Aug. 19 at 7:15 PM
Citizens reiterated
$LRMR Market Outperform-
$18 and said that there is not a "hit or miss" scenario in this readout as we would have learned by now of any major safety issue, and we have already seen meaningful skin frataxin increases at a lower dose.
$BIIB $LXEO $PTCT
Citizens added:
This data will answer some key questions for investors though, and should give more comfort in nomlabofusp's approvability.
FDA has relayed to
$LRMR that the company has "pretty much done all the work" for approval, with the key gating factors being collecting enough safety follow-up (should be done early next year) and starting its confirmatory Phase 3 trial (starting soon).
$LRMR is trading at an ~
$130M EV, which drastically underappreciates nomlabofusp's risk/reward at this juncture of development, especially when considering it addresses the root cause of FA and Skyclarys is poised for ~
$500M in 2025 WW sales despite its modest treatment benefit.
