Original-Research: Pentixapharm Holding AG (von NuWays AG): BUY

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Original-Research: Pentixapharm Holding AG - from NuWays AG

15.07.2026 / 09:00 CET/CEST

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Classification of NuWays AG to Pentixapharm Holding AG

Company Name: Pentixapharm Holding AG

ISIN: DE000A40AEG0

Reason for the research: Initiation

Recommendation: BUY

Target price: EUR 7.2

Target price on sight of: 12 months

Last rating change:

Analyst: Simon Keller

A major diagnostic market opening. Pentixapharm is the way to play it.

In July 2025, Endocrine Society delivered the most consequential catalyst

for Pentixapharm's late-stage diagnostic asset PentixaFor. Recognising the

structural under-diagnosis of primary aldosteronism (PA), updated guidelines

now recommend universal screening of all patients with hypertension, rather

than restricting testing to traditionally defined high-risk groups. PA is

dangerous if missed, but very treatable when detected early. Following

detection, patients are subtyped as curable by a single surgery or as

victims of lifelong medication. This important subtyping "tool" exists; it's

called adrenal vein sampling (AVS).

But here's the catch: this solution is also part of the problem. AVS is

invasive, technically challenging and can yield variable results depending

on operator skill. Neither physicians, nor patients find it appealing.

Together with historically sparce screening under the old guidelines is

exactly why it is rarely used. The result: millions of eligible patients

never get to the cure and spend a fortune on lifelong medications. However,

the two major adoption bottlenecks - low screening rates and the limited

appeal of subtyping - are on the verge of breaking.

Enter PentixaFor: a simple, non-invasive and easy to scale PET scan.

Unsurprisingly, 96% of Phase 2 patients preferred this method over AVS. Now,

it is Phase 3-ready, backed by substantial prior clinical evidence and

strong regulatory support, including FDA Fast Track and EMA PRIME status. To

comfortably proceed with the trial, the company just announced a rights

issuance targeting c. EUR 20m in proceeds at EUR 1.85/share.

The recommended blanket screening approach under the new guidelines and the

emergence of a scalable subtyping alternative are set to open the floodgates

for broader patient screening. In fact, the annual pool of patients eligible

for subtyping is seen to expand by more than 8x to c. 561,000 patients in

the US and EU, driven by a much wider eligibility and high screening

frequency (eNuW).

The combination of a large addressable market and favorable economics of a

first-in-class diagnostic in an unmet need creates a highly compelling

commercial opportunity. We estimate peak sales at EUR >1bn by 2039.

Our risk-adjusted NPV-based valuation yields a PT of EUR 7.20, implying c.

270% upside. BUY.

You can download the research here:

https://nwr.eqs-cockpit.com/fncls2.ssx?fn=redirect&u=1dd1d0399366408600f180294176cc0e

For additional information visit our website:

https://www.nuways-ag.com/research

Contact for questions:

NuWays AG - Equity Research

Web: www.nuways-ag.com

Email: research@nuways-ag.com

LinkedIn: https://www.linkedin.com/company/nuwaysag

Adresse: Mittelweg 16-17, 20148 Hamburg, Germany

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Diese Meldung ist keine Anlageberatung oder Aufforderung zum Abschluss

bestimmter Börsengeschäfte.

Offenlegung möglicher Interessenkonflikte nach § 85 WpHG beim oben

analysierten Unternehmen befindet sich in der vollständigen Analyse.

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2365974 15.07.2026 CET/CEST

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