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It’s hard to fathom what is going on with Helen. If I remember correctly, she started promising 3 new deals in early’23!!! It’s kind of risky for a CEO to lie. Is she delusional? What serious potential partners would spend 10-12 months “discussing” a simple licensing deal? I find it absurd. And what about the board? Can’t they see the horrible stock performance? We are barely 20% up from Feb ‘21 in spite of Darzalex Faspro’s tremendous growth. Are they all happy to rest on their laurels, bury their heads in the sand, and cash in their stock options? How long has it been since we had a Chief Medical Officer? Do they really believe that they have no competition, “they are the only game in town”, “everyone else is really early”?
Someone should let them know that stocks are about the future. I am not sure what else Alteogen has in the pipeline but SC Keytruda has not been approved, and yet their market cap is almost 14 billion dollars. The stock is up over 350% from a year ago, 3,390% from 5 years ago.
JPM: “ Despite raising our price target to reflect more value for future product royalties, we struggle to find a strong upside case from current levels that does not rely on giving even more credit. With the stock now at $62/sh, we are moving to the sidelines and lowering our rating to reflect HALO trading at a level we see as fully valued. What could get us more constructive from here? 1) the announcement of partnership(s) with attractive economics, ideally from large biopharma companies that reinforce the long-term value of the Enhanze platform and 2) more visibility into the performance of Wave 4 and Wave 5 products. Our recent conversations with the company suggest that there are up to 20 open slots across existing partners that have yet to be nominated for development, and that HALO is in “broad-based” discussions with pharma and biotech companies for new deals. We believe the bigger the partner, the more it will reinforce the value of HALO’s platform as we edge closer to the Enhanze LOE. Bigger picture, with HALO stock blowing past even our updated, higher valuation, we struggle with the case for further upside relative to other stocks in our coverage and would revisit this based on changes in the story and/or stock price.”
As I feared, JPM downgraded to neutral even though they raised their Dec. ‘25 PT from $52 to $57. They are moving to the sidelines because they feel it is more than fully valued. Basically, they want to see the “broad-based” discussions turn into new partnerships. The bigger the partner, the more it will validate the Enhanze platform, a hint that another partnership with a tiny company like ABOS will not cause them to upgrade. It’s not exactly encouraging that their Dec. ‘25 is lower than the Nov ‘22 high.
Okay, thanks.
Okay, thanks.
Okay, thanks. I forgot about that and I guess Tecentriq is PD- L1 so they were allowed to use it.
Is it easy for Korean investors to buy US stocks? I have read that it is almost impossible for American investors to invest in Korean stocks.
Do you have any idea why Merck chose Alteogen instead of Halo? Have you read any analyst reports that comment on this?
The assignee is Lindy Biosciences.
I don't have an educated opinion. Obviously, the market thinks it's a long shot. I think their biggest problem is that their phase 2/3 study has a 2031/01 estimated completion date and they estimate they will enroll 2040 patients. So they have ways to go.
Still, I bought some shares for several reasons (in no particular order):
1. I like to follow the companies Halo partners with;
2. At $2.91, its current price, the company has a market cap of about $175M. As of Jun 30, 2024 they had $281M of cash, which should support their activities into the first half of 2027. It's reasonable to expect they will release interim results sooner. There have been opportunities to buy the stock as low as $1.81. It's a very high risk but potentially high reward stock;
3. RA Capital, a good life sciences fund, has bought shares at much higher prices and has not sold;
4. I recently discovered I have the ApoE gene. Actually, it's worse. My wife reminded me that we already knew that from the 23andMe test some time ago and I forgot!
That might have been the rationale behind the deal with ABOS. I guess the downside is that the terms won’t be as good and it makes sense only if you are able to sign more deals.
There seems to be quite a bit of competition brewing: Alteogen’s deal with Merck, Elektrofi’s partnerships with Janssen and Lilly, hydrogel technology, etc.
Interesting articles. Thank you. But why do you say "...certainly feeds the idea that Elekrofi would be of interest to HALO..."?
Three of the authors of the first article co-founded Recobia Therapeutics, a potential competitor for Halo. They are not a clinical stage company yet, though.
