Morning Summary - Jun 30 2026

研报英文原文证据摘录

Morning Summary - Jun 30 2026

t. We believe

the first external event (NVO's ZEUS data) will be most impactful for GLUE, given it would provide substantial unequivocal additional evidence in support

of the "inflammation hypothesis" of atherosclerosis. IL-6 is a downstream component of the NLRP3/inflammasome pathway and ZEUS is the key Phase 3

test of that hypothesis, which could reshape cardiovascular prevention guidelines, validating an entire new class of therapeutics. A key hypothesis has been

that NEK7/NLRP3 inhibitors may be mechanistically most compelling here, given upstream and potentially more physiologically "balanced" inhibition of this

pathway via orally delivered product candidates. We believe GLUE shares could double by YE26 in a bull-case scenario with potential for 50% downside in

a bear case. We've updated our GLUE model, incorporating more specific risk-adjusted estimates for MRT-8102 across Phase 2 target indications ASCVD,

gout and HS. Our PT moves to $35 (from $30). We're also elevating GLUE to a "top-pick" for 2H26.

COMPANY AND INDUSTRY UPDATES

PRAXIS PRECISION MEDICINES, INC. Buy

PRAX - Relutrigine PDUFA Extended Three Months to December 27,

2026; Delay Likely Workload Related PRAX $350.56 Price$800.00TargetYatin Suneja

212 518 9565, yatin.suneja@guggenheimpartners.com

Current Q Next Q Current FY Next FY

Eddie Hickman, Ph.D.

212 518 9904, eddie.hickman@guggenheimpartners.com $(4.11) $(4.40) $(16.70) $(13.38)

CLICK HERE TO ACCESS THIS REPORT Market Cap (M) Metric Mult Curr Yr. Mult Next Yr.

Published on June 30, 2026 $9,773 EPS ($) - -

Key Message: PRAX announced yesterday that the FDA extended the review period for its relutrigine NDA in SCN2A and SCN8A DEEs by three months,

pushing the PDUFA date from September 27, 2026 to December 27, 2026.