Wall Street Transcript Interview with James S.J. Manuso, the Chairman and CEO of Astex Pharmaceuticals, Inc. (ASTX)

Wall Street Transcript

67 WALL STREET, New York - September 13, 2013 - The Wall Street Transcript has just published its Biotechnology and Pharmaceuticals Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs and Equity Analysts. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

Topics covered: Health Care - Biotechnology and Pharmaceuticals - Biotechnology and Pharmaceutical Investing - Orphan Drug and Biologics Manufacturing - Oncology Drug Development - Orphan Drugs - FDA Approval Process - Reimbursement Trends

Companies include: Astex Pharmaceuticals, Inc. (ASTX) and many more.

In the following excerpt from the Biotechnology and Pharmaceuticals Report, the Chairman and CEO of Astex Pharmaceuticals, Inc. (ASTX) discusses company strategy and the outlook for this vital industry:

TWST: Let's begin with a brief overview of Astex Pharmaceuticals, including the company's history, products, services and research.

Dr. Manuso: Our company was founded as SuperGen in 1991, undertook an IPO in 1996 and in the recent past, we purchased a company called Astex Therapeutics Ltd., and we rebranded the company to become Astex Pharmaceuticals, Inc.

Let me describe to you where we are today, because that represents the genesis of 20 years of work. We are a global development company and discovery company. We focus on small-molecule drugs for a variety of unmet needs; however, our expertise is really in oncology therapeutics development. We are also the recognized leader in the epigenetics area and also on the discovery interface, fragment-based drug discovery, which I can describe to you a little later.

We have two important medicines in late clinical development undergoing five Phase II trials. The first drug, SGI-110, is a novel hypomethylating agent; and the second, AT13387, is a second-generation Heat Shock Protein 90 or Hsp90 inhibitor. And we have plans for initiating a Phase III trial for SGI-110, the hypomethylator in 2014.

We are a well-funded company. We have revenue-generating products, and indeed we ended the last quarter as of June 30 with $134 million in cash and equivalents. Our marketed drug, Dacogen, is expected to bring in royalties up to $63 million in 2013. In addition, we have significant...

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