8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 13, 2014 (March 10, 2014)

TESARO, Inc.

(Exact name of registrant as specified in its charter)

Delaware
(state or other jurisdiction of incorporation) 001-35587
(Commission
File Number) 27-2249687
(I.R.S. Employer
Identification No.)

1000 Winter Street Suite 3300 Waltham, Massachusetts	02451
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code:  (339) 970-0900

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 1 — Registrant’s Business and Operations

Item 1.01Entry into a Material Definitive Agreement.

On March 10, 2014, TESARO, Inc. and its wholly-owned subsidiary TESARO Development, Ltd. (collectively, “TESARO”) entered into a Collaboration and Exclusive License Agreement (the “Agreement”) with AnaptysBio, Inc. (“AnaptysBio”), a privately-held therapeutic antibody company located in San Diego, California.  Under the terms of the Agreement, TESARO has obtained an exclusive, royalty-bearing, sublicenseable worldwide license to research, develop, manufacture, market and sell products based on AnaptysBio’s proprietary technology for the discovery, generation and optimization of antibodies targeting certain immune checkpoint proteins.  Specifically, TESARO received exclusive rights to monospecific antibody product candidates targeting TIM-3, LAG-3 and PD-1 and dual-reactive antibody product candidates targeting PD-1/TIM-3 and PD-1/LAG-3.  AnaptysBio will be responsible for performing initial discovery and certain pre-clinical development activities for therapeutic antibodies selected through the collaboration.  TESARO is solely responsible for clinical, regulatory and other activities necessary to develop and commercialize antibodies selected under each of three development programs, and will share responsibility for pre-clinical activities with AnaptysBio.

Under the terms of the Agreement, TESARO is obligated to make an up-front, non-creditable and non-refundable cash payment of $17.0 million to AnaptysBio.  TESARO is also required to reimburse AnaptysBio, on a quarterly basis for up to two years from the effective date of the Agreement, for specified costs incurred by AnaptysBio for its discovery pre-clinical development activities covered by the Agreement.  For each of the three development programs, TESARO will also be required to make milestone payments to AnaptysBio of up to $18.0 million if certain research and development milestones are achieved, and up to an additional $90.0 million of milestones if certain U.S. and non-U.S. regulatory submissions and approvals occur in initial and subsequent indications.  TESARO will also be required to pay AnaptysBio tiered single-digit royalties, on a product-by-product basis, based on the amount of worldwide annual net sales achieved, and additional commercial milestone payments if specified levels of annual net sales of a product are attained.

The Agreement expires on the earliest date after which no further payments are due to AnaptysBio, unless earlier terminated.  Either party may terminate the Agreement in the event of an uncured material breach by the other party.  TESARO may terminate the Agreement in its entirety or terminate a program, at any time, upon 90 days prior written notice to AnaptysBio, subject to a wind-down period during which TESARO’s obligation to reimburse AnaptysBio for specified costs would continue.

Section 7 — Regulation FD

Item 7.01Regulation FD Disclosure.

On March 13, 2014, TESARO issued a press release announcing the Agreement.  A copy of the press release is attached to this report as Exhibit 99.1 and is incorporated herein by reference.  TESARO has scheduled a conference call and webcast for 8:30 a.m. Eastern time on March 13, 2014 to discuss the Agreement.  Slides for that call and webcast are attached to this report as Exhibit 99.2 and are incorporated herein by reference.  Exhibit 99.1 and Exhibit 99.2 are being furnished to the Securities and Exchange Commission and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liabilities under that section.  Furthermore, such information shall not be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

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Section 9 — Financial Statements and Exhibits

Item 9.01Financial Statements and Exhibits.

(d)Exhibits.

