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Edgewise Therapeutics' EDG-7500 Seen Entering 'Catalyst-Dense' Regulatory Period, Oppenheimer Says

MT Newswires Live07-09 23:17

Edgewise Therapeutics (EWTX) is entering a "catalyst-dense" period for EDG-7500, highlighted by an end-of-phase 2 FDA meeting in H2 and the planned start of a phase 3 study in Q4, Oppenheimer said in a Thursday note.

The company delivered a de-risking phase 2 readout, indicating that EDG-7500 has the potential to ease obstruction without weakening the heart muscle and could corner a share of the growing HCM market if approved.

In addition, Edgewise's $1.55 billion sale of Sevasemten and its muscular dystrophy portfolio in June is expected to keep the company fully funded for the planned phase 3 studies and through product commercialization, Oppenheimer said.

Oppenheimer initiated coverage of Edgewise Therapeutics with an outperform rating and a $51 price target.

Shares of Edgewise were up 2.7% in Thursday trading.

Price: 47.56, Change: +1.26, Percent Change: +2.72

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