Red Light or Green Light? Web Traffic Signals For Our Comm'l SMID Caps

研报英文原文证据摘录

Red Light or Green Light? Web Traffic Signals For Our Comm'l SMID Caps

USA | Biotechnology EquityJuneResearch22, 2026

Red Light or Green Light? Web Traffic Signals

For Our Comm'l SMID Caps

We looked at web traffic data for various commercial launch stories within our

coverage Overall, the data points to encouraging DTC and launch momentum

across most names, w/ interesting trends on websites dedicated to access. We

think (+) for TARS, INDV, COLL, and ARDX. Difficult to interpret for PHAT, RYTM,

and CRNX.

Big Picture: We tracked web traffic across our coverage in Q2:26 and saw several encouraging

signals tied to DTC and recent launches. (1) TARS: Total Xdemvy.com traffic is directionally down

YTD, but "How to Get Xdemvy" clicks are trending higher, a potentially cleaner read on patient

demand. (2) INDV: Sublocade DTC is showing up in the data, with "Find a Treatment Provider"

visits up +150% in Q1:26 vs pre-DTC, supporting our view guidance gets revised higher. (3) PHAT:

Voquezna.com traffic is materially down, as mgmt pulled back from last year's DTC, though HCP

site engagement is holding up. (4) COLL: Jornaypm.com web traffic is up +8% qoq in Q1:26,

with Q2:26 on pace to exceed Q1. Azstarys sites are generally low due to lack of commercial

focus by Corium, but Jornay could be a leading indicator for how Azstarys eventually look like. (5)

RYTM: Imcivree.com Q2:26 traffic is growing sequentially vs Q1:26 from HO approval. (6) CRNX:

Palsonify.com web traffic is picking back up in Q2:26. (7) ARDX: Ibsrela.com web traffic is trending

higher, and Q2:26 is already tracking ahead of Q1, aligned with mgmt's plans to lean further into

DTC through 2026.

Total website traffic to Xdemvy.com has been directionally down YTD, as well as for the DB

quiz.