First Brands Group debt targeted by Apollo Global Management - report
Investing.com -- Nektar Therapeutics shares jumped as much as 25% on Thursday, marking the largest intraday gain since June, after rival Sanofi released disappointing clinical trial data for its experimental atopic dermatitis treatment.
Piper Sandler analyst Yasmeen Rahimi described Sanofi’s data as showing "relatively underwhelming efficacy" compared to Nektar’s drug REZPEG. Rahimi stated this "reiterates REZPEG’s differentiated profile, further substantiating its competitive commercial potential across inflammatory diseases." The analyst maintained an overweight rating on Nektar, viewing the situation as a buying opportunity ahead of what they called a "catalyst-rich year."
Leerink Partners analyst Faisal A. Khurshid noted that Sanofi’s efficacy results "leaves room for up-and-coming approaches" from companies including Nektar, Kymera Therapeutics, and Apogee Therapeutics, whose approaches differ from Sanofi’s OX40 drug, amlitelimab.
"Given the competitive nature of the atopic dermatitis landscape, we think it is a positive that the OX40 class (at least as monotherapy) will not meaningfully shake up the treatment paradigm," Khurshid wrote.
Sanofi shares fell sharply following the release of the amlitelimab data.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.