Omeros CorporationOMER
▲ PositiveCapitalrelevance
Cantor Fitzgerald upgraded Omeros to Overweight and reinstated a $22 price target on bigger-than-expected Yartemlea peak sales prospects.
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Biotech & Genomic Medicine▲ · 1 stocks
Omeros CorporationTheme Impact 1
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PureTech Health Ends H1 2026 With $220 Million, Runway to 2028
PureTech Health PLC reported H1 2026 cash and short-term investments of $220 million, down from $277.1 million at year-end 2025, providing operational runway at least through the end of 2028. Seaport Therapeutics completed a successful IPO on NASDAQ, raising $260 million, while Gallup Oncology received FDA Fast Track designation for LYT200 in relapsed/refractory high-risk MDS and completed a successful End of Phase 1 meeting. Estimated future proceeds from Cobenfy royalties and milestones were materially downgraded to approximately $50 million based on analyst consensus. PureTech reserved $70 million for future investment in Celia Therapeutics, which will require additional financing to complete its Phase 3 trial, and expects go-forward cash burn of $30 million to $40 million a year, down from roughly $90 million when later-stage clinical programs were run internally. Gallup Oncology's Phase 2 STRIDE MDS trial is not expected to be pivotal and will take approximately 30 to 33 months, with initiation contingent on external financing targeted for completion by the first half of next year.
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Stifel Initiates Roivant With Buy Rating, Sees $9 Billion Sales by 2037
Stifel initiated coverage of Roivant Sciences with a Buy rating and a $51 price target on September 16, projecting roughly $9 billion in ownership-adjusted sales for the company by 2037. The call centers on Lisraya, or brepocitinib, which the FDA approved on August 27 for adults with dermatomyositis, making it the first FDA-approved oral treatment for the rare disease. Roivant is also evaluating brepocitinib in non-infectious uveitis, with Phase 3 topline data expected in the second half of 2026, in cutaneous sarcoidosis, with Phase 3 data expected in 2028, and in lichen planopilaris, where enrollment in Part 1 of a Phase 2b/3 study is on course. Beyond brepocitinib, the anti-FcRn antibody IMVT-1402 is advancing in several autoimmune indications with clinical updates expected in 2026, and mosliciguat posted positive Phase 2 results in pulmonary hypertension associated with interstitial lung disease, showing a 56.3% placebo-adjusted reduction in pulmonary vascular resistance at Week 16, prompting a Phase 3 program. Roivant reported $3.9 billion in cash, cash equivalents, restricted cash, and marketable securities at June 30, and in July Genevant and Arbutus received an aggregate $950 million payment from Moderna through a patent infringement settlement, with Genevant receiving $771.6 million. Hedge fund interest rose to 64 holders at the end of Q2 from 60 in Q1 and 52 in Q4, while short interest stood at 33.5 million shares as of August 31, equal to 5.09% of the public float.
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FDA Approves Ultragenyx's Fayuvi, First Treatment for Sanfilippo Syndrome Type A
The FDA on September 17 approved Fayuvi for the treatment of neurologic manifestations of Sanfilippo syndrome Type A in pediatric patients with preserved neurodevelopmental function, making it the first approved treatment for the rare and fatal childhood disorder. Ultragenyx Pharmaceutical Inc. expects Fayuvi to be available to patients within 30 to 60 days, and has set a list price of $3.95 million for a one-time treatment in the US, one of the world's most expensive drugs. JP Morgan estimates Fayuvi could bring in $200 million to $250 million in peak global sales, which at the lower end would represent around 26% of Ultragenyx's 2026 revenue guidance midpoint. The approval expands Ultragenyx's commercial portfolio as the company works toward profitability in 2027, after it posted a loss of $575 million on revenue of $673 million in 2025 and guided for $730 million to $760 million in total revenue this year from current products, excluding potential revenue from new launches such as Fayuvi. Ultragenyx stock jumped more than 12% on the approval but remains down nearly 40% this year, while short interest stood at 17.1 million shares, or 18% of the public float, as of August 31.