Foveal LLP Independent Investment Research Foveal Research

Ahead of BMY’s SUCCESSOR-2 late-breaker at ASCO next weekend, our mezigdomide report examins whether the market is still too conservative on its clinical and commercial relevance in post-lenalidomide relapse. Our focus is less on whether the programme has activity at all, and more on whether the current framing understates its potential to drive a more meaningful backbone reset if Phase III superiority and commercial uptake prove sufficient.

Our latest detailed adjuvant SERDs analsyis reveals a potential mispricing emerging between Roche and AstraZeneca, with the market potentially extrapolating lidERA into a broader commercial opportunity than is warranted,