Ultragenyx data solidify commercial premise, says Piper Jaffray
Piper Jaffray analyst Christopher Raymond says that while Crysvita is already labeled for pediatric patients both in the U.S. and Europe, this morning's Phase 3 data in pediatric X-linked hypophosphatemia patients "serve to solidify the commercial premise." . Some may quibble with the fact that secondary endpoints of growth velocity and six-minute walk test were not statistically significant, Raymond tells investors in a research note. He reminds investors, however, that statistically significant growth velocity improvement versus baseline was seen in Phase 2 and that the "age range of this study was 1-12 so a decent amount of patient variability here." The analyst keeps an Overweight rating on Ultragenyx with a $67 price target.