Focus on execution in FY26

Oryzon Genomics has reported its Q126 results, reflecting a productive period for the company. Notably, Oryzon is executing its strategy involving a higher focus on iadademstat in oncology/haematology (see our outlook note for details), having delivered positive clinical updates relating to its ALICE-2 and FRIDA trials in distinct acute myeloid leukaemia (AML) settings; multiple further potential catalysts are anticipated through the year. For vafidemstat in CNS conditions, management continues to actively prepare for the PORTICO-2 protocol resubmission to the FDA, representing a long-term value driver for the company. The Q126 update showed a step-up in R&D expenditure to €4.5m (€2.4m in Q125), reflecting a higher pace of clinical execu...