Status note Lead program for ADPKD; previously evaluated in Phase 1 and a Phase 2a in NAFLD. Plan: Phase 1 confirmatory study Q3 2026, Phase 2 POC in ADPKD Q4 2026, early readout H2 2027.
Difficult-to-treat and drug-resistant fungal infections(Phase 1)
Catalysts
— Q3 2026
Status note Phase 1 oral and IV formulation studies; oral studies complete (88 healthy subjects, SAD/MAD); IV study initiated Q1 2026 with data anticipated Q3 2026.
BREXAFEMME
Approved · ActiveModality: fungeRP antifungal
Aliases ibrexafungerp tablets
Target glucan synthase
Partnerships GSK (GlaxoSmithKline Intellectual Property (No. 3) Limited): licensed May 2023; NDA transfer completed Nov 2025; GSK to initiate regulatory interactions with FDA on US relaunch for VVC and refractory VVC. Hansoh (Greater China) and R-Pharm (Russian Federation and certain countries) commercialization collaborations
Indications
Vulvovaginal candidiasis (VVC) and reduction in incidence of recurrent VVC(Approved)
Status note First approved fungeRP (ibrexafungerp tablets). MARIO Phase 3 study of ibrexafungerp terminated Q4 2025.
Per-asset detail extracted from the 10-Q filed 2026-08-10. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.
Sponsor-matched active trials from ClinicalTrials.gov (1 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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