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    John Wolleben

    Managing Director at JMP Securities

    Jonathan Wolleben is a Managing Director at Citizens JMP (JMP Securities), specializing in equity research of early-stage and mid-cap healthcare and biotechnology companies. He covers firms including Madrigal Pharmaceuticals, Larimar Therapeutics, Pharvaris, Astria Therapeutics, Quince Therapeutics, Ocular Therapeutix, Crinetics Pharmaceuticals, and others. Wolleben’s performance metrics include a 4.4-star analyst rating on TipRanks, a historical success rate ranging from 45%–50%, and average returns exceeding +19% on several recommendations, with individual calls such as a +416% return for Madrigal Pharmaceuticals and a 104% profit on Ocular Therapeutix. His career at JMP Securities began in late 2016, progressing from Associate Biotech Analyst through Senior Associate, Vice President, Director, and Managing Director since February 2023; previously, he earned BS and MS degrees from Carnegie Mellon University focusing on biological sciences and biotechnology management. He is FINRA-registered and possesses key securities licenses required for equity research.

    John Wolleben's questions to MADRIGAL PHARMACEUTICALS (MDGL) leadership

    John Wolleben's questions to MADRIGAL PHARMACEUTICALS (MDGL) leadership • Q3 2024

    Question

    An analyst on behalf of John Wolleben asked how payers are currently managing patients on both GLP-1 therapies and Rezdiffra, and how this might predict future dynamics if a GLP-1 is approved for NASH.

    Answer

    CEO William Sibold estimated that approximately 25% of Rezdiffra patients are concurrently using a GLP-1 for comorbidities, with market research suggesting up to 50% have prior exposure. He explained that physicians are treating NASH as a distinct condition requiring Rezdiffra, regardless of a patient's GLP-1 history, which he believes positions the company strongly for any future market changes.

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