TD Cowen Insights

Recorded on 03/03/26 TD Cowen life science & diagnostic tools analyst Kyle Boucher speaks with Bio-Techne CEO Kim Kelderman at TD Cowen's 46th Annual Health Care Conference to discuss Bio-Techne's 50-year anniversary, innovation and portfolio evolution, and growth pillars ahead. Since 1976 Bio-Techne has offered a wide range of critical reagents, assays, and analytical tools for customers in diagnostic, pharma, biotech, and academic settings, and has created one of the most consumables-focused portfolios in life science tools. CEO Kelderman reflects on Bio-Techne's 50-year history, including the last 10 years where the portfolio has grown through several inorganic acquisitions addressing multiple high-growth verticals that have laid the foundation for the next leg of growth. https://go.td.com/PodcastDisclosure Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Recorded on 03/01/26 TD Cowen senior biotech analyst Phil Nadeau speaks with Rhythm CEO David Meeker and CFO Hunter Smith at TD Cowen’s 46th Annual Health Care Conference to discuss Rhythm's strategic vision for establishing itself as the premier company in the orphan obesity space. Rhythm leverages the melanocortin pathway to address severe, early-onset obesity disorders, and its strategy is structured around three main pillars: genetic obesities, hypothalamic obesity (HO), and Prader-Willi syndrome. Building on the successful launch of Imcivree in Bardet-Biedl syndrome (BBS), Rhythm is now preparing for what may be its most significant launch to date: Imcivree for the treatment of hypothalamic obesity. Rhythm is optimistic that Imcivree will set a new standard of care for HO, significantly improve patient outcomes, and generate considerable value for shareholders. Beyond HO, Meeker and Smith outlined additional opportunities for Rhythm’s melanocortin-4 receptor (MC4R) agonists in other rare obesity disorders. These include ongoing investigations in various genetic obesity conditions as part of the Phase III EMANATE trial, as well as progress in Prader-Willi syndrome, where Imcivree demonstrated proof-of-concept efficacy in late 2025. To ensure the long-term success of the MC4R franchise, Rhythm is advancing a comprehensive life cycle management strategy, which includes the clinical development of next-generation MC4R agonists such as bivamelagon and RM-718. https://go.td.com/PodcastDisclosure Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Recorded on 03/03/26 TD Cowen senior biotech analyst Ritu Baral speaks with Compass CEO Kabir Nath at TD Cowen’s 46th Annual Health Care Conference. Discussion focused on FDA’s current approach to psychedelic drug development, what it signals for the broader psychiatry landscape, and the evolving interventional psychiatry infrastructure in the community setting. Nath highlights a highly engaged and collaborative FDA Psychiatry Division, noting the agency's recent acceptance of 7-8 psychedelic therapy INDs, and its willingness to work constructively with sponsors despite relatively small datasets in early development. He highlights recent positive psychedelic clinical datasets as many traditional antidepressant approaches continue to fall short, including Compass’s successful Phase 2 and 3 TRD results across three standardized studies as evidence of the category’s clinical potential. The conversation also explores how the existing interventional psychiatry infrastructure in the community setting, shaped in part by the successful launch of Spravato, has transformed the field and lowered barriers for future commercial uptake of innovative psychedelic therapies. With 7200+ certified Spravato treatment sites now in place and increasing familiarity with REMS-based models, Nath emphasizes the importance of bringing forward additional options in the psychedelic space to address significant unmet need across MDD, TRD, and PTSD as psychiatry treatment paradigms continue to evolve. https://go.td.com/PodcastDisclosure Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Recorded on 03/03/26 TD Cowen FutureHealth Podcast is part of TD Cowen's ongoing series that continues our efforts to bring together thought leaders, innovators, and investors to discuss how the convergence of healthcare, technology, consumerism, and policy is changing the way we look at health, healthcare, and the healthcare system. To discuss the role of digital therapeutics in the ongoing consumerization of healthcare, we're joined by Randall Stanicky, CFO of Click Therapeutics. We discuss the evolution of the digital therapeutics market, Click's partnerships with Otsuka and wearables company Ultrahuman, and Click's potential role in the continuing consumerization of healthcare. This episode was recorded at TD Cowen's 46th annual Health Care Conference. https://go.td.com/PodcastDisclosure Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Recorded on 03/17/26 TD Cowen financial policy analyst Jaret Seiberg hosts this episode, which looks at Washington's focus on housing policy, including legislation that the Senate recently passed and executive orders that President Trump signed. We also get a market update from TD Cowen specialty salesperson