Immunogen (IMGN) 28 Apr 232023 Q1 Earnings call transcript

Good morning and welcome to ImmunoGen's First Quarter 2023 Financial and Operating Results Conference Call. Today's conference is being recorded.

At this time, I'd like to turn the call over to Anabel Chan, Head of Investor Relations. Please go ahead.

Good morning, and thank you for joining today's call. a operating that financial progress, issued of a results. we recent our and today, press includes release summary Earlier first quarter updated section of This call, website at found recording the our the corporate an under Media press be deck and of Investors immunogen.com. can release and this

Kalofonos, CEO; Medical EVP Renee will Chief me Interim Lentini, of our With and CFO; are Affairs; of Chief Todd our Michael VP for Enyedy, Mark Berkenblit, today our Research, also Q&A. our and Development Medical Isabel President Vasconcelles, and our Officer; our Anna Officer; us Commercial join and Talarico, Access Market

During today's upcoming business, highlight anticipated the call, events. for we review accomplishments financial and recent our results will

beliefs. our are uncertainties These risks and will results actual to statements on We statements forward-looking and be subject and making differ based materially. may expectations our current

in press Please issued Form of most in recent release annual Factors immunogen.com. which sec.gov this and morning and other consult outlined on section the the Risk are available our our risk report at SEC filings, our in XX-K

with call Mark. over the that, I'll to And turn

everyone, ELAHERE's thank on ongoing Thanks, focus morning, saying development today's beyond the today. be this call and to and Good you by that us for of will MIRASOL. discussion I'd commercial Anabel. performance like on joining preface programs our

questions. from any We on hold this MIRASOL top couple respectfully data refrain that line so expect you we'll commenting share of trial to within the weeks, next ask and

for our $XXX our by to revenue ADCs programs a novel We've balance ELAHERE, made for a very of of with million. credit XXXX facility securing the the start strong clinical sheet strengthening Pharmakon non-dilutive and for by up to the advancement exemplified QX four

In the performance teams update, Officer our to has stages I'd months Chief our for commercial launch. last particular, served who over the ELAHERE leading to the market. as like exemplary for to moving thank initial our I and you. recognize want of Talarico, Thank ELAHERE to work five outstanding bringing Todd their medical launch Interim Before the first Commercial Todd?

Kalofonos, to to us organization. like our continued also Monday high-performing joined who success welcome on would the I Isabel of ELAHERE commercial leading drive

On start work the progress position to teams launch fast folate all notable imperatives, our to care made across on we ovarian for standard positive four ELAHERE that note, close as receptor of building a XXXX, cancer. as alpha

the million in sales. In we $XX.X since quarter first full generated launch, net

very ovarian an the are this of to with and results early brings with benefits pleased these reflect cancer We advanced performance and accelerated ELAHERE unmet need. population believe high recognition

to with we continued percentage and saw complementing of and starts. new significant quarter broad the be deep in a accounts, Uptake repeat orders patient

with academic with quarter those While continued roughly customers prior oncology from from groups, from largest nonacademic and new our orders ELAHERE. and accounts the during came of XX% institutions orders community-based come of to institutions XX% experience comprise no

Turning to testing.

We see demand up set the in diagnostic continue collaboration strong four FOLRX labs Roche. to for central through with our

tests of test addition, labs XX were diagnosed XX the estimate In of performed FOLRX roughly that labs than more quarter these that and to a are the the newly added run and for We during process significant in the in-house. we tests quarter X,XXX during first are patients. percentage new validation additional

