Cha Cha Yang

Cha Cha Yang asked about WVE-007's expected kinetics for fat loss, weight loss, and lean muscle mass change over the next six to nine months based on preclinical PK data, and which trials and programs are included in the 2028 cash runway.

Answer

Paul Bolno, President and CEO, stated that WVE-007's kinetics are tracking well with preclinical animal modeling data, showing an acceleration into the weight loss curve driven by fat reduction and slight lean mass increase. He expects continued fat reduction with time and higher doses, with follow-up out to a year. The 2028 cash runway includes delivering WVE-006 data and regulatory interactions, funding the WVE-007 Phase IIa study and accelerating add-on/maintenance studies, and the WVE-008 CTA submission and clinical trial.

Cha Cha Yang from Jefferies requested updates on studies to understand the mechanism of injection site reactions (ISRs) and the strategies being developed to mitigate them for commercialization.

Answer

Chief Research & Development Officer Jonathan Zalevsky reported that studies using skin organoids confirm ISRs are a known IL-2 effect, and Nektar is identifying specific pathways for targeted mitigation. He also noted that the commercial launch will feature a prefilled syringe or auto-injector, which will standardize administration and is expected to reduce ISRs. CEO Howard Robin emphasized that ISRs are not a commercial barrier, citing low trial dropout rates and their mild, self-resolving nature, which he contrasted with more concerning side effects of competing drugs.

Cha Cha Yang, on behalf of Roger Sange, asked about patient adherence and persistence with BRIUMVI's biannual infusion schedule and also requested specific financial guidance for the third quarter.

Answer

Chief Commercial Officer Adam Waldman clarified that the company does not provide specific quarterly guidance, but reiterated the full-year guidance and the expected growth trend from Q3 to Q4. Regarding adherence, he stated that patient persistence at week 24 and preliminary data at week 48 remain strong and are tracking above internal expectations and published data for other CD20 therapies.