May. 20 at 12:47 PM
Piper Sandler reiterated
$SLNO Overweight-
$145, said "Given high investor interest in
$SLNO's VYKAT XR, we hosted mgmt for a fireside chat to discuss PWS launch progression and expectations heading into future quarters following strong 1Q25 earnings."
$AARD $RYTM $ACAD $HRMY
Piper Sandler additionally said, "Importantly, we walked away continuing to be bullish where VYKAT XR is seemingly positioned for a successful commercial launch with blockbuster potential given the high unmet need with ~10K addressable US PWS patients. In our note we discuss the PWS market opportunity, 2Q25 EMA filing,
$SLNO's comprehensive commercialization plan, market access, physician/payer outreach, and the competitive landscape (deep dive).
Moreover, we emphasize VYKAT XR is positioned to become SoC for PWS patients with hyperphagia with a clean label, favorable pricing, and a defined market. Thus, we remain bullish and view
$SLNO as a key name to own as VYKAT XR's launch continues to progress."