Exhibit No.	Description
99.1	TESARO, Inc. press release dated March 13, 2014 announcing Collaboration and Exclusive License Agreement (the “Agreement”) with AnaptysBio, Inc.
99.2	TESARO, Inc. slides for March 13, 2014 conference call and webcast.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	TESARO, Inc.
	By:	/s/ Edward C. English
		Edward C. English
		Vice President of Finance and Administration
Dated: March 13, 2014

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EXHIBIT INDEX

Exhibit No.	Description
99.1	TESARO, Inc. press release dated March 13, 2014 announcing Collaboration and Exclusive License Agreement (the “Agreement”) with AnaptysBio, Inc.
99.2	TESARO, Inc. slides for March 13, 2014 conference call and webcast.

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EX-99.1

Exhibit 99.1

FOR RELEASE ON MARCH 13, 2014 at 7:01 AM ET

TESARO AND ANAPTYSBIO ANNOUNCE COLLABORATION AND

EXCLUSIVE WORLDWIDE LICENSE AGREEMENT FOR

MULTIPLE IMMUNO-ONCOLOGY PROGRAMS

·Immuno-oncology platform provides a portfolio of candidates focused on high value targets, potentially augments the value of other pipeline candidates and enhances prospects for future collaborations to advance TESARO’s overall oncology strategy

·Potential first-in-class anti-TIM-3 antibody clinical candidate expected to be selected second-quarter 2014

·Anti-LAG-3 antibody clinical candidate expected to be selected by third-quarter 2014

·Dual reactive antibody clinical candidates targeting PD-1/TIM-3 and PD-1/LAG-3 expected to be selected by first-quarter 2015

·Investigation of preclinical combinations of TSR-042 (anti-PD-1 antibody) with each of TSR-011 (ALK/TRK inhibitor) and niraparib (PARP inhibitor) planned

·First clinical trial of TSR-042 projected to begin in mid-2015

·Conference call and webcast scheduled for 8:30 AM ET today

WALTHAM, MA, and SAN DIEGO, CA, March 13, 2014 — TESARO, Inc. (NASDAQ: TSRO), an oncology-focused biopharmaceutical company, and AnaptysBio, Inc., a privately held therapeutic antibody company, today announced an exclusive, worldwide license agreement and immuno-oncology antibody collaboration. Under the terms of the agreement, TESARO receives rights to monospecific antibody drug candidates targeting TIM-3, LAG-3 and PD-1 and dual reactive antibody drug candidates targeting PD-1/TIM-3 and PD-1/LAG-3. Therapeutic antibodies selected from these programs will form the basis of a strategic platform that will enable TESARO to develop novel monotherapy and combination-based approaches with immuno-oncology and other anti-cancer agents in a variety of indications. Antibody candidates from these programs are expected to enter clinical trials over the next 18 to 24 months.

“This agreement provides TESARO with a basis from which to develop novel therapeutics, including combination-based approaches, against a variety of tumor targets and may uniquely position TESARO for collaborations with new partners,” said Mary Lynne Hedley, Ph.D., president of TESARO. “These antibody candidates are being developed to address some of the most validated and promising targets in immuno-oncology. We are also interested in evaluating combinations of these antibodies with TSR-011, our ALK/TRK inhibitor, and niraparib, our PARP inhibitor, in addition to other anti-tumor agents with complementary mechanisms, such as immune modulating agents. The first clinical trial from this collaboration is projected to begin in mid-2015, and we expect to advance an additional candidate into clinical trials every one to two quarters thereafter.”

“We view immuno-oncology as a platform that can potentially transform the way in which numerous cancers are treated, and we expect immunotherapy-based approaches to become the

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foundation of many future cancer therapy regimens,” stated Lonnie Moulder, CEO of TESARO. “Our team looks forward to collaborating with AnaptysBio’s scientists to rapidly move multiple novel antibody candidates into clinical trials and potentially explore additional immuno-oncology targets.”

“AnaptysBio’s SHM-XEL platform has successfully generated highly potent therapeutic antibodies against multiple immuno-oncology checkpoint receptors.  In addition to selecting for antibodies with optimal checkpoint antagonist function, our mammalian cell display system permits simultaneous selection for high antibody expression, stability and robust biophysical features required for successful development and ideal pharmacokinetic properties,” said Hamza Suria, president and CEO of AnaptysBio. “Our programs attracted partnership proposals from several companies interested in developing novel immuno-oncology antibody combinations.  We specifically chose to collaborate with TESARO because of its strategic focus in oncology and the proven expertise of TESARO’s development team. We look forward to working with TESARO to advance these therapies to the clinic and deliver new treatment options for cancer patients.”

