Myovant Sciences (MYOV) recently announced the presentation of positive data from a Phase I trial of MVT-602, a novel kisspeptin-1 receptor agonist in development as a potential treatment for female infertility in women as part of assisted reproduction, such as in vitro fertilization (IVF), explains John McCamant, editor The Medical Technology Stock Letter. 

Results of the study showed that administration of MVT-602 in healthy pre-menopausal women in the follicular phase produced a dose-related increase in luteinizing hormone concentrations and expected effects on follicle-stimulating hormone and estradiol.

The findings were presented during an oral session at the American Society for Reproductive Medicine (ASRM) Annual Congress in Denver, CO). Administration of a single dose of MVT-602 resulted in dose-related increases in luteinizing hormone concentrations suggesting MVT-602 has potential as a trigger for final egg maturation during in vitro fertilization (IVF).

With approximately 1.6 million ART treatments (including IVF and intracytoplasmic sperm injection) performed worldwide each year for infertility, the opportunity for ‘602 is tremendous.  The IVF procedure consists of several steps that take place over a period of weeks.

Hormonal stimulation of the ovaries is used to produce several eggs, final egg maturation is induced using a trigger agent, and the eggs are subsequently retrieved and fertilized with sperm to allow an embryo to form. One or more of the embryos is transferred into the uterus with the goal of successful implantation and pregnancy.

Approximately 27% of IVF cycles will end in a live birth, with the cumulative chances of success higher when more than one cycle of IVF is performed. A woman’s chance of success depends on her age, cause of infertility, treatment approach and other factors.

MVT-602 is an intriguing asset that is basically a free wildcard in the MYOV valuation.  MYOV is primarily valued on its de-risked Phase III asset relugolix which will be second to market after Orilissa — from AbbVie (ABBV) — for the treatment of heavy menstrual bleeding related with uterine fibroids and endometriosis-associated pain. 

There is more than enough room for multiple players as the market is estimated to be $12 billion for the US and EU combined. MYOV is a buy under $17 with a target price of $25.

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