Orladeyo is the only oral, once-daily prophylactic for HAE — a durable niche. 96.6% gross margins on $886M revenue with $365M EBITDA. Trades at 7.1x trailing P/E — cheapest in the Healthspan universe despite recurring revenue model.
Conviction●●●○○3 of 5
Research target—Snapshot target
Thesis statusACTIVE_RESEARCHLast reviewed Not reviewed
Market cap$2.50BSnapshot value
Orladeyo HAE market share growth (oral convenience vs injectable competitors), pediatric HAE label expansion, pipeline readouts (complement-mediated diseases), continued revenue growth + margin expansion toward profitability
1. Orladeyo HAE share loss to Takeda Takhzyro / CSL Haegarda. 2. New oral HAE competitor enters (KalVista sebetralstat). 3. Safety signal in chronic use. 4. Pipeline failure — no second act beyond Orladeyo. 5. Patent challenge on berotralstat composition of matter.
Low retail interest despite compelling valuation. High short interest (10.7) creates squeeze potential but also signals institutional skepticism.
Snapshot · Not reviewedNo positioning snapshot available.
Snapshot · Not reviewed