Takeaways from Neuromuscular KOL on CIDP and MMN Trials (DNTH, ARGX)

Research evidence excerpt

Takeaways from Neuromuscular KOL on CIDP and MMN Trials (DNTH, ARGX)

Equity Research

Multi Company Update — June 16, 2026

Biotechnology

Takeaways from Neuromuscular KOL on CIDP

and MMN Trials (DNTH, ARGX)

Our Call Sadia Rahman, PhD

KOL attributes SNY failure to enrollment of refractory popn & remains confident in Equity Analyst | Wells Fargo Securities, LLC

Sadia.Rahman@wellsfargo.com | 646-584-6948

complement mechanism and DNTH Ph3 prospects if refractory enrollment is limited. He

Derek Archilais also optimistic on ARGX's Ph3 MMN trial given positive Ph2 data. Ask for replay.

Equity Analyst | Wells Fargo Securities, LLC

Derek.Archila@wellsfargo.com | 617-603-4353

Refractory popn as reason for SNY failure. KOL was disappointed by the SNY result but Mohit Bansal

not completely surprised given the trial enrolled an SOC-refractory popn. These pts could Equity Analyst | Wells Fargo Securities, LLC

have 'burnt-out' disease w/ permanent nerve damage & may not have ongoing disease Mohit1.Bansal@wellsfargo.com | 212-214-8025

activity. Pts have usually already cycled through various treatments, and improving Hao Shen, PhD

residual weakness with any mechanism could be difficult. The trials rely on clinician Associate Equity Analyst | Wells Fargo Securities, LLC

judgment to enroll pts rather than biomarkers to enrich active disease. Hao.Shen@wellsfargo.com | 212-214-8047

Jacob Goell, PhD

Confidence in complement mechanism in CIDP remains high. Confidence in Associate Equity Analyst | Wells Fargo Securities, LLC Jacob.Goell@wellsfargo.com | 650-245-0208

complement as a compelling mechanism in CIDP has not changed for the KOL. He

Simone Nasroodin, PharmDcontinues to believe targeting complements upstream should work, particularly in SOC-