Scott Smith. https://go.td.com/PodcastDisclosure Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Recorded on 03/13/26 In this episode, Roman Schweizer, TD Cowen’s WRG geopolitics & defense analyst, is joined by a dynamic duo of reporters to discuss the first two weeks of Operation Epic Fury. They also discuss the outlook for an OEF war supplement for munitions and other costs, and the War Department's FY27 budget request and the possibility of a 2nd GOP reconciliation bill. https://go.td.com/PodcastDisclosure Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Recorded on 03/03/26 There's no shortage of debates in the CRO space right now: the impact of regulatory changes, a potentially rebounding macro environment, and, most recently, the implications of AI. We're joined by Birgit Girshick, current Executive Vice President, Chief Operating Officer, and incoming CEO of Charles River Labs. We discuss her vision and key priorities for CRL, the biggest recent changes she's seen in the industry, the potential impact of AI, and where she sees the largest strategic opportunities. This episode was recorded at TD Cowen's 46th annual Health Care Conference. https://go.td.com/PodcastDisclosure Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Recorded on 02/25/26 Five years ago, concierge medicine was on the fringes of society, and now it's mainstream. Radence, a leading precision health company, moves the goal posts further by focusing on "concierge science." In this podcast, we explore what concierge science means with the CEO of Radence, David Medvedeff. Radence's unique approach leverages a team of leading scientists to identify the best cutting-edge technologies for its members. The company seeks to provide the critical testing, monitoring, and strategic precision medicine overlay to support and enhance forward-thinking PCPs who seek to extend health span and reduce chronic illness. https://go.td.com/PodcastDisclosure Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Recorded on 03/04/26 In this episode, TD Cowen's Health Care Analyst Brendan Smith hosts Dr. Shantanu Singh, Senior Group Leader at the Broad Institute, to explore the emerging use cases for AI in basic science research and the recent increase in data sharing initiatives across the sector. We discuss how researchers are countering key bottlenecks with novel data sharing techniques and what this paradigm shift could mean for the evolution of health care AI and the industry as a whole. https://go.td.com/PodcastDisclosure Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Recorded on 11/05/25 We Believe The Future Of Retail Is Adaptive: Expert A.I. Briefing. We host Francois Chaubard, Partner at Y Combinator & Founder & former Focal Systems CEO, in the second episode of a two-part series on A.I. in retail. In this episode, we dive deeper into this important topic and discuss key themes, including frontier vs. application models, diffusion policy, and safety & ethics. https://go.td.com/PodcastDisclosure Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Recorded on 03/02/26 AI is disrupting many industries, and one of its most surprising use cases could be for mental health and therapy. A key question, however, is: are commercial AI models safe to use for this purpose? In this episode, we are joined by Dr. Jon R. Cohen, CEO of Talkspace, to discuss why people are turning to AI for therapy, the potential dangers of using generative AI in this space, and how Talkspace is uniquely positioned to solve for these issues. This episode was recorded live at TD Cowen's 46th annual Health Care Conference. https://go.td.com/PodcastDisclosure Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Recorded on 03/02/26 TD Cowen senior biotech analyst Yaron Werber speaks with Amy Burroughs, CEO of Terns Pharmaceuticals, at the 46th Annual TD Cowen Health Care Conference, discussing leadership, resilience, and innovation in biotech. Amy reflects on her non‑linear career path from large organizations to smaller biotechs, and how those experiences shaped her approach to building teams and leading through change. She discusses how Terns, inspired by the agility and persistence of the Arctic tern, evolved through multiple pivots to focus on TERN-701, its lead program in chronic myeloid leukemia (CML). She outlines the key unmet need in CML – the pursuit of functional cures – and explains Terns’ plans to advance TERN‑701 into pivotal trials with urgency and discipline. On a personal note, Amy describes her leadership “superpower”: learning not to be the smartest person in the room, listening intently, and surrounding herself with trusted advisors. https://go.td.com/PodcastDisclosure Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Recorded on 03/03/26 TD Cowen senior biotech analyst Ritu Baral speaks with Praxis CEO Marcio Souza at TD Cowen’s 46th Annual Health Care Conference to discuss FDA functionality following recent leadership changes and destaffing, approaches to working with the agency on complex datasets, and implications for the broader biotech sector. Drawing on Praxis’s extensive regulatory experience, Souza notes that despite chronic FDA understaffing, engagement