Is Global Blood Therapeutics a Buy?
Sickle cell anemia is a genetic disorder that reduces the capacity of red blood cells to deliver oxygen to organs across the body. The disease is estimated to affect more than 100,000 Americans and has a market opportunity worth $3.68 billion on a global scale.
Last year, the Food and Drug Administration approved Global Blood Therapeutics' (NASDAQ: GBT) novel therapy Oxbryta for the treatment of sickle cell disease. I've expressed skepticism about whether patients taking the drug would actually experience a meaningful benefit since Oxbryta had failed to demonstrate significance in a key clinical endpoint. However, long-awaited sales figures for Oxbryta have finally arrived, and they have put my concerns at ease. Without further ado, let's have a look as to why.
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Source Fool.com