Aegis Capital Affirms Corbus Pharma (CRBP) at 'Buy' Following Strong Resunab Phase 2 Data
- Consumer staples stocks help Wall St. pare some losses
- BAT Reaches Deal to Acquire Reynolds American (RAI) for $49 Billion
- Verizon Communications (VZ) May Acquire Big Cable Company - NYP (CHTR) (CMCSA)
- Citron Research Negative on Lannett (LCI); Sees Shares at 'Zero' Over Long Term
- Einhorn's Greenlight Mentions Caterpillar (CAT) Short in Q4 Letter; Doesn't See Disney (DIS) Buying Netflix (NFLX)
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Aegis Capital affirms Corbus Pharmaceuticals Holdings, Inc. (Nasdaq: CRBP) at Buy with a price target of $12 after the company announced positive topline results from its Phase 2 study evaluating Resunab for the treatment of diffuse cutaneous systemic sclerosis.
The firm commented today,
We view the results as clinically significant both in scleroderma and as proof-of-concept for Resunab's mechanism of action. We believe this bodes well for the additional trials in cystic fibrosis and dermatomyositis that are expected to report results over the next six to nine months.
A point we found interesting is that the entry criteria included patients who had had the disease for longer than three years and up to six years. In this phase of disease, the patients have increased fibrosis relative to their inflammation. Resunab is believed to act through upregulation of the resolution pathway, decreasing both inflammation and fibrosis. Data showing efficacy in these more advanced cases supports this mechanism and the dosing used, the analyst noted.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Corbus Pharma (CRBP) Receives UE Orphan Designation for JBT-101 for Treatment of Systemic Sclerosis
- Alcobra (ADHD) PT Cut to $1.50 at Piper Jaffray as MDX P3 Misses
- Zendesk (ZEN) Falls as JMP Checks Suggest Q4 Bookings May Disappoint
Create E-mail Alert Related CategoriesAnalyst Comments, FDA
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!