DMRA: 1Q26: '001 On Track; We Continue to Believe DMRA Has The Optimal Approach To mCALR

研报英文原文证据摘录

DMRA: 1Q26: '001 On Track; We Continue to Believe DMRA Has The Optimal Approach To mCALR

for DMR-001, DMRA's own mCALR antibody is expected mid-year, setting 2026 (0.62)A (0.48)E (0.54)E (0.59)E

up for initial data in mid-'27. We believe DMR-001's improved properties, Prev. (0.65)E (0.51)E (0.57)E (0.64)E

including half-life extension through YTE Fc modifications, convenient All values in USD unless otherwise noted.

potential Q4W subQ dosing, and potentially narrower relative potency Priced as of prior trading day's market close, EST (unless otherwise noted).

against type 1 and non-type 1 CALR mutations all serve to address INCY's

'989 shortcomings, in our view, even if the latter may be eventually

formulated as an on-body injector, which may have associated challenges

of its own. The co highlighted a potential ph.I design with starting doses

closer to therapeutic levels, which could additionally enable signal finding

much earlier on, especially honing in on the right dose that leads to non

type-1 efficacy. DMRA's EHA abstract largely recapitulates data that we

have seen before, though may include additional reporter assay data on

downstream signaling inhibition in both type 1 and type 2 CALR models,

which could support improved relative potency for '001 in these subtypes.

Recent competitor updates favorable for DMRA, in our view. INCY's EHA

update today further supports CALR as a validated target across both 2L

MF and ET, and earlier alignment with the FDA on a shorter, 24-week

registrational program in ET vs. traditionally 52 weeks should have positive

readthroughs to DMRA's own development path, as it could potentially

help shave some time off of timelines and importantly, have the Agency be

familiar with the MoA and associated endpoints before DMRA has to align