XX%, that XX% indicate in rate between the experience. clinical receptor which alpha our was folate trial data with our addition positivity and line In is

coverage of and quarter XX% and how XX% of ended label. with pleased very are with we quickly lives policies covered. We have our aligned access, the to payers Regarding included commercial ELAHERE Medicare

to Finally, be highly our field customer-facing active. teams continue

particularly interactions, community among team roughly of our end in see target with uptake impact setting. March, priority the the XX% of to commercial the accounts, As has We've been of these targets. their engaged pleased of broader-than-anticipated

and their continuation services clinicians feedback field with To engaged continuously been in regarding their suite support positive by a enthusiastic patients the providing therapy of to highly complement has from of full start team relate experience our from affairs these product. efforts, physicians. the ensure our and medical Reports a

still In performance. summary, to we we commercial market. much about learn are very this pleased with have full quarter our said, first That of

guidance to testing refrain So treatment at can testing mix assess with experience testing monotherapy respect pace we have adherence moving adoption, initiate will factors and from until and we versus providing from another of rates other claims of and more and to revenue FR of combination duration therapy including to diagnosis the and fully data versus prevalent quarter the growth alpha the incident initial populations of use, discontinuations. and driving more fulsome

I'll on over that, to additional with provide to development Anna programs. call Anna? turn So color the ongoing our

resoundingly Thanks, month, mirvetuximab at highlighting the present on as positive last alive of trial months survival SORAYA overall were SGO XX to with data pleased additional the months of across the XX% ELAHERE at patients well conference. feedback to XX Mark. activity excited We receive the median at were subgroups. physician of also as antitumor We final from different

work proud We are this very our area. the affairs team done has medical in of

endpoint the we anticipate the Let which PICCOLO, expand readout mirvetuximab of enrollment on before development alpha potential completed me has to broader the in meaningfully with a patients high end ORR FR our expression. this trial platinum-sensitive single-arm And year. ELAHERE of cancer the in now mirvetuximab the label. to monotherapy ovarian program, primary of turn we recurrent In January,

mirvetuximab we as look cancer we progressing the studies. position are combination to agent of choice ovarian two As in

GLORIOSA the maintenance Phase in plus versus our bevacizumab first standard-of-care is evaluating The maintenance mirvetuximab platinum-sensitive bevacizumab setting. second-line trial X

continuation ovarian levels trials are working Both high trial second Phase with or receptor by U.S. the patients platinum-sensitive plus we them and a well. medium Europe opening MIRV low running folate alpha in The in up and evaluating expression. of XXX is X are single-arm on cancer as MIRV study followed carboplatin in

We of and our to in BPDCN trial in data track on CADENZA remain line in Moving XXXX. rest anticipate pipeline. frontline complete this to the our pivotal of PVEK enrollment year top

in and continuing PVEK are patients also in this malignancy hematologic to the explore BPDCN concomitant with aligned we be last reminder that frontline novo will population FDA enroll prior year the or population. with potential we of patients further benefit efficacy-evaluable a de to a As

frontline program AML we in along to XXX optimize year. strong frontline evaluate with cycle to and trial forward cohort our in fully venetoclax azacitidine combination of our up enrolled our venetoclax later of XX-day data with will the PVEK guide this of XX and We from frontline help recruitment duration to venetoclax AML. This venetoclax cohort development For per cohort this triplets in in setting. us with look for the our days these cohorts reporting progressed pivotal

a to evaluate the we relapsed and refractory half AML with collaboration PVEK in to the separate efficacy addition CDXXX-positive in In in Gilead, are cohort a year. doublet novel safety second of of the initiate preparing magrolimab

IMGCXXX schedule per ADAMX-targeting ADC we completed schedules three levels. our This weeks of with on dose As milligrams weekly for dose of recommended multiple our weeks. have three in Phase and escalation without six based reaching X earlier-stage a across MacroGenics every selected first-in-class co-development kilogram and dosing two an assets was MTD exploration every on

In interim cancer the addition, lung protocol prioritized provide we update completed. have is to the non-small specified an plan cohort analysis cell after and

continuing dosing IMGNXXX dose earlier a and of Lastly, in in ovarian of folate our are year trial alpha-expressing X we broader address and this with we endometrial to is cancers. Phase initial receptor range designed tumors escalation. patient This trial exploration commenced

a pipeline look to see start So great with in in XXXX our year, advancing can early the the MIRASOL rest we're to and forward top as results off May. through line anticipated you of

Renee? With the cover that, turn to financials. call I'll over the Renee to

Thanks, Anna.

license in revenue, $XX.X first million revenues noncash quarter generated of XXXX, fees. milestone and sales the product royalty net including million and support we of of remainder and the $XX R&D fees For in million $XX.X from ELAHERE,

