Abivax initiated with a Buy at Guggenheim on obefazimod’s potential

As previously reported, Guggenheim initiated coverage of Abivax with a Buy rating and $50 price target, citing a positive view of its oral small molecule obefazimod, which is currently in late-stage development for ulcerative colitis, or UC. If Phase 3 data are similar to Phase 2, obefazimod is uniquely positioned to take a large share of the oral UC and Crohn’s market, especially in patients receiving something other than anti-TNFs first-line, the analyst contends.