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    Soumit Roy

    Research Analyst at JonesTrading

    Soumit Roy, PhD, is Managing Director and Senior Healthcare Analyst at JonesTrading, specializing in biotechnology equities with a primary focus on oncology, T cell therapy, targeted medicines, and next-generation immuno-oncology. He actively covers disruptive biotech companies including Beam Therapeutics, Korro Bio, Wave Life Sciences, Intellia Therapeutics, Prime Medicine, Janux Therapeutics, Alto Neuroscience, Rapport Therapeutics, and YmAbs Therapeutics, and is recognized for translating deep scientific expertise into actionable investment insights. With a career beginning as a Senior Research Associate at SunTrust Robinson Humphrey covering small- and mid-cap biotech, Roy joined JonesTrading after holding academic positions as a post-doctoral fellow at the Icahn School of Medicine at Mount Sinai, following his PhD from Albert Einstein College of Medicine and master’s degrees in developmental biology and biochemistry. He is widely published in leading scientific journals and is a formally credentialed research analyst in the healthcare sector.

    Soumit Roy's questions to ANAVEX LIFE SCIENCES (AVXL) leadership

    Soumit Roy's questions to ANAVEX LIFE SCIENCES (AVXL) leadership • Q3 2025

    Question

    Soumit Roy from Jones Trading inquired about the four-year open-label extension data for blarcamesine, specifically asking for clarification on the delayed-start patient group, the differing trajectories of the ADAS-cog and ADL endpoints, and whether patients were restaged. He also asked about the drug's applicability to moderate-stage Alzheimer's, the timeline for the EMA review, the commercialization strategy, and the status of a UK regulatory filing.

    Answer

    President & CEO Dr. Christopher Missling explained that the data shows patients starting blarcamesine later do not catch up to the benefit seen in the early-start group, emphasizing the importance of early and continuous treatment. He attributed the endpoint differences to ADAS-cog's higher sensitivity and trial interruptions from COVID. Dr. Missling confirmed patients were not restaged but noted the drug has shown benefit in mild-to-moderate patients. He guided for EMA feedback in Q1 of the following year but would not comment on the process. On commercialization, he stated that while all options are open, partnering post-approval often maximizes shareholder value, and a UK filing is being planned.

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    Soumit Roy's questions to ANAVEX LIFE SCIENCES (AVXL) leadership • Q3 2025

    Question

    Soumit Roy from Jones Trading asked for clarification on the four-year open-label extension data for blarcamesine, specifically regarding the delayed-start patient group, the difference in curves between ADAS-Cog 13 and ADCS-ADL endpoints, and whether patients were restaged. He also inquired about the timeline for the EMA review and the company's commercialization strategy.

    Answer

    President & CEO Dr. Christopher Missling explained that delayed-start patients were from the placebo arm and that they did not catch up to the early-start group, emphasizing the need for early and continuous treatment. He attributed the difference in endpoint curves to the higher sensitivity of ADAS-Cog 13 and noted patients were not restaged. Dr. Missling projected feedback from the EMA in the first quarter of the next year and stated that the company's commercialization decision would be timed to maximize shareholder value, potentially after approval.

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    Soumit Roy's questions to ANAVEX LIFE SCIENCES (AVXL) leadership • Q2 2025

    Question

    Soumit Roy of JonesTrading inquired about the expected timeline for a decision from the European Medicines Agency (EMA) on blarcamesine and asked about the key inflection points for 2025, focusing on the Phase II schizophrenia trial for ANAVEX 3-71.

    Answer

    President and CEO Dr. Christopher Missling stated that Anavex Life Sciences anticipates feedback from the EMA by the end of the current year or early in the next quarter, approximately 12 months after the submission was accepted. He clarified that the company will only report the final decision. Dr. Missling also identified the top-line data from the ANAVEX 3-71 schizophrenia study, expected in the second half of the year, as a key inflection point, emphasizing the trial's focus on safety and biomarker effects (EEG/ERP) in a hard-to-treat patient population.

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    Soumit Roy's questions to Nuvation Bio (NUVB) leadership

    Soumit Roy's questions to Nuvation Bio (NUVB) leadership • Q2 2025

    Question

    Soumit Roy asked about the direct impact of Iptrozy's preferred NCCN agent status on community physician prescribing habits and the anticipated timeline for the adoption of RNA-based testing for ROS1 fusions. He also inquired about the rationale for modifying the sacrocitinib study to a maintenance setting.

