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    Thomas Yip

    Research Analyst at H.C. Wainwright & Co.

    Thomas Yip is an Equity Research Associate at H.C. Wainwright & Co., specializing in the biotechnology sector with a focus on emerging pharmaceutical companies. He has provided analysis and issued Buy ratings for firms such as Unicycive Therapeutics and Terns Pharmaceuticals, employing rigorous rNPV valuation methodologies with detailed risk assessments and track records of accurate company evaluations. Since joining H.C. Wainwright in 2018, following prior experience with The Trustees of Columbia University, Yip has established himself in the industry through high-quality research publications and active participation in investor conferences. He holds professional credentials requisite for research analysts, including securities licenses required for equity research roles in the United States.

    Thomas Yip's questions to TALPHERA (TLPH) leadership

    Thomas Yip's questions to TALPHERA (TLPH) leadership • Q4 2024

    Question

    Thomas Yip of H.C. Wainwright & Co. inquired about the original rationale for the NEPHRO trial's previous, more restrictive inclusion criteria and asked for details on the recently announced private placement, including milestone triggers and management participation.

    Answer

    Chief Medical Officer Dr. Shakil Aslam explained the previous trial restrictions, which he was not involved in creating, were likely tied to secondary clinical endpoints and legacy FDA positions on heparin that are not practical today. He detailed why most institutions now avoid heparin due to its systemic risks and difficult titration. An executive, likely Raffi Asadorian, confirmed the financing tranches have no time limit and trigger upon hitting patient enrollment and stock price targets. CEO Vince Angotti confirmed he was the management member who participated in the financing.

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    Thomas Yip's questions to TALPHERA (TLPH) leadership • Q3 2024

    Question

    Asked, on behalf of Ed Arce, about the screen-to-enrollment ratio, initial feedback from trial participants, the timeline for data release following the study's completion in 2025, and any additional measures planned to accelerate enrollment.

    Answer

    The company declined to provide a specific screen-to-enrollment percentage due to variability. They reported positive but limited feedback from the blinded study, noting that key excluded patient groups represent a future commercial opportunity. They confirmed their goal is to release data in 2025, shortly after study completion. Acceleration measures include previously discussed site-level optimizations and adding new high-volume sites, with other undisclosed study design changes also under evaluation.

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    Thomas Yip's questions to ARDELYX (ARDX) leadership

    Thomas Yip's questions to ARDELYX (ARDX) leadership • Q4 2024

    Question

    Thomas Yip of H.C. Wainwright asked about the financial statement impact of XPHOZAH's patient assistance program and the long-term strategies for IBSRELA to achieve its $1 billion peak sales target.

    Answer

    CFO Justin Renz clarified that patient assistance program costs are reflected in SG&A, not COGS, and are included in the guided expense increase. CCO Eric Foster detailed the long-term IBSRELA strategy, which includes a fully deployed sales force, expanded patient marketing, and enhanced pull-through via new field access managers.

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    Thomas Yip's questions to Iterum Therapeutics (ITRM) leadership

    Thomas Yip's questions to Iterum Therapeutics (ITRM) leadership • Q4 2024

    Question

    Thomas Yip of H.C. Wainwright & Co. asked for details on the ongoing strategic partnership discussions for ORLYNVAH, including the types of entities involved, and inquired about current pre-commercialization activities.

    Answer

    CEO Corey Fishman explained that while specific discussions are confidential, outreach has been made to dozens of pharmaceutical companies and financial investors. He added that pre-commercialization activities, such as research with payors and physicians and targeting analytics, are underway to build a foundation for a potential launch.

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    Thomas Yip's questions to Iterum Therapeutics (ITRM) leadership • Q3 2024

    Question

    Thomas Yip of H.C. Wainwright & Co. inquired about the patent and market exclusivity timeline for ORLYNVAH in the U.S. and Europe, whether the approved FDA label met the company's internal expectations, and the current status of strategic partnership discussions.

    Answer

    CEO Corey Fishman explained that ORLYNVAH has 10 years of U.S. market exclusivity until October 2034, with patent protection extending to 2039. He noted European patents are not yet granted. Fishman stated the company was 'very pleased' with the label, as it aligns with their strategy to target at-risk patients with limited options and has no unusual post-marketing requirements. He also confirmed that the process of seeking a strategic transaction has been renewed with their financial adviser following the FDA approval.

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    Thomas Yip's questions to Mirum Pharmaceuticals (MIRM) leadership

    Thomas Yip's questions to Mirum Pharmaceuticals (MIRM) leadership • Q3 2024

    Question

    Thomas Yip, asking for Ed Arce, requested more details on payer discussions for PFIC in the U.S. and EU, inquired about enrollment progress for the EXPAND study, and asked if the in-licensing of MRM-3379 signals that neurologic disorders are now a core target for Mirum.

    Answer

    President and COO Peter Radovich stated that they have reached substantially all PFIC prescribers in the U.S. and that early engagement is underway in Europe. CEO Christopher Peetz noted that EXPAND study sites are just opening, so it's too early for progress updates, but reiterated the study was driven by investigator demand. He also clarified that while Mirum sees opportunities in various therapeutic areas, their core expertise is in rare genetic diseases generally, not one specific area.

