Quick 2H26 Outlook for our CNS Coverage

研报英文原文证据摘录

Quick 2H26 Outlook for our CNS Coverage

CNS

FLASH

FLASH: Quick 2H26 Outlook for our CNS Coverage June 29, 2026

We updated our thoughts for Biotechnology – Neuroscience sub-sector based

on investor inbounds and feedback from recent meetings. Moving into 2H26, we

remain bullish for the CNS space, highlighting some of the key catalysts and

themes within our coverage universe:

We continue to like the psychedelics space: rli@wolferesearch.comRudy Li

●CMPS (OP) – This is one of the best stories in the psychedelic space, where (646) 582-9375 View Rudy’s Research

we remain very bullish overall, with a favorable setup heading into 2H26. Lead View Comp Table

asset COMP360 would be the first-to-market psilocybin therapy for treatment-

resistant depression (TRD), a large but very difficult indication. While some

investors think the efficacy appears to be modest vs other psychedelic drugs, we

believe the totality of the data supports a strongly favorable and differentiated

risk/ benefits profile where we see a clear approval path. Importantly, we

believe the Commissioner's National Priority Voucher (CNPV) is a game changer

to establish COMP360 as the SOC psilocybin therapy with its first-to-market

advantage, not just a key de-risking event for US approval. We also expect

strong demand given the high awareness and unmet needs, achieving >$1B in

peak sales. We expect the stock to maintain strong momentum into 2H26.

●DFTX (OP) - The stock had a strong move following the positive Emerge data,

with very positive feedback from investors. DFTX was our top pick for 2026,

and it remains a compelling psychedelic play moving into the 2 upcoming

Phase 3 GAD readouts in 3Q. We believe both readouts have a good chance of

working and would move the stock up to the $60 range. And the company may