Financial Data and Key Metrics Changes - Collaboration revenue from the Kyowa Kirin partnership for Q1 2025 was $14.1 million compared to no revenue in Q1 2024 [20] - Research and development expenses for Q1 2025 were $56 million compared to $36.3 million for Q1 2024 [20] - General and administrative expenses for Q1 2025 were $22.8 million compared to $18.2 million for the same period in 2024 [20] - Net loss for Q1 2025 was $57.4 million compared to a net loss of $49.5 million for Q1 2024 [20] - As of March 31, 2025, the company had cash, cash equivalents, and short-term investments of $658.2 million compared to $727.4 million as of December 31, 2024 [21] Business Line Data and Key Metrics Changes - The Ziftamenib development program achieved its primary CRCRH endpoint in the Phase II trial for relapsed/refractory NPM1 mutant AML, with data to be presented at the 2025 ASCO Annual Meeting [11][12] - The company announced the first patients with advanced gastrointestinal stromal tumors (GIST) were dosed with the combination of Ziftamenib and imatinib [8] Market Data and Key Metrics Changes - The company is focusing on the NPM1 mutant AML market, which represents approximately 30% of new AML cases annually, indicating a significant unmet need [10] - The company is also targeting advanced GIST patients, where current treatment options are limited [15] Company Strategy and Development Direction - The company aims to commercialize Ziftamenib in acute myeloid leukemia (AML) and is preparing for multiple clinical data updates throughout the year [6][7] - The strategic partnership with Kyowa Kirin is expected to provide greater development, commercial, and operational resources, enhancing financial stability [19] - The company plans to initiate the COMMENT-seventeen Phase III trials in the second half of 2025, focusing on both intensive and non-intensive treatment regimens for AML [14][23] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the potential for Ziftamenib to impact patients with relapsed/refractory NPM1 mutant AML, citing a collaborative relationship with the FDA [10] - The company is monitoring the macro landscape and believes the impact from tariffs will be negligible [19] Other Important Information - The company has a strong cash position, with sufficient capital to fund the Ziftamenib AML program to commercialization and advance its pipeline [21] - The company is preparing for upcoming milestones, including presentations at major oncology meetings and the initiation of new trials [23] Q&A Session Summary Question: Expectations for combo data coming later this year - Management emphasized safety as the top priority for the combination data and confirmed they are on track to start the study in the second half of 2025 [26][29] Question: Impact of regulatory changes on approval process - Management stated there have been no disruptions from regulatory changes and they expect to receive notification from the FDA regarding the application review in the second quarter [33][36] Question: Market share strategy for NPM1 market - Management believes they are not necessarily second to market and are prepared to compete aggressively for patients [66][70] Question: Patient segments responsive to GIST combination - The combination approach is expected to be mutationally agnostic, potentially benefiting both imatinib-refractory and naive patients [74][75] Question: Enrollment timeline for pivotal trials - Management indicated that there should not be a drag on enrollment for frontline trials, as no menin inhibitor is currently approved for that patient population [114][116]

Financial Data and Key Metrics Changes - Collaboration revenue from the Kyowa Kirin partnership for Q1 2025 was $14.1 million compared to no revenue in Q1 2024 [19] - Research and development expenses for Q1 2025 were $56 million compared to $36.3 million for Q1 2024 [19] - General and administrative expenses for Q1 2025 were $22.8 million compared to $18.2 million for the same period in 2024 [19] - Net loss for Q1 2025 was $57.4 million compared to a net loss of $49.5 million for Q1 2024 [19] - As of March 31, 2025, the company had cash, cash equivalents, and short-term investments of $658.2 million compared to $727.4 million as of December 31, 2024 [20] Business Line Data and Key Metrics Changes - The Ziftomenib monotherapy Phase II registrational data were accepted for oral presentation at the 2025 ASCO Annual Meeting, indicating significant progress in the AML program [5][10] - The company announced the first patients with advanced gastrointestinal stromal tumors (GIST) were dosed with the combination of Ziftomenib and imatinib, marking a key milestone in the GIST program [6][14] Market Data and Key Metrics Changes - Approximately 30% of new AML cases annually are represented by NPM1 mutant AML, highlighting a significant unmet need in the market [9] - The company anticipates presenting preliminary clinical data from multiple Phase Ib expansion cohorts later this year, which will inform the market's understanding of Ziftomenib's potential [12][16] Company Strategy and Development Direction - The company aims to build a fully integrated organization and has appointed Sameer Vatompadam as Senior Vice President, Global Program Leadership to enhance its capabilities [6] - The strategic partnership with Kyowa Kirin is expected to provide greater development, commercial, and operational resources, as well as increased financial stability [18] - The company plans to initiate two independent Phase III registration enabling trials in frontline intensive and non-intensive AML in the second half of 2025 [22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential for Ziftomenib to impact patients with relapsed/refractory NPM1 mutant AML, citing a collaborative relationship with the FDA [9] - The company is prepared to adapt to the rapidly evolving macro landscape and believes the impact from tariffs would be negligible [18] Other Important Information - The company expects to present full data for the COMET-one trial in Q2 2025 at ASCO and anticipates sharing data from the FIT-one trial evaluating KO2806 in the second half of 2025 [22] - The company has received feedback from institutions and investigators that the design of the COMMIT-seventeen trial is attractive due to its simplified trial startup and conduct [13] Q&A Session Summary Question: Expectations for combo data coming later this year - Management emphasized safety as the top priority and is on track to start the study in the second half of 2025 [25][27] Question: Impact of regulatory changes on approval process - Management stated there has been no impact from regulatory changes and remains optimistic about the FDA's responsiveness [32][34] Question: Market share strategy for NPM1 market - Management believes they are not necessarily second to market and is focused on a competitive strategy to capture market share [64][66] Question: Patient segments responsive to GIST combination - Management indicated the approach is mutationally agnostic, allowing for use in both imatinib refractory and naive patients [72][74] Question: Enrollment timeline for pivotal trials - Management confirmed that there should not be a drag on enrollment for frontline trials due to the approval of Ziftomenib [112][113]