Catalyst Driven Idea: AMGN, RPRX, and IONS Laterals to upcoming NVS Lp(a) Ph3 data

Research evidence excerpt

Catalyst Driven Idea: AMGN, RPRX, and IONS Laterals to upcoming NVS Lp(a) Ph3 data

Idea

June 25, 2026 08:15 PM GMT

Morgan Stanley & Co. LLCMBiopharma | North America Terence C Flynn, Ph.D.

Equity Analyst

Catalyst Driven Idea: AMGN, Terence.Flynn@morganstanley.comMichael E Ulz +1 212 761-2230

Mike.Ulz@morganstanley.com +1 212 761-4650

RPRX, and IONS Laterals to Connor M Massari

Connor.Massari@morganstanley.com +1 212 761-2417

upcoming NVS Lp(a) Ph3 data Alexander Yevdokimov, Ph.D.

Research Associate

Alexander.Yevdokimov@morganstanley.com +1 212 761-2167

We expect NVS to release topline data from its Lp(a) Ph3 trial in Avraham Novick

the coming weeks, a cardiovascular outcomes trial of NVS/IONS’ ResearchAvi.Novick@morganstanley.comAssociate +1 212 761-2231

pelacarsen in patients with CVD and elevated Lp(a). The data Chris Yu, J.D., Ph.D.

could be the 1st to show whether Lp(a) lowering drives CV risk EquityChris.L.Yu@morganstanley.comAnalyst +1 212 761-2535

reduction, which has lateral implications. Damien H Kerner

What and when is the catalyst? Pelacarsen is being studied by NVS in the Ph3 Damien.H.Kerner@morganstanley.com +1 212 761-3829

Hailey Horowitz

Lp(a)HORIZON CVOT in patients with established CVD and elevated Lp(a). NVS Research Associate

(covered by Thibault Boutherin - see his team's preview here) is expected to report Hailey.Horowitz@morganstanley.com +1 212 761-5264

Rohit Bhasin

top-line data from the trial in the coming weeks. The trial’s primary endpoint is Research Associate

expanded MACE / MACE-4, defined as CV death, nonfatal MI, nonfatal stroke, or Rohit.Bhasin@morganstanley.com +1 212 761-0534

urgent coronary revascularization requiring hospitalization, tested in both the Morgan Stanley India Company Private Limited+