Latest news with #Edgewise
Globe and Mail
02-05-2025
- Business
- Globe and Mail
Why Edgewise Therapeutics Stock Popped This Week
On Thursday, an analyst launched coverage of Edgewise Therapeutics (NASDAQ: EWTX) stock, and the market took notice in a good way. On the back of his bullish view of the company, according to data compiled by S&P Global Market Intelligence, its share price vaulted nearly 14% higher across the week. An analyst finds his inner bull with the biotech That professional was Guggenheim's Debjit Chattopadhyay, who initiated his Edgewise Therapeutics coverage with a buy recommendation, and price target of $41 per share. That's well more than double the biotech stock's most recent closing price, just shy of $17. According to reports, Chattopadhyay wrote in his inaugural research note on Edgewise that with its attractive enterprise value (EV), combined with quite a promising pipeline, the company's stock has significant upside potential. That EV currently stands at over $1 billion, the analyst pointed out, and it has not one but two promising development programs. The first is EDG-7500, a treatment targeting obstructive and nonobstructive hypertrophic cardiomyopathy, a heart disorder, and the second is Duchenne muscular dystrophy drug sevasemten. Clinical trial results should come in for both within the next year. A word of caution Given all that, Edgewise is in a better position than many other biotechs to succeed. We should always bear in mind with such companies, however, that much depends on their pipelines. If experimental drugs do well in the lab and ultimately win regulatory approval, the developer could be quite the winner on the stock market. However, the opposite is usually true if a pipeline drug flops. Should you invest $1,000 in Edgewise Therapeutics right now? Before you buy stock in Edgewise Therapeutics, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Edgewise Therapeutics wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $611,271!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $684,068!* Now, it's worth noting Stock Advisor 's total average return is889% — a market-crushing outperformance compared to162%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of April 28, 2025
Yahoo
02-05-2025
- Business
- Yahoo
Why Edgewise Therapeutics Stock Popped This Week
A researcher initiated coverage of the stock with a buy recommendation. He feels its price could reach $41 per share. On Thursday, an analyst launched coverage of Edgewise Therapeutics (NASDAQ: EWTX) stock, and the market took notice in a good way. On the back of his bullish view of the company, according to data compiled by S&P Global Market Intelligence, its share price vaulted nearly 14% higher across the week. That professional was Guggenheim's Debjit Chattopadhyay, who initiated his Edgewise Therapeutics coverage with a buy recommendation, and price target of $41 per share. That's well more than double the biotech stock's most recent closing price, just shy of $17. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » According to reports, Chattopadhyay wrote in his inaugural research note on Edgewise that with its attractive enterprise value (EV), combined with quite a promising pipeline, the company's stock has significant upside potential. That EV currently stands at over $1 billion, the analyst pointed out, and it has not one but two promising development programs. The first is EDG-7500, a treatment targeting obstructive and nonobstructive hypertrophic cardiomyopathy, a heart disorder, and the second is Duchenne muscular dystrophy drug sevasemten. Clinical trial results should come in for both within the next year. Given all that, Edgewise is in a better position than many other biotechs to succeed. We should always bear in mind with such companies, however, that much depends on their pipelines. If experimental drugs do well in the lab and ultimately win regulatory approval, the developer could be quite the winner on the stock market. However, the opposite is usually true if a pipeline drug flops. Before you buy stock in Edgewise Therapeutics, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Edgewise Therapeutics wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $611,271!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $684,068!* Now, it's worth noting Stock Advisor's total average return is 889% — a market-crushing outperformance compared to 162% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of April 28, 2025 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Edgewise Therapeutics Stock Popped This Week was originally published by The Motley Fool
Yahoo
02-04-2025
- Business
- Yahoo
Edgewise Therapeutics Stock Plummets on Drug Trial 'Adverse Events'
Shares of Edgewise Therapeutics fell sharply Wednesday after the company released data for its latest clinical trial. The drug accomplished its main goal, but side effects reported by some patients raised concerns. Shares of Cytokinetics, one of Edgewise's competitors, surged in Therapeutics (EWTX) shares tumbled more than 20% Wednesday after the developmental drug company issued the results of its latest clinical trial. The company released the results of a Phase 2 trial for EDG-7500, a drug to treat Hypertrophic Cardiomyopathy (HCM), a condition that involves thickened heart muscles, which can make it more difficult for the heart to pump blood effectively. Edgewise said the drug largely accomplished its goal of reducing left ventricular outflow tract gradient (LVOT-G)--a metric that measures how difficult it is for the heart to pump blood--"without meaningful changes in left ventricular