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Array BioPharma's CEO Presents At Morgan Stanley Healthcare Conference - Transcript

Stocks in this article: ARRY

For those who are familiar with the company, there are two really remarkable things about Array. One is our ability to discover products compounds that stand at test of time, so INDs have been filed on 18 Array invented compounds, 15 of those are still in development, and 10 of those are in Phase 2 which is pretty remarkable track record.

The other is the ability to attract and enter into very valuable partnerships with great companies such as AstraZeneca, Novartis, Celgene, Roche, Amgen and others. And perhaps there is importantly to garner very impressive financials, so just last year we entered into an agreement with Genentech on Chk-1 preclinical compound in a tough biotech market $30 million upfront, as many as $700 million in milestone and double-digit royalty.

In total in fact, if you look at our partnered portfolio, we have as many as $3.4 billion in potential milestones before royalty. And just in the last two to three year's we raised $170 million worth of non-dilutive financing from the partnerships.

So, I'll just talk for a couple of minutes about our internal pipeline and touch on our partnered pipeline and then open up for some questions. So, of the five products which we see potential entering Phase 3 and by the end of next year two of those (inaudible) products. So, as of our last quarter call we have been very clear that internally we are focused on developing and commercializing HemOnc product.

Our first product is ARRY-614 for myelodysplastic syndromes and we are targeting and publishing about 100,000 Int-1 low risk myelodysplastic syndrome patients let's say about two-thirds of the total. We are looking within that group at HMA failures patients who have no choice, no other therapeutic option and have a very poor prognosis. So, thus far we have shown that a 40% response rate with multi-lineage response in that population, we are setting a new much more potent formulation, more bio available and expect that data to fully mature by the beginning and next year.

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