- Myrexis presented 9/12 at Rodman and Renshaw conference, along with most of the biotech stocks I cover - click here for full schedule and links to my notes.
- Find more detailed information on MYRX research page.
- See below for my full webcast notes:
- no slidedeck available...Presenter was CEO who accidentally still called himself CFO
- all programs (2 oncology one autoimmune) backed by issued or pending COM patents
- we plan to partner programs as appropriate to optimize shareholder value
- coming out of phase 1 - most advanced programs
- we just revealed hsp90 structure this year. We believe it has the potential for best in class using prodrug. fully synthetic
- we will present phase1 data later this year at EORTC (new disclosure of actual venue)
- we plan to open IND with prodrug in 1q2012 (timeline slip I believe)
- some mutant oncoproteins rely on hsp90 to maintain activity
- produg significantly improves solubility and PK, reduces COGS, risk of side effects [weak argument...Captisol is safe and proven], and tablet burden
- we believe ability to create this produg with superior properties is uniqe to MYRX, confers significant competitive advantage over competitors. [MYRX is significantly more excited about "prodrugging" than most, see for example this post]
- only parent molecule MPC-3100 is found in plasma. We expect to move prodrug 0767 rapidly into clinic behind 3100
- 3100 Interim data released - achieved target plasma drug concentrations that were tolerable, reached early on in study. saw grade 1 diarrhea - typical of hsp90 class
- presented preclinical data on previous lead mpc9528. new lead is also a produrug mpc8640. improves solubility and PK, flexibility for oral or IV formulation as we explore options for taking into clinic
- 8640 is moving forward into IND enabling studies, hope to be in the clinic with this compound next year
- Program is in lead compound optimization stage.
- first in class with pmol affinity for TBK1 and IKKe and highly selective vs 120+ other kinases
- demonstrated preclinical activity in collagen-induced rheumatoid arthritis (RA) mouse model. This model has history of being predictive of human response
- once lead optimization is complete, we will advance lead compound into IND enabling studies [so this program is behind the other two prodrugs in development]
- $116m cash 6/30/11, used about $33m last year. expect that number to decline in current fiscal year
- Goals for next 12 months:
- phase 1 3100 results
- file IND for 0767 and move hsp90 program into phase to by end of fy12 (6/30/11)
- 8640 into clinic in 2012
- OAI complete additional animal studies in different autoimmune models and advance into IND-enabling studies
q&a session:
- what differentiates your hsp90 program? so many failures, why go forward? we have not seen any significant toxicities, as will come out in our p1 data. We have not reached DLT with 3100. orally bioavailable - potential advantage of continuous oral dosing vs other synthetic hsp90 inhibitors.
- OAI -couldn't hear question... not something i'd have the qualifications to comment on. can get you an answer
- burn going forward post-azixa? we don't give a lot of guidance on burn, hard to project how and how fast programs will ramp up. The restructuring in March 2011 was to provide $7.8m yearly savings. Azixa program was project to burn $12-13m, that amount is off the table. But we will more aggressively move earlier programs forward, will eat into some of that savings. We will also evaluate realigning our current structure to better align with needs for us as we work just on earlier stage programs