Here are my notes from the presentation on 3/14/11. I will also update the SNTA research page with the relevant news from this conference. Note also that CEO bought 5000 shares @ $4.45 on 3/15/2011.
As always, my notes don't include all the info presented- I listen for either new/better explanations of issues previously discussed, and for actual new or revised comments/expectations. So check out the research page link above if you need more background.
Ganetespib:
Rest of Pipeline/General
As always, my notes don't include all the info presented- I listen for either new/better explanations of issues previously discussed, and for actual new or revised comments/expectations. So check out the research page link above if you need more background.
Ganetespib:
- Additional presentations at TAT meeting confirm that scientific and medical community see ganetespib as leading HSP90 inhibitor in development
- The ganetespib canine naturally occurring tumor trial (photos of shrinkage have been frequently shown in SNTA slide decks) will be published this year
- Competing HSP90 drugs AUY992 and Astex drug displayed >80% and >50% ocular toxicity, the mechanism of action of this eye tox was presented by PFE in November 2010 and has to do with solubility of the drugs- ganetespib is less soluble and does not accumulate in the affected layer of cells in the retina
- Have seen durable responses with single agent ganetespib in pts with multiple tumor types
- The only trial SNTA is funding currently in the NSCLC lead program. Several more investigator/group sponsored trials will initiate around mid year 2011
- Recent p2 lung cancer data: patients enrolling in the trial were required to have progressive disease (tumors growing with some velocity, cannot have stable disease)- makes clinical responses all the more difficult. Still, saw shrinkage in about 1/3 of pts as single agent. These pts have failed an average of 3 prior therapies and generally progress in about 8 weeks.
- SNTA will present a larger, updated safety database soon- perhaps at an analyst day in New York in the next few weeks
- The small, defined pt population option would mean about 3000 NSCLC patients (compare to PFE ALK inhibitor), where combo indication with taxanes would be 100x larger
- The ability to sensitive tumors to radiotherapy would be a larger market than all chemotherapy combined
- p2b trial will begin enrolling in the next few months, working now with CROs to initiate trial sites
Rest of Pipeline/General
- Elescomol is part of growing understanding of cancer metabolism field. In hypoxic tumors (low oxygen), the mitochondria are inactive, and as a result, LDH is detected in blood. This is an indicator that elescomol will NOT work (this is what sunk the phase 3 trial in melanoma--low LDH subgroups had stat sig clinical benefit in 3 randomized trials- 2 melanoma, one lung cancer upon post-hoc analysis)
- $51m chas ye-2010 plus $35m equity standby facility could take company thru 2012
- Changed language/slide deck to be even more bullish on partnerships- now saying one or more deals first half of 2011 (had been saying this year)
- Additional ganetespib data from p2 lung cancer trial will be released mid-year 2011
- Company has over 700 issued/pending patents and has COM protection worldwide on ganetespib and elescomol into the 2020's. Other formulation/biomarker patents could extend years more.
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