viewAmryt Pharma PLC

Amryt Pharma impresses broker at Capital Markets Day

"A unique, cash-flow positive, global, commercial-stage company with two growth assets"


Amryt Pharma has had its price target of US$40 and 'buy' rating reiterated by Canaccord after the company hosted a virtual capital markets day.

Opinion leaders spoke on the near-term growth opportunities with Filsuvez in epidermolysis bullosa (EB) and Mycapssa in acromegaly, said the broker, which has underlined its optimistic view.

The broker continues to expect US approval of Filsuvez in EB on its November 30 PDUFA date, which should serve as a significant catalyst for the share price.

Oleogel-S10 (Filsuvez) could become the backbone of therapy for patients with epidermolysis bullosa (EB)  if approved, said the speakers.

Filsuvez would be the first FDA-approved therapy for the disease, while the current standard of care for EB includes costly specialised wound dressings combined with pain, itch, and infection management.

Commercial launch preparations for Filsuvez are underway ahead of the PDUFA date with an EU decision also expected in December.

Amryt is planning a relaunch strategy for Mycapssa (oral octreotide) in acromegaly and a phase 3 study of Mycapssa in patients with NETs (neuroendocrine tumours).

Recently, Amryt also raised its full-year revenue guidance for 2021 to between US$220-225mln.

"Amryt is a unique, cash-flow positive, global, commercial-stage company with two growth assets (Filsuvez and Mycapssa) anticipated to launch (or re-launch) near term," concluded Canaccord.

Shares, which are listed in the UK and US, were trading at US$10.81 on Nasdaq Tuesday.

Quick facts: Amryt Pharma PLC


Price: 180 GBX

Market Cap: £569.69 m

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