Alnylam Pharmaceuticals (ALNY) Conference September 03, 2025 01:45 PM ET Company ParticipantsJeff Poulton - CFOKevin Fitzgerald - Chief Scientific OfficerConference Call ParticipantsDavid Lebowitz - Senior Research Analyst - BiotechnologyDavid LebowitzThank you all. Welcome all again to the, twenty twenty five Citi Biopharma Conference in Boston. Next on the docket, we have Alnylam. If you could, I guess, introduce us and kind of tell us a little bit about the company for no one who's for people who haven't ...

Sionna Therapeutics (SION) 2025 Conference September 03, 2025 01:35 PM ET Speaker0Hello? Yes. Great. Great. Good afternoon, everyone.My name is Eric Schmidt. I'm one of the analysts at Cantor, and it's my pleasure to welcome everyone back to our conference. Delighted to introduce our next presenting company, Cianna Therapeutics, and also delighted that we have with us today Mike Cloonan, who's the company's chief executive officer, and Elena Redloff, who's the company's chief financial officer. Mike, Elena, ...

Group 1 - Sanofi announced the approval of Teplizumab injection (brand name: Trelagliptin) in China for adults and children aged 8 and above with stage 2 type 1 diabetes, aimed at delaying the onset of stage 3 diabetes [1] - Teplizumab is a CD3-targeted monoclonal antibody that protects pancreatic β-cells, potentially delaying the need for long-term insulin treatment by nearly 3 years [1] - The drug was first approved by the FDA in November 2022, marking it as the first and only innovative targeted therapy to delay the onset of type 1 diabetes globally [1] Group 2 - Teplizumab has been included in the fourth batch of encouraged R&D pediatric drugs in China and is set to be implemented in Hainan Boao Lecheng International Medical Tourism Pilot Zone by July 2024 [2] - The approval of Teplizumab in China is expected to benefit a larger patient population, with the first prescriptions in Asia anticipated by June 17, 2025 [2] - Sanofi's Greater China President highlighted the company's commitment to patient-centered innovation and collaboration to enhance the type 1 diabetes prevention and treatment system in China [2]

Core Insights - Sanofi announced that its drug, Trelagliptin (trade name: Trelioza), has been approved by the National Medical Products Administration (NMPA) in China for use in children aged 8 and above and adults with type 1 diabetes stage 2, aimed at delaying progression to stage 3 diabetes [2] Company Summary - Sanofi's Trelagliptin is now approved for a new indication in China, which may enhance its market presence and sales potential in the diabetes treatment segment [2] Industry Summary - The approval of Trelagliptin reflects ongoing advancements in diabetes management and treatment options available for patients, particularly in the pediatric and adult populations [2]

Core Insights - Eli Lilly and Company (LLY) has significantly increased its market value over the past 2-3 years, primarily due to the success of its GLP-1 drugs, Mounjaro for type II diabetes and Zepbound for obesity [1] Drug Approvals and Revenue Contributions - Lilly has received approvals for several new drugs, including Omvoh for ulcerative colitis and Crohn's disease, Jaypirca for mantle cell lymphoma and chronic lymphocytic leukemia, Ebglyss for atopic dermatitis, and Kisunla for early symptomatic Alzheimer's disease, all contributing to revenue growth [2] - In the first half of 2025, Omvoh generated $111.9 million, while Ebglyss, Kisunla, and Jaypirca contributed $147.1 million, $70.1 million, and $215.3 million, respectively [3] Future Growth Potential - These drugs are being evaluated for additional indications and label expansions, with Ebglyss in phase III trials for perennial allergens and chronic rhinosinusitis, and Jaypirca being studied for earlier lines of therapy [4] - Lilly anticipates that Omvoh, Ebglyss, Kisunla, and Jaypirca will continue to drive revenue growth in the second half of 2025 [5] Upcoming Drug Approvals - A new drug, imlunestrant, is under review for treating ER+HER2-metastatic breast cancer in the US and EU [6] Competitive Landscape - Omvoh faces competition from AbbVie's Humira, Skyrizi, and Rinvoq, as well as J&J's Stelara, while Kisunla competes with Eisai/Biogen's Leqembi [7][8] - Jaypirca competes with older BTK inhibitors like Imbruvica and Calquence, and Ebglyss faces competition from Dupixent [9] Stock Performance and Valuation - Lilly's stock has declined by 4.6% this year, contrasting with a 1.3% increase in the industry [10] - The combined revenue from Omvoh, Ebglyss, Kisunla, and Jaypirca exceeded $540 million in H1 2025, with EPS estimates for 2025 and 2026 rising to $22.97 and $30.95, respectively [11] - Lilly's stock is currently trading at a price/earnings ratio of 25.87, higher than the industry average of 14.78, but below its 5-year mean of 34.54 [13] Consensus Estimates - The Zacks Consensus Estimate for 2025 EPS has increased from $22.04 to $22.97 over the past 30 days, while the estimate for 2026 has risen from $30.88 to $30.95 [14]

