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
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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
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