JMP Conducts Retrophin Survey To Understand Story

In a recently conducted JMP Securities’ survey, results indicated that experts support the accelerated approval pathway for Retrophin Inc RTRX's sparsentan and expect high usage levels in FSGS.

Analyst Liisa A. Bayko reiterated a Market Outperform rating on the company, with a price target of $28.

Survey Results

“We conducted a survey of investigators who participated in the Phase 2 DUET study of sparsentan in focal segmental glomerulosclerosis (FSGS) to gain insight on their impressions of sparsentan after additional Phase 2 DUET data were presented late last month at the Kidney Week meeting,” Bayko mentioned.

The analyst stated that Retrophin is scheduled to discuss the next steps for the sparsentan program with the FDA in January. A key debate during this meeting is expected to be the use of proteinuria as a surrogate endpoint, since it has never been used before.

Potential For Sparsentan

However, 80 percent of the surveyed physicians expressed confidence in the ability of this endpoint to predict progression to kidney failure.

Some of the other key takeaways from the survey were that KOLs saw sparsentan as “quite differentiated from other treatment options for FSGS and believe the product is relatively safe,” the analyst stated.

In addition, the survey revealed an intention to prescribe the product to 60 percent of patients.

Bayko noted that a majority of the usage seems to be in the front-line setting, while about 50 percent of the physician stated that they would consider off-label use.