Sep. 12 at 12:01 PM
H.C. Wainwright⬆️
$MAZE $50/said, Yesterday, Maze's Phase 1 HV data from the MZE782, a SLC6A19 small molecule inhibitor program, showed a robust PD signal, far exceeding JNT-517's PD benchmark (
$OTSKY; Not rated) in HVs, reinforcing best-in-class potential of '782 in PKU, in our opinion.
However, the major surprise was the data from an exploratory analysis showing a dose dependent,
reversible eGFR dip, indicating for the first time that MZE782 might play a therapeutic role in CKD similar to the SGLT2 inhibitors, in our opinion.
Based on the KOL feedback we think that the eGFR dip pattern is consistent with a benign hemodynamic mechanism seen in ACEi/ARB/SGLT2i but believe that Phase 2 must confirm this with injury biomarkers and link it to proteinuria/UACR reduction.
Therefore, given the compelling PoC data that now potentially supports efficacy in both PKU and CKD, we have increased our PoS assumptions for both the programs which increases our PT from
$34 to
$50.
$AGIO BMRN
$PTCT $TVTX