Sep. 3 at 4:40 PM
Baird⬆️
$CLYM's PT to
$25 from
$21, keeps at
Outperform and said -- Raising target on differentiated PK/PD data.
$JBIO $VERA TVTX OTSKY NVS VRTX TAK IONS ALNY - REGN
Baird added—The Ph1 data for CLYM116 are encouraging, with near-complete APRIL suppression and impressive reductions in IgA and Gd-IgA1 in healthy volunteers.
We think this suggests a profile that is likely similar to earlier-gen anti-APRILs but with a substantially longer half life.
With initial Ph2 data 1H27 and a planned 2027 Ph3 initiation, we see a nice pacing of data for the program.
We're raising our probability of success to 50% on the proof of concept, bringing our price target to
$25/shr.
