Goldman Sachs analyst Salveen Richter initiates coverage on Latigo Biotherapeutics and Braveheart Bio, citing significant clinical potential and large addressable markets for their respective pain and cardiovascular drug candidates.
Latigo Biotherapeutics is a clinical-stage firm focused on non-opioid pain relief, with its lead candidate onzotrigine (LTG-001) showing strong Phase 2b results in abdominoplasty trials. Goldman Sachs analyst Salveen Richter highlights the drug's potential to capture market share from opioids, supported by the de-risking of the NaV1.8 inhibitor class by Vertex's Journavx. The $73 price target reflects confidence in the upcoming Phase 3 trials and the significant commercial opportunity for an opioid-free pain treatment.
Onzotrigine is an orally bioavailable small molecule that acts by selectively inhibiting NaV1.8 to treat moderate to severe acute pain.
Latigo focuses on developing non-opioid medications to provide effective pain relief without the addictive risks associated with traditional opioids.
The 2026 IPO market is showing renewed strength, with over $114 billion raised in the first half of the year. Goldman Sachs analyst Salveen Richter has highlighted two clinical-stage biopharmaceutical companies, Latigo Biotherapeutics and Braveheart Bio, as promising under-the-radar opportunities for investors seeking long-term growth in the healthcare sector.
The firm believes Latigo's lead drug, onzotrigine, addresses a critical unmet need for non-opioid pain relief, with the NaV1.8 inhibitor class already de-risked by competitor approvals.
Braveheart is targeting the hypertrophic cardiomyopathy market, which affects approximately 1 in 200 people globally and remains underpenetrated despite existing cardiac myosin inhibitor treatments.