U.S. Biotechnology Catalyst/Event Tracker: Sorting Through 550+ Catalysts for 100+ Biotechs - *June 2026 Edition*

研报英文原文证据摘录

U.S. Biotechnology Catalyst/Event Tracker: Sorting Through 550+ Catalysts for 100+ Biotechs - *June 2026 Edition*

age-related macular degeneration (wet

AMD), which are expected in mid-2026 (with the topline results from the phase 3 LUCIA

trial to follow shortly thereafter), represent key catalysts/binary-events for the stock. At

a high level, we believe both trials have a high likelihood of success driven by: 1) the data

from the phase 2 DAVIO 2 trial (noting Duravyu’s impressive extended durability with

high rescue-free rates as well as its favorable safety profile); 2) the overall trial design,

which follows an established non-inferiority regulatory pathway; and 3) the three

positive outcomes from the independent Data Safety Monitoring Committee (DSMC)

reviews of the ongoing phase 3 trials and recommendations to continue the trials as

planned, as well as the recent favorable interim masked safety update. And,

competitively, we believe Duravyu could potentially be the first TKI to market, by

leveraging a de-risked regulatory approach, which could potentially drive a better overall

profile/label than its main competitor.

• Ionis (IONS, OW; Fye), Alnylam (ALNY, OW, Fye): While there’s a chance, we

think base case for Wainua is a trend in the stabilizer subgroup of CARDIO-

TTRansform. We see the key debate around Wainua’s 2H26 phase III CARDIO-

TTRansform readout in ATTR-CM as less about whether it hits the primary composite

endpoint (CV death + recurrent CV events), and more about whether it can also deliver

a stat sig benefit on top of background stabilizer. While this is a key incoming question,

we think the market’s base case is for a favorable trend in the stabilizer subgroup that

comes in shy of stat sig (prior note here).