Sep. 17 at 7:54 PM
BTIG raised the price target on
$ORKA to
$56 from
$44, reiterated at Buy and said, interim Phase 1 HV results of ORKA-001 (anti-IL-23 mAb) confirmed best-in-class half-life of~100 days, far exceeding our prior expectation of 50-75 days and >3x longer than Skyrizi.
This confirmed half-life is expected to enable Q12M dosing, which we view as a meaningful improvement from Skyrizi's Q3M dosing regimen.
ORKA-001 also demonstrated a Cmax that exceeded Skyrizi at an equivalent dose, supporting ORKA-001's potential to deliver comparable exposures to the KNOCKOUT study (showed higher than approved Skyrizi doses translated to greater efficacy without additional safety concerns), which we expect to translate into greater efficacy.
$ABBV $UCBJY $PTGX $JNJ
BTIG went on to say:
