1351 ET - As Centessa Pharmaceuticals reports results and predicts a "data-rich" year, TD Cowen is optimistic about its ORX750 drug for sleep disorders. "Given 750's competitive wake-promoting efficacy and clean tolerability, we are optimistic for the Phase IIa results this year," the firm says. It anticipates a large overall market for OXR2 agonists, and says on-target adverse events for ORX750 "appear to be lower than competitors at same stage of development." TD Cowen assumes a 2028 market introduction and believes sales could eventually top $2.5 billion. Centessa says cash and equivalents totaled $482.2 million at Dec. 31, which would fund operations into mid-2027. Centessa previously said it will present data from a Phase 1 ORX750 trial during an American Academy of Neurology meeting to be held April 5 to April 9. Shares rise 4.9%. (josh.beckerman@wsj.com)
(END) Dow Jones Newswires
March 24, 2025 13:51 ET (17:51 GMT)
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