Oct. 17 at 5:34 PM
$SNDX
It's disappointing the EMA recommended not approving Rezurock in the EU. The EMA believes its data did not show any clinical benefit. All the same, total Q1 2025 Rezurock sales were
$131MM of which
$9 came from the EU (
$8MM came from ROW). This hurts for Sanofi but is by no means catastrophic.
Though unrelated to efficacy by itself, Niktimvo has a completely different MOA than Rezurock. Put simpler, they target the same indication but are otherwise not like drugs.
Niktimvo 1st year US sales are otherwise on track to double Rezurock's 1st year sales forecast by Kadmon & provided Sanofi when acquired for
$1.9B.
SNDX investors should be reminded
$RPRX, after we assume was considerable due diligence, invested
$350MM for a 13.8% share of Niktimvo's US sales (roughly a
$2.6B valuation as a royalty).
This is not investment advice. SNDX has a 10/25/25 PDUFA for its flagship Revuforj in mNPM1 leukemias. A CRL could adversely affect valuation