with the Office of Neuroscience has remained stable and highly productive. He underscores the value of incorporating FDA guidance early in endpoint and trial design in areas such as essential tremor, where regulatory precedent is limited, and emphasizes that frequent, senior-level interaction and a patient-centric framing of complex data can help drive alignment and constructive regulatory dialogue. He adds that investors can gauge the quality of a developer’s relationship with the agency by looking at the recency of FDA communications and the level of senior leadership engagement during recent interactions. https://go.td.com/PodcastDisclosure Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Recorded on 03/02/26 TD Cowen's Health Care Technology Analyst Charles Rhyee speaks with Adam Kautzner, PharmD, President of Express Scripts and Evernorth Care Management, a part of The Cigna Group, at TD Cowen’s 46th Annual Health Care Conference to discuss how the industry is beginning to move away from rebates, and what that means for patients, employers, drug makers, pharmacies and PBMs. The role of the PBM has been a contentious topic for years but seemingly has come to an inflection point with the recent passage of reform legislation, along with Cigna's recent settlement with the FTC. And coming out of all this is a changing world for drug reimbursement. Along with greater transparency, the market is increasingly moving further away from rebates. This is most recently expressed by new Cigna's rebate-free model announced last October. https://go.td.com/PodcastDisclosure Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Recorded on 02/12/26 Trust, Engaging Content, & Experiences Shape Leading Luxury Car Ecosystem. duPont REGISTRY is the world's leading luxury automotive ecosystem that encapsulates the culture, community, and commerce of the high-end automotive lifestyle. Operating in the $110bn luxury used-car market, which is expected to double in the next 10 years, duPont REGISTRY is a heritage brand being transformed and has no exact competitors. In this episode, we host CEO Antoine Tessier. Prior to joining duPont REGISTRY, he spent 12 years at LVMH, most recently as the Chief Technology Officer for LVMH Americas. We discuss a range of topics, from connecting buyers and sellers of fine automobiles around the globe to creating digital experiences. https://go.td.com/PodcastDisclosure Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Recorded on 02/05/26TD Cowen financial policy analyst Jaret Seiberg hosts TD Cowen's Two Cents Podcast, which this month looks at what we can expect from Kevin Warsh, who is President Trump's pick to replace Jerome Powell as Federal Reserve chair. To help us assess the impact on interest rates, we bring in Gennadiy Goldberg, Head of US Rates Strategy  at TD Securities. We also present our market and policy recaps and preview the month ahead for financial policy. https://go.td.com/PodcastDisclosure Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Recorded on 01/30/26In this episode, Roman Schweizer, TD Cowen’s WRG geopolitics & defense analyst, is joined by an all-star reporter roundtable to discuss FY26 & FY27 budgets and Reconciliation 2.0. They also discuss DoW's latest push to fund multi-year deals for munitions increases, some surprise charges during earnings, and how company managements have discussed investments, buybacks, and dividends. And there's a new National Defense Strategy that’s much different than the prior one. https://go.td.com/PodcastDisclosure Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Recorded on 01/16/26In this episode, Gautam Khanna, TD Cowen's A&D equity analyst, joins Roman Schweizer, TD Cowen’s WRG geopolitics & defense analyst, to preview the upcoming A&D earnings season and the top geopolitical & defense macro topics in Washington, including FY26 & 27 budgets and Reconciliation 2.0. They also cover last month's defense Ahead of the Curve® report, Remaking The Arsenal of Freedom & Military-Tech Fusion. https://go.td.com/PodcastDisclosure Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Recorded on 11/05/25We Believe The Future Of Retail Is Adaptive: An Expert A.I. Briefing. We host Francois Chaubard, Partner at Y Combinator, and Founder & Former Focal Systems CEO, in the first episode of a two-part series on the rapidly evolving A.I. landscape in retail. We discuss how A.I. is impacting customer experience & inventory management, when to outsource solutions, which technologies are most exciting for retail, and the impact A.I. and automation can have on retailers' P&Ls. https://go.td.com/PodcastDisclosure Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Recorded on 01/08/26TD Cowen financial policy analyst Jaret Seiberg hosts TD Cowen's Two Cents Podcast, which this month looks at our 2026 expectations on the policy front for financials, crypto, and housing. We see deregulation, though risks include the rise of populism and the midterm elections. We also focus on market concerns with Scott Smith, TD Cowen's specialty salesperson for financials. https://go.td.com/PodcastDisclosure Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.