Contineum Therapeutics (CTNM) Goldman Sachs 47th Annual Global Healthcare Conference 2026 summary

Key clinical catalysts and competitive landscape

• Focus for 2024 is clinical execution of the phase II PROPEL-IPF study for PIPE-791, a best-in-class LPA1 receptor antagonist targeting idiopathic pulmonary fibrosis (IPF).

• Anticipated phase III data readout from BMS's admilparant in Q4 2024 will further validate LPA1 antagonism in IPF, with over 1,200 patients included.

• PIPE-791 is differentiated by once-daily dosing, no need for titration, and absence of hemodynamic signals seen with admilparant.

• Unique pharmacokinetic profile enables >90% receptor occupancy, mimicking antibody-like efficacy with a small molecule.

• The PROPEL-IPF phase II study is enrolling 324 patients across 20+ sites, with strong patient receptivity and rapid site activation.

Differentiation and mechanistic insights

• PIPE-791 offers dosing convenience and improved tolerability compared to competitors, avoiding the cumbersome titration and hemodynamic issues of admilparant.

• Animal models and early clinical data show PIPE-791 achieves high receptor occupancy with a slow association/dissociation rate, reducing hemodynamic impact.

• PIPE-791 is the only LPA1 antagonist with CNS penetration, enabling potential benefits in pain management.

• The compound’s PK properties allow for consistent brain penetration and steady receptor occupancy at all tested doses.

• Background therapies in the PROPEL-IPF study currently include nintedanib and pirfenidone, with plans to add JASCAYD as it gains market traction.

Market dynamics and future development

• The IPF treatment landscape is evolving, with polypharmacy expected to become standard as new agents emerge.

• PIPE-791 is positioned as a potential backbone therapy due to its safety, tolerability, and combinability with other agents.

• The company is monitoring new entrants like JASCAYD and TPIP, but current recruitment for PROPEL-IPF is strong due to limited competing phase III trials.

• Patient-reported outcomes, including pain, are being incorporated as secondary endpoints to capture total patient benefit.

• Over 50% of IPF patients over 75 experience chronic pain, currently managed with NSAIDs or opioids, highlighting the need for safer alternatives.