"Currently, one clinical solution to address these issues is co-formulating the mAbs with the rHuPH20 drug delivery technology developed by Halozyme. This technology temporarily reduces tissue backpressure in SC tissue, allowing for increased injection volumes, improved pharmacokinetics profiles, and increased bioavailability of co-administered compounds. This solution remains the only one registered for clinical routine use. Due to the convention of exclusivity, numerous mAbs, including biosimilars, are not available in association with this technology, triggering the need for alternative options. Regarding the enzymatic approach, the window of activity through depolymerization of hyaluronic acid, which enables a local space, is limited and restricts the possibility of prolonged release. On the other hand, hydrogel technology offers a tunable formulation, supporting the development of a delayed administration strategy between two injections, appearing as an appealing option."
"Conflict of Interest
Detappe and Pivot have a patent in the field of hydrogels for subcutaneous administration of mAbs. Detappe, Boudali, and Pivot are co-founder of Recobia Therapeutics which seeks to translate the hydrogel formulation to the clinic."
https://recobiatx.com
This is good news. They added $2B to their estimates. From JPM:
"Argenx
PT raised to €570, on higher Vyvgart ests. and adding empa. Expect outperformance as Vyvgart beats consensus in 2025, driven by CIDP uptake
By James D Gordon AC, Richard Vosser, Zain Ebrahim, John Priestner, Sophia Graeff Buhl Nielsen
Click here for the full document and disclaimers
Raising Dec-25 PT 20% to €570 (prev. Jun-25 €470), reiterate OW. We see Vyvgart beating cons. expectations in 2025, driven by CIDP launch, and we also see teens profitability delivered in 2025. We update for: (1.) strong Q2 results (first take here); (2.) Vyvgart CIDP approval / better pricing (note here); and (3.) recent R&D event, incl. empa PII data/dev plans (takeaways here). We raise Vyvgart MG peak sales from $3bn to $4bn, raise Vyvgart CIDP peak from $3bn to $4bn, and add in 50% POS of empa at c.$1bn peak in MMN. Our NPV per share is increased c.20%, to c.€570. Our updated Revenue forecasts are now broadly inline with BBG cons. for 2024, 13% ahead in 2025, and we see further share price outperformance driven by Vyvgart upgrades, as a result of a strong CIDP launch next year. We also see the company delivering ‘25 Operating profitability (JPMe $525m vs. cons. $361m). On near-term newsflow, we expect competitor Amgen’s* Uplinza PIII MG trial to have positive data at AANEM (Oct 15-18), but we expect most use to be post Vyvgart, and hence not a significant threat. We also see potential upside should Argenx’s Vyvgart Myositis PII trial progress to PIII by year end. Overall, with further Vyvgart upgrades to come in 2025, along with the company reaching strong operating profitability, we expect continued outperformance, and we reiterate our OW.
According to yahoo finance, the average analyst PT is $59.89, so another concern I have is that if there isn't some kind of positive development behind this move, we may get some downgrades. For instance, JPM is "overweight" with a Dec 25 $52 PT. It's not like they are not aware of their upcoming catalysts, halo's fundamentals, CAGR, PE, etc.
I haven't sold any shares but I have way too much so I am kind of forced to start selling in a way at some point. If I had more confidence in management, I might hold longer. But there have been too many warning signs and I think it makes sense to sell at least a portion of your shares if there is no new deal or some type of unexpected good news in the next few months. If the US patent extension is granted, that may give us a little more time.
In spite of the rally, we are just a few dollars above where we were in November 2022. And if you consider how much inflation we've had... Also, one should take into account opportunity cost. There have been tremendous opportunities in biotech and the market in general in the past two years.
It makes sense.
Holding or selling?
Halo is still getting about 75% of its royalties from Darzalex FasPro. According to Helen's projections, revenue growth and royalty growth slow down from 29% (royalties) and 20% (revenue) in 2027 to 5% for both in 2028. Without the EU patent extension, of course the slowdown would have been worse. If granted, the US patent extension will help until 2029 but there is no way the stock can double or appreciate significantly in the next few years without addressing the uncertainty about growth beyond 2029. The analysts at Goldman Sachs, Leerink and JPM may have been too conservative but they are not complete idiots and they have done their homework. The only way out is new deals or a significant acquisition.
I am shocked that Helen and the board are not addressing this more forcefully and with more of a sense of urgency. The deals that are bearing fruit now were signed a long, long time ago! The least they could do is stop the stock buybacks and boost their cash reserves. The longer we go without new deals, the more crucial a transformative acquisition will be.
