JEF @ ADA26: Our Thoughts on INHBE/ ALK7 Updates

研报英文原文证据摘录

JEF @ ADA26: Our Thoughts on INHBE/ ALK7 Updates

USA | Biotechnology EquityJuneResearch8, 2026

JEF @ ADA26: Our Thoughts on INHBE/ ALK7

Updates

We took a look at all the INHBE/ ALK7 posters and presentations at ADA26

and note primarily pre-clinical data updates for INHBE siRNA assets as mono,

combo, and maintenance therapies w/ one clinical update outside of WVE's

WVE-007 from BaseCure Therapeutics w/ a Ph1b data update. We also

highlight early promising data for bivalent genetic products combining INHBE

or ALK7 w/ other obesity targets of interest.

Bottom line. With >10 posters and presentations on INHBE/ ALK7 (the majority of which were for

INHBE) at ADA26 this year, we see ongoing interest in these novel targets for obesity w/ WVE's WVE-007

continuing to be the furthest along in the clinical development for obesity.

Besides WVE-007, the only clinical data presented was from BaseCure Tx which presented Ph1b

update for its INHBE siRNA, BC-006, that showed inferior efficacy at ~3mo vs WVE-007 on visceral

fat (pbo adj ~2-4% vs pbo-adj 7.8% at 240mg/ 5% at 400mg) and total fat (estimated pbo adj 1-3%

vs pbo adj 5% at 240mg/ 0.7% at 400mg) reduction, validating WVE's unique chemistry platform

for superior potency/ specificity of targeting INHBE. The lack of dose dependence from across

BaseCure's 4 doses is also notable which is interesting to us as we also did not see clear dose

dependence in WVE-007's last update for its 400mg 3mo data -- this may be due to limited fat

at baseline given low BMI and/or need for longer follow-up, but it could also indicate the target

saturation/ max INHBE protein knockdown already achieved w/ low doses and/ or the effects of

downstream compensatory mechanisms post-INHBE knockdown. BaseCure announced its plans