- With the interim analysis of the Rexulti Alzheimer's agitation study leading to study continuation, Lundbeck's cupboard of near-term catalysts is looking pretty bare.
- A strong efficacy signal in the Phase II Rexulti study in borderline personality disorder or strong acceleration in Vyepti prescriptions would be welcome, but seem less likely.
- Lundbeck looks undervalued on a risk-weighted revenue/FCF basis, but upside is largely tied to positive clinical updates, and Lundbeck is targeting high-risk/high-reward indications.
For further details see:
Lundbeck Really Needs Clinical Wins And Post-Pandemic Re-Acceleration