Context Therapeutics (CNTX) TD Cowen 46th Annual Health Care Conference summary

Strategic focus and pipeline overview

• Focused on developing T-cell engagers, a class of antibodies that bridge immune cells and cancer cells using tumor antigens as targets.

• Pipeline includes three externally discovered programs: Claudin 6 (CT76), mesothelin (CT-95), and Nectin-4 (CT-202), all targeting solid tumors.

• Claudin 6 targets ovarian, endometrial, and testicular cancers; mesothelin targets pancreatic, ovarian, and mesothelioma; Nectin-4 targets multiple tumors including triple-negative breast, bladder, and lung cancers.

• Nectin-4 program entering the clinic in Q2, with ongoing and upcoming quarterly clinical updates.

• Emphasis on high-affinity CD3 for potent immune activation and a capital-efficient model focused on clinical advancement.

Clinical development and data milestones

• Claudin 6 phase I data to be disclosed in Q2, focusing on ovarian cancer with a robust dataset of 10–12 patients at target dose.

• Mesothelin phase I data expected mid-2026, with current focus on pancreatic, ovarian, and mesothelioma indications.

• Nectin-4 clinical trial design and tumor targets to be disclosed soon, with first-in-clinic activities planned for Q2.

• Quarterly clinical updates anticipated for all programs starting Q2 onward.

• Well-financed with $115 million raised in 2025, supporting all key inflection points.

Scientific and competitive positioning

• T-cell engagers offer rapid adoption and superior sales growth compared to ADCs, with increasing approvals in solid tumors.

• Claudin 6 program shows high selectivity and promising preclinical efficacy, with potential to address ADC-resistant ovarian cancer.

• Mesothelin program engineered for low lung toxicity, differentiating from competitors through lower affinity binding and safety profile.

• Nectin-4 program uses pH-dependent binding to reduce skin toxicity, with preclinical data showing minimal IL-6 induction and robust efficacy.

• Limited competition in Nectin-4 space, with unique CD3-based approach and broad patient eligibility.