GILD: Highlights from the RBC Healthcare Conference

研报英文原文证据摘录

GILD: Highlights from the RBC Healthcare Conference

s, and despite the later-line data not yet being mature enough to have a clear long-term PFS

tail (we believe some investors have been concerned the K-M curves have not yet been presented), GILD believes the impressive

MRD negativity data provides an early predictor of deep and durable effects; they do not believe iMMagine-3 would need to

mature before moving anito-cel into 1L.

• When asked on their oral α4β7 for IBD - a program we think is getting increasing investor attention, mgmt was somewhat close

to the vest, noting more broadly that the program signals the broader I&I portfolio is coming together, characterizing the oral

α4β7 for IBD as a validated MoA (Entyvio) with data from the ph.II at a medical conference later this year (potentially UEGW or

ACG in October, or AIBD in December), and that they are also progressing with their IRAK4 inhibitor and TIPL2; we sensed the

framing from the company suggests the overall profile of the α4β7 may be competitive rather than clearly superior to Entyvio,

and commercial positioning will lean on convenience and combo optionality.

• Recall PURPOSE-365 (IM formulation of lenacapavir QD, once-yearly PrEP) had completed enrollment; mgmt noted they have

PK modeling from Yeztugo experience to demonstrate that serum levels can be maintained at the required protective threshold

across 52 wks and potentially beyond week 52 (which we think is commercially relevant given potential flexibility for patients

who delay their annual injection). The company sounded confident in their prior conversations with regulators, who had agreed

to a PK-based study; we continue to view the once-yearly as a meaningful convenience enhancement, though its ability to