EWTX: EDG-7500 Data a Win, Volatility and Market Reaction Seem Overdone

研报英文原文证据摘录

EWTX: EDG-7500 Data a Win, Volatility and Market Reaction Seem Overdone

EQUITY RESEARCH QUICK TAKE

RBC Capital Markets, LLC

Leonid Timashev, Ph.D. (Analyst)

June 16, 2026

Edgewise Therapeutics, Inc.

EDG-7500 Data a Win, Volatility and Market Reaction Seem Overdone

NASDAQ: EWTX | USD 35.21 | Outperform | Speculative Risk | Price Target USD 48.00

Sentiment: Positive

Today, EWTX reported positive topline data from their 12 week Ph II CIRRUS-HCM trial which has been a major focus of late, where

we saw EDG-7500 deliver again on its impressive safety profile and compelling efficacy.

We highlight the safety data especially, where the drug saw no relationship between LVEF drops and dosing, continuing the

demonstration of EDG-7500's tolerability edge over CMIs in the space out to 12 weeks. Further, we note that there were 2 (3.8%)

new onset atrial fibrillation events; both deemed unrelated to study drug by the investigator. We believe that the investor bar

for afib here was around 5%, and we think EWTX coming in well below this is a strongly encouraging sign for the drug's safety

profile as follow-on continues.

On efficacy, we think there may be a mixture of responses from investors, as our discussions on the subject have varied. In our view,

investors have been principally interested in KCCQ scores. '7500 showed a KCCQ mean change of 13pts in nHCM, while we think

some investors may have been hoping for a result in the high teens or potentially above 20pts. We emphasize here that CYTK's afi

at 36 wks showed an effect of 11.4pts in nHCM, while mava at 48 weeks showed 13.1 pts. '7500 also saw a 65% mean reduction

in NT-proBNP in nHCM patients, with 88% of patients achieving normalization or a ≥50% reduction from baseline. Overall, given