Nov. 18 at 11:39 AM
Evercore ISI🏁
$UPB Outperform/
$40
$REGN -
$SNY $AZN -
$AMGN
Evercore ISI in its initiation report said:
UPB's sole program, verekitug, is going after multi-billion-$ indications (i.e. asthma, COPD) that have
made drugs like REGN's Dupixent & AMGN/AZN's Tezspire into well-known blockbusters.
Verekitug taps a validated MOA, offers a more convenient dosing schedule, and could potentially enable superior efficacy over current TSLP targeting agents.
Recent positive clinical results from the VIBRANT Ph2 trial in CRSwNP further validates verekitug's pot'I.
With a key Ph2 asthma readout (VALIANT) on tap for 1Q26, strong data could be a meaningful upside catalyst. Initiate OP;
$40 YE26 PT.