Aug. 4 at 8:20 AM
$MLTX The market penetration for PsA will be tough. Adalimubab demonstrated impressive ACR50 of 46% and 42.9% against Bimzelx’s Phase 3 BE OPTIMAL and SLK’s Phase 2 ARGO.
A bullish thesis for MLTX’s Phase 2 ARGO is drawn from its achievement of 46% at 12 weeks, surpassing most trials with ACR50 readings at 16 weeks. However, ARGO's n was small and placebo was strong.
Furthermore, ACR50 alone is not a sufficient indicator to win the market. Adalimubab, a TNF inhibitor available since 2002, offers affordability through biosimilars and enjoys widespread acceptance among payers. Skyrizi may exhibit slight limitations in ACR50 compared to Bimzelx, but it performs exceptionally well on PASI and is favoured by patients and physicians mainly for its convenience.
Hence, the scepticism on MLTX. It doesn’t mean SLK won’t gain market share, as many patients switch biologics around when their current treatment stops working.
However, the current MC is still dead cheap and that's why I am buying.
