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Mark Hoffman

Senior Equity Research Associate in BioPharma at BMO Capital Markets

Malcolm Hoffman is a Senior Equity Research Associate in BioPharma at BMO Capital Markets, specializing in biotechnology and pharmaceutical research with a focus on areas like obesity medicine. He contributes to insights on emerging therapies and clinical developments, including discussions on GLP-1 treatments and vasomotor symptom studies, though specific companies covered and quantitative performance metrics such as success rates or rankings are not detailed in available records. Hoffman began his finance career after graduating from the University of Pittsburgh in 2019, joining BMO Capital Markets as an equity analyst in 2022. He holds FINRA registrations with 2 years of experience, 0 disclosures, and 1 state license through BMO Capital Markets Corp.

Mark Hoffman's questions to AbbVie (ABBV) leadership

Question · Q4 2025

Mark Hoffman asked how ABBV-932 (D3/D2 targeting) might compare to Vraylar in bipolar depression, given its heavier D3 reliance, and if there are plans to expand into indications like addiction.

Answer

Roopal Thakkar, EVP, R&D, and Chief Scientific Officer, stated that for ABBV-932, the focus is on achieving less movement disorder while maintaining efficacy, and observing its performance in Bipolar 1 versus Bipolar 2. He confirmed that addiction could be a potential future indication, noting a broader psychiatry portfolio including a kappa opioid receptor antagonist, Bretisilocin, Emraclidine, and a more D3-leaning asset from Gedeon Richter.

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Question · Q4 2025

Mark Moffman asked about the upcoming Phase 2 readout for ABBV-932 in bipolar depression, how it might compare to Vraylar given its D3 vs. D2 targeting, and if there are plans to expand into areas like addiction.

Answer

Roopal Thakkar, Executive Vice President, Research and Development, and Chief Scientific Officer, stated that the Phase 2 data for ABBV-932 is expected later this year. He anticipates potentially less movement disorder with ABBV-932 due to less D2 targeting, while maintaining efficacy, and will analyze its performance in Bipolar 1 versus Bipolar 2. He confirmed that addiction could be a future indication and highlighted a broader psychiatry portfolio including a kappa opioid receptor antagonist, Bretisilocin, and Emraclidine, with a more D3-leaning asset in preclinical development with Gedeon Richter.

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