    Answer

    CEO Dr. David Hung confirmed that the rapid NCCN inclusion is viewed as a significant endorsement by both KOLs and community aggregators, reinforcing the drug's differentiated profile. He noted that while a switch to more sensitive RNA testing is expected, the timeline is unpredictable. Regarding sacrocitinib, Dr. Hung clarified that the decision to evaluate it in a maintenance setting was the company's strategic choice, not an FDA recommendation.

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    Soumit Roy's questions to Nuvation Bio (NUVB) leadership • Q2 2025

    Question

    Soumit Roy asked about the direct impact of Iptrozy's preferred NCCN status on community physicians and the current sentiment around adopting RNA-based testing. He also inquired about the rationale for switching the sacrocitinib study to a maintenance setting and whether its enrollment criteria would expand to all IDH1 mutation subtypes.

    Answer

    David Hung, Founder, President & CEO, confirmed that the rapid NCCN inclusion is viewed as a significant positive by physicians and that there is growing discussion about a switch to more sensitive RNA testing, though the timing is uncertain. He clarified that the decision to evaluate sacrocitinib in a maintenance setting was the company's own strategic choice and that the drug targets all IDH1 mutations.

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    Soumit Roy's questions to CURIS (CRIS) leadership

    Soumit Roy's questions to CURIS (CRIS) leadership • Q2 2025

    Question

    Soumit Roy from JonesTrading asked for Curis's perspective on recent tirabrutinib data in PCNSL and whether patients from the AML triplet safety cohorts would be used for the efficacy readout.

    Answer

    CEO James Dentzer stated that Curis's goal is to show emivosertib can be added to any BTK inhibitor, including a potentially approved tirabrutinib, to improve efficacy. He declined to comment on the specific design of the AML efficacy study, preferring to wait until the data is made public at a future conference like ASH.

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    Soumit Roy's questions to Day One Biopharmaceuticals (DAWN) leadership

    Soumit Roy's questions to Day One Biopharmaceuticals (DAWN) leadership • Q1 2025

    Question

    Soumit Roy from Jones Research requested details on the DAY301 development pipeline, including tumor types being studied, dose levels completed, expected data timing, and the criteria for go-forward decisions.

    Answer

    CEO Dr. Jeremy Bender explained that DAY301, a PTK7-targeted ADC, is in Phase I dose escalation for adult solid tumors like endometrial, non-small cell lung, and triple-negative breast cancer. The first dose cohort has been cleared, but data timing is not yet guided. The plan is to establish a safe and tolerable dose with evidence of antitumor activity before moving to dose expansion cohorts, which will likely use a diagnostic to select for PTK7 expression.

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    Soumit Roy's questions to Day One Biopharmaceuticals (DAWN) leadership • Q3 2024

    Question

    Soumit Roy of Jones Research asked about OJEMDA's adoption in the community physician setting and inquired about patient eligibility for the front-line FIREFLY-2 trial, specifically regarding prior MEK inhibitor use.

    Answer

    CCO Lauren Merendino confirmed strong uptake in both academic and community settings, with no notable resistance. Dr. Samuel Blackman, Head of R&D, clarified that the FIREFLY-2 trial enrolls patients for their first systemic therapy, precluding any prior MEK inhibitor treatment.

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    Soumit Roy's questions to CMRX leadership

    Soumit Roy's questions to CMRX leadership • Q2 2024

    Question

    Inquired about the enrollment status, potential for pre-release of blinded baseline data, and screen failure rates for the Phase III ACTION trial.

    Answer

    Management confirmed that enrollment for the ACTION trial is on track for the Q3 2025 interim analysis, with balanced global participation. They will not release baseline characteristics ahead of the final data, and the screen failure rate is consistent and as expected.

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    Soumit Roy's questions to CMRX leadership • Q1 2024

    Question

    Asked about the potential patient population overlap with the newly approved tovorafenib (BRAF inhibitor), the global incidence of the H3 K27M mutation, and any differences in standard of care in ex-U.S. territories.

    Answer

    The company stated there is no significant overlap between H3 K27M and BRAF-mutated patient populations, as the mutations rarely co-occur. The incidence of H3 K27M is believed to be consistent globally. The standard of care remains radiation therapy worldwide, with only minor variations in prior temozolomide use observed ex-U.S.

