B. Riley initiated coverage of ArriVent Biopharma (AVBP) with a Buy rating and $37 price target The firm sees potential market expansion of the company’s “partially de-risked” treatment for non-small cell lung cancer. ArriVent’s firmonertinib could serve as a superior treatment in the potential $700M per year market for ex20ins NSCLC with three key advantages – oral administration, brain penetration, and better tolerability, the analyst tells investors in a research note. Riley believes the stock weakness appears macro driven rather than fundamental, creating an attractive entry point today.
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