摩根士丹利生物科技无国界网络研讨会要点：GenFleet Therapeutics

PDF 第一页内容摘录（原文）

Not for redistribution without written consent of Morgan Stanley

M

Idea

July 31, 2026 03:25 PM GMT

Biotechnology | North America

Morgan Stanley & Co. LLC

Sean Laaman, Ph.D.

Equity Analyst

MS Biotech Without Borders

Webcast Takeaways: GenFleet

Therapeutics

Morgan Stanley Asia Limited+

Jack Lin

Equity Analyst

Morgan Stanley & Co. LLC

Katherine Sun

Research Associate

We hosted GenFleet's co-founder and Chairman of the Board Dr.

Qiang Lu and CMO Dr. Yu Wang to discuss the company's

pipeline and views around next-generation RAS modalities.

Morgan Stanley Asia Limited+

Vanessa Liao

Research Associate

GenFleet's (HKG: 2595, not covered) RAS strategy is centered on therapeutic

window, combinability, and expansion into earlier lines of therapy. Mgmt. linked

competitive differentiation to the ability to maintain dose intensity, support

Biotechnology

North America

Industry View

Attractive

combination regimens, and broaden utility across settings such as CRC and 1L

disease. The Verastem (VSTM, not covered) global partnership originated from a

shared interest in pancreatic cancer and MAPK biology/RAS pathway.

The emerging differentiation story for GFH375 increasingly centers on safety,

which in turn enables broader combination opportunities. While mgmt.

acknowledged the limitations of cross-trial comparisons with leading compounds

such as Revolution Medicines' (RVMD, not covered) daraxonrasib, it argued that

available data compare favorably on response rate and durability despite a more

heavily pretreated population. More importantly, mgmt. emphasized that a

manageable safety profile supports sustained dose intensity and combination

flexibility, particularly in CRC and 1L settings. The cetuximab combo was highlighted

as a key proof point, with mgmt. suggesting the ability to combine effectively with

EGFR-directed therapies may ultimately prove more important than incremental

differences in single-agent efficacy.

GenFleet presented GFH375 and GFH276 as complementary assets addressing

different dimensions of RAS biology. GFH375 is positioned around therapeutic

window and combination flexibility, while GFH276 is being developed to achieve

…