Oct. 10 at 11:47 AM
Needham⬆️the PT on
$STOK to
$35 from
$22 and reiterated at a Buy rating after STOK presented new zorevuneren OLE data in Dravet Syndrome (DS) at the 54th Child Neurology Society (CNS) annual meeting yesterday. [
$BIIB ]
$JAZZ $UCBJY $UCBJF
Needham said in its note:
The new data showed
1) patients treated with zorevunersen had continued improvements in clinical outcomes through 3 years, and
2) an analysis of patients in the OLE who received a similar dosing regimen as the ongoing Ph3 trial continued to show improvements in the Vineland-3 (cognition & behavior) at 2 years vs. a DS natural history study.
This new data, along with the positive 3-year OLE data shared in early August (see our note here), has increased our confidence in the long-term efficacy & durability of zorevunersen and the potential for significant differentiation (disease modification) over SoC anti-seizure drugs for the treatment of DS. We are raising our PT to
$35 (was
$22).
