Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.
cardiometabolic disease with baseline inflammation (QUELL-CV)(Phase 2)
diabetic macular edema (DME)(Phase 1)
Catalysts
— H2 2026
— mid-2026
— mid-2027
Status note Lead product candidate. NLRP3 inhibition; Phase 1 SAD/MAD (April 2026) showed reductions in hsCRP and inflammatory biomarkers. QUELL-CV (160 adults with obesity and hsCRP >3 mg/L, 30/60/90 mg QD vs placebo, 12 weeks) dosed first participant June 2026. DME is first ophthalmology proof-of-concept indication. Company evaluating additional NLRP3 indications.
APJ agonist programs
Preclinical · ActiveModality: antibody; small molecule
Target APJ
Partnerships JiKang Therapeutics (option agreement, June 2025, for a novel APJ agonist antibody)
Indications
obesity(Preclinical)
Catalysts
— year-end 2026
Status note APJ agonism programs include a novel APJ agonist antibody (JiKang option) and novel small-molecule APJ agonists (US provisional patent filed). Preclinical obesity models cited by company; first IND intended by year-end 2026.
platform-derived discovery programs
Discovery · Active
Partnerships Eli Lilly and Company (advancing earlier-stage platform-derived programs); Novartis Pharma AG (target discovery collaboration, Dec 2024: up to $20M upfront/research funding, up to $530M milestones, reciprocal milestones and tiered royalties)
Indications
undisclosed(Discovery)
Status note Earlier-stage platform-derived programs in collaboration with Lilly; separate target-discovery collaboration with Novartis investigating mechanisms of aging and exercise biology. No named candidates disclosed.
Per-asset detail extracted from the 10-Q filed 2026-08-05. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.
Sponsor-matched active trials from ClinicalTrials.gov (2 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.
Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.
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