Mersana Therapeutics, Inc. (NASDAQ:MRSN) Q1 2024 Earnings Call Transcript

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Martin Huber: We are not getting into the details of our specifics of the biomarker. It is IHC. I think we’ve confirmed that. But what I think we can say is one of the reasons we are taking a little more time in dose-escalation and optimization in addition to the optimizing dose is it does allow us to generate a larger data set of patients in which we can further understand the biomarker to define such as what is the right biomarker, what is the right cut point, et cetera. So these patients that we’re using for dose- escalation backfill are helping us understand that as we go into expansion and pivotal studies.

Ashiq Mubarack: Okay. That’s very clear. And then one more on the sequence of events in the second half of the year. I think before the plan was to announce the initiation of the expansion cohorts and then share the data. Is that still your thinking? Or is this all going to be kind of at once now in the second half of the year?

Martin Huber: Yes. We haven’t predefined that. So really, the guidance that we’ve shared for both entering expansion and sharing clinical data, we’re just going to leave it at second half for the time being.

Ashiq Mubarack: Okay. Thanks very much.

Operator: [Operator Instructions] Our next question comes from Colleen Kusy of Baird. Please go ahead.

Colleen Kusy: Thanks. Good morning and thanks for taking our questions. Are you able to clarify whether the multiple responses you’re seeing are it one or multiple tumor types? And then can you just confirm whether the biomarker data will be in the second half data update?

Martin Huber: Yes. So Colleen, we’re not going to give more specifics than what we’ve already shared on responses. And in terms of the biomarker, I would say we’re not going to commit to that today. It’s something that we’re looking very closely at. But that decision will be made at a later date.

Colleen Kusy: Understood. Thank you. And then for the expansion cohorts, would you plan to run multiple dose levels for an expansion? Or would you select just one?

Martin Huber: At this point in time that’s still — the protocol gives us the option of multiple doses. And I think that will really — I think in a project optimist environment, at some point in time, you are going to have to study more than one dose. The exact timing of when you do that is something that is flexible. And we will be considering it. I think — but we do have the option, should we feel we need to do that expansion, we can.

Colleen Kusy: Great. Thanks for taking my questions.

Operator: The next question comes from Asthika Goonewardene of Truist. Please go ahead.

Asthika Goonewardene: Hey guys. Thanks for taking my follow-up. Just a one quick one, what’s the most important next step right now? Is it pushing to a higher dose level or optimizing exposure? I think you kind of alluded to this already, but I just want to confirm. Thank you.

Martin Huber: I think, it’s an element of both, but really, it’s — from our point of view now as we better understand how our drugs work, it is this focus on exposure and really getting an optimal dose that we’re confident in, that when we take it into expansion, we’re not going to have to further modify the dosage schedule. That’s ultimately, that’s really what’s most important.

Asthika Goonewardene: Thanks. That’s really clear. Appreciate it.

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

Martin Huber: Thank you, operator, and thanks, everyone, for dialing in. We have several investor events that are taking place over the next several weeks, including going to be at Cowen, Oncology Summit as well as at the Goldman Sachs, Healthcare Conference. We hope to see some of you there. And that includes the call, operator. Thank you.

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

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