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Cantor On MoonLake Immunotherapeutics - Initiates On Inexpensive Valuation, Strong Catalyst Path

Cantor On MoonLake Immunotherapeutics - Initiates On Inexpensive Valuation, Strong Catalyst Path

康托爾論 MoonLake 免疫治療藥物-啟動廉價的估值,強大的催化劑路徑
Benzinga Real-time News ·  2023/02/14 13:02
  • Cantor Fitzgerald has initiated coverage on MoonLake Immunotherapeutics AG (NASDAQ:MLTX) with an Overweight rating and a price target of $23.
  • MoonLake's lead program Sonelokimab or SLK (IL-17A & IL-17F nanobody), is currently in Phase 2 trials in Hidradenitis Suppurativa (HS-severe skin disease) and Psoriatic Arthritis (PsA).
  • A more than $5 billion opportunity for SLK in HS is the primary driver of the analyst's bullish view.
  • Also See: HC Wainwright Starts Coverage On This 'Best-In-Class Agent For Inflammatory Disorders.
  • After recent positive phase 3 trials from competitor IL-17 injectables, Novartis AG's (NYSE:NVS) Cosentyx and UCB SA's (OTC:UCBJY) (OTC:UCBJF) Bimekizumab raise the analyst's confidence that SLK will work in HS and will likely raise the efficacy bar.
  • Approval of IL-17 injectables over the next few years will significantly expand the HS market, and SLK could be a ~$1.5 billion drug.
  • SLK is also de-risked in PsA. In September, FDA signed off Phase 2 study of sonelokimab for active psoriatic arthritis.
  • This is a good entry point and timing for buying MLTX shares. The valuation is inexpensive relative to other immunology peers and has a strong catalyst path over the next 12 months.
  • Price Action: MLTX shares are up 4.79% at $17.08 on the last check Tuesday.
  • 康托·菲茨杰拉德 已啟動保障 月湖免疫治療 AG (納斯達克:MLTX)具有超重評級和目標價格為 23 美元。
  • 月湖的主導計劃索尼洛基單抗或 SLK(IL-17A 和 IL-17F 納米體)目前正在進行第二期試驗,包括 HS-嚴重皮膚病(HS-嚴重皮膚病)和銀屑病關節炎(PSA)。
  • SLK 在 HS 擁有超過 50 億美元的機會,是分析師看漲觀點的主要驅動因子。
  • 另請參閱: HC 溫賴特開始對這種「一流的炎症性疾病劑」的覆蓋
  • 在最近從競爭對手 IL-17 注射劑獲得積極的 3 期試驗之後, 诺华公司 (紐約證交所代碼:NVS) 結核酸和 UCB OTC:UCBJY)(OTC:UCBJF)比美珠單抗提高分析師的信心,認為 SLK 將在 HS 工作,並可能會提高功效標準。
  • IL-17 注射劑在未來幾年的批准將顯著擴大 HS 市場,SLK 可能是一種約 15 億美元的藥物。
  • SLK 在 PSA 中也降低了風險。9 月,美國食品藥物管理局簽署了對活動性牛皮癬性關節炎的第二階段研究。
  • 這是購買 MLTX 股票的良好切入點和時機。相對於其他免疫學同行,估值便宜,並且在接下來的 12 個月中具有強大的催化劑路徑。
  • 價格行動: 在星期二上次檢查中,MLTX 的股票上漲了 4.79%,價格為 17.08 美元。
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