Analyst Says Selecta Biosciences' Gout Candidate Can Potentially Raise The Bar On Several Fronts

Loading...
Loading...
  • Canaccord Genuity has increased the price target for Selecta Biosciences Inc SELB from $9 to $10 while maintaining the Buy rating ahead of the upcoming data from two Phase 3 studies of SEL-212 for chronic refractory gout.
  • The analyst expects positive top-line data in 1Q23 for SEL-212.
  • While many will likely compare the results to Horizon Therapeutics PLC's HZNP Krystexxa and the various immunomodulating combinations, Canaccord sees SEL-212 as a step ahead in the gout treatment paradigm. The once-a-month treatment sets it apart from Krystexxa. 
  • The analyst anticipates a 40-50% response rate at six months. SOBI has guided BLA submission 2H23. Both studies will measure the primary endpoint at six months, but DISSOLVE II also includes an additional 6-month follow-up.
  • SEL-12 previously demonstrated a 53% response rate vs. 46% in the Krystexxa arm at the combined 3- and 6-month time points. 
  • Most recently, Selecta Biosciences and Astellas Pharma Inc ALPMF ALPMY announced an exclusive licensing and development agreement for IdeXork (Xork) as a potential next-generation immunoglobulin G (IgG) protease.
  • Astellas will use the IgG with AT845, an investigational gene therapy for Pompe disease. 
  • Selecta is to receive a $10 million upfront payment and is eligible to receive up to $340 million for certain additional development and commercial milestones, plus royalties on commercial sales.
  • Price Action: SELB shares are up 0.21% at $1.76 on the last check Tuesday.
Loading...
Loading...
Market News and Data brought to you by Benzinga APIs
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorBiotechNewsPenny StocksHealth CarePrice TargetReiterationAnalyst RatingsGeneralBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...