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Akash Kashi

Managing Director and Global Head of Biopharmaceutical Research at Jefferies

Akash Tewari is a Managing Director and Global Head of Biopharmaceutical Research at Jefferies, specializing in SMID cap biotech and specialty pharmaceuticals. He covers companies such as Madrigal Pharmaceuticals (MDGL), Eli Lilly (LLY), argenx (ARGX), and Merck (MRK), with a TipRanks success rate of 38-56% across 286 ratings and an average return per rating of 3.2-4.56%, highlighted by a standout Buy call on MDGL that delivered +400.60% return. Tewari began his equity research career in 2015 as an associate at Evercore ISI, advanced to Vice President there until 2018, served as Managing Director at Wolfe Research from 2018 to 2021, and joined Jefferies in 2021. He holds recognition as an Institutional Investor runner-up in SMID cap biotech in 2020, though specific FINRA registrations are not detailed in available sources.

Akash Kashi's questions to PTC THERAPEUTICS (PTCT) leadership

Question · Q4 2025

Akash Kashi asked if Palynziq's upcoming PDUFA for adolescents with PKU is something to pay attention to. He also inquired about the gross-to-net for Sephience, specifically if the 15%-25% range previously mentioned should be expected this year.

Answer

Matthew Klein, CEO, stated that even with a potential label expansion for Palynziq, Sephience is expected to become the first-line treatment due to its oral convenience, strong safety, and efficacy profile, contrasting with Palynziq's administration challenges and titration. Pierre Gravier, CFO, clarified that Sephience's gross-to-net is currently at the lower end of the 15%-25% range and is expected to increase slowly and steadily over multiple quarters, not reaching the top end this year.

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