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What To Expect From Catabasis Pharma's Proof Of Concept Study

What To Expect From Catabasis Pharma's Proof Of Concept Study
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Enrollment of MoveDMD proof-of-concept study of Catabasis Pharmaceuticals Inc’s (NASDAQ: CATB) NF-kB inhibitor, edasalonexent, has been completed. Data is expected in Q1 of 2017 and the risk/reward appears compelling, “with a best case scenario of a significant benefit (as measured by MR) at three months,” Wedbush’s Heather Behanna said in a report.

Behanna reiterated an Outperform rating on the company, with a price target of $17. Recent data from World Muscle Society [WMS] indicated that edasalonexent “is knocking down NF-kB in DMD boys.”

MoveDMD Data Readout

The primary endpoint of the MoveDMD study is change in T2 magnetic resonance [MR], which measures muscle inflammation, at three months, compared to boys on placebo. The boys would then be rolled into a 36-week open label extension, during which MR and functional measurements would continue to be monitored.

“In our view, the data-rich exploratory Phase II should help understand the potential benefit of edasalonexent, as well as the time course of improvement,” Behanna wrote.

WMS Data Encouraging

The analyst believes the WMS data suggest that edasalonexent “is acting on target” and indicate that “benefit could at least mirror what has been observed for steroids.” She added that while steroids increase certain proteins, this is not the case with edasalonexent therapy, “suggesting that the compound could differentiate from steroids on efficacy, as well as safety.”

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Latest Ratings for CATB

Mar 2018WedbushMaintainsOutperformOutperform
Nov 2017CitigroupUpgradesNeutralBuy
Oct 2017CitigroupMaintainsNeutral

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