Synta Pharma: notes from 4/15 Biocentury Future Leaders webcast

• Click here to access the webcast link and to see what other companies I have posted notes for from this conference
• Click here to access the SNTA due diligence research page
• All pipeline compounds from internal discovery platform
  
• Ganetespib and Elesclomol- biomarkers enable enriching strategy
• Equity offering announced today- was insider driven, self managed, did not use a  placement agent or underwriting company... Board of Directors (3 individual members according to this afternoon's SEC filing bought 1.5m of the 7.2m shares sold) felt company was attractively valued in advance of upcoming events- including increased visibility and momentum as enter large pivotal program and numerous additional trials "as well as some partnerships that we expect to come in the 2nd half of the year."  A number of institutional investors came in alongside the BoD. 70% of shares were bought by long-only mutual funds. sThis strengthens balance sheet as go into partnerhsip discussions, expected later this year
• ganetespib 2b data late 11 or early 12
• inhib hsp90- prevent protein binding leading to degradation
• reactive moitety of 17aag molecule linked to liver tox
• 2nd gen HSP90 inhibitors- structurally distinct from 17aag - but several have ocular tox
• goal and clinical need 1) improved potency, 2) no iver or eye tox 3) clear single agent activity- SNTA drug has all 3
• gan: median 47x more potent than 17aag in >100 cancer cell lines surveyed, much smaller molecule
• astex >50% ocular tox at MTD of 120 mg/m2 biweekly
• auy922 89% at 70 mg/m2 weekly
• PFE announced several months ago terminated snx5422 also for ocular tox
• 17dmag shows retina apoptosis slide 12
• 17aag and gan- diff chem properties, no accum in eye
• several more gan studies starting later this year inc radiation sensitization
• In the NSCLC p2 trial- SD pts not allowed to enter the trial- must have tumor growth as entering the study- unusual compared to some other trials
• single agent biomarker exanmples: Crizotinib PFE and PLX4032 Roche/Plexxikon
• careful, thoughtful clinical program- not rush into 800 pts p3 trial as we have been encouraged to do.
• target one or more partnerships from leading 3 programs (gan, eles, cracm) in 2011