Several key clinical trial results are expected in the first half of 2026, potentially shaping future developments in cardiovascular disease, Alzheimer’s, obesity, and ophthalmology treatments. The most anticipated among these is the Phase III readout for pelacarsen, a drug developed by Ionis Pharmaceuticals and licensed to Novartis for Lp(a)-driven cardiovascular disease. Myles Minter, biotech equity research analyst at William Blair, described it as “the biggest biotech event of the entire year.” He explained that while many pharmaceutical companies are targeting Lp(a) as a risk factor for heart disease, “we don’t yet know if lowering Lp(a) works at all, so this is the first study to flip that data card.”
The pelacarsen trial results were delayed from an initial expectation in early 2025 due to fewer than expected cardiovascular events among participants. According to Minter, this likely reflects patients’ adherence to current treatments rather than any lack of drug efficacy. If successful, this trial could set a benchmark for competitors such as Amgen, Lilly, AstraZeneca, and Merck. Analysts project that by 2033 the market for therapies targeting Lp(a) could exceed $8.5 billion.
Vertex Pharmaceuticals also awaits important interim results from its Phase III RAINER trial for povetacicept in IgA nephropathy (IgAN), acquired through Vertex’s $4.9 billion purchase of Alpine Immune Sciences in April 2024. The company plans to complete its rolling biologics license application submission during the same period. Positive outcomes could lead to FDA approval by late 2026 due to Vertex’s priority review voucher. Meanwhile, Novartis is developing a competing BAFF-targeting drug called ianalumab.
In Alzheimer’s research, Eli Lilly expects top-line Phase III data from its TRAILRUNNER-ALZ 1 study of remternetug in early symptomatic Alzheimer’s patients—an anti-amyloid antibody seen as a successor to Kisunla (approved by the FDA in 2024). “Even in Phase I, we’re seeing very robust results across a range of doses,” said Dawn Brooks, Lilly’s global development leader for Alzheimer’s disease.
Ocular Therapeutix is preparing data from its Phase III SOL-1 trial on Axpaxli for wet age-related macular degeneration (AMD). Axpaxli offers six-month dosing intervals and could change treatment paradigms if successful. Graig Suvannavejh of Mizuho Securities noted that Ocular has a slight advantage over EyePoint Pharmaceuticals due to earlier expected readouts; both firms may become acquisition targets if their trials succeed. Current market leaders Regeneron and Roche together command a significant share of the wet AMD market—valued between $14 billion and $15 billion annually.
In obesity therapy research, Wave Life Sciences reported promising interim Phase I data on WVE-007—a single RNAi injection therapy aimed at reducing body fat without muscle loss—which led to an approximate 80% surge in company stock value after announcement. The company plans further updates on higher dose cohorts through mid-2026.
These upcoming clinical readouts reflect broader trends within biopharma: increasing competition around novel mechanisms and large markets like cardiovascular risk reduction and obesity treatment continue to attract investment and analyst attention.
