Rare Genetic & MetabolicConcentrated betData as of 2026-09-04
Hereditary Angioedema is a concentrated bet: only 5 US-listed developers are in the clinic, and the median one is worth $2.6B 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.
4 of the 5 are in Phase 3 or filed, and 3 dated catalysts fall in the next 12 months, so this ranking is likely to move.
$8.3B of allocated capital sits in Hereditary Angioedema, 21st of 299 indications, and 1 of the 5 companies are pure plays that trade on this indication alone.
| Ticker | Company | Lead asset | Phase | Trials | Market cap | Pure play | Indications | Next catalyst |
|---|---|---|---|---|---|---|---|---|
| IONS | Ionis Pharmaceuticals | Donidalorsen | Phase 3 | 2 | $9.7B | No | 9 | 22 Sep 2026 |
| BCRX | BioCryst Pharmaceuticals | Berotralstat | Phase 3 | 2 | $2.6B | Yes | 1 | No dated event |
| PHVS | Pharvaris | Deucrictibant | Phase 3 | 3 | $2.3B | No | 2 | 30 Sep 2026 |
| NTLA | Intellia Therapeutics | NTLA-2002 | Phase 3 | 2 | $1.8B | No | 2 | 31 Dec 2026 |
| BMRN | BioMarin Pharmaceutical | Dose 1 of BMN 331 | Phase 1 | 1 | $12.9B | No | 5 | No dated event |
Sorted by phase, then by market capitalisation. Ticker links open the company profile. BMRN holds 44% of the $29.2B competing in this indication.
Few competitors, each one large. The market pays a scarcity premium to compete here.
Rare Genetic & Metabolic holds $103B of the map's capital, 15.3% of the total, spread across 32 indications and 48 companies. 10 of those indications have more than one company competing.
See every Rare Genetic & Metabolic indication on the mapIonis Pharmaceuticals (IONS, Donidalorsen, Phase 3); BioCryst Pharmaceuticals (BCRX, Berotralstat, Phase 3); Pharvaris (PHVS, Deucrictibant, Phase 3); Intellia Therapeutics (NTLA, NTLA-2002, Phase 3); BioMarin Pharmaceutical (BMRN, Dose 1 of BMN 331, Phase 1). Those are the 5 US-listed developers in the $100M to $20B market cap band with a clinical-stage programme in Hereditary Angioedema.
Of the 5 clinical-stage programmes in Hereditary Angioedema, 4 are in Phase 3 or filed, 0 are in mid-stage development and 1 is in early-stage development.
The median company developing a drug for Hereditary Angioedema is worth $2.6B, against a median of $1.20B across the whole universe. $8.3B of allocated capital sits in the indication, ranking it 21st of 299.
The next dated catalyst in Hereditary Angioedema is IONS on 22 Sep 2026. 3 dated events across the field fall in the next 12 months.
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.
Back to the disease map