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Pelizaeus Merzbacher Like Disease: one US-listed biotech with a clinical-stage programme

Neurology & PsychiatryUncontestedData as of 2026-09-04

Competitors1in the clinic
Median market cap$9.7Buniverse median $1.20B
Allocated capital$1.1B$9.7B competing
Phase 3 or filed00 mid, 1 early
Pure plays0this indication only
Capital rank146/299crowding rank 160

Pelizaeus Merzbacher Like Disease is uncontested. Ionis Pharmaceuticals (IONS) is the only US-listed developer in the $100M to $20B band running a clinical programme here, with ION356 in phase 1.

There is no public comparable to price it against. IONS spreads its $9.7B market cap across 9 indications, so $1.1B of it is allocated here.

Nothing here has reached Phase 3: 0 programmes in mid stage and 1 in early stage, so the field is still several years from a first approval.

$1.1B of allocated capital sits in Pelizaeus Merzbacher Like Disease, ranking it 146th of 299 indications by the money committed to it.

Companies developing drugs for Pelizaeus Merzbacher Like Disease 1

TickerCompanyLead assetPhaseTrialsMarket capPure playIndicationsNext catalyst
IONSIonis PharmaceuticalsION356Phase 11$9.7BNo9 22 Sep 2026

Sorted by phase, then by market capitalisation. Ticker links open the company profile.

Why Pelizaeus Merzbacher Like Disease counts as uncontested

Uncontested. One US-listed developer in the size band is running a clinical programme here, so there is no public comparable to price it against.

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. Pelizaeus Merzbacher Like Disease has one competitor and a median of $9.7B.

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

Related indications in Neurology & Psychiatry

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Pelizaeus Merzbacher Like Disease pipeline questions

Which biotech companies are developing drugs for Pelizaeus Merzbacher Like Disease?

Ionis Pharmaceuticals (IONS, ION356, Phase 1). Those are the 1 US-listed developer in the $100M to $20B market cap band with a clinical-stage programme in Pelizaeus Merzbacher Like Disease.

How advanced is the Pelizaeus Merzbacher Like Disease pipeline?

Of the 1 clinical-stage programme in Pelizaeus Merzbacher Like Disease, 0 are in Phase 3 or filed, 0 are in mid-stage development and 1 is in early-stage development.

Is anyone else developing a drug for Pelizaeus Merzbacher Like Disease?

No. IONS is the only US-listed company in the $100M to $20B market cap band with a clinical-stage programme in Pelizaeus Merzbacher Like Disease, which is why the indication is classified as uncontested.

When is the next Pelizaeus Merzbacher Like Disease catalyst?

The next dated catalyst in Pelizaeus Merzbacher Like Disease is IONS on 22 Sep 2026. 1 dated event 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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