Jul. 21 at 1:15 PM
Stifel reiterated
$ORKA Buy-
$47 after
$ORKA's disclosure of the IND clearance for ORKA-001 and then catching up w/ mgmt..
$ABBV $PTGX $JNJ #EADV25
UCBJY
$MLTX
Stifel said in its note: "We caught up with management who noted that the IND clearance was based on interim Ph1 data (safety/tolerability) and Ph2a sites are open and actively enrolling -- Ph1 results to be presented at #EADV in September.
Recall, ORKA-001 is a next-gen IL-23p19 which is designed to explore greater exposure and improved dosing vs. mega-blockbuster Skyrizi based on exploratory IST results in Psoriasis demonstrating superior efficacy/potential for remission in patients dosed with 4x the normal psoriasis dose (LINK).
Meanwhile,
$ORKA is on track to release Ph1 data for ORKA-002 (next-gen IL-17A/F mAb) by YE25 following a continued strong launch for Bimzelx and upcoming Ph3 data for
$MLTX's sonelokimab -- there is currently limited investor focus on
$ORKA as a player in the IL-17A/F space."