$XX of and expenses. quarter R&D We cash Operating with ended million facility sheet. the initial million And expenses with on million tranche in the of the April, were the comprised $XX.X SG&A early $XX with term Pharmakon. million $XX.X million, drawdown $XXX.X of of the loan balance in of expense added first

we $XXX Our $XX $XXX million be from guidance million revenue XXXX ELAHERE product and $XX and and has operating million. updated excluding expect financial revenues, and now between expenses to for between million been

a expect our with the first and as to license product was to upfront Vertex, later fee increase million ELAHERE deferral revenue provide $XX our We year. of agreement a guidance no guidance related quarter, in required. result this The option is revenue in recognizing

ELAHERE's increased the company guidance success its and of Additionally, growth operating current expected expense trajectory. support spend greater to in reflect

fund expect inclusive with operations term We and will cash, the XXXX. into of and pursuant our that current the million to Pharmakon $XX loan revenues anticipated collaboration product with received combined facility

open the call With that, for we'll questions.

Genuity. Instructions] John from first Our Newman question [Operator with comes Canaccord

is Your open. line

good you guys, Hi Thank my taking question. for morning.

Just quick had questions. two

on curious, with immature ELAHERE. to Thank some for at for regarding First Should overall can the if MIRASOL. data? data you Second talk survival indications, combination question top with on but one only we be are is you of you. use labeled discussion PFS promoting still expect Obviously, focus all about Avastin? line

Sure, John.

on we're the have enough overall for key to will as review. be track as endpoints, early primary overall previously, from survival on top line events that survival. There MIRASOL we'll May. as mature data well data stated progression-free And will endpoint secondary regulators we've survival, be for So, the it including enough

Right.

market data which recurring a the on little at uptake we've limited theme point. John, be of got this terms call will of very bit this In this is a

data claims XXX have We than patients. for less

see on. comment articulate trends but will of What sort any the so is, around say can't us, do with any combination to which to difficult conviction. both encouraging monotherapy it's of course and so, is And any in use conviction further database, we I and

Great. you. Okay. Thank

Thank you.

with Guggenheim Our from next Michael comes question Schmidt Partners.

line Your open. is

on terms my months starting in a repeat duration What point. new do quarter have Hey versus questions an you repeat seeing taking patients early first and on -- customers are read guys, you this been relating it's morning. first few only in now congrats right good therapy that for on the very Thanks this at patients impressive And of quarter? result.

Yes.

months percentage orders the we it's got say, XXX we of obviously, just as said data. from I coming little do I patients we've And accounts. -- four significant as a bit worth see repeat were Again, claims So, in. the a

accounts can down have new see level. ordering are percentage coming repeat the percentage accounts that to So, But what orders. hard of patient and sort take a healthy online we of of significant very that to are a it's the

no in this So terms of therapy. again, sense duration at strong of point

since size versus anything the or year, about mentioned about into the head trajectory expectation. early the And any the population rest of pertains as dynamics year? incident data, XQ rest of thinking trajectory anything as the as think was through the addressable it just market think then And of we I perhaps noteworthy noteworthy our we the prevalence Okay. April a to above obviously over shift of you the other

Yeah.

comments high a level few So here. maybe

really being data execution As by here, the the strength emerging the four see is factors. performance, driven on we the and launch the of assess

side is first low patients chemotherapy, the significant that for meaningful which Bears manageable is safety effects, the see The with we of is Xx characterized single-agent new by profile. cancer which duration leads where overall resistant ELAHERE unmet factor, drug overall for almost of a of first the which really approved decade, over second of in response specifically upwards platinum and standard product rates this these care to need. is the in repeating the us short a with ovarian rates profile response terms XX% a improvement and receive

very we're this physicians we're who that benefit confers population that is this the the have that physician space. a terms a against the seeing Equally audience So to of receptive to our testing. is profile population we acclimated innovation bringing recognize in for that and important both that is -- that patients and what

testing. So to between BRCA accustomed that's tests base HRD mutation a is This ordering testing for and their patients. prescriber

which the testing, see in that robust. with we be so continues And uptake very to

how pretty the a manage us this then one to questions good going preceded screening? finally was baseline going launch ocular happily into And into margin And the are market. this TIVDAK you of going by

referral So have that again across the basis is ocular already find we physicians for prescriber what base established exams.

