Mizuho says hard to tell yet how Centessa and Alkermes stack up in narcolepsy

Mizuho notes that Centessa (CNTA) released data from their Phase 1 Single Ascending Dose, or SAD, trial of ORX750 in acutely sleep-deprived, healthy volunteers for 1 and 2.5 mg and calls the efficacy and safety profile in these sleep-deprived volunteers “promising.” However, while ORX750 could be a viable drug for treating sleep disorders, the firm believes these data are “not sufficient to draw any definitive conclusion about which molecule is best-in-class.” The firm, which believes data in narcolepsy type 1, or NT1, narcolepsy type 2, or NT2, and idiopathic hypersomnia, or IH, patients are needed to characterize the efficacy and safety profile of ORX750 in these sleep disorders, points out that Alkermes’ (ALKS) Phase 1 SAD trial in healthy volunteers studied ALKS-2680 in a wide range of doses and as a result, more “on-target” adverse effects were reported from the trial. The firm maintains an Outperform rating and $35 price target on Alkermes shares.