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    Jon Wolleben

    Managing Director and Senior Equity Analyst at Citizen JMP

    Jon Wolleben is a Managing Director and Senior Equity Analyst at Citizens JMP, specializing in biotechnology and life sciences with a focus on early-stage healthcare companies. He covers a range of public biotech firms including Madrigal Pharmaceuticals and Larimar Therapeutics, and has achieved a 5-star rating with an average return of 10.9% and a success rate of 48.6% on TipRanks, highlighted by single-stock returns exceeding 400%. Starting his equities research career in 2016 at Citizens JMP, Wolleben has advanced from Senior Associate to Managing Director, leveraging a solid academic foundation with degrees in Biological Sciences (BS) and Biotechnology & Management (MS) from Carnegie Mellon University. His credentials include securities industry registrations and a recognized track record in public speaking and industry analysis.

    Jon Wolleben's questions to Skye Bioscience (SKYE) leadership

    Jon Wolleben's questions to Skye Bioscience (SKYE) leadership • Q2 2025

    Question

    Jon Wolleben of Citizen JMP questioned how the upcoming CBEYOND data might guide development strategy across the potential maintenance, monotherapy, and combination therapy modalities for Nimazumab.

    Answer

    President, CEO & Director Punit Dhillon highlighted the significant, underappreciated market for maintenance therapy given high incretin discontinuation rates, alongside clear opportunities in monotherapy and combination therapy. Chief Operating Officer Tu Diep added that KOLs are eager for new, non-incretin modalities that offer better tolerability and different benefits beyond pure weight loss.

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    Jon Wolleben's questions to Mirum Pharmaceuticals (MIRM) leadership

    Jon Wolleben's questions to Mirum Pharmaceuticals (MIRM) leadership • Q2 2025

    Question

    Jon Wolleben of Citizens JMP asked for evidence that pruritus in PSC is driven by excess bile acids and inquired about any sales inflection for the bile acid portfolio (CTX) since gaining the ability to promote it.

    Answer

    Chief Medical Officer Joanne Quan explained that while bile acids play a role, the core issue in PSC is cholestasis, and serum bile acid levels are likely less important than in other indications. COO & President Peter Radovich stated that for the bile acid portfolio, he expects a "gradual steady build" in sales rather than a sharp inflection due to laborious patient finding.

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    Jon Wolleben's questions to OCULAR THERAPEUTIX (OCUL) leadership

    Jon Wolleben's questions to OCULAR THERAPEUTIX (OCUL) leadership • Q2 2025

    Question

    Jon Wolleben from Citizens JMP asked for the specific feedback that led to the SOLAR rescue criteria change and inquired about the company's expectation for the cadence of rescues between EYLEA and axpaxly in the SOUL-one trial.

    Answer

    Pravin Dugel, Executive Chairman, President & CEO, explained the feedback came from investigators who wanted the trial's rescue criteria to reflect their real-world clinical practices, which can be more liberal. Regarding rescue cadence in SOUL-one, he stated that the masked data shows a pattern of rescues consistent with their hypothesis for how the two different agents would perform over time, reinforcing their confidence in the trial's design and potential outcome.

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    Jon Wolleben's questions to OCULAR THERAPEUTIX (OCUL) leadership • Q2 2024

    Question

    An analyst on for Jon Wolleben asked for an updated number of randomized patients in the SOL-1 trial since the June Investor Day and requested any guidance on the trial's screen failure rate.

    Answer

    Dr. Pravin Dugel, President and CEO, reiterated the Investor Day update that 151 patients were in various stages of loading and randomization but did not provide a more recent figure. He confirmed that the screen failure rate for SOL-1 remains lower than initially modeled, which is why the company anticipates that most future SOL-R patients will be recruited externally rather than from SOL-1 screen failures. He emphasized that SOL-1 recruitment is now in an 'exponential phase.'

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    Jon Wolleben's questions to BIOCRYST PHARMACEUTICALS (BCRX) leadership

    Jon Wolleben's questions to BIOCRYST PHARMACEUTICALS (BCRX) leadership • Q2 2025

    Question

    Jon Wolleben of Citizen JMP asked about the typical push-and-pull dynamics for revenue in the second half of the year and whether the positive trends from Q2 were expected to persist.

    Answer

    President & CCO Charlie Gayer explained that second-half growth is primarily driven by new patient starts, which can slightly lower the overall paid rate temporarily, and lacks the large reauthorization-driven bolus seen in H1. CEO Jon Stonehouse added that Q4 revenue will exclude European sales. Despite these factors, Gayer affirmed confidence in reaching the upper half of the $580M-$600M full-year guidance range after accounting for the divestiture.

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    Jon Wolleben's questions to RHYTHM PHARMACEUTICALS (RYTM) leadership

    Jon Wolleben's questions to RHYTHM PHARMACEUTICALS (RYTM) leadership • Q3 2024

    Question

    An analyst on behalf of Jon Wolleben asked about the current reimbursement paid rate, reasons for denials in the U.S., and any early discussions with payers regarding hypothalamic obesity (HO).

    Answer

    Chief Financial Officer Hunter Smith and Chairman, CEO and President David Meeker clarified that IMCIVREE has high coverage from commercial and Medicaid payers but essentially none from Medicare due to statutory limitations on obesity drugs. They noted that about 20% of scripts transition to free drug and that denials are typically based on payer policy rather than the drug's price. The question about early payer discussions for HO was not directly addressed.

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    Jon Wolleben's questions to Clearside Biomedical (CLSD) leadership

    Jon Wolleben's questions to Clearside Biomedical (CLSD) leadership • Q4 2023

    Question

    Asked how the patient population in the ODYSSEY trial compares to other mid-stage wet AMD studies and inquired about the safety profile of the suprachoroidal administration approach compared to other candidates.

    Answer

    The executive explained that the ODYSSEY trial made a concerted effort to enroll lightly treatment-experienced patients with documented active fluid, which they believe is a more rigorous approach than some other trials. Regarding safety, he stated that the suprachoroidal injection has a very good safety profile, comparable to intravitreal injections, with no specific safety issues observed in their clinical trials to date.

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