been back that. And of so able to the on ride we've

market has to really and relates mind, our that to and the cancer as deep establishing team done becoming job and strong with of a prior broad in executing then the excellent adoption. so both approval into to what post testing and approval factors ovarian as And ourselves demand an valued education translated a partner -- for it community. has those And

payer about talk the in experience with to community And drug. in addition physicians we coverage. no prior the heard that, the You've in rapid with see particular and us uptake

One is is important this make point to inventory. not

to the just I channel. going so there's want stress a directly operate drop-ship in inventory we that So the to almost no customers it's in and model,

buy and up there. not set wanting who firm amount but it's specialty to vials bill, nominal for one of have are We those a

that last it's linearly. obviously, XXx what not quarter. safe was So And as think continue we look will was to quarter to say it I scale this ahead, revenue the it

to and by That to couple is this learn just the said, here factors. we growth that market a about of lot a have we be pace of going think driven key

and whether And to out. particular the work mix this is ordered reporting things is and ordered data. the at are little lag were the the patients bit where drug they're therapy. of patients that then I where for tests patients we mean, up. or newly of a tested of diagnosed haven't the sorted testing and way rates looking There's in from is two of matching terms the first The initiate those testing in to still being has ready that seeing

additional that something it's So through. to sort data requires

therapy. and we combination is versus today claims the population. data longer. have therapy monotherapy from on incident But to tend higher patients limited, respond available prevalence stay to at the that rates Combo the moving Secondly,

gets complicated look So But US. ovarian in living when bit with little you the cancer at this Michael. women cancer over the is a prevalence XXX,XXX overall, ovarian

platinum-resistant in patients platinum when platinum-sensitive irrespective buy sixth line for prevalent assess other by sensitive that don't But Instead and diagnosed And XX,XXX then the each whether also rely split data estimates of with between of newly up that to other or we the through provides year. you that's population and newly platinum diagnosed use parameters. line us we it's we DRG modeling. resistant, stratified therapy. from add first We patients the patients use of sources line on

So the annual and the population you between see difference prevalent this incident population.

while year. with into so population doesn't cancer launching it's for options. median incidents, in annual limited a prevalent to really population, before advanced ELAHERE a using It survival than And think we better with approach of particularly overall modeling this account treatment less

population is it's a no therapy going early how the to population penetrating they of you are prevalent that the but and here platinum whether data stratify we But in we by the population sure, larger at market. do resistant. into as this have that So tell to for good point or platinum-sensitive larger capture we're line and

of answer your what right to but have So long that's a really we best now. question that's the

All detail, right. Mark. Thanks for all the

you. Thank

Our next Darout from BMO. with question comes Etzer

Your open. line is

some here. the and the of sort could what you're first year Great. of at quarter I follow-up. to a Thanks I month? of kind just for maybe taking momentum if then of strong of sort you sort have questions – first all April just another realized and it's three of wanted the versus on congrats the early quarter now exiting April of comment kind months of you're the understand sort maybe exiting on And exiting seeing

Yes.

away that one quarter the say degree So continued of to avoid to the report numbers that. any going product doing from things during of I a in of order of is the this will but We're to concerns we allay growth commenting so... to in conversation a and avoid quarterly specificity. on our basis on with continued stay quarter we regular tone we're momentum the of will any kind see just April going

diagnosed you Got folate then in newly it. a on of they're ovarian the sort a maybe maybe receptor And of testing of patients. sort bit and for are give results testing getting could little alpha how that feedback physicians if cancer

of curious not how use sort sort they testing results. may sort Just of those and of may of the sort or

Todd?

to has robust. been The this Yes. testing up very point

ovarian the physician moving where Mark and they're treatable we're from had patients. XXXX quarter. newly is population community diagnosed we've the patient seeing mentioned What the a patient more this and population into over in As tests that

are lot centers seeing those those we're a of of of different each at markets certification uniquely this point. but into also labs So

very Mark been the are So acclimating mentioned, quickly pushback testing received. to has very seen it Physicians well we've testing on and requirements. little

question What was just the was gets little that results when back. your get or...? what a a Maybe bit describe results Etzer the physician it they

Yes.

reasons Just ovarian sort dynamics why the versus physicians of or kind testing maybe and diagnosed running testing the of patients newly cancer platinum-resistant one are sort test? curious in of of population sort of the those around the the

Got it. Yes.

