Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.
Phase 2 · ActiveModality: monoclonal antibody (IV and SC formulations)
Target CD19
Partnerships Acelyrin (Alumis): asset purchase ($157.5M milestones, single-digit royalties, sublicense fees; milestone-payment dispute in Delaware Superior Court, filed Dec 2025). Cancer Research Technology (CRH): exclusive license ex-oncology (up to GBP 106.8M milestones; mid-single to high-single-digit royalties)
Indications
Primary membranous nephropathy (pMN)(Phase 2)
Immune thrombocytopenia (ITP)(Phase 1)
Systemic lupus erythematosus (SLE)(Phase 1)
Catalysts
— Q4 2026
— Q4 2026
— Q4 2026
— 2027
Status note Lead program. Orphan-drug designation (Jan 2023) and Fast Track (Apr 2026) for pMN. Phase 2 PrisMN (pMN) enrolling second cohort; Phase 1b/2a ITP and Phase 1b SLE enrolling; China SLE Phase 1b/2a dosing since Jun 2026. IV + high-concentration SC formulation in development.
CLYM116
Phase 1 · ActiveModality: monoclonal antibody
Target APRIL
Partnerships Mabworks Biotech: exclusive license ex-Greater China ($9M upfront; up to $30M dev/reg milestones for first indication; up to $832M commercial; low-to-mid single-digit royalties; amended and restated Jul 2026)
Indications
IgA nephropathy (IgAN)(Phase 1)
Catalysts
— September 3, 2026
— Q3 2026
— 2027
Status note Phase 1 healthy-volunteer dosing completed June 2026; partner Mabworks running parallel Phase 1/2 in China (healthy volunteers and IgAN).
ETX-123
Stage not disclosed · ActiveModality: small molecule (potassium channel opener)
Target Kv7.2/3
Status note Legacy lead program from the company's prior neuronal-excitability focus; development paused July 2023 and the company intends to seek a partner. Soft wind-down, not formally discontinued.
ETX-155
Stage not disclosed · Active
Status note Legacy/previous product candidate from the prior neuronal-excitability program; no active development stated in this filing.
Per-asset detail extracted from the 10-Q filed 2026-08-06. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.
Sponsor-matched active trials from ClinicalTrials.gov (5 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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