PHVS: Highlights from the RBC Healthcare Conference

研报英文原文证据摘录

PHVS: Highlights from the RBC Healthcare Conference

lerability

issues or breakthrough attacks, icatibant pts for whom deucrictibant offers the same MoA but with oral convenience, and

Ekterly pts who could benefit from single-dose durability and potentially faster onset. C1 replacement pts were also flagged as

an opportunity, as deucrictibant acts downstream of the bradykinin cascade and can address pts regardless of where excess

bradykinin originates.

• On the XR (prophylaxis) program, the company is looking for the ph.III program to recapitulate the strong efficacy demonstrated

in the prior ph.II (~85% attack reduction). Despite the utilization of the XR formulation vs. prior IR BID, we think that study

conduct and overlapping sites with RAPIDe-3 (90% of the same sites in CHAPTER-3) provide a good chance of replicating these

data. Still, our survey data and KOL feedback has indicated that there could be additional buffer as a profile providing at least

70-75% attack rate reductions could be viewed highly favorably for prophylaxis.

• On the competitive landscape, the company noted that their market research suggests that patient preference for oral

administration only reached parity with long acting injectables dosed at least every 6 months, and so remains confident that

they could capture significant market share even if other LAIs come to market.

• The company also highlighted the potential commercial synergies that they might have with an oral drug covering both on-

demand and prophy – we think a potentially meaningful commercial simplification that could drive adoption across both

products.

All values in USD unless otherwise noted. Priced as of prior trading day's market close, EST (unless otherwise noted).