Biotechnology: Takeaways From Our KOL Call: The nccRCC Landscape

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Biotechnology: Takeaways From Our KOL Call: The nccRCC Landscape

Idea

June 10, 2026 02:59 AM GMT

Morgan Stanley & Co. LLCMBiotechnology | North America Sean Laaman, Ph.D.

Equity Analyst

Takeaways From Our KOL Call: Sean.Laaman@morganstanley.comKatherine Sun +1 212 761-4947

Research Associate

Katherine.Sun@morganstanley.com +1 212 761-5968

The nccRCC Landscape Michael H Riad, Ph.D.

Michael.Riad@morganstanley.com +1 212 761-1309

We hosted a KOL to discuss renal cell carcinoma (RCC), with a Morgan K Gryga

focus on non-clear cell RCC (nccRCC) ahead of Exelixis' ResearchMorgan.Gryga@morganstanley.comAssociate +1 212 761-0824

zanzalintinib Ph3 STELLAR-304 results expected in 2H26.

Biotechnology

North America

Industry View Attractive

Our KOL is a physician‑scientist specializing in genitourinary malignancies, with a

focus on renal cell carcinoma and other solid tumors. They are an associate professor

and research leader at a leading cancer center, where their work centers on

translational research with the goal of identifying actionable drivers of disease

progression and informing novel treatment strategies.

Treatment in non-clear cell RCC continues to rely heavily on extrapolation from

clear cell RCC, with gradual but incomplete movement toward subtype-specific

care. Our KOL emphasized that IO or IO+TKI combos remain their default 1L

approach in nccRCC, with combo therapy (i.e. pembro+len) generally preferred in

aggressive disease such as sarcomatoid differentiation due to higher responsiveness.

In contrast, chromophobe tumors are seen as less responsive, and aggressive

subtypes such as renal medullary carcinoma and NF2-driven tumors remain a major

unmet need, with our KOL emphasizing limited efficacy of IO or TKIs and greater

reliance on chemo-based approaches.