Astex Pharma $ASTX (formerly Supergen $SUPG) notes from Rodman and Renshaw 9/12/11

• After completing merger between Supergen and Astex Therapeutics, the combined company is now called Astex Pharma and has symbol ASTX
• Detailed info on the company can be found on the (renamed) ASTX research page.
• See my notes below from ASTX presentation at Rodman and Renshaw conference on 9/12/11 (click here for complete webcast schedule and links to my notes)

• We anticipate >$57m revenue from dacogen this year
  
• sNDA filed for elderly AML, PDUFA march 2012, should hear from EMEA shortly thereafter
• Dr Joty (new President from Astex) - clinical pipeline review:

AT13387 HSP90 inhibitor

• fragment based, non ansamycin 2nd generation inhibitor
• most frequent toxicity is managable GI issues
• have seen early clinical responses, especially in unresectable or metastatic GIST, a focus area for us
• starting phase 2 in TKI-resistant GIST patients. Combo of hsp90 inhibitor with TKI imatinib 400 mg daily and at13387 weekly 3 of 4 weeks
• have broad CRADA with NCI - started phase 1 with 2x weekly doisng on consecutive days
• company-sponsored phase 1 - once and twice weekly dosing. some evidence of SD in GIST, one PR
• talking about starting development in other tumors

SGI110

• 2nd generation hypomethylator. weekly or daily subcutaneous dosing. Active agent is decitabine (Dacogen) itself
• phase 1/2 MDS and AML trial ongoing - sounds like still in dose escalation phase
• expansion phase can include treatment-naive patients

Amuvatinib

• inhibits repair of DNA double strand breaks, which is the rationale for synergy w/ DNA damaging chemotherapy agents w/o overlapping toxicity
• slide says phase 2 initiated...but why not indicated on pipeline slide...not mentioned orally

AT7519

• CDK inhibitor...blocks RNA transcription...may be effective in CLL, NCI Canada will be initiating phase 2 in CLL/MCL
• also working with MMRF on phase 2 in multiple myeloma- combo with velcade

AT9283 

• aurora and jak2 kinase inhibitor
• potential for oral or IV administration, 30% oral bioavailability
• phase 1 complete in solid and hematological cancers
• phase 2 MM ongoing with NCIC
• phase 1 in pediatric cancers ongoing
• subject of potential outlicenisng

Proposed Montigen spinout would have the following assets:

1. phase 2 drug AT9283
   
2. preclinical PIM kinase and PKM2 activators
   
3. CLIMB discovery platform
   
4. $2m investment in first round alongside proposed reverse takeover of public company [edit/note: this is a change from prior comments regarding raising money for Montigen...first mention of reverse takeover]
   
5. assets from Ascalon - phase 2 IV fenretinide for PTCL, CTCL, neuroblastoma, mangement, facilites
   
6. Astex receives milesones, royalties, equity
   

• guidance  $64m 2011 revenue
• expenses $77m, of which $13.5m is non cash or on-time related to merger and RIF
• reduce from 184 employees to 140 by ye2011
• no webcast q&a session

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