Therapeutic Snapshot: Highlighting PBH Market Into Avexitide's Pivotal Q3 Data

研报英文原文证据摘录

Therapeutic Snapshot: Highlighting PBH Market Into Avexitide's Pivotal Q3 Data

Global Research

May 12, 2026

Therapeutic Snapshot: Highlighting PBH Market Into■Biotechnology

Avexitide's Pivotal Q3 Data

Joseph Thome, Ph.D. THE TD COWEN INSIGHT

646 562 1308

Post-Bariatric Hypoglycemia (PBH) represents a meaningful, yet underdiagnosed market per our KOLs with no approved

joseph.thome@tdsecurities.com

therapeutics. Amylyx’s avexitide has demonstrated the ability to safely reduce hypoglycemic event rates in Ph. II. We

provide a deep dive on the landscape, available data, and market potential ahead of avexitide's pivotal Q3 data. We

conservatively model $1.5B in peak revenue. Buy.

Post-Bariatric Hypoglycemia Is A Severe Condition With No Approved Therapeutic Treatment Options

Post-bariatric hypoglycemia (PBH) is a complication of bariatric surgery (e.g. Roux-en-Y gastric bypass, sleeve

gastrectomy, etc.) in which rapid movement of food and nutrients from the stomach to the intestines after meals results in

episodes of significant hypoglycemia (low blood glucose levels). If not controlled, PBH can lead to serious medical issues

including seizures, loss of consciousness, or death.

Recent reports estimate that ~8% of the 2MM or more individuals who have undergone RYGB or sleeve gastrectomy

experience clinically relevant PBH requiring medical intervention. The obesity treatment landscape has changed over the

past several years as has the number of bariatric surgeries performed, per our KOL discussions. Despite this, the near and

long-term outlook suggests bariatric surgery will remain a key component of the weight loss paradigm for patients, and the

number of incident PBH cases is thus likely to grow, along with advances in diagnosis rates.

Avexitide's Ph.