Not loving the fact that Helen and Posard sold about 30,000 shares each in the past couple of days. I believe Helen had not sold any shares in the past 12 months. Hopefully, they don't know something we don't.
Have you noticed that institutions sold more shares than they bought in the last quarter? I am guessing that this is because halo is owned mostly in index funds but I am really not sure.
Active Positions
Active Positions Holders Shares
Increased Positions 250 7,528,285
Decreased Positions 193 9,051,711
Held Positions 56 106,439,184
Total Institutional Shares 499 123,019,180
https://www.nasdaq.com/market-activity/stocks/halo/institutional-holdings
Are you referring to this or something even more recent?
https://www.chartmill.com/news/HALO/Chartmill-21572-Is-NASDAQ-HALO-on-the-Verge-of-a-Major-Breakout-as-a-Strong-Growth-Stock#google_vignette
Are you sure Alteogen's market cap is 1 billion dollars? According to yahoo finance their market cap is about 16 trillion won, which I think is over 11 billion dollars. If you are right, Merck and Alteogen have fooled an awful lot of investors.
https://finance.yahoo.com/quote/196170.KQ/
Huonslab appears to be real competition but, hopefully, still far behind Halo. The real threat is Alteogen, especially if and when SC Keytruda is approved. The market certainly likes them. Their stock is up 537% from a year ago, and over 4,000% from 5 years ago. I sure wish Halo had acquired Alteogen when perhaps they had a chance.
I read the earnings call transcript and I have to agree there was no real news. It's obviously great that some good Enhanze products and new indications are getting approved but we knew that and they are the result of partnerships signed a long, long time ago (ARGX in 2019, BMY in 2017, JNJ in 2014).
I thought it was interesting that Helen said the "conversations" they are having are often because they reach out to potential new partners, not the other way around. But isn't that another indication that demand is not what it used to be? I have given Helen the benefit of the doubt but it is starting to stretch believability that 10 companies that have a concrete, serious interest in Enhanze would spend months in "conversations" with Halo and then more months "discussing terms", which she made clear is the stage before negotiations begin. Signing a simple licensing agreement, presumably with terms similar to the deals they started making about two decades ago, should not take longer than negotiating a peace agreement in the Middle East.
And yet, I am still hopeful and holding.
I am not sure if others have raised their PTs as well but MS raised their PT from $59 to $64, TD Cowen from $59 to $65, Leerink Partners from $53 to $56.
JPM's is still $52, though they see potential upside from the Enhanze US patent extension, new deals, and Wave 4 royalties, which so far are excluded from guidance although risk-adjusted collaboration milestones are included. Royalties were $125M ($122.1M in Q4 '23, $121M in Q1 '24).
"2Q beat on top- and bottom-line with reiterated guidance. Total revs of $231mm came above JPMe/cons of $191mm/$204mm, with the upside primarily driven by product sales of $79mm thanks to a pull forward of API demand (vs. JPMe/cons of $58mm/$59mm) and milestone revenue of $28mm (vs. JPMe/cons $13mm/$19mm) as two milestones hit sooner than expected. This drove a better than expected non-GAAP NI of $118mm vs. JPMe/cons of $87mm/$91mm. Mgmt noted that in 2Q, Faspro saw 94% conversion in the US and >80% in ex-US regions. Phesgo also contributed to royalty revenue with 41% overall conversion and mgmt mentioned that partner Roche expects conversion to reach 50% by 2026. Mgmt expects that in 3Q, product revenue and milestone revenue will be relatively flat from 2Q, but that royalty revenue will see a step-up as the prior royalty rate is re-instated for Faspro in Europe (international sales outside of Europe will remain at the stepped-down in royalty rate). Mgmt is confident in the royalty cadence and reiterated that JNJ has agreed to the reinstatement of the prior royalty rate in Europe."
No, I don’t. It’s part of their research for clients.
From JPM today:
"While our model already reflected the extended Enhanze IP protection in Europe, we now reflect this upside largely kicking in for 3Q and model 2Q royalties roughly flat with 1Q due to a gap in European IP leaving 2Q European Faspro royalties at the temporarily stepped-down rate. Updating our estimates. We are updating model to reflect recent operating results from HALO’s partners and to align with HALO’s guidance for 2Q royalty revenue similar to 1Q. The net result is lower revenue in 2024+ (1-6% change, depending on the year). Our adj EBITDA and EPS estimates also edge lower. We are establishing a YE25 price target of $52/share, $1 lower than our prior YE24 price target."
