Bloom Burton & Co. Discusses Chinook Therapeutics (KDNY) BION-1301 Data

April 16, 2021 6:41 AM EDT
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Price: $17.70 -0.28%

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Bloom Burton & Co. analyst Antonia Borovina reiterated a Buy (1) rating and $40.00 price target on Chinook Therapeutics (NASDAQ: KDNY) after the company presented several posters at the International Society of Nephrology World Congress of Nephrology, which
included, most notably, proof of mechanism biomarker data in healthy volunteers (HVs) from its ongoing phase 1a/1b trial of BION-1301. The current readout includes levels of galactose-deficient IgA (Gd-IgA1), the pathogenic form of IgA that is elevated in IgAN patients and is an early driver of disease pathogenesis (leads to the production of anti-Gd-IgA1 autoantibodies and the formation of immune complexes that result in kidney damage). BION-1301 reduced serum Gd-IgA1 levels by -55% on Day 29 (after the first 2 doses of 450 mg vs +6% with placebo) and -70% on Day 85 of follow-up (vs +4% with placebo), which was greater in magnitude than the reductions in total IgA (-70% vs -55% at Day 85).

The analyst stated "The incrementally greater reduction in Gd-IgA1 vs total IgA is consistent with the mechanism of action of BION-1301, since APRIL has been implicated in the increased formation of Gd-IgA1 in IgAN patients, and is consistent with data reported to date for competitor, atacicept. It may also somewhat increase the therapeutic window of BION-1301, since IgA is involved in mucosal immunity, although reductions in total IgA have not linked to significant infection risk."

For an analyst ratings summary and ratings history on Chinook Therapeutics click here. For more ratings news on Chinook Therapeutics click here.

Shares of Chinook Therapeutics closed at $15.24 yesterday.

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