Zasocitinib IR Event Phase 3 Psoriasis Data Presented at AAD March 28th, 2026 ET / March 29th, 2026 JST Photo: IFPA | All the Colors We Are This material is prepared and distributed solely for the purpose of providing information about Takeda's management or busine ss to shareholders, investors, and analysts, and is not intended to induce purchase or prescription of any specific drugs and other products. This material is not intended for healthcare professionals, patients, or other persons other than those ...

Core Insights - Merck & Co., Inc. has agreed to acquire Terns Pharma for $6.7 billion to enhance its cancer treatment pipeline amid impending patent loss for Keytruda [1][2] - The acquisition is part of Merck's strategy to expand its late-stage pipeline, which has seen significant growth since 2021 through both internal development and major acquisitions [2] - The deal includes a 6% premium on Terns Pharma's stock price, with Merck's share price increasing by 5.5% following the announcement [3] Company Overview - Merck & Co., Inc. operates in the healthcare sector, providing a range of health solutions including prescription medicines, vaccines, biologic therapies, animal health products, and consumer care items [4]

Core Insights - Eli Lilly and Company announced positive results from the TOGETHER-PsA Phase 3b clinical trial, demonstrating that the combination of Taltz and Zepbound significantly improved disease activity and patient-reported outcomes compared to Taltz monotherapy [1] Group 1: Clinical Trial Results - The TOGETHER-PsA trial evaluated the concomitant use of Taltz (ixekizumab) and Zepbound (tirzepatide) in adults with active psoriatic arthritis and obesity or overweight, along with at least one additional weight-related comorbidity [1] - Results were presented at the 2026 American Academy of Dermatology Annual Meeting and published in Arthritis & Rheumatology, indicating the effectiveness of the combination therapy [1]

Core Viewpoint - Incyte's experimental drug, povorcitinib, demonstrates significant long-term symptom relief for patients with moderate to severe hidradenitis suppurativa in late-stage trials [1][2]. Group 1: Drug Efficacy - Incyte's drug showed that after 54 weeks of treatment, up to 71.4% of patients experienced at least a 50% reduction in abscesses and inflamed skin bumps [2]. - The studies indicated that up to 57% of patients achieved major symptom reduction, while up to 29% achieved complete clearance of key skin lesions [3]. Group 2: Mechanism and Treatment Context - Povorcitinib is a once-daily pill that functions by blocking JAK1, a protein involved in inflammation leading to painful abscesses and nodules [3]. - Current treatment options for hidradenitis suppurativa are limited, primarily consisting of injectable drugs, with only three FDA-approved treatments available: AbbVie's Humira, Novartis' Cosentyx, and UCB's Bimzelx [4]. Group 3: Regulatory Status and Demographics - Applications for the approval of povorcitinib are currently under review by the FDA and the European Medicines Agency [5]. - Hidradenitis suppurativa affects approximately 1% to 4% of the U.S. population, with a higher prevalence among racial and ethnic minority groups [4].

Core Insights - Takeda's Zasocitinib has shown rapid and durable skin clearance for psoriasis patients, indicating its potential to transform psoriasis care [1] Company Overview - Takeda is advancing its psoriasis treatment portfolio with Zasocitinib, which is administered as a convenient once-daily pill [1] Industry Impact - The introduction of Zasocitinib may reshape the landscape of psoriasis treatment, offering a new option for patients seeking effective management of their condition [1]

Core Insights - Amlitelimab, a monoclonal antibody targeting OX40-ligand, shows positive results in three phase 3 studies for moderate-to-severe atopic dermatitis, demonstrating significant improvements in skin clearance and disease severity compared to placebo [1][2][3] Study Results - The studies COAST 1, COAST 2, and SHORE were presented at the AAD Annual Meeting, indicating that amlitelimab is well-tolerated and effective as both monotherapy and in combination with topical therapies [1][4] - In COAST 1, 21.1% of patients on Q4W and 22.5% on Q12W achieved a validated investigator global assessment scale score of 0 or 1, compared to 9.2% in the placebo group [5] - COAST 2 showed 25.3% and 25.7% of patients on Q4W and Q12W respectively achieving the same score, against 14.8% in the placebo group [7] - In the SHORE study, 28.7% on Q4W and 32.3% on Q12W achieved the primary endpoint, compared to 16.8% in the placebo group [7] Efficacy and Safety - Amlitelimab demonstrated progressively increasing efficacy over the treatment period with no evidence of plateau at Week 24 [6] - The safety profile was consistent with previous data, with common treatment-emergent adverse events including nasopharyngitis and dermatitis atopic, but overall incidence rates were low [10] - Malignancy rates were low (<1%) across the studies, with no severe injection site reactions reported [10][11] Future Outlook - Results from the ESTUARY phase 3 extension study, evaluating Q12W maintenance dosing and long-term safety, are expected in H2 2026 [12] - Amlitelimab is still in clinical development and has not yet been evaluated by regulatory authorities [12][16]