Etzer, Yes, sure, hi.

the So already tissue for do to tumor They're initial recombination the in planning initially they debulking mutations physicians They're check or most when planning diagnose to sent already patient, also HRD. patients have get to the when That's tumor. BRCA lab. check homologous for surgery. deficiency

patients their will that's really some unfortunately alpha or So not option check so is at thought from those our And that well. for ELAHERE process relapse for let's hey, know be point them. receptor they'll perspective for folate do a as who treatment helpful whether

you. it. Thank Got

you. Thank

comes question next from Andy Blair. William Our with Hsieh

line Your is open.

to for pertaining ELAHERE spectacular launch. commercial the the ImmunoGen Well Great. My everyone to congratulations at questions launch.

do a of and the the ELAHERE also So, have in compendia-listed in population. the first you magnitude sense population both is labeled penetration of

Secondly, just into a is settings? physician is maybe community what dig a I the the difference Do tolerability? disease And or longer driving they little perspective from there about control uptake? more a you feedback deeper tell within wanted to bit academic deeper

Well, on or data the provide to or Xb too whether for Xa of early our for us NCCN triangulate it's it's against the not positioning. claims the robust because the understanding enough patient first data question, population is mature you us really the to enough

for to that. early provide us too So,

want to Anna. You answer might

just And know available of with about physicians trial what's then in need on clinical on driving me they what update based our said build ELAHERE terms the versus data. expect what here and around unmet therapies initially Mark let what the

-- the month rate plus ovarian minus available chemotherapies platinum-resistant response Patients around XX% survival give single-agent therapy a you two. with cancer about year a or And is with a in their range. median or overall

hoping well give that really patients they disease taking physicians patients drugs are these care want tolerated. and they're their when for expecting stable they're They're not of responses. So, to

you each disease, profile. toxicity own the have time And single-agent platinum-resistant has by chemotherapies their

rate so The going quite approaching is over disease they long majority And ELAHERE on XX%. alpha for patients duration and FR to high based of that have responses response vast months. patients our with the be stable that seven know also is the of

convenient then or in it's hair they five. lose the context ELAHERE. three-week don't and schedule that to like talk you And so opposed every tolerability the about weekly your a times fact with And that daily profile patients as really once

the highlighting there's think I approved in and it's for space years. that XX been really So, unmet the about nothing the need fact

So, I these who engage what patients hear of you And what care if them. we're that's think you'll with seeing. take physicians that's really from

Great. about you talking you IMGCXXX Thank you. what of And that can mind Anna for in do just interim the analysis you. entails? Thank terms

Yes. Sure Andy.

So, Simon Two-Stage Design. standard it's a

done patients. have we're an have of once those larger We continue patients stage. single-arm initial then we enrolling cohort would to enrolling And a

after so And we'll analysis that share we data. interim pass

Great. you. Thank

Thank you.

Our with Cowen. from Peaker question comes next Boris

Your open. line is

probe you Great. congratulations guess Thanks. on testing? versus let on ELAHERE are ELAHERE? first kind testing. patients little specifically a And still not quantitative have eligible me of all folate add fraction of that the results. for the excellent just sense that want more I do others a alpha and to for to confirm are I for immediately are of the want what I eligible testing in being earlier And you just receptor on my are paying

Yes.

