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Investing.com - Clear Street initiated coverage on ArriVent BioPharma (NASDAQ:AVBP), which recently completed its IPO in January 2024, with a Buy rating and a $32.00 price target on Tuesday.
The research firm cited firmonertinib, ArriVent’s third-generation EGFR TKI and sole clinical asset, which has demonstrated validation through approximately four years of commercial success in China for classical EGFR non-small cell lung cancer mutations. InvestingPro subscribers can access detailed analysis of newly listed biotech companies, including comprehensive financial metrics and expert insights.
Clear Street noted that firmonertinib delivers efficacy comparable to osimertinib and lazertinib while exhibiting potentially best-in-class activity in atypical EGFR mutations.
The firm highlighted ArriVent’s strategic focus on underserved first-line P-loop, αC-helix, compressing (PACC) mutations and EGFR exon20ins markets, with pivotal data from the exon20ins Phase 3 trial expected in the second half of 2025.
Clear Street estimates risk-adjusted worldwide peak sales of $1.1 billion ($800 million from exon20ins, $290 million from PACC) compared to ArriVent’s current enterprise value of $586 million, with the company holding $205.5 million in cash. For deeper insights into biotech valuations and peer comparisons, explore InvestingPro’s extensive financial analysis tools.
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