Synta Pharmaceuticals Corp. Q3 2008 Earnings Call Transcript

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2008-11-13 12:00:26.0

Tags: Barclays Plc., Call Transcript, Enrollment, Earnings, Synta Pharmaceuticals Corp., Seeking Alpha, Barclays Plc., Call Transcript, Enrollment, Earnings, Synta Pharmaceuticals Corp., Seeking Alpha

Question-and-Answer Session

Operator

(Operator Instructions) Our first question comes from the line of Jim Birchenough with Barclays Capital.

Jim Birchenough - Barclays Capital

Hi, guys, thanks for taking the question. Just on the timelines for the SYMMETRY trial, it seems like a bit of a push out in timelines for completing enrollment, so it begs the question of how confident you are in enrollment completing by February. And then following up on that, once we complete enrollment, if we look at the February timeframe, how confident are you that we will have hit the PFS requirement in terms of number of events at that point?

Safi Bahcall

Well, two questions. One is, last quarter we guided to finishing enrollment by the end of the year or shortly thereafter, and I think we are now very confident we'll finish enrollment by January or February, so we're pretty consistent with what we've been saying for the last several months, and we do want to give ourselves some window just given the holidays and unpredictability.

That being said, we are seeing extremely strong enrollment as high as we have ever seen in any melanoma trial. In terms of hitting the required number of events, we're confident that we will have the required number of events in time to do the analysis shortly after completing enrollment. Does that answer your questions?

Jim Birchenough - Barclays Capital

Yes, I guess I'm trying to get a sense of whether getting the data at this point, whether enrollment or PFS events is going to be the gating item to getting the data?

Safi Bahcall

I think they end up working out so that we can hit those timelines. We're now getting close enough that we have pretty good visibility, and so, we're pretty confident that we will finish enrollment by January or February and we will be able to conduct the analysis very shortly thereafter.

Jim Birchenough - Barclays Capital

And I can't remember, Safi, but have you said how many events underlie the interim analysis that we'll be getting in December?

Safi Bahcall

No, I think we're not allowed to get into that level of detail about the DMC charter.

Jim Birchenough - Barclays Capital

Okay, final question is just on the financial side. As you look at the burn being mitigated somewhat by the cost sharing with GSK next year, how much runway do you have in terms of cash? Do you think you've got more than a year? Just trying to get a sense of how far out this cash at year-end takes you if you don't assume any further milestones beyond the $10 million in the first quarter?

 

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