Weekend Reading: Alpha Capture with Seamus Fernandez - Key Upcoming Catalysts in Our Biotech Coverage, Starting with AMLX and TENX Phase 3 Readouts in AUGUST

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Weekend Reading: Alpha Capture with Seamus Fernandez - Key Upcoming Catalysts in Our Biotech Coverage, Starting with AMLX and TENX Phase 3 Readouts in AUGUST

Global Biopharmaceuticals July 24, 2026

Seamus Fernandez

seamus.fernandez@guggenheimpartners.com Weekend Reading: Alpha Capture with Seamus

617 859 4637 Fernandez - Key Upcoming Catalysts in Our Biotech Evan Wang

evan.wang@guggenheimpartners.com Coverage, Starting with AMLX and TENX Phase 3

212 651 9756

Readouts in AUGUST Alana Lelo, Ph.D.

alana.lelo@guggenheimpartners.com

212 518 9955 Key Message: Ahead of an eventful period for our SMID cap coverage in 2H26 and 2027,

Zach Dunn, Ph.D. we thought a little weekend reading highlighting a wide array of mission-critical clinical

zach.dunn@guggenheimpartners.com and regulatory potential catalysts would be perfect for a little early weekend reading

617 859 4603 before earnings season kicks off in earnest. Valuations have risen across the sector, but

Colleen Garvey, Ph.D. we see plenty of upside potential upon success, starting with mission-critical Phase 3

colleen.garvey@guggenheimpartners.com readouts in August for AMLX and TENX. We also highlight major anticipated Phase 3

617 859 4664 readouts from PCVX (4Q26), IVA (4Q26), and SGMT (2H27), as well as Phase 1 and

Phase 2 readouts across our broader SMID cap coverage. Read up — we look forward

to chatting with you before top-line results are revealed.

Ticker Price Rating A sortable Excel-based spreadsheet can be downloaded HERE.

ACRS 5.48 Buy

AMLX 17.59 Buy Upcoming Phase 3s and/or Approvals In 2H 2026 (in sequential

APGE 134.26 Neutral

ARCT 5.79 Neutral order of the catalysts):

ARQT 27.33 Buy 1. APGE – The journey for our former "BEST IDEA" will close its final chapter