EQUITY RESEARCH MEMO

SpliSense

Generated 5/24/2026

Executive Summary

Conviction (model self-assessment)70/100

SpliSense is an Israeli clinical-stage biotechnology company developing inhaled antisense oligonucleotide (ASO) therapies for pulmonary diseases. Founded in 2020, the company leverages a proprietary ASO design platform to target the genetic root causes of respiratory disorders, including cystic fibrosis (CF), COPD, and severe asthma. By using non-invasive aerosol delivery, SpliSense aims to modulate or correct disease-relevant proteins directly in the lungs, minimizing systemic exposure. The company's lead candidate, SPL-101, is a novel ASO designed to restore functional CFTR protein in patients with CF who carry specific mutations. Currently in Phase 1/2 clinical trials, SPL-101 has potential to address a significant unmet need in the CF population, particularly for those not eligible for existing modulators. SpliSense's platform also supports a pipeline of preclinical candidates targeting other respiratory diseases, positioning the company to expand its reach into larger markets such as COPD and asthma. With a strong intellectual property portfolio and a focused team of 10-50 employees, SpliSense is poised to advance its lead program through clinical development and explore partnership opportunities. The company's innovative approach and initial clinical data could validate its platform and drive significant value.

Upcoming Catalysts (preview)

  • Q3 2026Phase 1/2 interim data readout for SPL-101 in cystic fibrosis60% success
  • Q1 2027FDA IND clearance or Phase 1 initiation for SPL-201 in COPD or asthma50% success
  • Q4 2026Strategic partnership or licensing deal for ASO platform or lead candidate40% success
Locked sections
  • · Pipeline Analysis
  • · Competitive Landscape
  • · Catalyst Calendar (full 12-month)
  • · Bull Case
  • · Bear Case
  • · Counterfactual Scenarios
  • · Valuation Notes
  • · SEC Filing Highlights
  • · Insider Activity
  • · Literature Watch
  • · Patent Landscape
  • · Mechanism Cluster Map
  • · Audio Briefing (5 min)