- LGND (click for stock research page) presented 10/21 at the BioCentury Newsmakers Conference (find webcast link and complete biotech webcast calendar on Upcoming Events page)
- Continue reading for my complete notes from the presentation:
- 2012 forecasting modest sales growth, about $30m revenue, principally off 5 products, most of which have just launched, sales building out still
- data presentaiton by GSK on November 7th- late breaker abstract at AASLD
- promacta has the potential to be top 10 drug, multi billion dollar sales in next few years
- there have been good drugs on the market for red and white blood cells, this is first drug for low platelets
- expect ENABLE 2 data perhaps at ASH [I had guessed this too, but I am not sure if they really have any insight into this from GSK...they did not get any advance notice on ENABLE 1 disclosure of success]
- 3 highlights (see above link for full abstract data):
- 95% of patients were able to start antiviral therapy
- SVR at 1 yr in 23% of promacta arm (the primary endpoint, p=0.006 vs placebo)
- no difference in adverse events (AE)
- LGND- unique way of tapping into Chinese market. We have many assets with US and EU clinical data, plus drug supply available. There is now unprecedented public and private money to bring in Western drugs for development
- PFE had multiple SERMs for osteoporosis due to Wyeth merger (both devleoped with LGND)...returned Fablyn rights to LGND, who relicensed to Chiva. Product could launch in Europe within a year or so, China in a couple years.
- There are numerous sugar based formulations, but Captisol is the best
- carfilzomib - believe NDA should be accepted by year end 2011...consensus is that drug could do $1b in peak sales if not closee to what Velcade is doing
- SAGE new private company with $30m from Third Rock for CNS. They have good unannounced agents with solubility problems. We are due success based milestones and royalties
- LGND twitter feed- 51 tweets in 5 months of significant info that company did not feel need to issued PR for
- Company's operating costs going forward are in the low to mid $20 millions. About 1/4th of this is noncash
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