This is rather confusing: They "like the Halo story" and they are overweight but their Dec-25 PT is $1 lower than their Dec-24 PT. Goldman Sachs has a PT of $49. Let's hope they raise their PTs tomorrow, though a positive surprise seems unlikely if the stepped-down rate lasted the whole quarter.
Agreed, but I meant expected good news like the Darzalex FasPro label expansion yesterday.
I also think if they decided to focus more on innovation and investing in the future of the company, like hiring a Chief Medical Officer, ending the stock buybacks, etc., we should see a bump.
The selling pressure at $56 is a bit stronger than I thought. Expected good news doesn't seem enough to cause the stock to break through.
An analyst comments on SC Ocrevus as it relates to TGTX:
TG Therapeutics (TGTX; OW)
Roche reported 2Q24 Ocrevus sales in the US of ~$1.36B (~$1.9B WW), reflecting ~6% y/y and ~1% q/q growth. Of likely greater import to TGTX however was the commentary on Ocrevus SC, recently approved in the EU and set for FDA action in the near-term (9/13 PDUFA). To date, our view of the MS CD20 market (much of which was informed by prior Roche commentary) has been that the IV and SC formulations serve generally distinct patient segments, with the expectation that Ocrevus SC will be more of a challenge to Kesimpta (of note, NVS reported sales of $555M in the US, +49% y/y and +20% q/q) and likely will have little impact to the growth outlook for IV Briumvi. Further complementing this view was Roche’s expectation of Ocrevus SC “[representing] an incremental 2bn [CHF] in sales opportunity” to its present ~7bn [CHF] base IV franchise. That said, the added note that Ocrevus SC “isn’t just going to be about cannibalizing [the] IV business” leaves a lot up to interpretation, in our view, and may belie plans to target infusion centers/IDNs in addition to competing for the at-home market. That said, we see the IDN Ocrevus IV to SC transition being fairly slow, with Briumvi being able to sustain share growth within the IV CD20 class given its modest base. Nevertheless, TG developing its own SC formulation looks increasingly important to defending it long-term positioning, one we expect to be of increasing Street focus into 2H24.
Some of the positive comments, especially about Ocrevus ('We expect that Ocrevus subcut represents an incremental CHF2 billion in sales opportunity and we expect this to be increasingly visible in the coming quarters as we are already starting to see some strong pickup in our very early launch countries in the EU.'), may be behind the strong price action lately. From the Roche earnings call:
"Our key brands Vabysmo, Phesgo, Ocrevus, Polivy, Evrysdi, Hemlibra, they delivered an additional almost CHF2 billion in the first half of the year.
....
Phesgo continues to grow very impressively....I want to touch quickly on Tecentriq here, if you sort of scoot down to the bottom part of the chart. So you can see here that the decline in Tecentriq is actually being more than made up for by the growth in international and in Europe. Going forward, we expect Tecentriq to grow in a low-single digit range as we see sort of more increased competition as we begin to reach peak in some of our key indications like HCC and small cell. While we're on the topic of Tecentriq, I'll also mention our subcu formulation, we are seeing good uptake following the EU approval, especially in the UK, where the conversion rate has already reached 32% and we are expecting EU approval -- I'm sorry U.S. approval later this year.
...and Phesgo growing year-to-date by 60%, that strong growth momentum for Phesgo just continues. The global conversion rate currently stands at 41%. You may be looking at that and saying well that looks the same as we saw in Q1 and that is correct. In Q2, we added another five launch countries to the calculation of the global conversion rate, so that's why the rate remains stable. However, if you actually look at the rates in earlier launch countries, we do continue to see that conversion increase. A great example is the U.S., where we are up from 24% percent in Q1 to 26% in Q2. We also continue to see an overall further penetration in HER2 positive breast cancer in general. So if you take Phesgo and Perjeta together, and this bodes well for a scenario in which you see more than 50% of Perjeta sales being converted to Phesgo by 2026.
....
I will just quickly touch here on Lunsumio and the fact that we are excited about the positive phase, the positive data for subcutaneous formulation and third-line follicular lymphoma. The subcu formulation has all the benefits of the already available IV formulation, including no need for hospitalization, fixed treatment duration, but on top of the convenience of administration, it also seems to require less steroid use.
