Sep. 1 at 10:11 AM
Truist on
$CYTK (Buy;
$112) said -- We reiterate our Buy for CYTK following detailed ACACIA analyses at ESC this past weekend.
$EWTX $BMY TECX TENX AZN NVO BAYRY
Truist added—Despite ACACIA's imbalance in heart failure (4.7% vs. 1.2% pbo), we see a sizable and under-appreciated opportunity with Myqorzo in HCM (we model
$5.8B in WW peak rev, 2036E).
KOL checks highlight HF as a known side effect of CMIS, ACACIA had no afi-related deaths, improved HF rates with real-world-like use (FOREST-HCM).
We believe Myqorzo will likely become the first approved therapy for nHCM (possibly with different REMS vs. oHCM) making it the only approved therapy for all of HCM, with potential to promote its use case over oHCM-only CMIs.
We reiterate our Buy rating and
$112 PT.
