Core Insights - Ipsen announced that the pivotal Phase II FALKON trial did not meet its primary endpoint of reducing new heterotopic ossification (HO) in patients with fibrodysplasia ossificans progressiva (FOP) compared to placebo, leading to the closure of the study [1] - The investigational product, fidrisertib, was generally well tolerated with no safety concerns reported during the trial [1] Summary by Sections FALKON Trial Results - The FALKON trial was the largest Phase II trial for FOP, enrolling 113 patients globally over a period of more than 5 years [2][5] - The primary endpoint was the annualized change from baseline in HO volume, which was not achieved [5] Patient Impact and Community Response - The results are seen as disappointing for the FOP community, but the data is expected to contribute to ongoing research and understanding of the disease [2] - Ipsen expressed gratitude to the patients, caregivers, and the FOP community for their commitment to the trial [2] About FOP - FOP is a genetic condition caused by pathogenic variants of the ALK2 kinase, leading to irreversible bone formation in soft tissues [3] - The average age of diagnosis is 5 years, with a median life expectancy of 56 years due to complications from bone formation [3] - FOP has an estimated prevalence of 1.36 per million individuals, with approximately 900 diagnosed cases worldwide [3] About Fidrisertib - Fidrisertib is an oral small molecule inhibitor targeting pathogenic variants of the ALK2 kinase, designed to address both flare-up and non-flare-up based HO formation [4] - It is administered orally, either sprinkled on food or dissolved in water, without dose changes during flare-ups [4] Company Overview - Ipsen is a global biopharmaceutical company focused on transformative medicines in oncology, rare diseases, and neuroscience [6] - The company has nearly 100 years of development experience and operates in over 40 countries, bringing medicines to more than 100 countries [6]

Core Insights - Ipsen reported strong sales growth for Q1 2025, with total sales reaching €918.8 million, reflecting an increase of 11.7% as reported and 11.6% at constant exchange rates (CER) [2][7] - The company highlighted significant growth in its Rare Disease segment, which saw a remarkable increase of 78.4% in sales, driven by innovative medicines [2][7] - Ipsen confirmed its full-year financial guidance for 2025, acknowledging potential negative impacts on Somatuline sales due to increased generic competition [3][7] Sales Performance - Oncology sales amounted to €655.0 million, up 8.5% [2] - Neuroscience sales reached €193.5 million, reflecting an 8.0% increase [2] - Rare Disease sales were €70.3 million, marking a substantial growth of 78.4% [2] Strategic Initiatives - The CEO emphasized the ongoing transformation of the company and the importance of 2025 for Ipsen, with multiple product launches and milestones expected [2] - Ipsen is advancing its pipeline with the regulatory filing for tovorafenib accepted by EMA for pediatric low-grade glioma, indicating a commitment to innovation in challenging cancer treatments [4][5] Financial Guidance - Ipsen confirmed its financial guidance for 2025, which includes anticipated challenges from generic competition affecting Somatuline sales [3] - The company expects total sales growth to exceed 5.0% at constant currency, with a core operating margin greater than 30.0% [8] Upcoming Milestones - Key milestones anticipated in 2025 include regulatory decisions for Cabometyx and fidrisertib, as well as proof-of-concept data for LANT [9] - The company initiated Phase I trials for IPN01195, a RAF inhibitor, complementing its existing pipeline [5] Refinancing Activities - Ipsen successfully completed its inaugural Rated Public Bond of €500 million with a coupon of 3.875%, which is part of its refinancing strategy [10]