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Dravet Syndrome: 3 biotech companies with clinical-stage programmes

Neurology & PsychiatryConcentrated betData as of 2026-09-04

Competitors3in the clinic
Median market cap$2.4Buniverse median $1.20B
Allocated capital$4.2B$14.0B competing
Phase 3 or filed20 mid, 1 early
Pure plays1this indication only
Capital rank44/299crowding rank 58

Dravet Syndrome is a concentrated bet: only 3 US-listed developers are in the clinic, and the median one is worth $2.4B against a $1.20B universe median.

Scarcity is doing the work in that number. A thin field means an approval is shared with fewer rivals, and the market pays a premium for that position.

IONS carries 69% of the $14.0B competing here, more than the other 2 companies combined.

$4.2B of allocated capital sits in Dravet Syndrome, 44th of 299 indications, and 1 of the 3 companies are pure plays that trade on this indication alone.

Companies developing drugs for Dravet Syndrome 3

TickerCompanyLead assetPhaseTrialsMarket capPure playIndicationsNext catalyst
HRMYHarmony Biosciences HoldingsClemizolePhase 31$2.4BNo2 31 Dec 2026
STOKStoke TherapeuticszorevunersenPhase 32$1.9BYes1 6 Sep 2026
IONSIonis PharmaceuticalsION337Phase 11$9.7BNo9 22 Sep 2026

Sorted by phase, then by market capitalisation. Ticker links open the company profile. IONS holds 69% of the $14.0B competing in this indication.

Why Dravet Syndrome is a concentrated bet

Few competitors, each one large. The market pays a scarcity premium to compete here.

The map splits indications on two folds: six or more competitors counts as crowded, and a median company above $1.20B counts as richly priced. Dravet Syndrome has 3 competitors and a median of $2.4B.

Neurology & Psychiatry

Neurology & Psychiatry holds $120B of the map's capital, 17.9% of the total, spread across 46 indications and 58 companies. 19 of those indications have more than one company competing.

See every Neurology & Psychiatry indication on the map

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Dravet Syndrome pipeline questions

Which biotech companies are developing drugs for Dravet Syndrome?

Harmony Biosciences Holdings (HRMY, Clemizole, Phase 3); Stoke Therapeutics (STOK, zorevunersen, Phase 3); Ionis Pharmaceuticals (IONS, ION337, Phase 1). Those are the 3 US-listed developers in the $100M to $20B market cap band with a clinical-stage programme in Dravet Syndrome.

How advanced is the Dravet Syndrome pipeline?

Of the 3 clinical-stage programmes in Dravet Syndrome, 2 are in Phase 3 or filed, 0 are in mid-stage development and 1 is in early-stage development.

Which company leads the Dravet Syndrome field?

IONS is the largest developer in Dravet Syndrome, holding 69% of the $14.0B of market capitalisation competing in the indication. The median competitor is worth $2.4B.

When is the next Dravet Syndrome catalyst?

The next dated catalyst in Dravet Syndrome is STOK on 6 Sep 2026. 3 dated events across the field fall in the next 12 months.

How this page is built

  • Universe is US-listed drug developers with a $100M to $20B market capitalisation, identified by SEC SIC code 2833, 2834 or 2836 or by a pharmaceutical or biotechnology industry classification, less a reviewed exclusion list of contract research organisations, device and diagnostics makers and diversified generics manufacturers.
  • An asset attributed to three or more different companies is treated as shared standard of care rather than any one company’s programme and excluded. Pembrolizumab alone appears under 21 tickers in raw trial data.
  • A programme counts only where at least one industry-sponsored trial supports it, so investigator-initiated academic studies of third-party drugs are excluded.

Allocated capital divides each company’s market capitalisation evenly across the indications it is running clinical programmes in, so every dollar of the universe is counted exactly once. Total market capitalisation competing counts a company in each of its indications and therefore sums to more than the universe.

Third-party market size estimates are not used anywhere on this page. Approved incumbents are excluded from competitor counts, and companies above $20B are outside the universe by construction.

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