Idorsia (IDIA) TD Cowen 46th Annual Health Care Conference summary

Strategic and financial overview

• Restructured debt in January 2025, resulting in an unencumbered equity story and improved financial alignment with revenue growth.

• Focused on unlocking value from commercial assets and advancing a robust pipeline built on a legacy of drug discovery.

• Outperformed 2025 sales guidance for Quviviq, achieving CHF 134 million, with a 2026 outlook of CHF 200 million.

• Actively seeking partnerships for key assets to maximize value and balance sheet flexibility.

• Leadership transition in July, with emphasis on operational excellence and program advancement.

Commercial portfolio updates

• Quviviq shows strong growth in Europe, Canada, Japan, and China, with significant patient uptake and expanding geographic reach.

• Commercial strategy focuses on specialist-driven adoption, reimbursement, and co-promotion with partners for broader GP access.

• U.S. growth is limited by current scheduling; efforts underway to deschedule based on global safety data and lack of abuse signals.

• Pediatric insomnia program progressing, with phase 2 dose-finding data expected by early Q2.

• Tryvio (aprocitentan) differentiated by broad label, strong safety profile, and inclusion in recent hypertension guidelines.

Pipeline and R&D progress

• Lucerastat for Fabry disease offers oral therapy with broad applicability, strong safety/tolerability, and pivotal trial underway; filing targeted for 2029.

• Exploring expansion of lucerastat to other lysosomal storage diseases, pending pivotal data and regulatory discussions.

• CCR6 antagonist program initiated in psoriasis for proof of concept, with potential to expand to other Th17-mediated diseases.

• CXCR7 antagonist for progressive MS trial initiation expected by Q2, focusing on remyelination and anti-inflammatory endpoints.

• CXCR3 antagonist for vitiligo aims to address unmet need with an oral therapy, with trial initiation planned for later this year.