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June Lee

Managing Director and Senior Biotech Analyst at Truist Securities

Joon Lee is a Managing Director and Senior Biotech Analyst at Truist Securities, specializing in healthcare equity research with a primary focus on biotechnology and medical sectors. He covers specific companies such as Viking Therapeutics (VKTX), argenx (ARGX), Axsome Therapeutics (AXSM), PTC Therapeutics (PTCT), Arvinas (ARVN), and others, achieving a strong performance track record including a 51% success rate, average return of 25% per rating on TipRanks, and a standout +652.50% return on his Buy rating for VKTX. Ranked #181 out of 9,389 Wall Street analysts, Lee has issued predominantly Buy recommendations with high accuracy since starting coverage in 2014, delivering consistent profits for investors. He holds FINRA registrations as a broker at Truist Securities, with a career centered at the firm in biotech analysis.

June Lee's questions to Ultragenyx Pharmaceutical (RARE) leadership

Question · Q4 2025

June Lee asked about the primary endpoint selection for the Phase 3 Angelman study (Bayley-IV cognition versus expressive communication), inquiring if the choice was based on higher success probability or parental priority. She also asked about the percentage of Phase 3 patients opting to roll over into the long-term extension study.

Answer

CEO Emil Kakkis explained that Bayley cognition is a fundamental activity intertwined with communication, which takes more time to develop. He noted that while expressive communication is evaluated, it was not chosen as a primary endpoint due to its heterogeneity and developmental complexities. Kakkis highlighted the Multidomain Responder Index as a broader assessment important to parents. CMO Eric Crombez added that the Phase 3 studies show a very high retention rate, with patients electing to continue in the long-term extension, similar to Phase 1/2.

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