Source: Financial Modeling Prep · peers by sector/industry
Insider activity (SEC Form 4)
No recent Form 4 filings on EDGAR — either no insider transactions reported recently or this isn't a SEC-registered issuer.
Valuation
Trading at 0.9× sales vs its 0.6× historical median P/S.
Fair value ≈ $25.31 · price $40.00 today
Overvalued · 58% above
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Fair-value line = the stock's median historical P/S × sales per share. Price below the orange line = cheap vs its own history; above = expensive. Not investment advice.
H.C. Wainwright🏁 $MAZE Buy-$34 and said, "MZE782, a first-in-class SLC6A19 small molecule inhibitor for CKD can be a game changer for the stock, with the Phase 1 PoC data reading out in 3Q 2025.
$BMRN $PTCT $CALT $BAYZF
H.C. Wainwright added, "Maze's proprietary COMPASS platform uniquely transforms human genetic variant information into mechanism-based drug programs, positioning the company as a leader in precision nephrology, simultaneously broadening the pipeline potential in other indications.
By functionally characterizing protective and pathogenic variants at scale, COMPASS enables ultra-targeted molecules, like MZE829 and MZE782, with best-in-class potential, tight safety profiles, and broad label expansion opportunities.
H.C. Wainwright's positive thesis is based on the following ideas:
$TVTX is off ~32% from its $21.50/peak 8 weeks ago after reporting a comfortable Q1 2025 beat where the $XBI is more or less unchanged (and off ~40% from its Feb 2025 peak)
TVTX now trades for 0.11X 10-year projected revenues. By comparison, as disappointed as $CALT investors were with its M&A share price, CALT was still acquired for 0.28X 10-year projected revenues.
It appears Filspari's patent expires in 7/2034 (9 years from now). CALT forecast its IgA therapy to peak in year 5 (we assume due to a like patent expiration but cannot confirm). CALT's revenue forecast provided its buyer attached.
In April 2025 Guggenheim published a $2.0B Filspari peak sales estimate in FSGS (PDUFA January 2026). The lowest Filspari peak sales estimate we could find in FSGS was $300MM. Obviously a CRL would be a bad thing but approval...
This is not investment advice.
Cantor Fitzgerald reiterated $TVTX at an Overweight rating.
$NVS ( $CALT - $AHKSY ( $ALPN - $VRTX))
Cantor Fitzgerald said in its note, "We'd own $TVTX for FSGS approval and a rapid launch driven by:
1) high unmet need (higher than IgAN, per our physician survey),
2) no treatment option,
3) physician familiarity with Filspari and comfort with the safety profile in the real world,
4) no competition for Filspari for several years.
Also, Filspari pricing in FSGS (~$280K+ /yr) will likely be double the IgAN price due to the double the dose tested in FSGS. Thus, for blockbuster sales in FSGS, only 4-5K patients need to be on Filspari, or 15-30% of the 15-30K FSGS addressable patients in the U.S."
$CALT Notice of extraordinary meeting of Calliditas Therapeutics AB (publ)
https://www.stocktitan.net/news/CALT/notice-of-extraordinary-meeting-of-calliditas-therapeutics-ab-mqdopga0k5nx.html
$CALT Calliditas Therapeutics takes certain corporate actions following announcement by Asahi Kasei
https://www.stocktitan.net/news/CALT/calliditas-therapeutics-takes-certain-corporate-actions-following-b6ud6p430k5g.html
$CALT this popped 4$ after hours on 100 shares bought. What would it do if it had 100k volume during the day instead of 4k? With a high volume buy rate?
$CALT $CALTX Calliditas partner STADA receives European Commission decision for full approval of Kinpeygo® for the treatment of IgA Nephropathy
https://www.stocktitan.net/news/CALT/calliditas-partner-stada-receives-european-commission-decision-for-j13exhynvurn.html
$CALT Calliditas Therapeutics announces TRANSFORM trial met primary endpoint
Calliditas Therapeutics announced that the Phase 2b TRANSFORM trial met its primary endpoint, showing statistically significant improvement in ALP for both doses tested versus placebo. The trial evaluated setanaxib, a NOX enzyme inhibitor, in patients with primary biliary cholangitis and elevated liver stiffness. The TRANSFORM trial is a double-blind, randomized, placebo-controlled Phase 2b study investigating the effect of setanaxib 800 mg AM + 400 mg PM, and 800 mg BID over 24 weeks of treatment. The basis for the analysis consisted of a dataset of 76 patients with primary biliary cholangitis and elevated liver stiffness.
The treatment groups were relatively well-balanced with no clinically relevant differences between the groups observed at baseline. Over 40% of the trial population was on dual therapy, ie was receiving UDCA and either Ocaliva or Bezafibrate as base therapy and 13% were receiving all three therapies during the study, reflecting setanaxib having clinically relevant incremental benefit beyond existing standard of care.
Patients treated with setanaxib showed statistically significant improvements in the primary endpoint of ALP of 19% in the 1600mg arm and 14% in the 1200mg arm and showed positive trends on liver stiffness assessed by FibroScan at 24 weeks. Setanaxib treatment was generally well tolerated with overall number of TEAEs, as well as serious TEAEs, being similar between active treatment and placebo. The frequency of TEAEs leading to study discontinuation was higher in patients receiving active treatment compared to placebo.
The company is conducting additional clinical trials with setanaxib and is expecting the investigator led Phase 2 trial in IPF to provide top line data in Q4 2024 / Q1, 2025. There is also an ongoing Phase 2 proof of concept trial in Alport syndrome, which is expected to deliver top line data in 2025.
