Edgewise (EWTX) a Biotech to keep an eye on with a recent buy of 3000 February $25 calls for over $1.1M and has also seen some opening sales of the February $30 ITM puts.

EWTX a $2.5B Biotech which importantly has seen short interest drop to 6% of the float from 10% in October and trades 5X Cash and 10X FY28 consensus sales.

EWTX’s pipeline has multiple, near-term clinical readouts: sevasemten for Becker muscular dystrophy, or BMD, and Duchenne muscular dystrophy, or DMD, and EDG7500 for obstructive and non-obstructive hypertrophic cardiomyopathy, or HCM. Each are seen to have multi-billion dollar potential

EWTX recently announced positive CANYON Phase 2 data in Decker muscular dystrophy which has firms raising odds of success to 75% or higher.

EWTX looks to be a small biotech with multiple shots on goal trading relatively cheap to the peak sales potential of its multiple assets. It has characteristics that could make it an attractive M&A target.