Jun. 20 at 12:42 PM
Stifel reiterated
$APGE Buy-
$95 and said "We are reiterating our Buy rating on
$APGE ahead of upcoming Ph2a data in Atopic Dermatitis for APG777
following today's posting of the APG777+APG990 H2H study vs. Dupilumab on (LINK).
$LLY $REGN $SNY $CRVS
Stifel additionally said, "As highlighted in our recent preview, we think APG777 is highly likely to succeed in Ph2a given
1) the derisked IL-13 MOA, and
2)
$APGE's focus on trial execution. To that end,
we think the initiation of the combo study implies further confidence in a successful outcome of the Ph2a, removing greater downside risk of an outright failure, meaningful safety concerns, or a mediocre result requiring further dose exploration.
Bottom line, we continue to view an outcome achieving at least comparable efficacy to Dupixent/Ebglyss as a win given the result derisks development not just within the large, growing AD market, but within Th2 diseases broadly.
We expect data within the next few weeks by our estimation."
