@PRVWatch

Tracking FDA Priority Review Voucher (PRV) issuances, sales, redemptions and other FDA/Biotech news.

prvwatch.com
Joined January 2025
  • Tweets480
  • Following77
  • Followers688
98Media
GSK's Jemperli gets approval under the FDA Commissioner's National Priority Voucher program. FDA stated this was the 11th approval under the program but 12 of the drugs awarded have been approved. This confirms to me the Tzield approval from June wasn't actually via the program.
PRV Watch
@PRVWatchJun 13
Sanofi $SNY receives approval for Tzield (teplizumab) to treat pediatric stage 3 T1D. Sanofi was awarded a Commissioner's National Priority Voucher for this indication but its unclear if this approval was still under the CNPV program as the decision has been delayed for months.
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Theranos value preposition from their 2006 pitchdeck. Removing black boxes is wild 😳
Dan Primack
@danprimackOct 18
Artifact: On the day we launched Axios, I published a Theranos pitchdeck from 2006. axios.com/2017/12/15/exclusi…

Exclusive: Theranos 2006 pitch deck

Long before Theranos became the poster child hubris, it was just a promising young startup in search of investors.

axios.com
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The comparison of Dave’s tweets and CEOs from other companies is stark. You can tell his are true thoughts vs corporate messages undergone 10 revisions.
Dave A Ricks
@DaveARicksOct 19
One month (or so) on @X , a platform unlike any other. Energy, speed, smarts and stupidity. -The best thing in BioX - Rapid and divergent takes on new clinical data, on balance usually right..wisdom of crowds -The worst thing on BioX - Shameless replies and reposts pumping your own book, praying for M&A about your favorite name, plane stalking…do people actually think this is how a real drug company or serious investor makes decisions? Maybe it just makes you feel like you have some agency, then ok.
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Pro dashboards almost there v0.5. (demo with dummy data)
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Looking back at my poll from January, wonder what the peak will be this year, still a few months left.
PRV Watch
@PRVWatchJan 19
How high do you think Priority Review Voucher prices will go in 2026?
32%$150M-$199M
26%$200M-$249M
15%$250M-$299M
26%>$300M
34 votes • Final results
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Just a week later, Ultragenyx $RARE sell their second Priority Review Voucher for $203M
PRV Watch
@PRVWatchOct 7
Ultragenyx $RARE sell their PRV for $210M, PRV prices holding strong
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Inspired by @dave_ridley’s recent paper in Nature on the value of accelerating drug approvals, I’ve added an analysis (purple line) using my dataset to the chart. It suggests a trend that the number of PRVs available for sale is a key driver of PRV prices.
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Eli Lilly's $LLY retatrutide estimate filing is Q1 2027. Will the FDA give them a Commissioner's National Priority Voucher to expedite approval?
43%Yes
57%No
14 votes • Final results
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Ultragenyx $RARE sell their PRV for $210M, PRV prices holding strong
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and they still have another PRV they can monetize
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Pro dashboards coming along v0.2
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Interesting approach, commitment to returning 25% of a potential future PRV sale directly to shareholders.
Atossa Therapeutics
@atossaincSep 29
Atossa Therapeutics Announces Plan to Issue Stapled CVR for Shareholders Tied to Potential Rare Pediatric Disease Priority Review Voucher. Read more: bit.ly/4AUcmQ2 $ATOS
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The 5th rare disease priority review voucher issued THIS MONTH!!
PRV Watch
@PRVWatchSep 28
Egetis Therapeutics receives FDA approval today for Emcitate (tiratricol) to treat peripheral thyrotoxicosis in patients with Allan-Herndon-Dudley syndrome. With this approval Egetis is awarded a Rare Pediatric Disease Priority Review Voucher.
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Egetis Therapeutics receives FDA approval today for Emcitate (tiratricol) to treat peripheral thyrotoxicosis in patients with Allan-Herndon-Dudley syndrome. With this approval Egetis is awarded a Rare Pediatric Disease Priority Review Voucher.
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See a lot of press releases from tiny biotechs touting their assets future eligibility for a priority review voucher. Almost all still quote >$100M as market value for a PRV. Are they not tracking the PRV market, surely mentioning >$200M is more attractive.
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Attended a talk about carbon credits today, a lot of parallels weirdly with the priority review voucher program. - without financial incentive, companies wouldn’t address the need - the concept has led to new companies forming to capitalize - traded between companies and available supply dictates price - smaller companies create and large ones buy for commercial benefit
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The year isn’t over yet and there have been more rare pediatric disease priority review vouchers issued in 2026 than any year previously. Novel rare pediatric disease drug development in full swing 🚀
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Mirum Pharmaceuticals, Inc. $MIRM and Incyte $INCY get FDA approval for Atebrioz (zilurgisertib) in fibrodysplasia ossificans progressiva (FOP). With this approval Incyte was awarded a rare pediatric disease priority review voucher.
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Did a review of licensing agreements to see how PRVs are valued in the market. Almost all use the average of the last three public PRV sales as the market value. I was expecting something more robust than this.
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Was lovely to meet some of you over the last week in DC and NY. Back in a few weeks to BOS and NY. Think I’ll need to make a FAQ for my website, first question being ‘Why does this British guy care about PRVs’ 😂
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