Turning Point Therapeutics Inc (NASDAQ:TPTX) Q3 2019 Earnings Conference Call - Final Transcript

Nov 04, 2019 • 04:30 pm ET


Turning Point Therapeutics Inc (NASDAQ:TPTX) Q3 2019 Earnings Conference Call - Final Transcript


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Good afternoon, ladies and gentlemen, and welcome to the Turning Point Therapeutics Third Quarter 2019 Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. [Operator Instructions] As a reminder, this conference call is being recorded.

I would now like to turn the conference over to your host, Mr. Jim Mazzola, Senior Vice President. Please go ahead.

Jim Mazzola

Okay. Thank you, Ella, and good afternoon, everyone. Following market close today, we filed our Form 10-Q for the third quarter, issued a news release with a summary of our results and updated our investor presentation. You may find all of these documents posted on the Investor pages of tptherapeutics.com.

Leading our call today will be Turning Point's President and Chief Executive Officer, Dr. Athena Countouriotis, who will provide an overview and update on our business results followed by a review of third quarter financials by Yi Larson, our CFO. We will take questions following our prepared remarks.

Before Athena begins, I want to remind you that during this conference call, we will be making forward-looking statements. The Company's actual results may differ materially from those expressed in or indicated by such forward-looking statements. For a description of risk factors associated with investing in Turning Point Therapeutics, please refer to our recent filings with the Securities and Exchange Commission including our prospectus and quarterly filings.

Now, let me turn the call over to Athena.

Athena M. Countouriotis

Thank you, Jim, and good afternoon to everyone joining us today. I am happy to be joined by our Chief Financial Officer, Yi Larson on today's call.

I am very proud of the progress our team has made over the past quarter and year-to-date. This year, we outlined multiple important milestones for 2019 and as of today, I am very pleased with the progress towards accomplishing them.

During today's call, I will give you an update on each milestone. Before I get into the details, I want to start by highlighting reasons why we believe Turning Point is a differentiated precision medicine company. At Turning Point, we have internally discovered and developed our wholly-owned pipeline of next-generation tyrosine kinase inhibitors or TKIs that target numerous genetic drivers of cancer namely ROS1, TRK, ALK, MET and RET for use in those TKI-naive and TKI-pretreated patients. Our macrocyclic platform has enabled us to design multiple, small and compact kinase inhibitors with the potential to overcome the limitations of conventional TKIs. One of the limitations of conventional TKIs is the pervasive challenge of intrinsic and acquired resistance that often limits the response rate and durability of response with existing therapies. One challenge is the emergence of mutations in an area of the kinase called the solvent-front, which is a common cause of acquired resistance to currently approved therapies for ROS1, TRK and ALK.

In addition, we believe solvent-front mutations will arise from current approved and investigational RET inhibitor and that our macrocyclic platform has generated TKIs that