Foveal LLP Independent Investment Research Foveal Research

Ahead of CNTA’s   ORX750  phase 2 data and after the recent publication of Takeda’s orexin agonist oveporexton (TAK-861) two phase 3 trials, interest in competitor orexin agonists from CNTA and ALKS in both narcolepsy type I (NT1), as well as related narcolepsy type II (NT2) and hyper insomnia, have come back into focus. We undertake an in-depth analysis of the current orexin agonist efficacy and safety data to make a like-for-like comparison of oveporexton with Centessa’s ve

Ahead of Ultragenyx's [RARE] 4Q25   ORBIT  Osteogenesis Imperfecta setrusumab  phase III, our comprehensive report reveals phase II improvements in bone density and fracture reduction are unlikely attributable solely to the natural improvement in osteogenesis with age but are likely due to setrusumab...

The market continues to underestimate Imaavy's prospects from...

The market continues to underestimate Imaavy's prospects from...

Ahead of VERA’s upcoming ORGIN3 IgA nephropathy trial in 2Q25, our analysis suggests a positive Phase III outcome that is in line with its IgAN competitors. However, longer-term data from a non-BAFF/APRIL competitive class may be a hurdle...

Despite headline efficacy in PTGX/JNJ's ulcerative colitis phase 2 ANTHEM-UC at its highest dose, the initial efficacy appears similar to that of already FDA-approved orals and other oral classes in development. With limited safety and patient characteristic disclosure...

With JNJ2113's (icotrokinra) upcoming ulcerative colitis ANTHEM-UC trial reading out this first quarter, our unique UC specific analysis...

Ianalumab is well placed to be the first treatment to enter the notoriously challenging Sjögren’s syndrome, with its unique data endowing it with credibility for phase III in this indication, which has been fraught with failures in a field of three competitors with otherwise similar data.

The market continues to underestimate Fabhalta's prospects from current and potential indications. The recent positive APPULSE trial demonstrating Fabhalta's superiority by safely switching from injectable c5 to oral Fabhalta in Primary Nocturnal Haematuria (PNH) along with our unique, comprehensive analysis of Fabhalta's seven in-trial line extensions reveals multi-blockbuster opportunities with minimal competition in at least four other diseases with excellent FDA prospects

NOVN lipoprotein (a) cholesterol-lowering pelacarsen is likely to be the first cardiovascular breakthrough in decades by reducing an alternative cholesterol molecule to prevent heart attacks, with AMGN, LLY and SLN close behind...

Since our first ADC report over a year ago, our analysis has demonstrated significant doubts about all three leading TROP2 ADCs (AZN, GILD, MRK, SKB) achieving overall survival in first-line lung cancer, and we continue to see substantial hurdles for the class..