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Biotech / Medical : Immunomedics (IMMU) - moderated
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To: jargonweary who wrote (63151)6/27/2025 7:32:40 PM
From: stockdoc775 Recommendations

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Just to clarify the two deaths were in boys receiving therapy that was FDA approved through AA. There is an ongoing confirmatory trial but these boys were not part of that is my understanding. The company has a market cap of 1.7 billion dollars and net cash/assets of 1.1 billion, so essentially being valued at 600 million. It still has its exon skippers that have been on market for several years and do about 600 million in annual revenue. Gene therapy for DMD is fully approved in ambulatory kids (usually under age 11) and has AA for non-ambulatory. They were guiding towards 2.6 billion in revenue for 2025 before the patient deaths occurred. Now it is likely down to 1.6 billion as they have stopped dosing the non-ambulatory kids. This does however create a strong incentive for families with boys that are close to losing ambulation to get treated now. They are planning on doing a small study using a different immunosuppressive protocol to go with the gene therapy that should in theory reduce the liver toxicity that has been seen. With that they will go back to FDA and see if they will sign off on resuming dosing of non-ambulatory. Of note they have treated 900 kids so far, so two deaths is hardly a disaster given that every child with DMD is going to end up in wheelchair in their early teens and die before they reach 20. Think of it like chemotherapy, we know chemo kills lots of patients but the alternative is certain death. Should chemo drugs be pulled from the market? Could the stock go lower? Who knows, but the downside risk here is pretty small IMO.
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