Identifying effective therapies for patients living with heart failure (HF) with preserved ejection fraction (HFpEF) has remained challenging. The recently completed PARAGON-HF (Prospective Comparison of ARNI with ARB Global Outcomes in HF With Preserved Ejection Fraction), 1 the largest HFpEF trial conducted to date, examined a first-in-class angiotensin receptor-neprilysin inhibitor (ARNI), sacubitril/valsartan, compared with valsartan among 4822 patients with signs and symptoms of HF, left ventricular ejection fraction (LVEF) ≥45%, elevated natriuretic peptides, and evidence of structural heart disease. Patients allocated to sacubitril/valsartan experienced modestly lower rates of composite cardiovascular death and total HF hospitalizations compared with patients randomized to valsartan after a median follow-up of 35 months, but this treatment effect did not meet pre-specified statistical significance thresholds (Figure 1). We contextualize these trial findings, including learnings from subsequent secondary analyses, and reflect on key trial elements that may inform the next phase of therapeutic development in HFpEF. Were the intended biological pathways affected and anticipated haemodynamic responses achieved in PARAGON-HF? Irrespective