Morgan Stanley initiated coverage on Akili Inc. with a rating of Equal Weight and a price target of $2 on the stock.
According to the analyst, the digital medicine company’s product EndeavorRx could generate more than $200 million in peak sales in ADHD. EndeavorRx got marketing authorization from the FDA in mid-2020 as a medical device for patients aged 8-12 with ADHD, and a commercial launch began in late 2022.
The analyst indicated that given the apparent skepticism of the market for digital therapeutics’ sales potential, a significant focus on early launch metrics such as script growth and refill rates is expected.
Akili’s pivotal data in ADHD patients aged 13-17 and 18+ is likely in the second half of 2023.