Market Overview - Major indexes, including the Nasdaq and S&P 500, have fallen for five consecutive weeks, reaching their lowest levels since August [1][2] - All three major indexes are now over 10% off their highs, indicating a market correction [2] Sector Performance - Agricultural stocks emerged as the week's top performers, with a 13% rally driven by reduced fertilizer supplies from the Middle East, impacting crop yield estimates [3] - Notable gainers in the agricultural sector include Bunge (BG), which rose 9%, and Darling Ingredients (DAR), which increased by 8% [3] Key Companies - Chevron (CVX) has seen its stock extend gains, marking its 14th consecutive weekly advance and surpassing its previous record high from November 2022 [2] - Other companies like Merck (MRK), Walmart (WMT), Cisco Systems (CSCO), Johnson & Johnson (JNJ), and Caterpillar (CAT) have shown resilience, with some maintaining workable chart patterns despite the market downturn [2] Upcoming Events - The upcoming week will feature important economic data, including the March jobs report, which is expected to show a steady unemployment rate of 4.4% and a payroll increase of 58,500 [8] - Earnings reports from companies such as Nike (NKE), Tesla (TSLA), and Rivian (RIVN) are anticipated, with Nike being closely watched due to its recent stock performance [10] Market Sentiment - The current market environment is described as dangerous for new investments, with stocks showing bullish signals but often reversing [7] - Investors are advised to focus on stocks demonstrating relative strength and key support levels to prepare for potential uptrends [7]

Core Viewpoint - Arrowhead Pharmaceuticals, Inc. announced long-term efficacy and safety data from a two-year open-label extension study of plozasiran, indicating its potential as a therapeutic solution for patients with hypertriglyceridemia [1] Group 1: Study Findings - The data presented supports the long-term efficacy of plozasiran in treating hypertriglyceridemia [1] - The study was conducted over a two-year period, providing extensive insights into the drug's performance [1] Group 2: Presentation Details - The findings were presented by Dr. Christie M. Ballantyne, a professor at Baylor College of Medicine and a member of the Texas Heart Institute [1] - Dr. Ballantyne serves as the Principal Investigator for the study, highlighting the credibility of the research [1]

Core Viewpoint - Rosen Law Firm is reminding investors who purchased securities of Aquestive Therapeutics, Inc. during the specified class period of the upcoming lead plaintiff deadline on May 4, 2026 [1]. Group 1: Class Action Details - Investors who purchased Aquestive securities between June 16, 2025, and January 8, 2026, may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties can join by submitting a form or contacting the law firm [3][6]. - The lawsuit alleges that the defendants made false or misleading statements regarding the New Drug Application for Anaphylm and concealed significant human factors related to its sublingual film [5]. Group 2: Legal Representation - Investors are encouraged to select qualified legal counsel with a proven track record in securities class actions, as many firms issuing notices may lack the necessary experience [4]. - Rosen Law Firm has a history of successful settlements, including the largest securities class action settlement against a Chinese company, and has recovered hundreds of millions for investors [4]. Group 3: Class Certification Status - No class has been certified yet, meaning investors are not represented by counsel unless they retain one, and they can choose to remain absent from the class [7].

Core Insights - Johnson & Johnson announced long-term data from Phase 3 studies showing ICOTYDE (icotrokinra) achieves high rates of complete skin clearance in patients with moderate-to-severe plaque psoriasis [1][2][4] - Nearly 60% of adolescents treated with ICOTYDE achieved completely clear skin at Week 52, indicating its effectiveness in younger populations [1][5] Efficacy and Safety - ICOTYDE demonstrated sustained skin clearance with complete skin clearance rates (PASI 100) increasing from 41% to 49% in ADVANCE 1 and from 33% to 48% in ADVANCE 2 from Week 24 to Week 52 [4] - Patients switching from placebo to ICOTYDE at Week 16 achieved similar clearance rates by Week 52, with 50% and 43% in ADVANCE 1 and 2, respectively [4] - The adverse event profile remained consistent through Week 52, with no new safety signals identified, and overall adverse event and infection rates were lower than those of deucravacitinib [4] Adolescent Outcomes - In the ICONIC-LEAD study, 57% of adolescents achieved PASI 100 and 86% achieved PASI 90 response at one year, with 92% maintaining that response from Week 24 to Week 52 [5] - The study confirmed that ICOTYDE is a transformative therapy for adolescents aged 12 and older, providing a new treatment option for this demographic [3] Clinical Development - The ICONIC clinical development program includes five Phase 3 studies evaluating ICOTYDE in patients aged 12 and older with moderate-to-severe plaque psoriasis [7] - Additional studies are underway for other conditions, including active psoriatic arthritis and ulcerative colitis, indicating the broad potential of ICOTYDE beyond psoriasis [8][10] Mechanism of Action - ICOTYDE is the first targeted oral peptide designed to block the IL-23 receptor, which plays a crucial role in the inflammatory response associated with plaque psoriasis [8][9] - The drug binds to the IL-23 receptor with high affinity, demonstrating potent inhibition of IL-23 signaling in human T cells [9] Regulatory Status - ICOTYDE is currently approved in the U.S. for the treatment of adults and pediatric patients aged 12 years and older with moderate-to-severe plaque psoriasis [9] - The drug is administered as a once-daily pill, highlighting its convenience for patients [9]