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    Ry Forseth

    Vice President and Equity Research Analyst at Guggenheim Securities

    Ry Forseth is a Vice President and Equity Research Analyst at Guggenheim Securities, specializing in biotechnology sector coverage. He has analyzed and asked earnings questions for companies such as Soleno Therapeutics, Voyager Therapeutics, and potentially additional biotech firms, contributing to rigorous research and insights that inform institutional investment decisions. Forseth began his career in the biotech industry as an Investigator at Novartis AG from 2012 to 2019, then transitioned to Associate Director at SK Life Science before joining Guggenheim Securities in 2021. He holds a doctorate from Cornell University, an undergraduate degree from the University of Wisconsin, and maintains professional credentials consistent with the requirements for securities research at a major investment bank.

    Ry Forseth's questions to SOLENO THERAPEUTICS (SLNO) leadership

    Ry Forseth's questions to SOLENO THERAPEUTICS (SLNO) leadership • Q2 2025

    Question

    Ry Forseth from Guggenheim Securities asked about any emerging challenges or 'pain points' in the patient start form process and inquired about early patient compliance and adherence trends.

    Answer

    CEO Anish Bhatnagar stated that with a strong start of 646 forms, it is difficult to predict pain points but the company is monitoring for factors like seasonality. Regarding compliance, he noted that while it is too early for definitive data, observed discontinuation rates are substantially lower than those seen in clinical trials, which themselves had very high compliance.

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    Ry Forseth's questions to Voyager Therapeutics (VYGR) leadership

    Ry Forseth's questions to Voyager Therapeutics (VYGR) leadership • Q4 2024

    Question

    Ry Forseth, on for Debjit Chattopadhyay, asked how potential outcomes from third-party tau program readouts would be actionable for Voyager's own programs and whether the upcoming AD/PD data would include details on vector distribution between the brain and liver.

    Answer

    CEO Dr. Al Sandrock stated they are watching external data to establish a clear link between the magnitude of tau PET reduction and clinical benefit, which would set a development hurdle. CSO Dr. Todd Carter confirmed the AD/PD presentation will include data on vector delivery and knockdown in the brain and peripheral tissues, though it may not be presented in a percentage format.

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    Ry Forseth's questions to Voyager Therapeutics (VYGR) leadership • Q2 2024

    Question

    Ry Forseth of Guggenheim Securities questioned the potential of the TRACER platform to develop capsids with multi-organ specificity for diseases like DM1, which affect both central and neuromuscular systems.

    Answer

    CEO Dr. Al Sandrock explained that TRACER can identify capsids that gain brain-penetrating properties while retaining inherent tropism for other tissues, like the heart, which is relevant for Friedreich's Ataxia. CSO Dr. Todd Carter elaborated that Voyager builds target capsid profiles for each disease, evaluating delivery to various tissues (muscle, heart, brain regions) and creating distinct capsid families for different therapeutic applications.

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    Ry Forseth's questions to Voyager Therapeutics (VYGR) leadership • Q1 2024

    Question

    Ry Forseth of Guggenheim Securities asked how Voyager is framing the market opportunity expansion for its maturing Gen 3 technology, particularly its ability to navigate preexisting neutralizing antibodies.

    Answer

    Executive Alfred Sandrock explained that finding novel capsids that evade preexisting antibodies would make more patients eligible for treatment. He also noted that Voyager and others are exploring ways to lower antibody levels, such as using enzymes, to achieve the same goal. Chief Medical Officer Dr. Toby Ferguson added this could be particularly important for adult populations compared to some pediatric indications.

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    Ry Forseth's questions to Krystal Biotech (KRYS) leadership

    Ry Forseth's questions to Krystal Biotech (KRYS) leadership • Q4 2024

    Question

    Ry Forseth asked about the KB407 cystic fibrosis program, specifically seeking clarity on the FEV1 improvement threshold required to advance the program and whether this bar would be consistent across different patient genotypes.

    Answer

    CEO Krish Krishnan and President of R&D Suma Krishnan responded that the focus is on the null population, where any improvement (3-10%) would be significant. They emphasized that the redosable nature of the therapy allows for building FEV1 levels over time. They also noted a favorable regulatory environment could allow for a biomarker-based, open-label study pathway, especially for patients unresponsive to correctors.

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    Ry Forseth's questions to Sarepta Therapeutics (SRPT) leadership

    Ry Forseth's questions to Sarepta Therapeutics (SRPT) leadership • Q4 2024

    Question

    Ry Forseth from Guggenheim Securities asked how Sarepta is modeling the impact of future competitive gene therapies in DMD and about expectations for the LGMD 2E program, specifically regarding vector genomes and protein expression levels.

    Answer

    CEO Douglas Ingram stated it is far too early to model competition from therapies in early experimental stages, noting nothing is expected this decade. For the 2E program, he expressed confidence that achieving expression levels consistent with past 9003 and 9001 cohorts, along with a good safety profile, would be sufficient for approval. Chief Customer Officer Dallan Murray added that the incident DMD population is an underappreciated market opportunity.

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    Ry Forseth's questions to Intellia Therapeutics (NTLA) leadership

    Ry Forseth's questions to Intellia Therapeutics (NTLA) leadership • Q3 2024

    Question

    Ry Forseth inquired about the key factors driving the ahead-of-schedule enrollment in the MAGNITUDE ATTR-CM study and whether these factors would also apply to the MAGNITUDE-2 polyneuropathy study.

    Answer

    CEO John Leonard attributed the rapid enrollment to investigator excitement over the deep, consistent, and durable TTR reduction and the drug's safety profile. He anticipates this enthusiasm will carry over to the MAGNITUDE-2 study, especially since such therapies are unavailable in many of the ex-U.S. trial locations.

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