The analysts, led by Edward Tenthoff, singled out Vertex Pharmaceuticals Incorporated VRTX , Novavax, Inc. NVAX , Alnylam Pharmaceuticals, Inc. ALNY along with Arrowhead Research Corp ARWR being a smaller cap name.
Vertex: ORKAMBI Launch
Tenthoff noted that Vertex holds more than $1 billion in cash, while its total market cap stands at $29.2 billion. The analyst is expecting a "dramatic increase" in treatable cystic fibrosis patients with newly approved ORKAMBI, which will help drive revenue growth and a return to profitability in the near-term.Novovax: Phase II Maternal RSV Data
Tenthoff pointed out that shares of Novovax dipped 27.5 percent since August 17, but he has "increased confidence" in the company following positive Phase II data in its RSV-F in elderly subjects.Novovax also ended the quarter with $315 million in cash, which can fund "at least one" pivotal RSV trial as the company plans to enroll 8-10,000 elderly subjects by year-end.
Alnylam: TTR OLE Data
Shares of Alnylam lost 14 percent since August 17, trading at a $7.9 billion market cap, while the company ended the recent quarter with $1.4 billion in cash and expects to end the year with more than $1.2 billion.According to the analyst, "all eyes" be on the patisiran and revusiran Phase II in OLE updates (expected in the fourth quarter), especially revusiran for familial amyloidotic cardiomyopathy (FAC) following three drop-outs due to rash/injection site reaction.
Arrowhead: Phase IIA HEPARC Data
Finally, Arrowhead holds $112 million in cash at the end of the third quarter and trades at a $298 million market cap.Arrowhead will update Phase IIa HEPARC 2001 data at an R&D Day in September, which will include single administration 3.0 and 4.0mg/kg ARC-520 cohorts. The analyst noted he is not anticipating deeper S-antigen suppression than has been seen to date; he ultimately believes repeat ARC-520 dosing will be required to achieve the goal of 1.0 log reduction to induce seroconversion.
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