John Miller

On behalf of John Miller from Evercore, an analyst asked about the key differentiating factors for ZW1528, questioning the relative contributions of its bispecific design versus its long half-life, and inquired about the planned dosing strategy for ZW251.

Answer

CSO Paul Moore explained that for ZW1528, both the bispecific targeting of IL-4/IL-33 and the half-life extension are integral design features for achieving superior efficacy. SVP of Clinical Development Sabeen Mekan stated that for ZW251, they can pursue a less conservative starting dose due to strong preclinical safety data and clinical experience with the same payload from the ZW191 program.

Jon Miller asked if the share repurchase program achieved its goals, about the potential for future business development deals, and how the company's ADC technology addresses tumors with variable antigen expression.

Answer

CEO Kenneth Galbraith affirmed the share repo's success and noted the company still feels undervalued. He stated that while the pipeline is wholly-owned, they expect to form partnerships to accelerate development. CSO Dr. Paul Moore explained their ADC design uses a multi-pronged approach, combining on-target effects, bystander activity, and a controlled payload release to effectively treat tumors with heterogeneous expression.

Asked about unseen Phase 1 data for the new Vobaduo expansion cohorts, the strategic shift to pursue these indications now, and the differentiation of the MGC-026 ADC from other Topo-1 ADCs.

Answer

Scott Koenig confirmed there is still unpublished Phase 1 data for other indications. The decision to expand now is based on prior interest, promising activity in other cancers, and the potential for an improved safety profile. For MGC-026, he highlighted its potential advantages, including a more potent payload (exatecan), less susceptibility to drug resistance, and a design that may reduce lung toxicity (ILD) seen with other ADCs.