2026 ADA Conference Wrap Up - Our Key Learnings (and Tidbits)

Research evidence excerpt

2026 ADA Conference Wrap Up - Our Key Learnings (and Tidbits)

Global Biopharmaceuticals June 11, 2026

Seamus Fernandez

seamus.fernandez@guggenheimpartners.com 2026 ADA Conference Wrap Up - Our Key Learnings

617 859 4637 (and Tidbits) Vamil Divan, M.D.

vamil.divan@guggenheimpartners.com

212 823 6543 Key Message: We're highlighting key takeaways from presentations relevant to our

Evan Wang coverage at the American Diabetes Association (ADA) 2026 Scientific Sessions this past

evan.wang@guggenheimpartners.com weekend in New Orleans. In our note below, we highlight incremental information and our

212 651 9756 takeaways for AZN-LON, GPCR, LLY, PFE, and NOVO.B-CSE, and we also summarize

other tidbits and themes from sessions and our conversations at the conference. More Alana Lelo, Ph.D.

alana.lelo@guggenheimpartners.com details below.

212 518 9955

Zach Dunn, Ph.D. Key Takeaways Related to our Coverage

zach.dunn@guggenheimpartners.com

617 859 4603 AZN-LON

Colleen Garvey, Ph.D. AZN-LON finally revealed the long-awaited Ph 2b oGLP elecoglipron data • What's new?

colleen.garvey@guggenheimpartners.com that was teased in February, where the VISTA (obesity) and SOLSTICE (T2DM) studies

617 859 4664 achieved a profile broadly in-line with LLY's Foundayo. Elecoglipron led to comparable

weight loss and AEs (esp. DC due to AE and vomiting) in VISTA, while SOLSTICE showed

eleco improved A1C and WL reductions vs. active comparator, oral sema (14mg) - see

our AZN Field Report for our oral obesity comp table (or email us).

While we believe differentiation as a monotherapy is unlikely for • GSR Takeaways:

elecoglipron but in line with our and investor expectations (per our conversations), AZN

highlighted the ability to potentially differentiate on: (1) combinations, esp with dapa,