Oct. 20 at 8:20 PM
Mizuho🏁
$RVMD Outperform/
$90
$ZLAB AMGN BMY VSTM
$IMRX
Mizuho in its initiation report said:
We see RVMD's portfolio of RAS(ON) inhibitors as positioned to play significant roles in PDAC, NSCLC and CRC.
Specifically, we believe daraxonrasib in PDAC alone and additional near-term de-risking can drive meaningful upside.
First, we expect future 1L PDAC updates and insights into PFS/OS to mature favorably and drive greater conviction around the Phase III RASolute 303 study.
Second, scenario modeling of the Phase III RAsolute 302 trial in 2L PDAC points to a high probability of success, and we believe control arm overperformance, daraxonrasib underperformance and high drop out are all needed to put the study at risk.
Altogether, the portfolio could generate
$10B+ in risk-adjusted 2035 WW sales.
We expect positive Phase III 2L PDAC data in 2026, and additional earlier-stage updates to drive outperformance over the next 12 months.
