Verve Could Continue To Rise Through Clinical Progress - Despite DeeperPocketed Competition

 

• Credit Suisse has initiated coverage on Verve Therapeutics Inc 
  VERV-2.56%+ Free Alerts
   with a Neutral rating and a $48 target price. 
• Its lead assets are VERVE-101 for heterozygous familial hypercholesterolemia (HeFH) and atherosclerotic cardiovascular disease (ASCVD) and VERVE-201 for homozygous familial hypercholesterolemia (HoFH). 
• The analyst is cautious about VERVE-101, citing a distinct advantage of being a one-time PCSK9 therapy that could free patients from a lifetime of monthly injections. However, patients are still required to take daily oral statins. 
• Credit Suisse sees high market barriers related to commercial payers and high out-of-pocket expenses for Medicare patients. 
• However, the analyst believes payer challenges may not be fully appreciated until product approval/launch.
• The opinion is based on numerically worse LDL-C reduction data, elevated liver enzymes, lack of outcomes evidence at launch, and reimbursement challenges. 
• Additionally, Leqvio has not demonstrated much commercial success despite less frequent dosing every six months. 
• The market could be further crowded with the potential launch of Merck & Co Inc's 
  MRK+0.76%+ Free Alerts
   oral PCSK9 (MK-0616) and biosimilars. 
• The analyst's Neutral rating is driven by VERV's ability to compete against well-established, wellentrenched, and deeperpocketed large pharma/biotech companies.

https://www.benzinga.com/general/biotech/22/10/29173775/credit-suisse-initiates-verve-therapeutics-while-being-cautious-on-one-gene-therapy