Wedbush Morning Call - May 26 2026 7:35AM

研报英文原文证据摘录

Wedbush Morning Call - May 26 2026 7:35AM

EWTX (Outperform): CIRRUS data arriving at opportune time. The recent ACACIA top-line readout provided de-risking for

EWTX's EDG-7500 in nHCM (link to note). We see CIRRUS data helping to better inform on EDG-7500's risk/benefit profile in

oHCM and nHCM. Showing similar efficacy as was observed in CIRRUS Parts B/C with avoidance of LVEF<50% and Afib<10%

would be a positive scenario for the CIRRUS Part D readout (2Q26). Link to CIRRUS preview.

Upcoming June/2Q26 Catalysts:

Source: Thomson Reuters; Company Reports; Wedbush Securities, Inc. Research

Edgewise Therapeutics (EWTX)

Rating: OUTPERFORM, 12-Month Price Target: $46.00, Price: $32.70

CIRRUS Preview: Why We Think This Remains A Positive Setup Into Data

The Wedbush View: Remain Outperform rated on EWTX. Upcoming Phase 2 CIRRUS Part D EDG-7500 data arrives in 2Q26.

Below, we review CIRRUS readout scenarios. Our CIRRUS base case assumes Part D replicates efficacy previously seen, with

no incidence of LVEF<50% and single-digit AFib rates (upside ~$45/sh). Upside to high-$50s/sh unlocks with clean safety and

better than anticipated efficacy, while we see downside risk to low-$20s/sh should efficacy wane and/or safety signals emerge.

Following the recent ACACIA data, we continue to see potential for EDG-7500 differentiation in nHCM on efficacy/safety. While

the data readout itself represents an important catalyst, we also see FDA feedback on the EDG-7500 Phase 3 design as an

underappreciated catalyst for EWTX in 2H26. Phase 3 design regulatory feedback could offer further potential upside if it is

suggestive of a label that avoids/limits ECHO-guided titrations and/or a REMS for EDG-7500. Pairing the setup with cash runway