna Protopapas: So we expect – thank you, Boris, for the question. We expect to have top line data midyear and we have clarified that that would be subsequent to some of the major medical conferences that occur in the June time frame. At that point, we locked the database, disclosed top line data we will have a typical data set that is seen with other disclosures that will include overall response rate will include safety as well as the duration of response at that point.

Boris Peaker: So let me just clarify, so you said the data is going to be subsequent to medical meeting conference in June, which I think applies ASCO. So the data should come after ASCO?

Anna Protopapas: Yes, we wanted to make sure that that was clear, it will come midyear, but after ASCO.

Boris Peaker: Got it, okay. And just my last question, on B7-H4 you’ve been doing some work on that. What are the companies that are pursuing this target? And when will we get some additional data just on the target?

Anna Protopapas: Yes, yes Arvind, do you want to describe the other companies here and what we know?

Arvin Yang: Sure Anna. No, thank you, thank you, Boris. And so, we’re aware of at least two other companies that are working on the same target B7-H4. I’ll start with Seattle Genetics and just to give you context, we do differentiate relative to the fact that we’re – using our Dolasynthen platform where we have a drug to antibody ratio of 6 and this is relative to their drug to antibody ratio of 3.5. And the payload is actually also significantly different. We utilize the same DolaLock payload that we’ve clinically demonstrated and utilized within UpRi, where in that instance, we’ve been able to characterize a differentiated safety profile with – a lack of peripheral neuro-peripheral neuropathy, neutropenia as well as ocular toxicity whereby the Seattle Genetics platform, my understanding is that it’s all patented as well as if it does have limitations associated with peripheral neuropathy and neutropenia .

The other company I’ll sort of focus on is AstraZeneca. And we understand that they’re developing a B7-H4 with this new topoisomerase platform, which has not yet been evaluated clinically except in this scenario. And thinking about the development pathway may not be ideal for breast cancer patients knowing that many of these breast cancer patients would have already received the topoisomerase’s payload in an earlier prior line of therapy. So, completing the thought, we’ve guided toward completing dose escalation for our B7-H4 or our 1660 molecule by the end of this year.

Boris Peaker: Fantastic, thank you very much for taking my questions.

Operator: We have no further questions in queue. I’d like to turn the call back over to the company’s CEO, Anna Protopapas, for closing remarks.

Anna Protopapas: Thank you, operator, and thanks to all of you who tuned in for your continued support. We will be participating in conference hosted by Cowen and Oppenheimer in the weeks ahead. And look forward to seeing many of you there. Enjoy the rest of your day.

Operator: This concludes today’s conference call. Thank you for your participation. You may now disconnect.

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