Jun. 22 at 6:43 PM
RBC Capital reiterated
$RVMD Outperform-
$182 and said: Our Legal Expert Sees A Low Likelihood Of Winning in Court, Though In The Clinic, We Favor Darax
$ERAS $IMTX TGNX BBOT ANL VSTM
RBC Capital added:
Investors remain honed in on understanding RVMD's peak opportunity potential and the durability of tail revenues, and given this, we continue to hear questions on the legal dispute between RVMD and ERAS.
Following checks with a legal expert and a review of recent cases, we think RVMD has a high bar to overcome to prove infringement of '0015, and would be unlikely to prevail in a meaningful way.
Still, we think this should not be seen as a serious threat, as we had always assumed competition from other RAS inhibitors in our model, and believe that daraxas clinical lead, physician enthusiasm, and the high bar that it has set should help it remain the preferred option, and enable >
$10B in revenues for the company.
