Sign in

    Ellen Horste

    Research Analyst at TD Cowen

    Ellen Horste is an Equity Research Analyst with TD Cowen, specializing in coverage of biotechnology firms, notably including companies such as Kura Oncology where she regularly participates in earnings calls and industry discussions. She is recognized for her insightful analyses of clinical trial timelines and drug development risks, demonstrating a strong track record of critical questioning and sector expertise. Horste began her analyst career after earning a PhD in molecular biology, and has previously held scientific roles in biotech, including a payload engineer position at Apertura Gene Therapy in New York, before joining TD Cowen in 2024. She holds significant research fellowships, including the Ruth L. Kirschstein NIH fellowship, and her background includes advanced training in molecular genetics and translational research.

    Ellen Horste's questions to Theravance Biopharma (TBPH) leadership

    Ellen Horste's questions to Theravance Biopharma (TBPH) leadership • Q2 2025

    Question

    Ellen Horste of TD Cowen asked about the expected pace of SG&A expense increases associated with the Ampreloxetine commercial build-out, both before and after data.

    Answer

    CFO Aziz Sawaf stated that SG&A spending will remain stable until the CYPRESS data readout. If the data is positive, SG&A will increase for launch preparations, but he emphasized it would be a targeted and focused launch, not requiring 'huge levels' of incremental spend. CEO Rick Winningham reinforced this, noting the rare disease population of ~40,000 patients allows for an efficient commercial strategy.

    Ask Fintool Equity Research AI

    Ellen Horste's questions to Kura Oncology (KURA) leadership

    Ellen Horste's questions to Kura Oncology (KURA) leadership • Q2 2025

    Question

    Ellen Horste asked about the biggest potential risks to the pivotal program timelines that could delay data past 2028 and whether there is any risk associated with running combined studies for both KMT2A and NPM1 populations.

    Answer

    Chief Medical Officer Dr. Mollie Leoni responded that the 2028 timeline was set conservatively and they remain confident in meeting it. She added that based on robust data from the COMET-seven trial, the company has extensively modeled the combined populations and does not see it as a risk, viewing it as a strength of the trial design.

    Ask Fintool Equity Research AI

    Ellen Horste's questions to BIOMARIN PHARMACEUTICAL (BMRN) leadership

    Ellen Horste's questions to BIOMARIN PHARMACEUTICAL (BMRN) leadership • Q2 2025

    Question

    Ellen Horste from TD Cowen asked about the definition of success for the BMN 401 ENERGY-3 trial, including functional endpoints for ex-U.S. approval, and inquired about the number of identified patients for ENPP1 deficiency.

    Answer

    Gregory Friberg, EVP and Chief R&D Officer, explained that success in Europe is defined by co-primary endpoints: normalization of pyrophosphate levels and a functional measure of bone quality via a radiologic index. Cristin Hubbard, EVP and CCO, added that while the total addressable population is estimated at 2,000-2,500, over 600 patients have already been identified, and BioMarin will leverage its diagnostic expertise to find more.

    Ask Fintool Equity Research AI

    Ellen Horste's questions to BIOMARIN PHARMACEUTICAL (BMRN) leadership • Q2 2025

    Question

    Ellen Horste from TD Cowen asked what would constitute success for the BMN-401 (formerly INZ-701) ENERGY-3 trial, including functional endpoints, and inquired about the number of identified patients and the strategy for finding the estimated 2,000-2,500 total patients.

    Answer

    EVP & Chief R&D Officer Gregory Friberg explained that success involves co-primary endpoints of normalizing pyrophosphate levels and improving a radiologic index of bone quality. EVP & CCO Cristin Hubbard added that while Inozyme had identified over 600 patients, BioMarin will leverage its established infrastructure and diagnostic expertise within its enzyme therapy unit to find the remaining patient population, as the treating specialists overlap significantly.

    Ask Fintool Equity Research AI

    Ellen Horste's questions to Syndax Pharmaceuticals (SNDX) leadership

    Ellen Horste's questions to Syndax Pharmaceuticals (SNDX) leadership • Q1 2025

    Question

    Ellen Horste from TD Cowen asked for color on the month-over-month trends for new Revuforj patient starts in Q1 and details on the free drug rate and its expected trajectory.

    Answer

    Chief Commercial Officer Steven Closter stated that while specific monthly numbers would not be provided, there was a strong ramp from Q4 2024 into Q1 2025. He mentioned it would take at least two full quarters to see a stable run rate. Regarding patient assistance, he reported that the free drug rate is very low, in the single digits, due to efficient execution, strong formulary coverage, and a well-defined patient assistance program.

    Ask Fintool Equity Research AI