Foveal LLP Independent Investment Research Foveal Research

CYTK/BMY: aficamten approvable, but may not be better than BMY rival Camzyos

MRK: One big hit amongst smaller approvable assets

BMY/JNJ/BAYN: Bayer AF failure does not reduce chances for Factor XI in stroke

AZN/GILD/Daiichi: ADC's face stiff hurdles in 1st line lung cancer

JNJ/PTGX: JNJ2113: Oral dosing faces hurdles of new rival classes in psoriasis & Ulcerative Colitis

MRK/MRNA: ASCO: vaccine-PD1 similar to historic PD1 alone

NOVN: NATALEE's Kisqali of Life

Still no light from TIGIT trials at ASCO23

mRNA-PD1 cancer vaccine trial control arm may have underperformed

Little hope in TIGIT trials to date