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- **Radio DARPin Momentum**: MP0712 DLL3 Phase 0 imaging starts Q3 2025; 10 Lead-212 product slots secured with Orano Med
- **AML Program Progress**: 533 T-cell engager CR rate 3/8 post-dose adjustment; B-cell depletion amendment in Q2
- **Financial Strength**: CHF149M cash runway to 2027; 2025 opex guidance CHF55-65M
- **Strategic Expansion**: 2024 financing with HBM; AACR 2025 presentations on mesothelin and solid tumor platforms
- **Partnership Impact**: Orano Med's CHF400M Sanofi deal accelerates late-stage manufacturing


**【CEO Opening Remarks】**
- Celebrated 20 years of innovation, emphasizing the company's mission to develop life-changing therapies despite setbacks (e.g., failed COVID-19 drug). 
- 2024 highlights include:
  - Radio DARPin franchise progress (MP0712 DLL3, mesothelin programs)
  - T-cell engager (533) optimization
  - $20M financing with HBM, extending cash runway to 2027
  - Strategic collaboration expansion with Orano Med for 10 Lead-212 products

**【CFO Financial Overview】**
- 2024 Financials:
  - Revenue: CHF5.7M (down from CHF7.7M in 2023, due to Novartis collaboration wind-down)
  - Operating expenses: CHF66M (within CHF65-70M guidance)
  - Net financial result: CHF32M (benefited from high interest rates)
  - Cash balance: CHF149M (down from CHF187M, supporting >3-year runway)
- 2025 Guidance:
  - Total operating expenses: CHF55-65M (non-cash: ~CHF7M)
  - No revenue guidance; focus on pipeline execution

**【Radio DARPin Program Update】**
- **MP0712 (DLL3):** 
  - Preclinical data shows tumor-to-kidney ratio >2:1, with complete tumor regression in xenograft models
  - Phase 0 imaging study (Q3 2025) to establish dosimetry, followed by Phase I/IIa (Q4 2025)
  - 10 patient slots secured with Orano Med for Lead-212 supply
- **Mesothelin Program:**
  - DARPin binds membrane-proximal epitope, avoiding shed antigen interference
  - Preclinical data to be presented at AACR 2025; clinical trial initiation TBD

**【T-Cell Engager (533) Update】**
- AML program optimization:
  - Dose escalation adjustments (e.g., Day 12 boost) improved CR rate to 3/8 patients
  - New amendment (Q2 2025) includes B-cell depletion premedication
  - 2025 focus: evaluate durability and expand to other hematologic malignancies
- Solid tumor platform innovation:
  - Masked CD3 binding and co-activation to reduce on-target toxicity
  - AACR 2025 presentation planned for mechanism-of-action details

**【Q&A Highlights】**
- **MP0712 Clinical Timeline:**
  - IND submission Q2 2025; Phase 0 imaging Q3 2025
  - Therapeutic data expected H2 2026
  - Tumor-to-kidney ratio >1:1 considered favorable
- **Orano Med Collaboration:**
  - 50-50 cost-sharing for MP0712 and mesothelin; Orano Med leads 3/4 programs
  - Sanofi partnership (CHF400M) accelerates late-stage manufacturing
- **Novartis Collaboration Insights:**
  - Lessons on radiotherapeutic design (e.g., tumor-to-kidney ratio optimization)
  - Target selection challenges (e.g., DLL3 validation lagged industry)
  - No immediate plans to restart collaboration


Molecular Partners AG (MOLN) Q4 2024 Earnings Call Transcript

Molecular Partners (MOLN)-26 Aug 22-2022 Q2 Earnings call transcript

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