2H26 Biopharma Catalyst Calendar

研报英文原文证据摘录

2H26 Biopharma Catalyst Calendar

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3 oncology programs, CATX's update on VMT-α-NET, CNTB's PhII in acute asthma/ INDUSTRY RISKS

COPD, CMPX's PhI expansion data with CTX-8371 in 4Q, CNTX's PhI CT-95 data in Companies may fail to achieve development,

Sept, IMNM's PhI/II data from IM-1021, and SRPT's PhI update in FSHD and DM1 in 2H. regulatory, or commercial objectives.

• AMSELLEM: A catalyst-rich 2H26 ahead. Out of our coverage, the back half of

2026 is arguably most consequential for Bristol Myers Squibb (BMY), given a broad

slate of Phase III readouts that will shape the company’s growth profile beyond

the Eliquis loss of exclusivity (LOE) in 2028. Milvexian’s Phase III topline data in

atrial fibrillation (LIBREXIA-AF) is a key event, as success here alone could go a

long way toward cushioning the impact of the Eliquis LOE. Beyond that, we are

watching Phase III data for Sotyktu in systemic lupus erythematosus (SLE), Cobenfy

in Alzheimer’s disease psychosis (AD-psychosis), admilparant in idiopathic pulmonary

fibrosis (IPF), and milvexian in secondary stroke prevention (SSP). For AbbVie (ABBV),

we expect Phase III data for lutikizumab and Rinvoq in hidradenitis suppurativa (HS),

and additional Phase II data for bretisilocin in major depressive disorder (MDD). We

are also keeping a cautious eye on Phase II data for emraclidine in schizophrenia

(i.e., recall that management has safely escalated doses up to 100 mg/day (the

failed EMPOWER studies evaluated doses up to 30 mg/day)), with ABBV planning

for further advancement. For Biogen (BIIB), we will see Phase III litifilimab data in

SLE (expert feedback on litifilimab’s mechanism in SLE has been positive; refer to

our note from 5/28/26 for details). For Amgen (AMGN), we expect to see Phase III