Apr. 23 at 11:04 AM
Mizuho⬆️the PT on
$RVMD to
$185 from $!40, reiterated at Outperform, and said that it now models 2035🌐risk-adj'd PDAC revenue of
$14B.
$IMRX ERAS TGNX ANL VSTM
$BBOT
Mizuho said in its note:
Following last week's unprecedented survival benefit from RASolute 302 of daraxonrasib in 2L pancreatic cancer (PDAC), and now updated data for daraxonrasib (+/- GnP) in 1L PDAC, we raise our PT to
$185 from
$140 as we take up our PDAC PoS (80% -- >90%) and accelerate the trajectory of adoption in 1L/2L PDAC.
While updated 1L PDAC didn't provide PFS/OS curves (immature with medians not reached), 6-month landmark analyses for both regimens compare very favorably to historical GnP (see pages 3 and 4 for data comps). Together with the performance of daraxonrasib in 2L, we see the opportunity in 1L PDAC and the now ongoing RASolute 303 study as extremely well-positioned and supportive of the now
$14B we model in risk-adjusted 2035 WW PDAC revenues. Reiterate Outperform.
