EWTX - HCM KOL call on 5/26; addressing investor Qs following our Ph2 preview note; HCM data comparison charts

研报英文原文证据摘录

EWTX - HCM KOL call on 5/26; addressing investor Qs following our Ph2 preview note; HCM data comparison charts

ent paradigm from

Price (May 18, 2026) $31.72 surgical-first to medical-first for many obstructive patients.

52-Wk Range $38.01-$12.61

Market Cap ($M) $3,394 Truist Securities Host: Kripa Devarakonda, Biotech Analyst

Date/Time: May 26, 2026, 12:00 PM to 1:00 PM ET ADTV 718,077

Shares Out (M) 107 Registration Details: https://truist-tru-talks-with-hcm-kol-on-edg-7500-may-2026.open-

Short Interest Ratio/% Of Float 13.1% exchange.net/

Enterprise Value ($M) $2,894

Following our earlier preview note (full note link), we have fielded a few questions Cash & Equivalents ($M) $500 from investors and we address a few of those here :

EWTX stock set-up. EWTX is currently trading at ~$32/sh with a market capitalization of ~ 7 Page Document

$3.5B that reflects significant optionality but still trades at a discount to the peak valuations

of its peers, in our view. Cytokinetics' (CYTK, Buy) (Myqorzo/aficamten) has seen valuations

Reasons for this report fluctuate between $8B–$10B over the past two years, with latest post-ACACIA market cap

at nearly $10B. We believe EWTX stock price currently reflects ~$5/sh cash and ~$8-10/sh

✓ Data-Driven Analysis sevasemten BMD program. We believe EDG-7500/HCM reflects the remaining ~$15-$20/

sh. We believe that efficacy and safety data shown in Parts B & C were excellent, and we

think there is more room for share upside if Part D data, that reflects more patient numbers

and longer treatment durations, confirm/exceed the efficacy & safety seen in Parts B/C.

We also believe that Part D data is likely to match or exceed Parts B&C efficacy & safety

given the longer treatment duration in Part D (12-weeks vs. 4-weeks) and tighter screening