Mar. 2 at 11:56 AM
$EIKN Mizuho🏁
$EIKN and said, We are initiating coverage of Eikon with an Outperform rating and
$26 PT.
$MRK
Mizuho added, Eikon's single-molecule tracking (SMT) platform represents a novel and differentiated approach to drug discovery that has the opportunity to accelerate discovery timelines and potentially increase probabilities of clinical success.
We expect the SMT platform to be a robust source of potential best-in-class and/or first-in-class programs across multiple therapeutic areas.
EIK1005 is a WRN inhibitor with best-in-class potential now entering Phase I development. It represents the first program identified by SMT to be advanced into clinical development and is complemented by several other in-licensed clinical stage programs that leverage EIKN's development expertise.
We project ~
$1.5B in risk-adjusted 2035 WW sales across the current pipeline, and expect a healthy flow of clinical updates, new program starts and disclosures to provide meaningful upside opportunity.
