H.C. Wainwright Reiterates Buy Rating on Connect Biopharma Holdings Ltd (CNTB)

H.C. Wainwright analyst Brandon Folkes reiterated a Buy rating and $7.00 price target on Connect Biopharma Holdings Ltd (NASDAQ: CNTB).

The analyst commented: "When we look at the NEJM publication with Seabreeze COPD data in hand we view it as strengthening CNTB's request to the FDA to design acute asthma and COPD trials with differing primary endpoints. In asthma, rademikibart produced the expected rapid and statistically significant improvement in FEV1 by Day 7, supporting FEV1 as a logical Phase 3 endpoint. In COPD, however, the most compelling rademikibart effects were an 81% reduction in treatment failure, 85% reduction in new moderate/severe exacerbations, and elimination of hospital/ED returns, while Day-7 FEV1 did not differentiate. We believe the NEJM tozorakimab data provide important external validation that this disconnect is characteristic of COPD biology rather than necessarily a weakness in the rademikibart dataset: tozorakimab reproducibly reduced COPD exacerbations by ~30% across two Phase 3 trials despite comparatively limited effects on lung function. Reiterate Buy rating and $7 PT."

For an analyst ratings summary and ratings history on Connect Biopharma Holdings Ltd click here. For more ratings news on Connect Biopharma Holdings Ltd click here.

Shares of Connect Biopharma Holdings Ltd closed at $0.94 yesterday.

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