Peptide News Digest

#Leerink-Partners

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Roivant PHocus Analyst Chorus Continues Into the Weekend: Leerink Flags Up to $10 Billion Peak Sales Potential for Mosliciguat Across Multiple Pulmonary Hypertension Indications

Roivant Sciences (NASDAQ: ROIV) analyst commentary continued through the weekend following Tuesday's Pulmovant Phase 2 PHocus mosliciguat win, with Leerink Partners' David Risinger flagging up to $10 billion peak sales potential for mosliciguat across multiple pulmonary hypertension indications. The Leerink estimate substantially exceeds the ~$3 billion PH-ILD-only estimate Guggenheim disclosed Wednesday September 9. Other analyst peak sales projections ranged from $1.5 billion to $5 billion depending on indication assumptions and market-share methodology. The week's analyst upgrade sequence: Jefferies to $52 (from $42), Guggenheim to $46 (from $42), Piper Sandler to $55 (from $40), TD Cowen to $55 (from $50), BofA also raised. Consensus 12-month price target clusters around $50-55. The PHocus trial produced a 56.3% placebo-adjusted PVR reduction at Week 16 (p<0.0001), 6MWD +35.2 meters, and NT-proBNP −357.7 pg/mL (−53.2%). The Phase 3 PHrontier trial in approximately 375 patients is enrolling. Mosliciguat's mechanism (inhaled soluble guanylate cyclase activator working independently of heme and nitric oxide) differentiates it from sGC stimulators like Bayer's Adempas (riociguat) and prostacyclin analogs like United Therapeutics' Tyvaso (treprostinil).

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Amylyx Pharmaceuticals (NASDAQ: AMLX) Closed Its Upsized $500.2 Million Underwritten Public Offering as Scheduled Friday August 21, 2026, With 14,090,000 Shares of Common Stock Priced Wednesday August 19 at $35.50 per Share, Leerink Partners, Morgan Stanley, Guggenheim Securities, and LifeSci Capital as Joint Book-Running Managers; The Offering Follows the Monday August 18 Phase 3 LUCIDITY Primary Endpoint Hit for Avexitide (Exendin 9-39, First-in-Class GLP-1 Receptor Antagonist Peptide) That Documented a 55% Reduction in the Composite Rate of Level 2 and Level 3 Hypoglycemic Events (P=0.000003) in Post-Bariatric Hypoglycemia; Use of Proceeds: Avexitide Commercial Launch Preparation, End-2026 NDA Submission Activities, AMX0318 (Long-Acting Follow-On) IND-Enabling Studies, and General Corporate Purposes; Underwriter 30-Day Option for Additional 2,113,500 Shares Would Bring Total Raise Capacity to Roughly $575 Million if Fully Exercised

Amylyx Pharmaceuticals (NASDAQ: AMLX) closed its upsized $500.2 million underwritten public offering as scheduled Friday August 21, 2026. Deal terms: 14,090,000 shares of common stock priced Wednesday August 19 at $35.50 per share, with Leerink Partners, Morgan Stanley, Guggenheim Securities, and LifeSci Capital as joint book-running managers. The offering follows the Monday August 18 Phase 3 LUCIDITY primary endpoint hit for avexitide (exendin 9-39, first-in-class GLP-1 receptor antagonist peptide) that documented a 55% reduction in the composite rate of Level 2 and Level 3 hypoglycemic events (p=0.000003) in post-bariatric hypoglycemia. Use of proceeds: avexitide commercial launch preparation (Q4 2026 NDA submission), broader pipeline advancement including AMX0318 (long-acting follow-on candidate identified with Gubra A/S, IND targeted 2027), and general corporate purposes. Underwriter 30-day option for additional 2,113,500 shares at the same price less underwriting discounts and commissions would bring total raise capacity to roughly $575 million if fully exercised. Amylyx also expanded its board of directors as part of the LUCIDITY-week capital markets round. The $500 million raise provides several years of operational runway to fund the avexitide launch trajectory and the second-generation AMX0318 development program targeting the same GLP-1 receptor antagonist mechanism at a longer-acting dosing format.