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    Steven Seedhouse

    Research Analyst at Raymond James

    Steven Seedhouse, PhD, was most recently the Head of Biotech Research and Managing Director at Raymond James, specializing in biotechnology research with coverage of healthcare and industrial companies such as Mirum Pharmaceuticals, Arcturus Therapeutics, and Intellia Therapeutics. Over his tenure at Raymond James, he issued 514 price targets and ratings on 35 stocks, with 94% buy recommendations, a 40% price target met ratio, and recommendations that delivered an average potential upside of 66% typically achieved within 336 days. Beginning his equity research career in 2015 and joining Raymond James in March 2018, Dr. Seedhouse also previously held analyst positions at Citi, Stifel, and BMO Capital Markets, before moving to Cantor Fitzgerald in March 2025. He holds a PhD in Molecular Pharmacology and an MS in Medicinal Chemistry, and is registered with relevant securities licenses and FINRA credentials.

    Steven Seedhouse's questions to Apellis Pharmaceuticals (APLS) leadership

    Steven Seedhouse's questions to Apellis Pharmaceuticals (APLS) leadership • Q1 2025

    Question

    Steven Seedhouse asked if Apellis is in dialogue with other industry members to resolve the co-pay assistance funding shortage and whether the company is willing to contribute to a new or existing charity fund.

    Answer

    Executive Cedric Francois stated that Apellis is not in such dialogues. He affirmed that the company respects the full independence of co-pay assistance organizations and keeps its contributions entirely separate from its commercial operations, though it does contribute to them periodically.

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    Steven Seedhouse's questions to BIOCRYST PHARMACEUTICALS (BCRX) leadership

    Steven Seedhouse's questions to BIOCRYST PHARMACEUTICALS (BCRX) leadership • Q1 2025

    Question

    Steven Seedhouse inquired about the potential market for the pediatric version of ORLADEYO, asking about the number of patients currently on competitor TAKHZYRO and the expected mix of patient switches versus new starts. He also asked what would constitute a successful initial data readout for the avoralstat program in Diabetic Macular Edema (DME).

    Answer

    Chief Commercial Officer Charlie Gayer estimated about 500 pediatric HAE patients in the U.S., with at least 200 suitable for prophylaxis, a number he believes will grow with an oral option. CEO Jon Stonehouse highlighted the significant advantage of a granule formulation over injections for children. For the DME program, Chief R&D Officer Dr. Helen Thackray stated that success would be defined by observing a clear effect on reducing retinal thickness, with CEO Jon Stonehouse adding that the drug's long-lasting concentration could yield significant data even from a single dose.

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    Steven Seedhouse's questions to Wave Life Sciences (WVE) leadership

    Steven Seedhouse's questions to Wave Life Sciences (WVE) leadership • Q3 2024

    Question

    Steven Seedhouse of Raymond James asked about key efficacy assessments for the WVE-006 AATD program's multi-dose cohorts, the potential to assess protein levels during infections, the estimated cost of the WVE-003 Huntington's disease Phase II/III program, and potential partnership structures.

    Answer

    Chief Development Officer Anne-Marie Li-Kwai-Cheung clarified that the RestorAATion-2 study for WVE-006 is focused on safety, PK, and PD, not efficacy, with exploratory endpoints like FibroScan being captured. CEO Paul Bolno added that while not prospectively planned, they could correlate protein levels with any patient infections that occur. Regarding the WVE-003 Huntington's program, Dr. Bolno stated that owning the asset and having a clearer regulatory path based on caudate atrophy opens up more flexible partnership structures, including geographic or financial collaborations, compared to previous deals designed for larger, longer trials.

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    Steven Seedhouse's questions to Viking Therapeutics (VKTX) leadership

    Steven Seedhouse's questions to Viking Therapeutics (VKTX) leadership • Q3 2024

    Question

    Steven Seedhouse questioned the potential inclusion of an active control arm in the VK2735 Phase III study, the strategy for testing the new amylin agonist in combination with other therapies, its potential for oral co-formulation, and the specific data supporting continued weight loss with longer oral dosing.

    Answer

    Executive Brian Lian clarified that initial Phase III studies will be placebo-controlled, with active comparator trials as a future possibility. He emphasized the amylin agonist's value is in combination therapies, which would be explored rapidly. He also confirmed the observation of a non-plateauing negative weight loss slope in the 28-day study supports expectations for further benefit with longer dosing.

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    Steven Seedhouse's questions to Editas Medicine (EDIT) leadership

    Steven Seedhouse's questions to Editas Medicine (EDIT) leadership • Q3 2023

    Question

    Asked if longitudinal lymphocyte and neutrophil count data would be shared at ASH, particularly since competitor data showed these counts did not recover to baseline, and also inquired about the company's commercialization plans for EDIT-301.

    Answer

    The company confirmed that neutrophil engraftment data is part of their safety monitoring. They plan to build their own commercial capabilities but are interested in an ex-U.S. partner. Regarding post-transplant cell counts, they stated they have been 'very happy with our accounts to date.'

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    Steven Seedhouse's questions to Galmed Pharmaceuticals (GLMD) leadership

    Steven Seedhouse's questions to Galmed Pharmaceuticals (GLMD) leadership • Q4 2021

    Question

    Steven Seedhouse inquired about the histology data from the ARMOR study, specifically asking if the cohort biopsied after 48 weeks combined both 48-week and 72-week patients, and requested a breakdown of the relative fibrosis improvement rates between these two time points.

    Answer

    President and CEO Allen Baharaff confirmed that the cohort combined patients from both 48 and 72 weeks, with approximately five patients from the 72-week group. He explained that the company chose not to break out the data because the small number of 72-week patients was insufficient to draw any meaningful conclusions, though the general trend was consistent with previous observations.

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