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    Thomas Yip's questions to ENANTA PHARMACEUTICALS (ENTA) leadership

    Thomas Yip's questions to ENANTA PHARMACEUTICALS (ENTA) leadership • Q2 2024

    Question

    The analyst asked about the geographic breakdown of enrollment for the RSVPEDs and RSVHR studies, the overlap between RSV and flu seasons, and the expected timeline for completing enrollment in the RSVHR study.

    Answer

    The company confirmed they have enrolled patients in both hemispheres for both studies, though the Northern Hemisphere has a larger footprint of clinical trial sites. For the RSVPEDs study, they are in the final cohort of the youngest patients and are recruiting in the Southern Hemisphere. For the RSVHR study, they expect they will likely need to return to the Northern Hemisphere to complete enrollment. They noted that RSV and flu seasons are generally correlated but can deviate, and they will provide a better forecast later in the summer.

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    Thomas Yip's questions to Arbutus Biopharma (ABUS) leadership

    Thomas Yip's questions to Arbutus Biopharma (ABUS) leadership • Q4 2023

    Question

    Asked for details on the new Phase IIa study (203) with durvalumab, whether the future imdusiran/AB-101 combination study would also be a Phase IIa, and for more specific timing on the upcoming data readouts in the first half of the year.

    Answer

    The company stated that details for the 203 study will be shared upon first patient dosing. The initial imdusiran/AB-101 study will likely be a smaller Phase IIa to de-risk the assets. Regarding timing for H1 readouts, the company indicated the EASL conference timeframe is a reasonable expectation but could not commit to a specific venue.

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    Thomas Yip's questions to Galmed Pharmaceuticals (GLMD) leadership

    Thomas Yip's questions to Galmed Pharmaceuticals (GLMD) leadership • Q3 2021

    Question

    Thomas Yip of H.C. Wainwright asked about the timing of the two-point fibrosis reduction seen in some patients, the timeline for the next ARCON data set, the composition of the study cohorts, the reason for the high percentage of female participants, and the expected timelines for the ARMOR study's double-blind portion and the new Aramchol meglumine formulation.

    Answer

    Professor Vlad Ratziu confirmed the 20-patient AASLD cohort is part of the larger 139-patient ARCON cohort and explained the high female participation is a common, though not by design, feature of NASH trials. He anticipated the next data update on approximately 50 patients around the EASL 2022 meeting. President and CEO Allen Baharaff added that the double-blind portion of the ARMOR study is expected to restart in the second half of 2022, following a bioequivalence study for the new formulation planned for early 2022.

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    Thomas Yip's questions to GALECTIN THERAPEUTICS (GALT) leadership

    Thomas Yip's questions to GALECTIN THERAPEUTICS (GALT) leadership • Q4 2016

    Question

    Thomas Yip from FBR asked about the company's pipeline of other galectin inhibitor candidates, potential monetization strategies for them, the requirements to advance the oncology program into Phase II, and the characteristics of an ideal partnership for the atopic dermatitis indication.

    Answer

    President and CEO Peter Traber explained that the discovery program is focused on developing new galectin inhibitors with potential for oral administration and higher potency, but there is no set timing for announcements. He clarified that Galectin has exclusive rights to GR-MD-02 for the oncology program, and a Phase II trial decision depends on response rates from the current study. For atopic dermatitis, Dr. Traber stated an ideal partner would likely be an international or skin-specific company, ensuring any deal would not impede a future, larger partnership for NASH.

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    Thomas Yip's questions to OXGN leadership

    Thomas Yip's questions to OXGN leadership • Q2 2015

    Question

    Thomas Yip of MLV Company asked for clarification on the timeline for finalizing the Phase 3 ovarian trial design, details on the patient allocation and objectives for the pazopanib combination trial, and the expected R&D expense trajectory over the next 12 months.

    Answer

    President & CEO Bill Schwieterman explained that the final Phase 3 ovarian trial design details will be released after the FDA responds to the Special Protocol Assessment. He outlined the pazopanib trial structure (~15 patients in dose escalation, 120 in a randomized phase) and noted that R&D expenses are expected to ramp up modestly in late 2015, with a more significant increase tied to new clinical programs starting after the year's end.

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    Thomas Yip's questions to Oncotelic Therapeutics (OTLC) leadership

    Thomas Yip's questions to Oncotelic Therapeutics (OTLC) leadership • Q1 2015

    Question

    Thomas Yip of MLV inquired about the development plan for OXi4503 in AML/MDS following the initial dose-escalation phase, including the target population and patient numbers. He also sought confirmation on whether the forthcoming GOG186I ovarian cancer publication would include Progression-Free Survival (PFS) data.

    Answer

    President & CEO David Chaplin explained that the OXi4503 plan includes completing the Phase 1 single-agent study, potentially moving to a Phase 1b combination trial, and then a Phase 2 study targeting refractory AML and high-risk MDS. He noted each Phase 1/1b part could enroll up to 20 patients. Chaplin also confirmed the GOG186I publication is expected to include PFS data but could not guarantee updated overall survival data, as the study is independently run by the GOG.

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    Thomas Yip's questions to Oncotelic Therapeutics (OTLC) leadership • Q4 2014

    Question

    In a follow-up question, Thomas Yip of MLV & Co. asked about the next steps for the GI-NETs program, assuming the top-line data expected by year-end is positive.

    Answer

    CEO Dave Chaplin stated that if interim data is positive, the next step would be to begin planning a Phase 3 program for GI-NETs. He mentioned they have an idea of what the trial design might look like based on other industry studies and that it could potentially involve two small Phase 3 trials, which would require additional funding.

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