Climb Bio stock price target raised to $8 from $7 at BTIG on CLYM116 potential

Investing.com - BTIG raised its price target on Climb Bio (NASDAQ:CLYM) to $8.00 from $7.00 on Tuesday, while maintaining a Buy rating on the biotech company’s stock. The new target aligns with the broader analyst consensus, which ranges from $7 to $10. According to InvestingPro data, the stock appears fairly valued at its current market cap of $135 million, despite showing strong momentum with a 63% gain over the past six months.

The research firm cited new preclinical data that further supports the potential best-in-class features of CLYM116, Climb Bio’s APRIL inhibitor being developed for IgA nephropathy (IgAN). BTIG noted that CLYM116 demonstrated a half-life approximately 2-3 times longer than competitor sibeprenlimab in non-human primates. The company maintains a strong financial position to support its development programs, with InvestingPro analysis showing a healthy current ratio of 14.08 and more cash than debt on its balance sheet.

BTIG estimates the IgAN market represents a $10-20 billion opportunity in the US at maturity and expects APRIL inhibitors to command first-line positioning when the class enters the market. Sibeprenlimab, developed by Otsuka (TYO:4578), has a PDUFA date of November 28, 2025.

The firm increased its probability of success for CLYM116 in IgAN to 65% from 55%, noting that greater APRIL clearance with CLYM116 appeared to translate into improved IgA reductions, which correlates strongly with proteinuria, a regulatory endpoint for accelerated approval.

Climb Bio management plans to present additional preclinical data for CLYM116 at a future medical meeting and initiate a Phase 1 healthy volunteer study in the fourth quarter of 2025, with initial data expected in mid-2026.

In other recent news, Climb Bio, Inc. announced promising preclinical data for its experimental antibody, CLYM116. The company reported that CLYM116 demonstrated superior performance compared to a first-generation anti-APRIL monoclonal antibody in studies involving nonhuman primates. Specifically, CLYM116 showed a longer half-life and achieved a deeper IgA reduction than sibeprenlimab, a previous treatment option. The data revealed that after a single subcutaneous dose, CLYM116 achieved more than 70% maximal reduction in IgA levels. These developments are part of Climb Bio’s efforts to advance treatment options for IgA nephropathy, a kidney disease. The promising results from these preclinical studies highlight the potential of CLYM116 as a more effective treatment. Investors and stakeholders are likely to watch for further updates as the company progresses with its research.

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