Wedbush raised the firm’s price target on Apogee Therapeutics (APGE) to $90 from $87 and keeps an Outperform rating on the shares. The firm notes that ahead of its R&D Day, the company announced initial efficacy data for APG777 in AD to come in mid-2025; half-life of 77 days for APG777 and 55 days for IL-4Ralpha mAb APG808; and plans to initiate trials of APG777 for asthma and EoE in the first half of 2025 and 2026, respectively. The company also plans to open an asthma cohort in the Phase 1b trial for APG808, and will open a Dupixent comparator arm in an upcoming trial of APG777 plus APG990 in AD. Wedbush also highlights that Apogee narrowed initiation of a Phase 1 HV trial for APG333 to year-end 2024.
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