We plan to file Lunsumio subcut in the second half of 2024 with global regulators. (I haven't really looked into this but I am assuming Halo is not involved and I wonder if any other company is.)
Moving on to neurology. Our neurology franchise achieved CHF4.6 billion in sales for the first half, representing an impressive 13% growth. Ocrevus' strong growth momentum continues at 8%, driven by all regions. Not only is Ocrevus the market leader in the U.S. and the EU, but it has also reached a milestone of 1 million patient years of cumulative exposure. Furthermore, our six-month subcutaneous formulation has received EU approval and U.S.
PDUFA is set for the 12th of September. Again, this is 2 times per year, 10 minutes to treat your MS. We expect that Ocrevus subcut represents an incremental CHF2 billion in sales opportunity and we expect this to be increasingly visible in the coming quarters as we are already starting to see some strong pickup in our very early launch countries in the EU.
.....
And again, we are very much focused on the conversion into Phesgo, which provides a lot of stickiness and that we would fully expect Phesgo conversion to be above 50% in many markets.
Bruno Eschli
Okay. Then we move on. The next one would be Simon Baker of Redburn. Simon?
Simon Baker
Thanks very much, Bruno, for taking my questions. Two if I may please. Firstly, Teresa, you mentioned on Tecentriq subcutaneous, the strong reception that's received in the UK. The other strongly received subcutaneous formulation in the UK recently has been Ocrevus, according to the media, there have been suggestions that there is very considerable demand for Ocrevus subcut. So I was just wondering if you could give us an idea of how generalizable that UK experience is? I know the UK has a particular passion for subcut formulations. And what does this mean for Ocrevus subcutaneous beyond the UK, across the world? And do you see maybe the US, ex-US sales split, balancing up between now that we get to a subcut formulation?...
Teresa Graham
Absolutely. And when we look -- so it's a great question on Tecentriq subcut. So I think that in terms of the UK experience, we saw great uptake with Phesgo. We've seen strong uptake with Tecentriq subcut. I think that is quite generalizable for the UK market. I think anything that removes patients from having to go into the system and allows them to go home or to get a faster infusion or a faster injection, that actually frees up chair time and frees up office time, those are going to be very attractive to the UK system, and frankly, attractive to any system that's under financial pressure, which is most global healthcare systems around the world. So I think this is why we are again, really doubling down on devices going forward.
In terms of the Ocrevus subcut, I do believe that bringing the subcut formulation to Europe and to the rest of the world will provide additional opportunities for Ocrevus to reach patients. The initial out-of-the-gate orders for Ocrevus in those countries that have the ability to move quite quickly after approval are already quite strong. Again, you'll start to see the sales for Ocrevus play out of in the coming quarters. But I think this could be something that does equalize that US, EU, rest of world balance as we start getting reimbursement for Ocrevus subcut around the world.
Again, we think that in and of itself, it's a USD2 billion opportunity. And so that's USD2 billion on top of what we've already gotten from the IV space. So this isn't just going to be about cannibalizing our IV business. This is going to be about both in the US and outside the US, expanding to new patient pools. It's very attractive on the Ocrevus side. Just to control expectations a little bit, on the Tecentriq side, I know I mentioned it in my presentation, but we think with Tecentriq, it's largely going to be a conversion strategy. And so that's probably about an incremental USD200 million upside for Tecentriq, while the opportunity for Ocrevus, we believe, is much, much larger.
Simon Baker
Yeah. That was really, really helpful. Just one very quick follow-on going back to Ocrevus subcutaneous. And if you just remind us what the IP situation is? It looks like it's patent-protected to September 2030, but any additional comment on that would be really helpful?
Teresa Graham
Yeah. So I think clearly Ocrevus is sort of end of the decade, but we shouldn't make any broad, sweeping statements about where we think that might go with new formulations and new doses."
Yes, hopefully it's a realistic estimate. The other question is how quickly royalties will get to $168M a year and for how long they will stay in that range.
Is the conversion rate to SC always higher in Europe? Perhaps it is a bit higher for Darzalex SC but I think Halo has said the conversion rate in US is a bit higher than in the rest of the world.
