Mersana Therapeutics, Inc. (NASDAQ:MRSN) Q1 2019 Earnings Conference Call Transcript

May 09, 2019 • 08:00 am ET


Mersana Therapeutics, Inc. (NASDAQ:MRSN) Q1 2019 Earnings Conference Call Transcript


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Good morning, and welcome to the Mersana Therapeutics' First Quarter 2019 Conference Call. Currently, all participants are in a listen-only mode. There will a question-and-answer session at the end of this call.

I would now like to turn the call over to Sarah Carmody, Executive Director, Investor Relations and Corporate Communications. Please proceed.

Sarah Carmody

Good morning. Welcome to Mersana's First Quarter 2019 Conference Call. We issued a press release earlier this morning reviewing our first quarter 2019 results and business updates, which will be covered on this call. A replay of today's call will be available on the Investors & Media section of our website. After our prepared remarks, we'll open the call for Q&A.

Before we begin, I'd like to mention that our call will contain forward-looking statements within the meaning of federal securities laws. These are not statements of historical facts and are based on management's beliefs and assumptions and on the information currently available. They are subject to risks and uncertainties that could cause the actual results and the implementation of the company's plans to vary materially, including the risk that our early encouraging preclinical results for XMT-1536 are not necessarily predictive of the results of our ongoing or future discovery programs or clinical studies, that the development and identification of the company's product candidates and new platforms will take longer and/or cost more than planned, and that our clinical trials will not be completed on schedule, if at all. These risks are discussed in the company's SEC filings, including, without limitation, the company's annual report on Form 10-K filed on March 28, 2018, and subsequent filings. Except as required by law, the company assumes no obligation to update these forward-looking statements publicly even if new information becomes available in the future.

With that, I'll turn the call over to Anna Protopapas, Mersana's Chief Executive Officer.

Anna Protopapas

Thank you, Sarah. Good morning, everyone, and welcome to our financial and corporate update call for the first quarter of 2019. Joining me today with prepared remarks are Dirk Huebner, our Chief Medical Officer; Tim Lowinger, our Chief Scientific Officer; and Dave Spellman, our Chief Financial Officer. We're also joined by Eva Jack, our Chief Business Officer; and Michael Kaufman, our Senior VP of CMC, who will be available for questions and answers.

I'll begin today with a high-level business update and then turn the call over to Dirk, Tim and Dave to provide more details. Since the beginning of the year, we have continued to make important progress in advancing our clinical candidate XMT-1536, furthering our earlier-stage pipeline and ensuring that we have the resources necessary to execute on our business goals.

XMT-1536, our lead asset, is a wholly-owned Dolaflexin ADC targeting NaPi2b-expressing tumors such as ovarian and lung cancer adenocarcinoma. XMT-1536 is a first-in-class molecule with a clinically validated target and a clinical demonstration that we have a highly differentiated molecule with the potential for enhanced efficacy and tolerability.

Let me start with the status of the Phase I dose escalation.