Egetis shares jump about 13% after US FDA approval of Emcitate
Rare disease drugmaker Egetis surged about 13% after US FDA approval of its Emcitate drug, with Van Lanschot Kempen saying the approval unlocks the firm’s largest opportunity and pointing to uptake expectations and commercial outlook factors including higher WAC and a priority review voucher worth up to $220 million.
Shares in rare disease drugmaker Egetis rose about 13% after US FDA approval of its Emcitate drug. Van Lanschot Kempen said the US approval unlocks the firm's "largest opportunity" and that Emcitate is the first effective option for MCT8 deficiency, an ultra-rare genetic condition, with the label covering thyrotoxicosis alleviation. The broker said it expects "strong uptake in the identified patients" because datasets indicate survival and quality of life benefits from the newly approved medication. It added that a higher estimated wholesale acquisition cost, or WAC, and a priority review voucher worth up to $220 million support the commercial outlook.