Sep. 4 at 5:15 PM
Oppenheimer reiterated
$IMVT Outperform/
$54.
$ROIV $ARGX $JNJ $VRDN AMGN RHHBY TAK TRML
Oppenheimer said:
$IMVT announced inspiring remission data in uncontrolled Graves' patients that showed a high rate of durable responses off batoclimab which the company detailed in a call w/slides.
About 80% (17/21) of patients followed after the positive Phase 2's treatment portion maintained normal thyroid hormone levels six months off bato, of whom ~half (8/17) achieved remission without anti-thyroid drugs.
These results not only underscore FcRn inhibition as a means to address the ~25-30% of Graves' patients relapsed/uncontrolled on/intolerant to ATDs, but also support wider use of this strategy as current therapies often do not provide lasting results.
We see positive read-through to next-gen IMVT-1402's ongoing registrational trials in Graves', to report in 2027, and see considerable upside as
$IMVT executes on 1402's broad clinical development program.
