Feb. 3 at 11:31 AM
Citizens reiterated
$ACAD Market Outperform-
$34 and said, Likely negative CHMP opinion on the trofinetide MAA for Rett syndrome slows expansion into the EU
$TSHA $NGNE $AVXL
Citizens added, Yesterday afternoon, Acadia announced a negative CHMP trend vote on its trofinetide MAA for Rett Syndrome after an oral explanation, and the company expects a negative CHMP opinion. The formal CHMP opinion is anticipated later in February, and management intends to seek a re-examination of the opinion should it be unfavorable. While this update is disappointing, exU.S. sales of trofinetide represent
potential upside to our model and valuation.