Edgewise Therapeutics' EDG-7500 Seen Entering 'Catalyst-Dense' Regulatory Period, Oppenheimer Says
Edgewise Therapeutics (EWTX) is entering a "catalyst-dense" period for EDG-7500, highlighted by an end-of-phase 2 FDA meeting in H2 and the planned start of a phase 3 study in Q4, Oppenheimer said in a Thursday note. The company delivered a de-risking phase 2 readout, indicating that EDG-7500 has the potential to ease obstruction without weakening the heart muscle and could corner a share of the growing HCM market if approved. In addition, Edgewise's $1.55 billion sale of Sevasemten and its muscular dystrophy portfolio in June is expected to keep the company fully funded for the planned phase 3 studies and through product commercialization, Oppenheimer said. Oppenheimer initiated coverage of Edgewise Therapeutics with an outperform rating and a $51 price target. Shares of Edgewise were up 2.7% in Thursday trading. Price: $47.56, Change: $+1.26, Percent Change: +2.72%
Edgewise Therapeutics (EWTX) is entering a "catalyst-dense" period for EDG-7500, highlighted by an end-of-phase 2 FDA meeting in H2 and the planned start of a phase 3 study in Q4, Oppenheimer said in a Thursday note.
The company delivered a de-risking phase 2 readout, indicating that EDG-7500 has the potential to ease obstruction without weakening the heart muscle and could corner a share of the growing HCM market if approved.
In addition, Edgewise's $1.55 billion sale of Sevasemten and its muscular dystrophy portfolio in June is expected to keep the company fully funded for the planned phase 3 studies and through product commercialization, Oppenheimer said.
Oppenheimer initiated coverage of Edgewise Therapeutics with an outperform rating and a $51 price target.
Shares of Edgewise were up 2.7% in Thursday trading.
Price: $47.56, Change: $+1.26, Percent Change: +2.72%