SynAct Pharma is weeks away from one of the most anticipated clinical readouts in its history. The Phase 2b ADVANCE study – 246 newly diagnosed rheumatoid arthritis patients, 12 weeks of treatment, three dose levels – has completed recruitment and is expected to deliver topline data in Q2 2026. This is the year that will define whether selective melanocortin agonism can establish itself as a genuine therapeutic class. But what does a positive result actually look like, and how should investors interpret the data when it arrives? BioStock put those questions directly to Chief Business Officer Mads Bjerregaard.