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Steven Skiena

Research Analyst at The Toronto-Dominion Bank

Steven Skiena is not currently listed as an analyst or in any senior capacity at The Toronto-Dominion Bank. He is a well-known academic, serving as a Professor at Stony Brook University with a specialization in algorithms, data science, and computational finance. Skiena has contributed to the development of advanced financial analytics systems, notably publishing research on event-driven trading strategies and portfolio management performance, but there is no public profile or career timeline indicating direct employment at The Toronto-Dominion Bank or analyst coverage of specific companies. His professional credentials focus on academic achievement and recognized expertise in algorithmic finance rather than securities licenses or FINRA registration.

Steven Skiena's questions to NOVARTIS (NVS) leadership

Question · Q3 2025

Steven Skiena asked what new evidence compelled Novartis to acquire Tourmaline and pursue the anti-IL-6 pathway, given the proof of concept established by the Cantos trial eight years ago.

Answer

CEO Vasant Narasimhan explained that Novartis understands the powerful effect of IL-1 beta and inflammasome inhibition on cardiovascular risk reduction from the Cantos study. He noted that IL-6, being further downstream, offers an opportunity to significantly impact cardiovascular risk by targeting patients with elevated HSCRP within six months to a year after an event. He believes this focused approach, leveraging learnings from Cantos, can lead to a more compelling cardiovascular risk reduction than previously observed.

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Question · Q3 2025

Steven Skiena asked what new evidence compelled Novartis to acquire Tourmaline and pursue the anti-IL-6 pathway, given the proof of concept established by the Cantos trial eight years ago.

Answer

Vasant Narasimhan, CEO of Novartis, explained that learnings from the Cantos study, particularly understanding IL-1 beta's effect on cardiovascular risk, informed the strategy. He noted that IL-6 targets further downstream, and by prospectively targeting patients with elevated HSCRP within months of an event, Novartis aims for a more compelling cardiovascular risk reduction than the 14-15% seen in Cantos, leveraging expertise to maximize the anti-IL-6 asset's opportunity.

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