Edgewise Sells Muscular Dystrophy Asset for $1.55B Upfront, Shifts Focus to Cardiovascular Pipeline
Summary
Edgewise Therapeutics announced the sale of its sevasemten drug and muscular dystrophy business to Servier for $1.55 billion in upfront cash, with potential for an additional $1.1 billion in milestone payments, totaling up to $2.65 billion. This follows the positive long-term data for sevasemten in Becker muscular dystrophy announced in an 8-K on May 7th. The $1.55 billion upfront payment is a massive cash infusion relative to the company's market cap, significantly strengthening its balance sheet and providing full funding for EDG-7500 development through potential approval. This transaction fundamentally shifts Edgewise's strategic focus to its cardiovascular pipeline. The transaction is expected to close in Q3 2026, and the company plans to report 12-week CIRRUS-HCM Part D data in Q2 2026.
At the time of this announcement, EWTX was trading at $34.35 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $3.7B. The 52-week trading range was $12.15 to $39.96. This news item was assessed with positive market sentiment and an importance score of 10 out of 10. Source: PR Newswire.