Contineum Therapeutics (CTNM) Stifel 2024 Healthcare Conference summary

Pipeline overview and clinical progress

• Focus on neuroscience, inflammation, and immunology with two clinical-stage assets: an M1 receptor antagonist partnered with J&J and PIPE-791, a brain-penetrant LPA1 inhibitor.

• PIPE-791 completed phase 1 and is advancing to phase 1b PET and two phase 2 studies in idiopathic pulmonary fibrosis (IPF) and progressive MS in the coming year.

• Announced a new exploratory phase 1b study for PIPE-791 in osteoarthritis and chronic lower back pain.

• M1 antagonist is in phase 2 for relapsing-remitting MS, with J&J initiating a phase 2 study in depression.

• Cash runway extends to end of 2027, with $214 million in the bank as of last quarter.

Scientific rationale and differentiation

• LPA1 antagonism is clinically validated in IPF; prior BMS studies showed reduced FVC decline but had off-target toxicity issues.

• PIPE-791 designed for high receptor occupancy at low doses, with a slow association-dissociation rate for steady coverage.

• PET study will assess receptor occupancy in both lung and brain, leveraging strong correlation between the two.

• M1 antagonist is highly selective, aiming to avoid cognitive side effects seen with non-selective anticholinergics.

• Preclinical and early clinical data suggest best-in-class potential for PIPE-791 in IPF, PPF, and other ILDs.

Study design and future plans

• PIPE-791 phase 1b PET study starts in December, followed by phase 2 proof-of-concept in IPF and progressive MS.

• Progressive MS study will use MRI, functional composites, and TSPO PET to assess remyelination and neuroinflammation.

• Exploratory pain study for PIPE-791 is placebo-controlled, trend-seeking, and aims to complete by Q1 2026.

• M1 antagonist phase 2 in MS is two-thirds enrolled, targeting completion in H1 2025; J&J depression study to initiate this year.

• Proof of concept in MS will focus on visual acuity and MRI biomarkers.