Agreement Terms

Under the terms of this agreement with AnaptysBio, TESARO will pay an upfront license fee of $17 million, as well as provide funding of costs incurred by AnaptysBio related to the development programs. For each development program, AnaptysBio is eligible to receive milestone payments of $18 million if certain research and development events are achieved and an additional $90 million associated with certain U.S. and ex-U.S. regulatory submissions and approvals in multiple indications.  AnaptysBio will also be eligible to receive tiered single-digit royalties related to worldwide net sales of products developed under the collaboration and certain commercial milestone payments if specified levels of annual worldwide net sales are attained. AnaptysBio and TESARO will together complete preclinical development of the antibody candidates, with TESARO being solely responsible for all clinical development, manufacturing, regulatory and commercial activities.

Immuno-Oncology Platform

Antibodies to immune checkpoint receptors have recently demonstrated promise in the treatment of certain solid tumors, including metastatic melanoma, renal cell carcinoma and non-small cell lung cancer.  Although the normal function of immune checkpoint receptors is to maintain immune homeostasis, they are co-opted by certain tumors to evade immune surveillance.  PD-1, TIM-3 and LAG-3 are each checkpoint regulators that modulate the function of the immune system via different mechanisms, and may limit the ability of the immune system to respond effectively to tumors. By blocking the interaction of PD-1, TIM-3 and LAG-3 with their respective ligands, the antibodies exclusively licensed under this collaboration aim to restore immune anti-cancer function in patients across a variety of tumor types.

PD-1, or programmed death-1, is a key immune checkpoint molecule that can limit T-cell-mediated immune responses. The presence of the PD-1 ligand, PD-L1 has been identified on many

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tumor types, and expression of PD-L1 has been linked to poor clinical outcomes in a variety of cancers. Anti-PD-1 antibodies have demonstrated in vivo efficacy in tumor models and have shown promising results in several clinical studies. TSR-042 is anticipated to begin clinical trials in mid-2015, and combination preclinical pharmacology studies with TSR-011, niraparib and other anti-tumor agents are planned to initiate during 2014.

TIM-3, or T-cell immunoglobulin and mucin domain-3, functions as a pattern recognition receptor that dampens the anti-tumor immune response. Anti-TIM-3 antibodies have shown preclinical anti-tumor activity and may enhance anti-tumor immunity in combination with an anti-PD-1 agent or other immune modulating molecules. In collaboration with AnaptysBio, TESARO expects to select a TIM-3 antibody for clinical development during the second quarter of 2014.

LAG-3, or lymphocyte activation gene-3, is a negative regulator of T-cell activity. Preclinical studies have demonstrated anti-tumor activity by blocking LAG-3 and PD-1 in tumor models, and LAG-3 IgG fusion protein has demonstrated promising results in clinical trials for various solid tumors. In collaboration with AnaptysBio, TESARO expects to select a LAG-3 antibody for clinical development in the third quarter of 2014.

TESARO Conference Call, Webcast and Slide Presentation

TESARO will host a conference call to discuss this license agreement today at 8:30 a.m. Eastern time. The live webcast of the conference call and the accompanying slide presentation can be accessed by visiting the Investors section of the TESARO website at www.tesarobio.com. The conference call can be accessed by dialing (877) 853-5334 (U.S. and Canada) or (970) 315-0307 (international). A replay of the webcast will be archived on the Company’s website for 30 days following the call.

