BTIG has maintained its Buy rating and $43.00 price target for Abivax (NASDAQ: ABVX), a biotechnology company focused on developing treatments for diseases with unmet medical needs.
The firm's positive stance is based on recent preclinical data indicating that the combination of Abivax's drug candidate, obefazimod, with etrasimod, shows a synergistic effect in reducing cytokine levels in a mouse model of inflammatory bowel disease (IBD).
The data presented by Abivax's management showed that this drug combination not only led to a significant decrease in various cytokines compared to monotherapy but also improved outcomes related to body weight protection and Disease Activity Index, which are important measures in IBD treatment efficacy.
BTIG suggests that the future of IBD treatment may involve combination therapies, and obefazimod's distinct mechanism of action and safety profile make it a strong candidate for such strategies.
Abivax's obefazimod is an orally administered medication, and the firm anticipates that any potential combination therapy would likely involve other oral agents, especially those with similarly clean safety profiles. This approach could enhance obefazimod's potential for first-line treatment positioning in IBD.
To further explore the potential of obefazimod in combination therapies, Abivax plans to conduct additional preclinical studies with various mechanisms. These studies are intended to guide the selection of development candidates, with expectations for a candidate to be identified in 2025.
In other recent news, Abivax is making strides in the development of its lead drug, obefazimod, with a series of clinical trials underway. The biotech firm reported promising early preclinical data for a combination therapy aimed at inflammatory bowel disease (IBD), showing a significant reduction in inflammatory cytokines. Abivax is also advancing its Phase 3 ABTECT clinical trial for obefazimod, targeting ulcerative colitis, with full enrollment expected by early 2025.
Additionally, the company is planning a Phase 2 trial for obefazimod in Crohn's disease, with top-line induction data anticipated in the second half of 2026. Analyst firms Piper Sandler, BTIG, and Guggenheim have all issued positive ratings for Abivax, highlighting the potential of obefazimod.
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