Yes, a bit slower and lower than I expected too, though it's not clear if they expect that to be the peak conversion rate. However, because of biosimilars overall sales of Opdivo should drop after 2028. It seems that they think the conversion rate will be 60% to 70% in the indications that represent 70% of their overall business: "So we expect that conversion to come largely from patients who are in the adjuvant setting, use in combination with Yervoy where there is continuing Opdivo treatment, for example, indications in metastatic melanoma in first-line RCC as well as in Opdivo monotherapy. These indications represent approximately 70% of our overall business."
I wish the analyst had asked about the rest of the world and find it a little odd that they talked only about US.
From the BMY earnings call:
"Adam Lenkowsky
Yeah. I mean, I think we're a long way off to 2028. So I agree, I think it's premature to discuss if Opdivo would be eligible even for IRA negotiation. Remember, if Opdivo makes the list, there could be generics in the market or biosimilars in the market as well. But I think most importantly is what you heard from both David and Chris is that we announced a PDUFA date for our nivo subcu in late December.
So our goal is to convert as much business as we can well prior to the LOE. And we expect to convert at least 30% to 40% of the total US business for Opdivo ahead of the LOE and we think this is a great opportunity for both physicians and patients and we look forward to launching this important formulation. Also, with a biosimilar in the market and we don't expect to see Opdivo completely fall off either. So we also expect to see the subcu and the IV continue into the next decade as well."
.............
Timothy Power
Let's go to the next question, please, Rocco.
Operator
Charles Young, UBS.
Charles Young
Good morning, guys. Trung Huynh from UBS. I have a few follow-ups on the subcu Opdivo. So today you highlighted again the 30% to 40% conversion. How quickly are you arriving at this 30% to 40% of patients? What's stopping it from being more as we've seen things like Darzalex have quite significant conversion?
And then, when is the exclusivity expected to last for this subcu versus IV given the somewhat recent CMS drafts on IRA on subcu formulations? I think you mentioned in one of the questions the next decade, but do you have a year? Thank you.
Christopher Boerner
Adam?
Adam Lenkowsky
Yeah, Trung, thanks for the question. So again, as I said, we are looking forward to the PDUFA date in late December and our launch planning is continuing to progress. So we said we have converted at least 30% to 40% of the total US Opdivo IV business. And we have -- the good news is we have time because the LOE is not until 2028. So we expect that conversion to come largely from patients who are in the adjuvant setting, use in combination with Yervoy where there is continuing Opdivo treatment, for example, indications in metastatic melanoma in first-line RCC as well as in Opdivo monotherapy.
These indications represent approximately 70% of our overall business. And so we talked about the benefits of nivo subcu has the potential to benefit both patients with a less than five-minute infusion time and physicians who are able to free-up chairs, particularly in the community setting.
And we do have the potential to benefit patients through the next decade with nivo subcu based on the fact that we've got a broad patent estate. So we expect to see both nivo subcu and Opdualag continue to persist our leading IO franchise into the early 2030s."
Yes, I know but they (especially LaBrosse) and Matthew Possard seem to be selling a fairly good portion of their holdings in Halo. Since they are also telling us they are doing stock buybacks because they think the stock is undervalued, what they are doing is not exactly what I would like to see.
On the other hand, as far as I can tell, Helen has not sold any shares since 2/24.
By the way, perhaps it's just a coincidence and I think the stock will continue to go higher especially if we get new deals and patent extensions but the stock did close just below $56 today.
I am not sure how much weight the convertibles are but I imagine some very conservative investors who have been getting 1% may convert now, sell and buy treasuries.
I never liked the convertibles or the stock buybacks. Interestingly, LaBrosse and LaBarre have been selling quite a few shares lately.
I have some VKTX too.
JPM: Our Take: This morning, Argenx reported Q2’24 Vyvgart sales of $478m 12% / $51m ahead of company consensus, with sales 11%/$39m ahead in the US and 20%//$12m ahead ex-US. For Q2, Argenx announced Vyvgart sales of $478m, up 77% yoy, with sales 12%/$51m ahead of company consensus of $426m.
Pretty impressive. I haven't listened to the call and don't know if they have said anything about what portion of total sales were Hytrulo sales.
Do you think the $56 conversion price of the convertible notes is putting some pressure on PPS?
It looks like XBI may break out soon. VKTX is helping the sector today.
Same here.
Good point. What is your exit strategy?
You are welcome.
A new trial:
https://clinicaltrials.gov/study/NCT06503731?term=NCT06503731&rank=1