About AnaptysBio

AnaptysBio is a privately-held company focused on the generation of antibody therapeutics and is the leader in the use of somatic hypermutation (SHM) for antibody discovery and optimization. AnaptysBio is developing a pipeline of novel therapeutic antibody candidates, including differentiated programs in immuno-oncology, inflammation, fibrosis, muscle wasting disorders and antibody-drug conjugate applications.  AnaptysBio’s proprietary SHM-XEL™ platform, which couples fully human antibody libraries with in vitro somatic hypermutation in mammalian cells to generate high affinity antibodies, replicates key features of the human immune system and overcomes limitations of prior antibody technologies.  For more information, visit www.AnaptysBio.com.

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About TESARO

TESARO is an oncology-focused biopharmaceutical company dedicated to improving the lives of cancer patients by acquiring, developing and commercializing safer and more effective therapeutics. For more information, visit www.tesarobio.com.

TESARO Contact:

Jennifer Davis

Sr. Director, Corporate Development & Investor Relations

+1.781.325.1116 or jdavis@tesarobio.com

AnaptysBio Contact:

Julie Rathbun

+1.206.769.9219 or julie@rathbuncomm.com

To the extent that statements contained in this press release are not descriptions of historical facts regarding TESARO, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “expect,” “anticipate,” “estimate,” “intend,” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Examples of forward looking statements contained in this press release include, among others, statements regarding our expectations regarding the timing of both the selection of clinical candidates from the programs and the commencement of clinical testing, our development plans for any antibody therapeutic candidates individually and in combination other products and product candidates, and our ability to form partnerships in the future in support of our overall oncology strategy. Forward-looking statements in this release involve substantial risks and uncertainties that could cause our research and pre-clinical development programs, clinical development programs, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the research and development of therapeutic antibodies, including the selection, pre-clinical testing and manufacturing of antibodies, initiation of future clinical trials, availability of data from ongoing clinical trials, expectations for regulatory approvals, and other matters that could affect the availability or commercial potential of our drug candidates. TESARO undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the Company in general, see TESARO’s Annual Report on Form 10-K for the year ended December 31, 2012, and Quarterly Report on Form 10-Q for the quarter ended September 30, 2013.

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EX-99.2

Exhibit 99.2

Immuno-Oncology Collaboration and License Agreement for TIM-3, LAG-3 and PD-1 Antibody Programs March 13, 2014

Safe Harbor Statement Statements made in this presentation about TESARO, Inc. that are not descriptions of historical facts are forward-looking statements reflecting the current beliefs and expectations of management. Forward-looking statements are sometimes identified by words such as “plan,” “may,” “will,” “expect,” and similar expressions referencing future events, conditions or circumstances. These forward-looking statements involve substantial risks and uncertainties that could cause our clinical development programs, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Actual results could differ materially from those expressed or implied by these forward-looking statements as a result of various factors, including, without limitation, the various risks described in our Annual Report on Form 10-K for the year ended December 31, 2012 and our subsequent filings with the SEC. TESARO, Inc. undertakes no obligation to update or revise any forward-looking statement for any reason. Rolapitant, niraparib, TSR-011 and our immuno-oncology candidates are investigational products that have not been approved by any regulatory agency. The most frequently observed adverse events in the two completed rolapitant Phase 3 studies were balanced across treatment arms and included fatigue, alopecia and loss of appetite. Phase 1 data indicate that the most frequently observed adverse events for niraparib at a 300 milligram dose included grade 1/2 anemia, fatigue and nausea. Phase 1 data indicate that TSR-011 was well tolerated at therapeutic dose levels, and the most frequently occurring dose limiting toxicities included ECG changes and dysaethesia, both of which were reversible.

Lonnie Moulder Chief Executive Officer

A/C: anthracycline/cyclophosphamide MEC: Moderately emetogenic chemotherapy; HEC: Highly emetogenic chemotherapy NSCLC: Non-small cell lung cancer * In collaboration with SARC, the Sarcoma Alliance for Research through Collaboration A Balanced Portfolio of Product Candidates Compound Indication Discovery Pre-clinical Phase 1 Phase 2 Phase 3 Rolapitant Oral NK-1 receptor antagonist CINV in A/C-breast cancer/ MEC treated patients CINV in cisplatin (HEC) treated patients CINV in cisplatin (HEC) treated patients Rolapitant IV CINV Niraparib PARP Inhibitor Ovarian Cancer BRCA+ Breast Cancer Niraparib + temozolomide Ewing’s sarcoma* TSR-011 ALK and TRK Inhibitor NSCLC, others TSR-042 Anti-PD-1 antibody Various tumor types Anti-TIM-3 antibody Various tumor types Anti-LAG-3 antibody Various tumor types Anti-TIM-3/PD-1 antibody Various tumor types Anti-LAG-3/PD-1 antibody Various tumor types