ejection fraction (LVEF)." However, the drug's side effects have overshadowed the positive results. The most common side effects were dizziness and an infection in the upper respiratory tract, along with atrial fibrillation (AF), also known as an irregular heartbeat. However, "two participants experienced serious adverse events of AF requiring cardioversion," or treatment to get a heart back to a normal rhythm. The company said that the rate of patients who experienced AF was within the range of similar studies with other drugs. According to Investor's Business Daily, RBC Capital Markets analyst Leonid Timashev wrote in a note, "The fact that two were serious is a complexity that could prompt the FDA to review this closely." Shares of Cytokinetics (CYTK), which is working on a competing drug, jumped 10% on the concerning results for Edgewise. Shares of Edgewise were down 21%. Read the original article on Investopedia Sign in to access your portfolio
Associated Press
02-04-2025
- Business
- Associated Press
Edgewise Therapeutics Announces Pricing of $200 Million Underwritten Offering of Common Stock
BOULDER, Colo., April 2, 2025 /PRNewswire/ -- Edgewise Therapeutics, Inc. (NASDAQ: EWTX), a leading muscle disease biopharmaceutical company, today announced the pricing of an underwritten offering of 9,935,419 shares of its common stock at an offering price of $20.13 per share. Edgewise anticipates gross proceeds from the offering to be approximately $200 million, before deducting underwriting discounts and commissions and offering expenses. The closing of the offering is expected to occur on April 3, 2025, subject to the satisfaction of customary closing conditions. The deal included participation from Braidwell LP, Cormorant Asset Management, Driehaus Capital Management, Invus, Janus Henderson Investors, MPM BioImpact, OrbiMed, Paradigm BioCapital Advisors, Perceptive Advisors, RA Capital Management and Sofinnova Investments, Inc., among other funds. Leerink Partners, Piper Sandler, Guggenheim Securities and Truist Securities acted as joint book-running managers for the offering. Edgewise intends to use the net proceeds from the offering to support the potential U.S. commercial launch of sevasemten in patients with Becker muscular dystrophy, if approved, and advancement of a Phase 3 trial with sevasemten in Duchenne muscular dystrophy, Phase 3 trials of EDG-7500 in patients with obstructive and non-obstructive hypertrophic cardiomyopathy and Edgewise's other ongoing research and development programs, and for working capital and general corporate purposes. The shares are being offered by Edgewise pursuant to a Registration Statement on Form S-3ASR previously filed with the U.S. Securities and Exchange Commission (the SEC) and which automatically became effective upon filing. A prospectus supplement and accompanying prospectus relating to the offering will also be filed with the SEC. These documents can be accessed for free through the SEC's website at When available, a copy of the prospectus supplement and the accompanying prospectus relating to the offering may also be obtained from: Leerink Partners LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, or by telephone at (800) 808-7525, ext. 6105, or by email at [email protected]; Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, or by telephone at (800) 747-3924, or by email at [email protected]; Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, or by telephone at (212) 518-9544, or by email at [email protected]; or Truist Securities, Inc., Attention: Prospectus Department, 3333 Peachtree Road NE, 9th Floor, Atlanta, GA 30326, or by telephone at (800) 685-4786, or by email at [email protected]. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About Edgewise Therapeutics Edgewise Therapeutics is a leading muscle disease biopharmaceutical company developing novel therapeutics for muscular dystrophies and serious cardiac conditions. The Company's deep expertise in muscle physiology is driving a new generation of novel therapeutics. Sevasemten is an orally administered skeletal myosin inhibitor in late-stage clinical trials in Becker and Duchenne muscular dystrophies. EDG-7500 is a novel cardiac sarcomere modulator for the treatment of hypertrophic cardiomyopathy and other diseases of diastolic dysfunction, currently in Phase 2 clinical development. The entire team at Edgewise is dedicated to our mission: changing the lives of patients and families affected by serious muscle diseases. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements as that term is defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements. Words such as 'believes,' 'anticipates,' 'plans,' 'expects,' 'intends,' 'will,' 'goal,' 'potential' and similar expressions are intended to identify forward-looking statements. Such statements are subject to numerous important factors, risks and uncertainties that may cause actual events or results to differ materially from current expectations and beliefs, including but not limited to: general economic and market conditions; satisfaction of customary closing conditions related to the offering; the timing, progress and results of clinical trials for sevasemten and EDG-7500; the timing, scope and likelihood of regulatory filings and approvals; and other risks. Information regarding the foregoing and additional risks may be found in the section entitled 'Risk Factors' in documents that Edgewise files from time to time with the SEC. These forward-looking statements are made as of the date of this press release, and Edgewise assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law.