a were that at just of the call Those the So, set labs. significant prior pay the at TARP we we do centralized we labs those to today tests that launch. up are performed percentage what for

are these number a of we've on being this taken mentioned As in-house. tests call,

for. the that this currently do for expand roughly So, $XXX potential institutions not testing. We machine for this to tests But well. And is again, ULTRA those see are the as opportunity us. offer those are subsidies runs that that from We'll the have paying assay. centralized the Roche large we tests BenchMark

their barriers And investment story. here instance. think about first an here and to accustomed very element prescribing, as we the have of important the I when we So said, is patients we in base lowering ordering to think this prescriber tests the a for who's the

many analysis to folks these versus who we in of just to As drug on. versus diagnosed before, of sense newly It's for ordering are to ready test initiate not inability match the and -- the those do that accounts therapy. being look an physicians are performed how that have tests any the at tricky a are patients are the ordering so

have So we this at visibility just don't that time.

second exactly rate effect? collecting you kind get any my the real question in this it. the sense or are -- discontinuation of world toxicity, is is is of could that a how playing what Got observation dropout And side kind any the on managing around vision data the other how out of better you or

in done eye a adverse on a job of a for We looking nice post-marketing ocular connecting have oncologists requirement professionals started with we've terms at care study TIVDAK building really for what us. So do events.

think the But I road that's again, so the is. as that world context, clinical the study sense. in us within And it not trial down real may give a

So out emphasizes there and I going and team, think really importance experiencing. affairs understanding of the that medical our they're with what physicians engaging

we're sort if their continuous adjusting engaging sure optimize well. the need make to they information to would how that they gone quality that's of improvement feedback, management really say a sites have have effort hearing I of we're you with patients. and We on will And we're as

other at we've seen is trial in at post-marketing is distinct point surveillance, And safety that Boris, The add is experience. we all our this nothing Mike. the I'd clinical -- thing only this from

Congratulations taking very my Thank Great. you much question. for again.

Thank you.

you. Thank

comes from question with Barclays. Peter next Our Lawson

Your open. line is

as Great. Thanks my the on revenue. much. meaningful well Offer so congrats

toxicity? Just feeding feedback off physicians the last the ocular from around what's been question,

been materials, we to really have that patients. And that has professionals. the have how expect feedback that the materials care and they them and patient-facing what we counsel materials helpful, we've to incredibly provided for for So eye have oncologists so been know their

therapeutics a connections as we in point nice this those And It's in the is prior treating the at Anna thinking been partnerships Mark of therapy. professional making physicians. And the given quite had as the routine before becoming create starts this eye partnership and it's a a about care had on -- to really within also space. community terms been foundation nice said, Yeah, clinically mentioned, work it's Mike. with patient

have -- here mind in that two working ophthalmologists staff Just ImmunoGen. working keep we on at yes, here

has as the alluding that some referrals get like, need if ordered, was Mike the management support for ocular to networks dispatch team account noticed provide we the so And be an educate to on here. it's I got professionals of said, this getting here eye staff seamless in has follow-up. care a terms baseline think as important. But therapy established exams the We've any and on really and we which are but making I when the and necessary well and pretty initiation helped

then any patients just think could get kind if the journey. some in And XQ. that just in where are those revenues whether patients Perfect. the you then, month-by-month make late details line of comments are early be performance would around of great And to around you or these line kind

Yes.

monthly away going to we're stay revenue. from So

appreciate and growing then, question, what's will it's to to And your You that that? grow. second sorry continues Yes.

As got of point, data Peter. this patients at I say, less claims we've worth than XXX

experience give to call the six product to of the at match we the definitive this. way we early hard much but parsing prefer against before we there in some that sort totality, I of have a And like are it's this have on that market any to the sort this think would so, Obviously, least data in start months a at trends, point guidance.

of it reserve late-line anecdotal of that kind a from there's very or putting as be line they I kind great. guess, they're therapy if any physicians, early patients would kind content whether whether of therapy on commentary

a therapy. this don't Yes. as salvage approaching they're think I

of FR that, choices an drug of put FR of got this the alpha and looking looking what looking they're I they're patients. what think one alpha are line think who I on for patients therapy. those for are their they you've patient have to irrespective when patient at positive And

the of And the therapy. terms recommended this the line regard of use in drug were by NCCN helpful in of guidelines not confining

both So of line earlier line directions in in that's patients, but also terms later patients. militated

so Thanks much. Great.

you. Thank

comes Kelly Shi with Jefferies. question from next Our

Your line is open.

if QX. stellar XX:XX the academic treatment is XX:XX was academic The on world. in the community curious seeking split for at center I'm the patients mentioned our this versus volume at also on center of stable Congrats community versus real QX. versus

ADC Thank QX The second track? you. is update data Is the the question remain ADAMX in for on program. still

Yes.

if question I'm academic. community clear, the So to mix the in to is from relationship

Okay.

