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    Alex Thompson

    Managing Director specializing in Biotechnology Equity Research at Stifel Financial Corp.

    Alex Thompson, PhD, is a Managing Director specializing in Biotechnology Equity Research at Stifel Financial Corp., with primary coverage of companies such as Ascendis Pharma, Cullinan Therapeutics, Kymera Therapeutics, Travere Therapeutics, Third Harmonic Bio, and Avalo Therapeutics. Thompson has issued 112 ratings across 15 healthcare stocks, with a Buy rating rate of over 70% and a price target met ratio of 47.86%, with an average potential upside of approximately 47.87% realized in 105 days. He joined Stifel in 2019, previously serving as Associate Vice President focused on SMID cap biotech, and his career also includes roles as a consultant at ClearView Healthcare Partners and a research intern at Genentech; he holds a PhD in organic chemistry from Yale and a BA from Hamilton College. Thompson is registered with FINRA (CRD# 7151041) and maintains relevant securities licenses.

    Alex Thompson's questions to Kymera Therapeutics (KYMR) leadership

    Alex Thompson's questions to Kymera Therapeutics (KYMR) leadership • Q2 2025

    Question

    Alex Thompson of Stifel asked about the chemical scaffold of the next-generation STAT6 degrader compared to KT-621 and inquired about the timing for a potential decision to split indications between the two assets.

    Answer

    CEO Nello Mainolfi described their chemistry platform as having a "plethora" of different scaffolds and binding moieties, providing significant IP protection. He explained that it is too early to define a strategy for splitting indications, and the company is focused on maintaining maximum optionality, especially now that its recent financing enables the initiation of multiple Phase 3 studies.

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    Alex Thompson's questions to Ascendis Pharma (ASND) leadership

    Alex Thompson's questions to Ascendis Pharma (ASND) leadership • Q2 2025

    Question

    Alex Thompson from Stifel asked about the proportion of Yorvipath prescribers who have multiple patients on therapy and how that trend might be evolving.

    Answer

    President & CEO Jan Møller Mikkelsen stated that the company does not yet have sufficient data to comment on the trend of prescribers treating multiple patients.

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    Alex Thompson's questions to Crinetics Pharmaceuticals (CRNX) leadership

    Alex Thompson's questions to Crinetics Pharmaceuticals (CRNX) leadership • Q2 2025

    Question

    An analyst on behalf of Alex Thompson from Stifel Financial Corp. asked how many patients are currently in the open-label extension (OLE) for paltusotine and how quickly they are expected to transition to commercial drug post-launch.

    Answer

    CEO R. Scott Struthers noted that OLE patients are located globally. Chief Medical & Development Officer Dana Pizzuti clarified that a decision on the transition will be made after the PDUFA date and that only a small number of the total OLE patients are in the U.S. and would be eligible to switch to the commercial supply.

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    Alex Thompson's questions to Travere Therapeutics (TVTX) leadership

    Alex Thompson's questions to Travere Therapeutics (TVTX) leadership • Q2 2025

    Question

    Alex Thompson from Stifel inquired about the launch progress by partner CSL Vifor in Europe and when Travere might expect to see meaningful royalty revenue from ex-U.S. sales.

    Answer

    President & CEO Dr. Eric Dube deferred to CSL Vifor for specific performance commentary. CFO Chris Cline added that as CSL Vifor progresses through the country-by-country reimbursement process, revenues and subsequent royalties are expected to pick up, and the company will share more information as it becomes available.

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    Alex Thompson's questions to ARGENX (ARGX) leadership

    Alex Thompson's questions to ARGENX (ARGX) leadership • Q2 2025

    Question

    Alex Thompson from Stifel Institutional inquired about the evolution of Vyvgart cycles per year in Myasthenia Gravis (MG) and whether a higher gross price per patient was a key driver of the increased gross-to-net ratio.

    Answer

    CFO Karl Gubitz clarified that net revenue per patient for MG and CIDP remains consistent, with variables like product mix and utilization offsetting the gross-to-net impact, and confirmed no US price increases in 2025. COO Karen Massey added that while the company guides to five cycles per year for MG, the convenience of the prefilled syringe (PFS) could drive higher utilization as patients aim to maintain Minimum Symptom Expression (MSE).

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