Jul. 9 at 2:01 PM
Stifel reiterated
$RYTM Buy-
$94 and said Bivamelagon Data Look Very Solid and Meet/Exceed its Bar.
$LLY $VKTX $GPCR SRRK
$SLNO AARD ACAD
Stifel said in its note: "We're reiterating our Buy rating on
$RYTM on the back of positive ph2 bivamelagon data in Hypothalmic Obesity (HO).
Bottom line, the results: clearly show bivamelagon is a drug with efficacy that is in the ballpark of setmelanotide, thus offering compelling optionality for
$RYTM to advance development and extend the MC4R franchise IP from ~2034 to >2040.
As we discussed in our preview note, extending the duration of the franchise, in what are likely the peak revenue years to beyond 2040, implies substantial upside to our DCF, while also augmenting the strategic value of
$RYTM more broadly.
Stifel went on to say:
