Edgewise surges on sale of muscle dystrophy business to Servier

Edgewise Therapeutics

01/06/2026 15:06

Updates
** Shares of drug developer Edgewise Therapeutics EWTX.O rise 17.7% to $40.3
** Co says it will sell its muscle dystrophy business to French drugmaker Servier for up to $2.65 billion
** EWTX says Servier will gain access to its experimental drug sevasemten, which is being tested in Becker and Duchenne muscular dystrophy, two genetic disorders that cause progressive muscle weakness
** Co says the sale would strengthen its balance sheet and plans to use the proceeds for development of its lead candidate EDG-7500, which is being tested for the heart condition hypertrophic cardiomyopathy
** RBC Capital Markets says the dystrophy program accounted for about half of its valuation of Edgewise, at roughly $2.7 billion, and projected peak sales for sevasemten of around $2.2 billion, adding "the deal would most likely be fair value neutral if all milestones are reached"
** Including session moves, stock was up 58.6% YTD

 (Reporting by Christy Santhosh and Siddhi Mahatole)
 ((Christy.Santhosh@thomsonreuters.com))