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    Soumit Roy's questions to CMRX leadership • Q4 2023

    Question

    The analyst asked about the observed H3 K27M mutation rate during screening, differences in pre-enrollment treatment regimens between the U.S. and ex-U.S., plans for releasing baseline patient data, and whether the company is considering ex-U.S. partnerships for ONC201.

    Answer

    The company confirmed that the mutation rate seen in screening aligns with expectations. They noted a higher use of Temozolomide outside the U.S. but said it hasn't been a concern. Detailed baseline patient characteristics will likely be released with the top-line data, as the study is blinded. Regarding partnerships, the company plans to commercialize in the U.S. themselves but is open to evaluating partners for other regions like Europe after pivotal data is available.

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    Soumit Roy's questions to CASSAVA SCIENCES (SAVA) leadership

    Soumit Roy's questions to CASSAVA SCIENCES (SAVA) leadership • Q2 2024

    Question

    Soumit Roy of JonesTrading inquired about the primary drivers for the approximate 20-22% patient dropout rate in the Phase III trials, the suitability of the ADAS-Cog 12 endpoint for mild-to-moderate Alzheimer's patients, and the potential regulatory path forward if only one of the two co-primary endpoints is met.

    Answer

    Dr. James Kupiec, Chief Medical Officer, clarified that the dropout rate is consistent with similar large-scale trials and is primarily due to 'withdrawal of consent' by patients or their study partners, not adverse events. He affirmed that ADAS-Cog 12 is an adequate and FDA-agreed-upon endpoint for the target population. Dr. Kupiec also stated that Cassava has not had discussions with the FDA regarding the scenario of meeting only one co-primary endpoint.

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    Soumit Roy's questions to ONCOLYTICS BIOTECH (ONCY) leadership

    Soumit Roy's questions to ONCOLYTICS BIOTECH (ONCY) leadership • Q2 2024

    Question

    Soumit Roy of Jones Research questioned if a p-value was disclosed for the BRACELET-1 trial and asked about the key differences between the BRACELET-1 patient population and the planned Phase II/III registration trial, particularly regarding prior ADC treatment.

    Answer

    Dr. Tom Heineman, Chief Medical Officer, confirmed that the p-value for the progression-free survival (PFS) comparison between the paclitaxel arm and the paclitaxel plus pelareorep arm was 0.03. He clarified that the primary difference in the new trial's population would be the inclusion of patients who have failed ADC therapy, a group not present in the original BRACELET-1 study. He also noted that sub-analysis of significant population groups would likely be conducted.

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    Soumit Roy's questions to Rain Enhancement Technologies Holdco (RAIN) leadership

    Soumit Roy's questions to Rain Enhancement Technologies Holdco (RAIN) leadership • Q1 2023

    Question

    Soumit Roy from Jones Trading asked about plans for a scientific publication concurrent with the MANTRA data release and the expected level of detail in the top-line announcement, such as data on sarcoma subtypes or copy numbers.

    Answer

    CEO Avanish Vellanki confirmed that a publication would be pursued for compelling data but could not provide a timeline. He added that while the level of disclosure is undecided, favorable results would likely be presented at a future medical conference, influencing the scope of the initial top-line release.

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    Soumit Roy's questions to Rain Enhancement Technologies Holdco (RAIN) leadership • Q4 2022

    Question

    Soumit Roy of Jones Research inquired about the comprehensiveness of the genomic mutation analysis in the MANTRA-2 basket study and whether parallel preclinical analyses are being conducted for co-mutations.

    Answer

    Chief Scientific Officer Robert Doebele confirmed that the genomic analysis is extensive, utilizing the Tempus XT test which covers over 600 genes. He added that Rain has already published data on preclinical models with co-alterations, which suggests potential for milademetan activity even in the presence of such mutations.

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    Soumit Roy's questions to Rain Enhancement Technologies Holdco (RAIN) leadership • Q3 2022

    Question

    Soumit Roy of Jones Research asked about the response kinetics in the MANTRA-2 basket trial, questioning how rapid the tumor reduction is and if responses deepen over time. He also inquired if the company plans to release spider plots in future updates to visualize this data.

    Answer

    Chief Scientific Officer Robert Doebele explained that it is still too early to fully understand the response kinetics for a protein-protein interaction inhibitor like milademetan. CEO Avanish Vellanki added that while the company has not committed to releasing spider plots, a preliminary view could be inferred from the already-released swim lane plot and associated commentary on early responders.

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