Dec. 23 at 6:21 PM
$PTN weakness in SP just due to retail tax loss selling IMO. Remains exciting story w Ph1 hypothalamic obesity HO data next year. Could be a next gen HO asset with potentially better safety profile and more convenient (oral, weekly SQ vs setmelanotide (RYTM,
$7.5bn cap) who btw has a PDUFA date in March which could shine light on the MC4R mechanism. Other immediate catalysts likely are expecting IND in 1H. I don’t think the warrants come into play until then and hopefully at much higher SP levels… look It’s speculative for sure but this MCR pathway imo is derisked given PTN data and RYTM data so if PTN’s ph1 readout results are positive next year then re-rating of valuation warranted as a must own. Ph1 assets in in hot segment like obesity related diseases could fetch 300-500M or more in takeouts and they have additional pipeline here. MTSR, RTM, SLNO, VKTX all successful clinical stage peer examples to aspire to be. Could be interesting ride. NFA.
