Quantumup
Sep 9, 10:42 AM
Baird reiterated
$SYRE Outperform-
$116 and said -- Incrementally positive on SPY003 results.
$PTGX - JNJ ABBV
$ABVX MRK TVRD
Baird added—SPY003's positive data in ulcerative colitis does not come as much of a surprise, given the IL-23 inhibitor mechanism has been clinically validated by multiple other assets, but does continue to build on the body of data supporting Spyre's extended-interval treatment options for IBD.
The most meaningful data for the core thesis will come in 2027 when we see combination data across Spyre's three mechanisms of focus (a4ẞ7, TL1A, IL-23) in a larger, placebo-controlled study (SKYLINE Part B).
