H.C. Wainwright Starts Climb Bio (CLYM) at Buy

H.C. Wainwright analyst Raghuram Selvaraju initiates coverage on Climb Bio (NASDAQ: CLYM) with a Buy rating and a price target of $9.00.

The analyst comments "A next-generation developer of therapies for autoimmune B cell-mediated diseases. We are initiating coverage of Climb Bio with a Buy rating and 12-month price target of $9 per share. In our view, Climb Bio is a disruptive innovator in the field of B cell-mediated autoimmune diseases, with a pipeline consisting of two next-generation assets: (1) budoprutug, a clinical-stage anti-CD19 monoclonal antibody (mAb), which is designed to deplete CD19-positive B cells, including antibody secreting cells (plasma blasts), in order to directly reduce pathogenic autoantibodies—this candidate is being targeted at three distinct opportunity sets in immune-mediated disease, primarily IgG4-mediated diseases, single organ IgG1-3 mediated diseases and complex systemic diseases, with the three lead indications comprising primary membranous nephropathy (pMN), a primarily IgG4-mediated disease, immune thrombocytopenia (ITP), a primarily single organ IgG1-3 mediated disease, and systemic lupus erythematosus (SLE), a complex systemic condition; and (2) CLYM116, a preclinical-stage anti-APRIL mAb for patients with IgA nephropathy (IgAN) and other B-cell mediated diseases. CLYM116 utilizes a novel mechanism of action to prevent APRIL signaling, potently blocking binding of APRIL to its receptors and also promoting lysosomal APRIL degradation via a pH-dependent bind-and-release design. CLYM116 is being aimed at IgA nephropathy (IgAN), an area of high unmet need in nephropathic autoimmune disease. We note that budoprutug represents a pipeline in a single product candidate with a validated mechanism."

For an analyst ratings summary and ratings history on Climb Bio click here. For more ratings news on Climb Bio click here.

Shares of Climb Bio closed at $1.80 yesterday.

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