BioMarin data supportive of potential label expansion, says Citi

Citi says new data from the Phase 2 study of vosoritide for the treatment of select genetic causes of short stature show encouraging annualized growth velocity benefit at 12 months for children with idiopathic short stature. While early and in a relatively small sample, these results are supportive of potential label expansion opportunities for Voxzogo beyond achondroplasia, the analyst tells investors in a research note. The firm notes BioMarin is expected to initiate the randomized portion of its pivotal hypochondroplasia trial mid- 2024. Citi keeps a Neutral rating on the shares with a $91 price target.