Lonnie Moulder Chief Executive Officer

Financial Terms Initiation payment: $17M (Q1 2014 R&D Expense) Funding of development costs for each program Potential milestone payments for each program: $18M for R&D-related achievements, including initiation of Phase 3 trials in an initial and a subsequent indication $90M for regulatory submissions and approvals in an initial and a subsequent indication Tiered, single-digit royalties on net sales and certain commercial milestone payments TESARO and AnaptysBio will jointly complete preclinical development TESARO manages all clinical development, manufacturing, regulatory and commercial activities Collaboration & Exclusive License Agreement

Mary Lynne Hedley, Ph.D. President

Immune modulators for oncology (IMOs) may replace chemotherapy as the treatment backbone in certain indications IMOs are likely to be utilized across many tumor types IMOs will be used as monotherapy and in combination Potential to combine IMOs with niraparib and TSR-011 Provides a competitive advantage in attracting potential partners Complete basket of monospecific and dual reactive antibodies to the most compelling checkpoint targets Reduces our reliance on others for access to key IMOs Internal IMO programs may facilitate collaborations with others who have complementary approaches (TKIs, epigenetic agents, cancer vaccines) Strategic Rationale: TESARO’s Vision for Immuno-Oncology Develop Acquire Commercialize TKIs: tyrosine kinase inhibitors

Immuno-oncology is based on the hypothesis that the immune system is the first defense against cancer Cancer is normally kept in check by immune surveillance Tumors evade this system by inducing a state of immune suppression Checkpoint receptors are co-opted by tumors to evade the immune system PD-1, TIM-3 and LAG-3 are expressed on T cells Receptor interaction with ligands on tumor and stromal cells down-regulates T cell activity Antibodies to PD-1 have recently demonstrated clinical benefit in a variety of tumor types Metastatic melanoma, non-small cell lung cancer, renal cell cancer Immuno-Oncology for the Treatment of Cancer Antibodies to PD-1, TIM-3 and LAG-3 Block Ligand Binding and Restore T Cell Functionality Clin Cancer Res 2013; 19: 4917-4924.

 Advantages of the AnaptysBio Approach Mimicking the Natural Process for Eliciting an Antibody Response Under Controlled Conditions Generates Potent Human Antibodies Antibody Generation and Maturation via the Human Immune System Antibody Generation and Maturation via the SHM-XEL™ System

PD-1: checkpoint receptor that negatively regulates T cell function Expression is a hallmark of exhausted, dysfunctional T cells Binds PD-L1 and negates T cell activity Treatment with anti-PD-1 antibody restores T cell activity and leads to tumor regression in animal models Clinical studies demonstrate effectiveness of checkpoint (PD-1) blockade Tumor shrinkage and improved OS TSR-042 to initiate clinical trials in mid-2015 TSR-042: Anti-PD-1 Antibody Program PD-1 is a Key Immune Checkpoint Receptor Responsible for Suppression of Anti-Tumor Immunity APC or Tumor Cell APC or Tumor Cell Exhausted T cell Reinvigorated T cell TCR Ag MHC TCR Ag MHC PD-1 PD-1 TIM3 TIM3 LAG3 LAG3

TSR-042 Anti-PD-1 Antibody* * Antibody produced based upon the disclosed sequence of BMS-936558. TSR-042 is a Potent Anti-PD-1 Antibody and Enhances Human T Cell Activity KinExA KD = 2 nM KinExA KD = 200 pM IL-2 (ng/ml) isotype TSR042 no mAb Potent Binding to PDL-1 Enhancement of Human T Cell IL-2 Production

