Commercial UncertaintyRegarding the commercial opportunity, management notes that this will be hard to answer until the profile is known, adding that if data replicates previous results, questions will answer themselves.
Competitive LandscapeThe lead asset varegacestat is a Phase 3 oral small molecule gamma-secretase inhibitor with one marketed competitor for rare progressing desmoid tumors, heading into a pivotal topline readout.
Developmental ChallengesManagement reiterated that AL102 Phase III data are expected during H2:2025, which could prove to be very competitive if the data are comparable to Phase II.