Mersana Therapeutics, Inc.

Good morning, and welcome to Masana Therapeutics' fourth quarter and year-end 2020 conference call. Currently, all participants are in a listen-only mode. There will be a question-and-answer session at the end of the call. I would now like to turn the call over to Sarah Karmoudi, Executive Director, Investor Relations and Corporate Communications. Please proceed.

Welcome to Mursana's fourth quarter and year-end 2020 conference call. We issued a press release earlier this morning reviewing our fourth quarter 2020 and full year financial results and business updates, which will be covered on this call. A replay of today's call will be available on the investors and media section of our website. After our prepared remarks, we will open the call for Q&A. Before we begin, I'd like to mention that our call will contain forward-looking statements within the meaning of federal securities law. These are not statements of historical facts and are based on management's beliefs and assumptions and on information currently available. They are subject to risks and uncertainties that could cause the actual results and the implementation of the company's plans to vary materially, including the risk that preclinical testing or early clinical results may not be predictive of the of the results or success of our ongoing or later preclinical or clinical studies, that the identification, development, and testing of the company's product candidates and new platforms will take longer and or cost more than planned, and that our clinical studies may not be initiated or completed on schedule, if at all. These risks are discussed in the company's SEC filings, including, without limitation, the company's annual report on Form 10-K, filed on February 26, 2021, and subsequent filings. In addition, while we expect that COVID-19 pandemic might adversely affect the company's preclinical and clinical development efforts, business operations, and financial results, the extent of the impact on the company's operations and the value of and market for the company's common stock will depend on future developments that are highly uncertain and cannot be predicted with confidence at this time, such as the ultimate duration of the pandemic, travel restrictions, quarantine, physical distancing, and business closure requirements in the U.S. and in other countries, and the effectiveness of action taken globally to contain and treat the disease. Except as required by law, the company assumes no obligation to update these forward-looking statements publicly, even if new information becomes available in the future. With that, I will turn the call over to Anna Protopopis, Mursana's President and Chief Executive Officer.

Thank you, Sarah. Good morning, everyone, and welcome to our fourth quarter and full year 2020 Corporate and Financial Update Call. Joining me today with prepared remarks are Arvind Yang, our Chief Medical Officer, Tim Loinger, our Chief Science and Technology Officer, and Brian Descheidner, our Senior VP of Finance and Strategy. I'm also joined by the rest of the executive team who will be available for your questions, including the newest member, Carla Paulson, our Chief Human Resources Officer who joined us in January. Before we start, I want to take the opportunity to introduce Carla. Carla brings with her substantial organizational and talent development experience, which will be crucial as we scale MERSANA to accommodate our robust and maturing pipeline of ADC candidates. Most recently, Carla was Chief Human Resources Officer at Axia Therapeutics, where she played an integral role in building the organization. Before joining AXIA, she served in multiple roles at Vertex for over a decade, including as head of international human resources, where she was instrumental in helping build the Vertex European organization to over 250 employees in just two years. Welcome, Carla. We are thrilled to have you on board. Moving on to the business update. At Mersana, We aspire to become an ADC leader by leveraging our innovative platform to bring important medicines to cancer patients. 2020 was a transformational year for us. We established the potential of our brief to benefit heavily pre-treated ovarian cancer patients and advanced an innovative pipeline of ADCs addressing areas of high-end med need, including XMT-1592, XMT 1660, and XMT 2056, all while strengthening the organization to deliver on the next stage of evolution of MERSADA. In 2021, we're taking the next step in our journey. Our focus is twofold, building upgrades and building out our innovative pipeline. With respect to building upgrades, We will be initiating Uplift, a single arm registration study informed by FDA feedback. In addition, we will set into motion studies designed to bring upward to patients in earlier lines of therapy as we seek to establish it as a foundational medicine in ovarian cancer. Arvind will describe the design of Uplift and the significant potential advantages of our differentiated design. Arvind would also describe upgrade, a first step in a life cycle management plan we will share with you over time. With respect to building out the pipeline, we will work to complete the evaluation of our two NAPI-TP targeted agents in Long Island of Carcinova, UPRI and XMT 1592, and set a clear strategy for next steps, as well as work to advance XMT 1660 and XNT 2056 through IND enabling studies. In parallel, we will continue to leverage our innovative platforms to discover and bring forward additional ADCs that address areas of unmet medical needs. Both Arvind and Tim will describe in more detail our efforts in continuing to build out our pipeline. With the accomplishment of our 2021 goals, we could achieve another transformational year for MERSANA. 12 months from now, we could be substantially enrolled in our pivotal study for UPRI with multiple life cycle management studies underway. And we anticipate having a clear strategy for the potential of NAPI to be lung adenocarcinoma patients and having two new molecules in the clinic. Accomplishment of these goals would put the next stage of transformational MERSANA in sight. the potential for completing our first pivotal study and preparing to launch our first commercial ADC. With that, I would like to turn the call over to Arvid to review Uplift and our Uplift lifecycle management studies we are planning, and then to Tim to review the advancement of our pipeline.