Highlights From Post-ASCO Breast Cancer KOL Call

研报英文原文证据摘录

Highlights From Post-ASCO Breast Cancer KOL Call

TD SECURITIES (USA) LLC CONFERENCE CALL

June 11, 2026

■Biotechnology Highlights From Post-ASCO Breast Cancer

KOL Call

TD Cowen Biotechnology Team THE TD COWEN INSIGHT

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Our KOL was impressed by CELC's V-1 MT data and believed full coverage of the 2L would lead

biotechteam@tdsecurities.com

to prescribing based on disease severity instead of mutational status, envisioning 50-60% as

TD Cowen Pharmaceutical Team potential geda candidates. He was also bullish on RLAY's zovega, which he thinks will succeed

617 946 3923 in Ph3 with ~12 mos mPFS and capture majority share in 2L+ PIK3CA MTs. SERDs, KAT6, CDK4,

pharmateam@tdsecurities.com

and TROP2 also discussed.

Tara Bancroft, Ph.D.

646 562 1410 We hosted a breast cancer KOL for an investor webcast following ASCO 2026, during which

tara.bancroft@tdsecurities.com we discussed programs from a number of companies under coverage including CELC, RLAY,

Tyler Van Buren ONC, OLMA, GILD, LLY, RHHBY, and AZN.

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Key takeaways are listed below and fleshed out in greater detail in the PDF.

tyler.vanburen@tdsecurities.com

■KOL Was Impressed With VIKTORIA-1 MT Data At ASCO And Believed It Would Be

Yaron Werber, M.D. "Practice Changing" For Many Patients

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yaron.werber@tdsecurities.com ■The Similar Doublet Performance Could Be Due To Sample Size Differences Or Use Of

Weaker CDK4/6 In Triplet

Michael Nedelcovych, Ph.D.

617 946 3744 ■Geda's AE Profile Is Surprisingly, But Distinctly, Improved vs. The Class

michael.nedelcovych@tdsecurities.com

■KOL Expects Up To 60% Of 2L PIK3CA-MT Patients Will Be Candidates For Geda, While

The Rest Could Eventually Receive It In The 3L

■The Triplet May Be Best For Patients With Reduced CDK4/6 Exposure In 1L Or With Higher