GTCB CC
For anyone who missed the conf call, there was nothing earthshattering, but some observations and clarifications:
1) Generally the tone about Atryn progress was upbeat. The CEO signed off with the metaphor, "We have the wind in our sails". The recent meetings with EMEA reportedly went very well. He anticipates successfully responding to EMEAs' additional questions by July and decision by end of Oct, which could result in marketing approval in Europe by EOY. He emphasized that the questions are mostly of the type that would be asked of any new recombinant protein and that "this is adequate time" to respond.
2) He borders on grandioity, IMO, with projections of Atryn market exceeding $700 million for AT deficiency alone and alludes to an additional, but unproven market for other indications.
3) Still no antibodies detected after treating >200 patients with ATryn.
4)In response to questions from DEW and URCHE, CEO clarified that all (both) projects with ELAN are completed. However, this sounds like it was a very successful collaboration in which all of GTCB's milestone responsibilities were met. The program has entered maintenance mode which typically means keeping founder animals healthy, costs borne by the sponsoring company, no cost to GTCB. In Elan's case, the form of maintenance sounds like it is still being negotiated.
As DEW so aptly put it, the CC confirms the impression that at this point it is GTCB's "game to lose".
Urche
AI
Market Data 
Markets 
