Quantum Genomics initiation of coverage BUY – EUR13 TP
Quantum Genomicsinitiation of coverage BUY – EUR13 TP
The shape of my heart
Quantum Genomics is developing a first-in-class brain aminopeptidase A inhibitor drug, firibastat, to address resistant hypertension (rHTN) and heart failure with reduced ejection fraction (HFrEF). We are optimistic about firibastat’s potential to address rHTN i) given the unmet need, ii) encouraging proof of concept data and iii) commercial agreements signed for non-core territories. The first phase 3 results of firibastat in rHTN will be presented on November 7th, 2022 during a late-breaking trials session at the American Heart Association (AHA) congress and the second part in mid-2023 which, altogether, could pave the way for approval in 2024. We believe there is further upside if the company secures a global partnership with a pharma company to cover the main distribution regions (US and EU). We initiate coverage with a BUY rating and EUR13 PT, ascribing 93% to the rHTN indication with peak sales of EUR1bn. For HFrEF, we expect the company to initiate a phase 3 trial with firibastat in 2023e, provided a partnership agreement is signed.
Resistant hypertension (rHTN) represents a high unmet medical need
Firibastat is a novel mechanism of action proposed to treat rHTN
A high-impact phase 3 readout for firibastat in rHTN at AHA on Nov-7th 2022
We initiate coverage with a BUY and a EUR13 PT
Quantum Gernomics is a biotechnology firm specializing in the development of innovative drugs to combat cardiovascular diseases. Run by professionals in creating and managing technological start-ups and drug development, as well as researchers and inventors, Co. has established contractual relations with institutions of academic excellence in France (Inserm, CollA
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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