Jan. 12 at 11:29 AM
Leerink reit'd
$ANAB OP/
$64 after
$RPRX &
$TEVA announced a funding agreement of up to
$500 million to accelerate devt of TEV-53408, TEVA's IL-15 monoclonal antibody.
We view this transaction as incrementally positive for ANAB, as it further validates the IL-15/CD122 axis and should benefit investor perception of this therapeutic class, including ANB033.
Under the agreement, RPRX will provide
$75 million to fund a Ph2b program, with an option to invest an additional
$425 million to support later-stage development.
Recall TEVA is advancing TEV-53408 in two ongoing studies: a Ph2 trial in celiac disease (CeD, N=48, est. PC Sep 2026, NCT06807463) and a Ph1 trial in vitiligo (N=36, est. PC May 2026, NCT06625177). TEV-53408 is designed with a 38-day half-life and is intended for quarterly or less frequent dosing. TEVA anticipates sharing results from TEV-53408 trials during 2026.
ANB033 is a CD122 antagonist which inhibits both the IL15 and IL2 signaling pathways. Maintain OP on ANAB shares.
