Summary of Tectonic Therapeutics FY Conference Call Company Overview - **Company**: Tectonic Therapeutics (NasdaqGM: TECX) - **Focus**: Development of novel therapeutics targeting heart failure and pulmonary hypertension Key Molecule: TX-45 - **Description**: TX-45 is a long-acting relaxin mimetic with potential applications in heart failure and pulmonary hypertension [3][4] - **Mechanisms of Action**: - Acts as a vasodilator for both peripheral and pulmonary circulation [4] - Functions as a leisotropic agent, relaxing heart muscle during diastole [4] - Exhibits antifibrotic properties by increasing metalloproteinases and inhibiting the TGF beta pathway [5] Target Patient Population - **Heart Failure with Preserved Ejection Fraction (HFpEF)**: Estimated 3.5 to 4 million patients in the U.S. [9] - **Specific Subset**: Approximately 1.4 million patients with Class II and III heart failure and elevated pulmonary pressures, with around 700,000 to 1 million having combined pre- and post-capillary pulmonary hypertension (CPCPH) [10] Competitive Landscape - **Lilly's Program**: Competes with a long-acting relaxin designed differently, leading to fluid retention issues in decompensated heart failure patients [12][13] - **AstraZeneca**: Conducting studies in similar patient populations, focusing on pulmonary vascular resistance [24] - **Merck**: Investigating treatments for pulmonary hypertension, with potential data release expected [29] Clinical Trial Updates - **Phase Ib Study**: Showed a 32% to 35% reduction in pulmonary vascular resistance and an 18% to 19% reduction in pulmonary capillary wedge pressure [38] - **Phase II APeX Trial**: Over 30% enrollment, focusing on patients with high pulmonary vascular resistance [42] - **Future Trials**: Plans to initiate a trial for pulmonary hypertension associated with interstitial lung disease (PHILD) in 2026 [50] Additional Program: Hereditary Hemorrhagic Telangiectasia (HHT) - **Target Population**: 70,000 to 75,000 patients in the U.S., focusing on moderate to severe cases with no approved therapies [61] - **Study Timeline**: Phase I study expected to start in Q1 2026 [62] Platform Technology - **G Protein-Coupled Receptors (GPCRs)**: Tectonic's platform enables the development of antibodies against GPCRs, a significant target for drug development [66] Upcoming Milestones - **Data Releases**: Anticipated data from reduced ejection fraction Phase Ib study in October and further updates on clinical trials throughout 2026 [71][72] Conclusion - Tectonic Therapeutics is positioned to address significant unmet needs in heart failure and pulmonary hypertension with innovative therapies and a robust pipeline, while navigating a competitive landscape with ongoing clinical trials and strategic patient targeting.

Group 1 - Compass Therapeutics, Inc. announced a public offering of 33,290,000 shares of common stock priced at $3.00 per share, along with pre-funded warrants for 6,710,000 shares priced at $2.9999 each, expecting gross proceeds of approximately $120 million [1][2] - The offering is expected to close on or about August 14, 2025, subject to customary closing conditions, with underwriters granted a 30-day option to purchase an additional 6,000,000 shares [1][2] - The net proceeds will be used for commercial readiness preparations, funding research and clinical development of product candidates, and general corporate purposes [2] Group 2 - Jefferies, Piper Sandler, and Guggenheim Securities are acting as joint active bookrunning managers for the offering, with additional firms serving as lead and co-managers [3] - A shelf registration statement for the securities was filed with the SEC on August 30, 2024, and declared effective on September 6, 2024, with a preliminary prospectus supplement already filed [4] Group 3 - Compass Therapeutics is a clinical-stage biopharmaceutical company focused on oncology, developing proprietary antibody-based therapeutics targeting multiple diseases [6] - The company’s scientific focus includes the relationship between angiogenesis, the immune system, and tumor growth, with a robust pipeline of product candidates designed to target critical biological pathways for effective anti-tumor responses [6]

Company Overview - Compass Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on oncology, developing proprietary antibody-based therapeutics to treat various human diseases [3] - The company emphasizes the relationship between angiogenesis, the immune system, and tumor growth, aiming to create a robust pipeline of novel product candidates [3] - Founded in 2014 and headquartered in Boston, Massachusetts, Compass Therapeutics is advancing its product candidates through clinical development as standalone therapies and in combination with other proprietary antibodies [3] Upcoming Financial Results and Updates - Compass Therapeutics will release its financial results for the quarter ended June 30, 2025, and provide updates on the ongoing tovecimig Phase 2/3 study, clinical data for CTX-8371, and preclinical data for CTX-10726 on August 11, 2025, at 8:00 AM ET [1] - A webcast and conference call will be held to discuss these updates, with a replay available for 90 days on the company's Events page [2]