Edgewise's EDG-7500 Mechanism Lends Confidence, RBC Says

MT Newswires Live09-23 23:41

Edgewise Therapeutics' (EWTX) EDG-7500 mechanism reveal accounts for strong clinical showing, lending confidence ahead of phase 3 trial design, RBC said in a Tuesday note.

Earlier, the company unveiled a differentiated mechanism of action of its cardiac sarcomere modulator EDG-7500.

The mechanism that targets the Regulatory Light Chain has shown in preclinical models to improve cardiac relaxation while preserving systolic function and cardiac reserve, Edgewise said.

"We think the mechanism makes sense of the differentiated clinical profile to date," RBC analysts said.

"While the stock is unlikely to move significantly today, we came away confident in EWTX's opportunity to differentiate in HCM from CMIs," they added. HCM refers to hypertrophic cardiomyopathy, and CMI to cardiac myosin inhibitors.

RBC maintained its outperform rating and $59 price target.

Price: 41.26, Change: -3.25, Percent Change: -7.30

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