Post by luxetvox on Nov 14, 2022 13:56:40 GMT
Ascendis Falls on Growth Study as Biomarin Gains: Street Wrap
2022-11-14 13:34:45.806 GMT
By Bre Bradham
(Bloomberg) -- Ascendis Pharma A/S slides 11% in premarket
trading after reporting data on its achondroplasia therapy in
children, which met the main goal but analysts are debating its
competitiveness to BioMarin Pharmaceutical’s approved therapy
Voxzogo.
* BMRN gains as much as 8.3% in premarket trading
ANALYST COMMENTARY
* Cowen (market perform rating on ASND): Analyst Yaron Werber
says the results look “competitive but not superior” to
BioMarin’s therapy, while noting the “data is difficult to
interpret apples-to-apples given the lack of baseline
[annualized height velocity] and the difference in endpoints”
** “The benefit appears primarily driven by 2-5-year-olds vs
5-10-year-olds, which is surprising as Voxzogo’s data in younger
patients has been lackluster and its data in 5-11-year-olds was
robust,” Werber writes
* Truist Securities (buy rating on BMRN): Analyst Robyn
Karnauskas says the competitor’s data “falls short” of key
opinion leader’s bar and expects “BMRN’s dominance in
achondroplasia is likely to continue”
* Stifel (buy rating on BMRN): Analyst Paul Matteis says the
fear going into the data was that ASND’s drug would show better
efficacy
** “The Voxzogo launch has been one of the better orphan drug
commercial rollouts ever, and we think the ASND data should now
enable BMRN shares to price-in full credit for the asset’s
success,” Matteis writes
2022-11-14 13:34:45.806 GMT
By Bre Bradham
(Bloomberg) -- Ascendis Pharma A/S slides 11% in premarket
trading after reporting data on its achondroplasia therapy in
children, which met the main goal but analysts are debating its
competitiveness to BioMarin Pharmaceutical’s approved therapy
Voxzogo.
* BMRN gains as much as 8.3% in premarket trading
ANALYST COMMENTARY
* Cowen (market perform rating on ASND): Analyst Yaron Werber
says the results look “competitive but not superior” to
BioMarin’s therapy, while noting the “data is difficult to
interpret apples-to-apples given the lack of baseline
[annualized height velocity] and the difference in endpoints”
** “The benefit appears primarily driven by 2-5-year-olds vs
5-10-year-olds, which is surprising as Voxzogo’s data in younger
patients has been lackluster and its data in 5-11-year-olds was
robust,” Werber writes
* Truist Securities (buy rating on BMRN): Analyst Robyn
Karnauskas says the competitor’s data “falls short” of key
opinion leader’s bar and expects “BMRN’s dominance in
achondroplasia is likely to continue”
* Stifel (buy rating on BMRN): Analyst Paul Matteis says the
fear going into the data was that ASND’s drug would show better
efficacy
** “The Voxzogo launch has been one of the better orphan drug
commercial rollouts ever, and we think the ASND data should now
enable BMRN shares to price-in full credit for the asset’s
success,” Matteis writes