Aug. 31 at 3:23 PM
Wolfe Research reiterated
$PTGX Outperform-
$225 and said -- "Mimry-Lo And Behold, Another Approval For Protagonist" — ests
$2.9B peak sales (
$831M in payments to PTGX).
$TAK IONS IRON AGIO SLN
$JNJ ABBV ALMS ABVX BMY
Wolfe Research added—We forecast peak sales of
$2.9B in 2036. At this peak (cons
$2.6B) and employing the highest 29% royalty rate, PTGX is slated to book
$831M in payments. This number assumes just 25% penetration of the PV population.
Mgmt. has historically laid out a
$1B-
$2B peak sales estimate, but we'd caution that this was set before the partners had their hands on the phase 3 data.
Indeed, these estimates have not changed since rusfertide subsequently delivered an impressive clinical response in 77% of patients (vs. 33% for placebo).
