US Biotechnology Small/Mid Cap "1Q Wrap + Model Updates: KURA, JSPR" Dai

研报英文原文证据摘录

US Biotechnology Small/Mid Cap "1Q Wrap + Model Updates: KURA, JSPR" Dai

Global Research

19 May 2026ab

US Biotechnology Small/Mid Cap Equities

North America1Q Wrap + Model Updates: KURA, JSPR

Healthcare

David Dai

KURA: Look for reimbursement trends and combination opportunities in 2026 Analyst

KURA recently reported encouraging 1Q26 revenue of $5.8M for Komzifti reflecting david.dai@ubs.com

~85 new patient starts in the first full quarter since launch (see our 1Q26 recap note). +1-212-713 6241

Mgmt highlighted positive physician feedback with an early signal of ~40%

combination use with ven/aza or gilteritinib. We also view mgmt's commentary on

physicians switching patients to Komzifti from other menin inhibitors as an encouraging

launch signal, suggesting confidence in Komzifti's differentiated and clean label. We will

continue to track combination use in earlier lines of therapy as this may extend duration

of therapy and deepen responses. Mgmt is confident that upcoming data presentations,

including KOMET-007, at major medical meetings will further support physician

willingness to adopt off-label combination use. We believe KURA's commercial strategy

is well-positioned with mgmt citing favorable access for Komzifti including over 93%

covered lives are at parity or better highlighting positive access. While potential step-edit

dynamics remain ongoing, KURA believes 10 plans favoring Komzifti representing

~12M lives is an encouraging early signal.

KOMET-007 updates and ccRCC darlifarnib data could drive incremental

use. KURA recently announced updated data from KOMET-007 evaluating zifto

+ 7+3 and we look towards a more comprehensive presentation at EHA 2026. If

subsequent readouts remain positive, we believe KURA could unlock a significant

~$7B 1L oppt'y.