Core Insights - Sanofi has received FDA approval for Wayrilz (rilzabrutinib), marking it as the first BTK inhibitor approved for treating persistent or chronic immune thrombocytopenia (ITP) in the United States [1][7] - The approval was based on the phase III LUNA 3 study, which demonstrated positive outcomes in sustained platelet counts and ITP symptoms, achieving both primary and secondary endpoints [2][7] - Wayrilz is also under review in the EU and China for ITP treatment and has been recently approved in the UAE for the same indication [3] Company Developments - Patients using Wayrilz will benefit from Sanofi's HemAssist program, which offers support for treatments related to rare blood disorders [3] - In addition to ITP, Wayrilz is being developed for other rare diseases, including IgG4-related disease (IgG4-RD) and warm autoimmune hemolytic anemia (wAIHA), with orphan drug designations from the FDA [5][9] - A phase II study is currently evaluating Wayrilz for IgG4-RD, a chronic immune-mediated condition affecting multiple organs [8] Stock Performance - Sanofi's shares have increased by 2.6% this year, contrasting with a 0.6% decline in the industry [4]

Sanofi’s drug for a rare autoimmune blood disorder won approval in the US, raising the prospect of the medicine becoming a blockbuster https://t.co/47tjRW2JQp ...

Core Insights - The FDA has approved Wayrilz (rilzabrutinib) as the first BTK inhibitor for adults with persistent or chronic immune thrombocytopenia (ITP) who have not responded adequately to previous treatments [1][11] - The approval is based on the LUNA 3 phase 3 study, which demonstrated significant improvements in platelet counts and other ITP symptoms [1][6] Company Overview - Sanofi is committed to addressing unmet patient needs through innovative therapies, with Wayrilz representing a significant advancement in the treatment of ITP [3][11] - The company utilizes its TAILORED COVALENCY® technology to selectively inhibit BTK, which plays a critical role in immune-mediated disease processes [11] Study Details - The LUNA 3 study involved 202 adult patients and showed that 64% of patients on Wayrilz achieved a platelet count response at 12 weeks compared to 32% in the placebo group [3][10] - Patients on Wayrilz reported a 10.6-point improvement in health-related quality of life measures, while the placebo group showed a 2.3-point increase [4] Treatment Mechanism - Wayrilz functions as a novel oral, reversible BTK inhibitor that targets multiple pathways in the immune system, addressing the root causes of ITP through multi-immune modulation [2][11] - This approach is expected to provide a new treatment option for patients who have not responded to traditional therapies [5][6] Regulatory Status - Wayrilz has received Fast Track and Orphan Drug Designations from the FDA for ITP, and similar designations in Japan and the EU [8] - The drug is also under regulatory review for ITP in the EU and China, indicating potential for broader market access [8] Patient Support - Sanofi offers the HemAssist patient support program to assist patients with treatment navigation, insurance coverage, and financial assistance [9]

