Pricing Projections And Market Potential For Ionis' Newly Approved Nerve Damage Drug - Analyst Sees Over $700M Potential
Portfolio Pulse from Vandana Singh
The FDA approved AstraZeneca and Ionis Pharmaceuticals' Wainua for polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults. William Blair projects over $700 million in peak sales for Wainua and maintains an Outperform rating for Ionis, considering it a top pick for 2024. The analyst expects Wainua's price to match Alnylam's Amvuttra at around $463,500 per year, with a net price projection of $291,000. The ATTR-PN market is seen as large enough for multiple competitors, with potential indication expansion being a key commercial opportunity. Ionis shares rose 5.30% to $51.72.
December 22, 2023 | 5:04 pm
News sentiment analysis
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NEUTRAL IMPACT
Alnylam Pharmaceuticals' Amvuttra pricing may be matched by Ionis' newly approved Wainua. Alnylam's HELIOS B trial results in 2024 could also impact Ionis' positioning.
While Alnylam's Amvuttra pricing sets a benchmark that Wainua may follow, the direct impact on Alnylam's stock is uncertain. The outcome of Alnylam's HELIOS B trial could indirectly affect Ionis' market position, but the short-term impact on Alnylam's stock is neutral.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
AstraZeneca, in partnership with Ionis, received FDA approval for Wainua, a drug for polyneuropathy. This approval could positively impact AstraZeneca's portfolio and revenue.
FDA approval of a new drug typically leads to positive market sentiment and can increase revenue, which is likely to have a favorable impact on AstraZeneca's stock in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Ionis Pharmaceuticals' stock rose 5.30% after FDA approval of Wainua. William Blair projects over $700 million in peak sales and maintains an Outperform rating, naming Ionis a top pick for 2024.
The FDA approval of Wainua and the positive sales projection by William Blair are significant catalysts for Ionis' stock price, as reflected by the immediate 5.30% increase. The Outperform rating and the status as a top pick for 2024 further reinforce the positive outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100