IL-2 Production Activated CD4+ T cells at 48h Anti-TIM-3 Antibody Program Anti-TIM-3 Antibodies Enhance Tumor Regression in Combination with Anti-PD-1 Antibodies TIM-3: inhibitory receptor that negatively regulates T cell function Expression is a hallmark of exhausted, dysfunctional T cells Binds Gal-9, expressed on tumors and stromal cells, and negates T cell activity Treatment with anti-TIM-3 antibody restores T cell activity Treatment with anti-PD-1 and anti-TIM3 leads to tumor regression in animal models TESARO lead antibody is a highly potent blocker and restores T cell function Goal is to select clinical candidate by Q2 2014 Best known antagonist A9 library hit A9 lead A9 intermediate

LAG-3/MHC Class II Blockade Assay on Daudi Cells * Lymphocyte activation gene Anti-LAG-3 Antibody Program LAG-3: inhibitory receptor that negatively regulates T cell function Expressed on T and NK cells Binds MHC Class II and negates anti-tumor T cell activity Treatment with anti-LAG-3 antibody upregulates co-stimulatory molecules and restores T cell activity Treatment with anti-PD-1 and anti-LAG-3 leads to tumor regressions in animal models TESARO lead antibody is a potent blocker and restores T cell function Goal to select clinical candidate by Q3 2014 5G4 1G2 5D7 5B11

Sakuishi K et al. 2010 J Exp Med 207:2187. Combination Blockade with anti-PD-1 and anti-TIM-3 Antibodies Results in Tumor Regression Tumor size Day 20/21 Day 23/24 CT26 Colon Carcinoma Tumor Model Treatment: Anti-TIM-3 (5 mg/kg, d. 0, 2, 4) + Anti-PD-L1 (10 mg/kg, d. 0, 3, 6, 9, 12) rat IgG1, rat IgG2b Anti-TIM-3 in Combination with Anti-PD-1 is More Effective in Inhibiting Tumor Growth than Either Agent Alone

Woo, SR, et al., 2012 Cancer Res. 72:917 Combination Blockade with anti-PD-1 and anti-LAG-3 Antibodies Results in Tumor Regression Anti-PD-1, 10 mg/kg Anti-LAG-3, 10 mg/kg Anti-LAG-3, 10 mg/kg + Anti-PD-1, 10 mg/kg Tumor volume (mm3/2) A/J mice + Sa1N fibrosarcoma C57BL/6 mice + MC-38 colon carcinoma Anti-LAG-3 in Combination with Anti-PD-1 is More Effective in Inhibiting Tumor Growth than Either Agent Alone

Source: M. Marzec et. al, PNAS Potential for Combination of ALK Inhibitors with Anti-PD-1 Antibody ALK mutation induces expression of PD-L1 in T cell lymphomas Treatment with anti-PD-1 antibodies is most effective against tumors over-expressing PD-L1 FACS Analysis of Cell Lines for PD-L1 Expression ALK+ TCL CTCL Preclinical Evaluation of Anti-PD-1 and TSR-011 to Initiate this Year

Immuno-oncology platform provides a portfolio of candidates focused on high value targets and augments the value of TESARO’s other pipeline candidates Enhances prospects for future collaborations Anticipated milestones: Potential first-in-class anti-TIM-3 antibody clinical candidate to be selected in Q2 2014 Anti-LAG-3 antibody candidate to be selected by Q3 2014 Dual reactive antibody clinical candidates targeting PD-1/TIM-3 and PD-1/LAG-3 to be selected by first-quarter 2015 Preclinical investigation of TSR-042 (anti-PD-1 antibody) with each of TSR-011 (ALK/TRK inhibitor) and niraparib (PARP inhibitor) in 2014 First clinical trial of TSR-042 projected to begin in mid-2015 Advancing Our Oncology Strategy Summary

Q&A

March 13, 2014 Immuno-Oncology Collaboration and License Agreement for TIM-3, LAG-3 and PD-1 Antibody Programs