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    Matt Phipps

    Partner and Group Head of Biotechnology Equity Research at William Blair

    Matt Phipps, Ph.D., is a Partner and Group Head of Biotechnology Equity Research at William Blair, specializing in biotechnology sector analysis with in-depth coverage of companies such as Incyte, Genmab, Amgen, and Bristol Myers. Recognized for his outstanding performance, Phipps was ranked the No. 1 earnings estimator in biotechnology and No. 3 across all industries by Refinitiv’s 2019 StarMine Analyst Awards. He began his career as a postdoctoral research fellow at Texas Scottish Rite Hospital for Children before joining William Blair in November 2014. Phipps holds a Ph.D. in cellular and molecular physiology from the University of Alabama at Birmingham and a B.S. in physics in medicine from the University of Notre Dame.

    Matt Phipps's questions to MiNK Therapeutics (INKT) leadership

    Matt Phipps's questions to MiNK Therapeutics (INKT) leadership • Q2 2025

    Question

    Eric, on behalf of Matt Phipps from William Blair, asked for updated thoughts on the development plan for graft-versus-host disease, specifically seeking clarity on the focus between a prophylactic setting versus treating acute steroid-refractory patients.

    Answer

    Dr. Jennifer Buell, President and CEO, clarified that the currently funded and advancing program is focused on the prophylactic setting. She detailed that patients will be dosed post-engraftment to assess engraftment success, infection reduction, and GVHD mitigation, confirming the trial is designed for prevention rather than treating active GVHD.

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    Matt Phipps's questions to Autolus Therapeutics (AUTL) leadership

    Matt Phipps's questions to Autolus Therapeutics (AUTL) leadership • Q2 2025

    Question

    Matt Phipps of William Blair asked about the revenue recognition process if a patient receives only the first of two Ocatsol infusions. He also inquired about the potential timeline for Autolus to achieve gross profit positivity.

    Answer

    CEO Christian Itin stated that if only the first infusion is administered, which is exceedingly rare, only that portion of the revenue is recognized. CFO Rob Dolski added that achieving positive gross margin is a "volume story" and expects continued improvement in the second half of the year as volumes increase, though he provided no specific timeline for flipping to profitability.

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    Matt Phipps's questions to DYNAVAX TECHNOLOGIES (DVAX) leadership

    Matt Phipps's questions to DYNAVAX TECHNOLOGIES (DVAX) leadership • Q2 2025

    Question

    Matt Phipps of William Blair & Company inquired about the upcoming data for Dynavax's shingles vaccine program, focusing on the key success metrics like CD4 T-cell response compared to Shingrix, the time points for these measurements, and the expected detail on the side effect profile.

    Answer

    Chief Medical Officer Robert Janssen explained that the initial one-month data will focus on the vaccine response rate (VRR), a composite of CD4 and antibody response, due to potential variability in small subject groups. He added that CD4 levels would be tracked over time. CEO Ryan Spencer reiterated that while the trial is not powered for statistical comparisons of reactogenicity, they expect the tolerability data to be supportive of a favorable profile.

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    Matt Phipps's questions to GENMAB (GMAB) leadership

    Matt Phipps's questions to GENMAB (GMAB) leadership • Q2 2025

    Question

    Matt Phipps of William Blair inquired about Genmab's strategy for combining Epkinley with ADCs in lymphoma and asked if the Akasunlimab melanoma trial would use the same every-six-week dosing regimen.

    Answer

    Chief Medical Officer Tahamtan Ahmadi confirmed that ADC combinations are an interesting part of the development strategy, with an investigator-sponsored trial planned. CEO Jan van de Winkel and Chief Development Officer Judith Klimovsky affirmed that Akasunlimab will use the every-six-week dosing, as it has shown optimal efficacy and safety.

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    Matt Phipps's questions to GENMAB (GMAB) leadership • Q2 2025

    Question

    Matt Phipps of William Blair asked about the development plan for epcoritamab, specifically regarding combinations with ADCs in lymphoma, and whether the acasunlimab trial in melanoma would use the same every-six-week dosing regimen.

    Answer

    Tahamtan Ahmadi, EVP & CMO, said ADC combinations are part of a strategy to generate complementary data, noting a planned investigator-sponsored trial with Polivy and the ambition for Epkinley to be a backbone therapy. CEO Jan van de Winkel confirmed that acasunlimab will use the every-six-week dosing, which is considered optimal, a point echoed by Judith Klimovsky, EVP & CDO.

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    Matt Phipps's questions to AMGEN (AMGN) leadership

    Matt Phipps's questions to AMGEN (AMGN) leadership • Q2 2025

    Question

    Matt Phipps asked about the newly disclosed AMG 732 program for thyroid eye disease (TED), inquiring how it differentiates from TEPEZZA and what unmet need it aims to address.

    Answer

    James Bradner, EVP of R&D, described AMG 732 as a next-generation, subcutaneously administered antibody targeting IGF-1R. Robert Bradway, Chairman & CEO, framed it as an example of Amgen's strategy to bring further innovation to the acquired Horizon portfolio.

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    Matt Phipps's questions to INCYTE (INCY) leadership

    Matt Phipps's questions to INCYTE (INCY) leadership • Q1 2025

    Question

    Matt Phipps inquired about povorcitinib in CSU, asking how its efficacy compares to MRGPRX2 inhibition and whether the positive data alters plans for developing backup X2 antagonist programs.

    Answer

    An Incyte executive stated that comparative efficacy data will be discussed when the povorcitinib CSU results are presented later in the year. They also confirmed that Incyte has no plans to restart the X2 antagonist program and will advance povorcitinib into pivotal studies for CSU based on the strong proof-of-concept data.

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    Matt Phipps's questions to Kezar Life Sciences (KZR) leadership

    Matt Phipps's questions to Kezar Life Sciences (KZR) leadership • Q2 2020

    Question

    Matt Phipps of William Blair sought clarification on the amended MISSION Phase 2 trial design, including the shift to a single-arm, open-label study using only the 60mg dose. He also asked about specific inclusion criteria, the definition of renal response, and plans to expand the trial's geographic footprint.

    Answer

    Chief Medical Officer Noreen Henig confirmed the MISSION Phase 2 trial is now a 20-patient, single-arm, open-label study evaluating a 60mg dose, as this dose showed a good therapeutic potential. The primary endpoint is a 50% or greater reduction in UPCR at six months for patients with a UPCR above one. Dr. Henig also affirmed that Kezar is exploring expanding its geographic footprint for trials to mitigate enrollment delays.

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