Analyst Andrew Berens of Leerink Partners maintained a Buy rating on Abbisko Cayman Limited (2256 – Research Report), with a price target of HK$18.00.
Andrew Berens has given his Buy rating due to a combination of factors including Abbisko Cayman Limited’s promising pipeline developments and strategic plans for the future. The company is preparing to submit a New Drug Application (NDA) for pimicotinib, a CSF1 inhibitor, targeting Tenosynovial Giant Cell Tumor (TGCT) to regulatory authorities in China and the US. This follows positive Phase 3 study results that demonstrated best-in-class efficacy, although full data presentation is yet to be disclosed.
Furthermore, Abbisko is advancing its irpagratinib program, with plans to initiate a registrational trial for hepatocellular carcinoma in China. Early trial results have shown encouraging efficacy, suggesting potential advantages over existing treatments. The company is also progressing with other promising candidates, including ABSK043 and ABSK121, and has plans for multiple Phase 1 trials in the near future. These strategic initiatives and positive trial outcomes underpin Berens’s optimistic outlook on Abbisko’s growth potential.