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Investing.com - Artiva Biotherapeutics (NASDAQ:ARTV), currently trading at $2.77 and showing strong analyst support with a consensus "Strong Buy" rating, has prioritized refractory rheumatoid arthritis (reRA) as the lead autoimmune indication for its AlloNK (AB-101) clinical development program, according to a corporate update released Wednesday.
The company announced that the U.S. Food and Drug Administration (FDA) has granted Fast Track Designation to AlloNK in combination with rituximab for reRA treatment, making it the first deep B cell depleter to receive this designation. According to InvestingPro data, Artiva maintains a strong liquidity position with a current ratio of 13.84 and more cash than debt on its balance sheet, though the company is currently burning through cash rapidly.
H.C. Wainwright reiterated a Buy rating on Artiva stock with a $12.00 price target following the announcement, noting the significant unmet need among the more than 100,000 U.S. patients with RA who are refractory to all approved therapies.
Artiva’s unmodified, "off-the-shelf" AlloNK cells are designed to enhance the activity of B cell depleting antibodies through antibody-dependent cellular cytotoxicity (ADCC), potentially driving deeper and more durable patient responses.
The Fast Track Designation underscores the potential importance of Artiva’s approach in addressing the treatment challenges for patients with refractory rheumatoid arthritis who have not responded to existing therapies including methotrexate, TNF inhibitors, and B cell depleting antibody monotherapy. For a comprehensive analysis of Artiva’s financial health and growth potential, including 8 additional key ProTips, check out the detailed Pro Research Report available on InvestingPro.
In other recent news, Artiva Biotherapeutics announced that its cell therapy candidate, AlloNK, has received Fast Track Designation from the U.S. Food and Drug Administration for the treatment of refractory rheumatoid arthritis (RA) in combination with rituximab. This designation marks AlloNK as the first drug candidate in the deep B-cell depleting therapeutic category to achieve such status for refractory RA. The company has identified refractory RA as the primary focus for AlloNK, aiming to enhance B-cell-targeting antibodies through antibody-dependent cellular cytotoxicity. Artiva Biotherapeutics is developing AlloNK, also referred to as AB-101, to address patients who no longer respond to conventional RA treatments. These developments highlight Artiva’s strategic focus on advancing treatments for challenging conditions.
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