Summary of Centessa Pharmaceuticals FY Conference Call Company Overview - Centessa Pharmaceuticals is a clinical-stage biotech company focused on orexin biology and orexin agonism, particularly in the treatment of sleep disorders such as narcolepsy and idiopathic hypersomnia [2][3] Key Developments - The company recently updated its Phase 2 study results involving approximately 50-55 patients across Narcolepsy Type 1 (NT1), Narcolepsy Type 2 (NT2), and Idiopathic Hypersomnia (IH) [2][3] - Centessa is the first company to present a robust dataset demonstrating statistically significant efficacy across all three indications [2][3] Pipeline and Future Studies - The lead asset, ORX750, is currently in Phase 2, with additional molecules ORX142 and ORX489 entering Phase 1 studies in Q1 2026 [3][4] - The company aims to expand beyond rare hypersomnias into neurodegenerative and psychiatric conditions [4] Efficacy Data - In NT1, a second dose of 1.5 mg showed a greater than 20-minute change from baseline in the Maintenance of Wakefulness Test (MWT), with half of the patients showing over 30 minutes improvement [6][7] - For NT2, a 4 mg dose resulted in a greater than 10-minute change from baseline, with the Epworth Sleepiness Scale (ESS) improving from 15-16 to 8 [7][8] - In IH, the initial 2 mg dose demonstrated clinically significant improvements in MWT and other efficacy measures [8] Safety and Tolerability - The drug has shown a favorable safety profile, with no significant adverse events reported, and only one dropout due to a pre-existing condition [31][32] Registration Program - The registration program is set to commence in Q1 2026, with flexibility to initiate across all three indications or staggered based on data from the next 50 patients [27][28] Competitive Landscape - The company believes it has a best-in-class profile based on the totality of evidence, including MWT, ESS, and tolerability metrics [34] - The orexin agonist class is viewed as having significant potential, akin to GLP-1 in the field of neurosciences [37] Intellectual Property - Centessa has developed a strong IP portfolio, with protections extending past 2040, based on unique structural biology technology [40] Conclusion - Centessa Pharmaceuticals is positioned to make significant advancements in the treatment of sleep disorders and potentially other neuropsychiatric conditions, with promising data from its lead asset and a robust pipeline [42]