Goldman Sachs
May 21, 2026
BioMarin Voxzogo Expansion in Hypochondroplasia
Single Stock ReportEquitiesHealth Care
BioMarin reported positive Phase 3 data for Voxzogo in hypochondroplasia, exceeding efficacy expectations and paving the way for a 3Q 2026 sNDA submission.
Key Takeaways
- 1.BioMarin reported positive Phase 3 topline data for Voxzogo in hypochondroplasia, meeting the primary endpoint of 52-week change in annualized growth velocity (2.33cm/yr).
- 2.Management plans to submit a supplemental New Drug Application (sNDA) in 3Q 2026, with potential commercial launch in 2027.
- 3.The global addressable population for hypochondroplasia is estimated at 14,000, with peak sales modeled at approximately $300 million.
Table of Contents
- BioMarin Pharmaceutical Inc. (BMRN): Positive topline hypochondroplasia data unlocks a Voxzogo expansion opportunity
- Valuation and risks
- Disclosure Appendix
- Reg AC
- GS Factor Profile
- M&A Rank
- Quantum
- Disclosures
- Company-specific regulatory disclosures
- Distribution of ratings/investment banking relationships
- Price target and rating history chart(s)
- Target price history table(s)
- Regulatory disclosures
- Global product; distributing entities
- General disclosures
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Authors
Salveen RichterTommie ReerinkElizabeth Webster, Ph.D.
Securities
BMRNBBIOASND
Themes
Rare Disease Market ExpansionBiotech Competitive Landscape
Regions
GlobalEuropeUnited States
