Oct. 9 at 6:13 PM
BofA⬇️
$APGE's PT to
$82 from
$89 to reflect Wednesday's capital raise—made no changes to APG777 launch timing or PoS assumptions; Reiterated Buy.
$REGN $SNY
BofA said:
Next catalysts in 1Q after development timeline updates
APGE has narrowed guidance for the following APG777 (IL-13) readouts:
1) AD Ph 2 Part A 52-week maintenance readout now expected in 1Q26 (vs 1H-2026 previously),
2) asthma Ph 1b readout also now expected in 1Q26 (vs 1H-2026 previously), and
3) AD2 Part B 16-week readout now expected 2Q26 (vs mid-2026 previously).
APGE still guides for 2029 launch.
Other readouts are on track including APG279 (IL-13 + OX40Lcombination) Phlb proof of concept readout (vs. Dupixent) in AD (in 2H26) and APG777AD Ph 3 initiation (in 2H26).