Biotechnology: Takeaways from our 2026 Healthcare Conference

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Biotechnology: Takeaways from our 2026 Healthcare Conference

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Biotechnology

Takeaways from our 2026 Healthcare

Conference

Price Objective Change

2026 Bank of America Healthcare Conference 14 May 2026

In this report, we highlight key takeaways from fireside chats with some of our covered Equity

companies at the 2026 BofA Healthcare Conference in Las Vegas. See inside for details United States

on ACAD, ALNY, AMGN, ANNX, ARGX, BCAX, BCRX, BLTE, DNLI, FDMT, KYMR, Biotechnology

NBIX, OCUL, PHVS, PTCT, RARE, SRRK, and TSHA. Tazeen Ahmad

Research Analyst

BofASACAD: Remlifanserin first psychosis data in Aug-Oct tazeen.ahmad@bofa.com

Acadia Pharmaceuticals (ACAD, Buy, $29 PO): We hosted Catherine Owen Adams,

Daniel Giraldo

CEO, and Liz Thompson, EVP and Head of Research & Development, for a fireside chat Research Analyst

at our annual Healthcare Conference to discuss the commercial and clinical-stage BofAS daniel.giraldoperez@bofa.com

product portfolio. On remlifanserin (ACP-204) in Alzheimer’s disease psychosis, a phase Jeremiah Lorentz

2 readout is expected Aug-Oct with a primary endpoint of change in SAPS-H+D at 6 Research Analyst

weeks at 30 and 60 mg vs placebo. As a cousin of pimavanserin designed to mitigate QT BofAS jeremiah.lorentz@bofa.com

prolongation signals, ACAD is aiming to explore higher exposures of 5-HT2A inverse Wesley Yon

agonism with remlifanserin which were limited by safety signals with pimavanserin but Research Analyst

demonstrated promising early efficacy. Our doctor checks are optimistic on a positive BofASwesley.yon@bofa.com

readout given prior pimavanserin data. On competitive landscape, management cites the

large 7mn US Alzheimer’s population with ~30% experiencing psychosis and that the

market could support multiple players.