Yes.

Yes.

okay. -- than community now, stronger I the are academics has growing. in the the think think anticipated. come Right we And So I

starting our base. centers we're So carry to volume customer start the academic higher to see across

roughly about accounts XXX are have that ordering. currently We

taken P&T academics the reviews, have a placement, think, in number seen in development place. I management mainly to put little of There's EMRs. we've of longer, ocular a But protocols things because formulary be sets been order the

really be key that been that directionally real that So there's I over trend I can't but a will shift say the time. will community driver, think mix

The going your share depend analysis, to the that follow-up, Kelly, question on that a and regarding interim then to of once enrollment two-stage to the exact is And mentioned have data second have then the we we will from set as design. passed stage we I really timing IMGCXXX, data the first so full share. of the Simon

Okay. Thank you.

from with And Asthika Goonewardene Truist. question you. next our comes Thank

Your line is open.

for I'm quarter ELAHERE. my And well-executed congratulations here also Hi. Good morning, to guys. on sales first a very going offer

medical can that. then, also if seeing Oncs. color maybe understand among we've us getting you're throat wanted Thanks, -- Anna, this, seeing more frog oncologists about past So, in ELAHERE what more side a its days, little you any be the on of just I to patients, commercial on to you got the my And in in us that as to -- give but emerging? provide the check to in against in color the the hope here. on I but wondering just in that position mechanisms the -- [indiscernible] early of a are in are uptake a uptake versus I terms bit guys. are you Gyn resistance What the excuse spoken me, back ELAHERE,

Yes.

resistance to mechanisms had biopsy enroll had ELAHERE and of it we to ELAHERE. We data biopsy all because interested at tumor over ago SGO years patients rapid we're There to nice has tubulin-directed payload. cohort, nothing where, generated post-treatment So the The certainly who there had we've enrolled biopsy. called shrinkage. a so in were patients that presented after cohort was a many a actually two few cycles. such were that

for at We did receptor But no folate get the down biopsy, was rapid showed we that regulation optional did those an that biopsy that time of we post-treatment progression. alpha. of have there

imagine no can they're patients you less the themselves for when is to working being a a interested are told most drug in them little subjecting As longer biopsy.

we what perspective we better seeing the patients we therapy understand benefit confirmed think that the response, patients. ELAHERE, a may particularly a and overall, mechanisms to will life really said, of to being cycle I a the manage of meaningful suggests to duration That are of scientific with occur. from in as So resistance continue learn

And -- we've I'll we that point, X around the feedback jump launched specifically to strong Onc this At our if that majority physicians the had Gyn Onc into on I question And were community. Med gynecologic and community. primarily in particular oncologists. of Tier from interest

Onc. over Med XX%. but been combination and We've had have had of customer those our of and Onc presentations by overall interactions with Gyn we've Those face-to-face some seen XXX a field reps, about customers or are

time. really community manages medical actually the disease The over

community the that with oncologists on the work treating patient Oncs based them see time. the So think patients, see probably will product with transition Gyn And we do medical comfort you'll I level over. again, and their over these some actually positioning more

you. Thank

Joe Catanzaro question Piper Our with next comes Sandler. from

open. is line Your

into I for provide quarter think the first here. When and much this. Mark congrats my Maybe question, any so timing experience it, that's or the dose to you on I look say you and on in provide at clinical Thanks guys. could early repeat line with Maybe extent ask because you does of taking wouldn't number requested, or insights you said and interruptions any nice hate and tracking details of reductions. questions, really that vials orders not? whether my Hey,

see like then, sounds think data I I previously And the recall cancer lung expansion both now it initial and guided on but we'll ADAMX negative, including triple just you lung. program, had towards

you wondering thinking your on could Thanks. updated So, if to speak TNBC. just

Yes.

