May. 5 at 10:35 AM
Citizens reiterated
$NUVB Market Outperform;
$10, and said: The Ibtrozi launch is progressing in the right direction, with an increasing share of new prescriptions coming from the front-line ROS1+ NSCLC population.
$BMY $NUVL PFE RHHBY
Citizens added—Over the past three quarters, front-line new patients starts have increased, from 30% to over 50% of Ibtrozi scripts.
Based on updated pivotal TRUST-I/II data shared at AACR (our coverage here), with the median duration of response maturing to nearly 50 months, Ibtrozi has increased revenue-generating potential based on revenue stacking.
Management noted that revenue-stacking effects were first seen in 1Q26, and as more new starts come from front-line patients this should continue to increase quarter over quarter.
Management remains comfortable with the YE26 consensus.
We highlight the name, especially given the sell-off after the 4Q25 earnings report, as we are now seeing progress with the launch.