Core Viewpoint - Novavax's Nuvaxovid™ has been approved by the U.S. FDA for the 2025-2026 vaccination season, making it the only protein-based, non-mRNA COVID-19 vaccine available in the U.S. for high-risk adults aged 12 to 64 and seniors aged 65 and older [1][4]. Group 1: Vaccine Approval and Target Population - The FDA approval allows Nuvaxovid to be administered to adults 65 years and older, or individuals aged 12 to 64 with at least one underlying condition that increases their risk for severe COVID-19 outcomes [1][4]. - Novavax plans to collaborate with Sanofi to ensure access to the vaccine for eligible individuals this fall [2]. Group 2: Clinical Data and Efficacy - Clinical and preclinical data indicate that Nuvaxovid is safe and effective against COVID-19, particularly the JN.1 strain, which is responsible for the majority of global infections as of July 2025 [3]. - The vaccine induces immunity across various circulating strains within the JN.1 lineage, including NB.1.8.1, LP.8.1, XFG, XFC, LF.7, and XEC [3]. Group 3: Commercialization and Royalties - Sanofi is leading the commercialization efforts for Nuvaxovid, while Novavax is set to receive ongoing tiered royalties from the vaccine sales [3]. Group 4: Vaccine Composition and Technology - Nuvaxovid is a protein-based vaccine that targets the JN.1 variant, utilizing Novavax's recombinant nanoparticle technology to create copies of the SARS-CoV-2 spike protein [8][9]. - The Matrix-M® adjuvant enhances the immune response and allows for a lower dose of the antigen while maintaining effectiveness [10]. Group 5: Company Overview - Novavax, Inc. focuses on addressing significant health challenges through its expertise in vaccines and technology platforms, including protein-based nanoparticles and the Matrix-M adjuvant [11]. - The company's growth strategy includes optimizing existing partnerships, expanding access to its technology, and pursuing research and development innovations [11].

Summary of Key Points from the Conference Call Industry Overview - **Industry**: Global Biopharma, specifically focusing on China's biotech sector transitioning from generics to innovation - **Projection**: By 2040, China-originated assets are expected to account for 35% of US FDA approvals, up from 5% today, generating approximately US$220 billion in ex-China revenue [6][33][41] Core Insights - **China's Biotech Evolution**: China's biotech sector is moving from being a generics manufacturer to a significant player in drug discovery and development, driven by regulatory harmonization, cost-efficient infrastructure, and a maturing funding ecosystem [6][7][24] - **R&D Returns**: A projected 48% improvement in global R&D returns by 2040 is anticipated due to China's advantages in speed and cost in drug R&D [7][33] - **Loss of Exclusivity (LOE) Challenge**: The global pharma industry faces a US$115 billion LOE cliff by 2035, with oncology, immunology, and cardiometabolic therapies making up over 80% of this shortfall [8][75] - **M&A Opportunities**: US and EU biopharma have a combined M&A capacity of US$480 billion, which is 1.7 times the value needed to fill the LOE gap, indicating a potential surge in cross-border deal-making [9][28] Geopolitical Considerations - **Geopolitical Risks**: Tensions between the US and China could hinder the flow of innovation, with three scenarios outlined: base case (35% FDA penetration), bull case (46%), and bear case (15%) [10][44] - **Co-opetition**: A blend of competition and collaboration is expected as global pharma navigates the dual imperatives of innovation and resilience [11] Investment Implications - **Stock Performance Drivers**: Factors such as M&A activity, regulatory clarity, and the opening of new therapeutic markets are expected to drive stock performance in the pharma and biotech sectors [37] - **Key Players**: Companies like AstraZeneca, Bristol-Myers, Merck, and Pfizer are expected to be active in M&A to replenish their pipelines, particularly through partnerships with Chinese firms [38][51] Emerging Trends - **Innovative Therapies**: Chinese biotechs are increasingly developing "1-to-N" therapies that are commercially viable globally, while also striving for "0-to-1" innovations traditionally dominated by US/EU firms [25][52] - **Pipeline Opportunities**: Companies with strong balance sheets and diversified pipelines are likely to benefit from in-licensing opportunities and successful navigation of patent cliffs [37][53] Conclusion - **Future Outlook**: The global biopharma landscape is shifting, with China's biotech sector poised to play a crucial role in addressing the innovation gap created by LOE challenges, while geopolitical dynamics will continue to influence the pace and nature of this transformation [23][39][44]