which on of points patient-level those can accounts a that those our orders data. accounts very is again basis make and obviously, uptake And that orders. that has is are we are the what there want to which been of academic and accounts one repeat largest It's strong. our just so here we new see we -- the of and coming not daily assess are that in are -- So the

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got in repeat a But of that larger it's whether or to got patient from you've tell a new you've these whether one patient. accounts hard context

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be accounts, these hard in are that But patients. it's XX us it's again, at the really basis get confounded rate. larger multiple to to given being claims data reported from going the a again, with to to by And delay, a discontinuation XX-day

are today. things. we where that's more of a we'll sense Obviously, accumulate have experience, those better we so, as And

thoughts about first prioritized design. initial of forward cancer. to I completed tell ADAMX you targeted Two-Stage switching cancer we've stage and --our the lung IMGCXXX non-small look cancer we've breast ADC that data And cell to question to triple-negative is sharing were can Simon lung non-small second what cell after and back And your the

Got so Okay. Thanks it. much.

last our question from Jonathan And you. Securities. Chang with SVB Thank comes

Your line is open.

quarter. This guys. Hi, this on for and on congrats Thanks Jonathan question. is taking for progress [indiscernible] the our

ask that the to you drivers OpEx the going wanted little you are revised bit. that? what Could saw a up into Just describe I guidance

Renee?

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Got it.

Okay. then indication And that study guys could on setting? in PICCOLO bar for discuss the the what's regulatory expansion you

Yes.

later there PICCOLO mirvetuximab which artificially the platinum-sensitive frontline trial our sometimes with and to The line platinum-free monotherapy line in say regulatory disease. part widespread evolving really in setting, platinum-sensitive and more adoption there platinum-sensitive interval. So the would in patients that now extend is maintenance recurrent the sense of later are bar is I is more in essentially

damage to unfortunately cross agents patients We know these these have DNA. resistance that

sensitive on more last coming it in based as days. tumor data from chemotherapy sensitive a been out platinum you've after even to that the inhibitor and had the even technically would platinum is So platinum-based as are though not your more of pre-PARP are you have time PARP dose

what our around say benchmark would pre-PARP they still get emerging will data to help establish with than accelerated do would benchmark anticipate could We're I working have would impacting that is patients to are solid very that in I single-arm evolving. in a us fact actually proceed study it for the again is that to alignment therapy. era. on FDA approval. that we would thoughts be that the with assemble what So And expectations would for available what be. are to for be worse these may And that need

Got questions. it. for Thank my taking you

you. Thank

We Lawson follow-up Peter a from have Barclays. with question

is line Your open.

so Thanks follow-up. the you much. Great. Thank for

use -- what beyond that FDA us remind studies spoken if you a about Just if -- have you FDA as MIRASOL could the study the to studies? those if could and again and the about you the confirmatory

Sure.

GLORIOSA needed -- is study. And could if that is the could become and reason up it So support confirmatory I say potentially running. the

in the FDA have X randomized Phase with the study different maintenance We it's a and design setting. in a recurrent platinum-sensitive setting discussed

as confirmatory serve study. could it certainly So a

FDA in However, we not have FDA. conversations that is on good what engage a not potential. It's with really idea to engaged with

May. data is this at so point MIRASOL on early our focus And

you. Got

to And needed those so if with you'll GLORIOSA? be well conversations positioned start

Yes.

follow-up. the for Thanks much. so Thanks

like turn Thank to you. call back the Mark for further questions. any remarks. to closing no There are Enyedy I'd over

today. joining all Great. for again Well you us thank

partnership you to we're we've with cancer the look forward and provide pleased with very with Thanks. from ELAHERE we the MIRASOL start community. the speaking building study. the ovarian are to soon results that made And We with

participating today's have for great conclude disconnect. a in you Thank program. program Everyone, day. may This and you does the now