Jun. 11 at 5:52 PM
H.C. Wainwright⬇️
$GPCR's PT to
$70 (was
$100) and reiterated at Buy
$LLY $PFE AZN NVO VKTX
H.C. Wainwright said: For aleniglipron, tolerability stays the key differentiator on the 2.5mg start, but absolute nausea/vomiting is class-typical, so persistence, not Gl burden might be more important for commercial success. However, from landscape point of view, retatrutide's clean low-dose profile and Pfizer's once-monthly injectable creates a new bar in the same mid-BMI market the orals are chasing.
For a clear win, aleniglipron must prove efficacy durability above orforglipron and elecoglipron in a powered ITT population, low discontinuation on a faster titration, Gl burden below elecoglipron's, and substudy differentiation (body composition, SWITCH, T2D, cardiometabolic benefit) in the Phase 3.
Therefore, given the competitive pressure from the emerging landscape, we are revisiting our penetration assumptions, which lowers our PT from
$100 to
$70.
