Piper Sandler lowered the firm’s price target on Century Therapeutics (IPSC) to $4 from $12 and keeps an Overweight rating on the shares. Century is conducting the Phase I CALiPSO-1 study of CNTY-101 in systemic lupus erythematosus, lupus nephritis, idiopathic inflammatory myopathy and diffuse cutaneous systemic sclerosis patients. Recent Phase I ELiPSE-1 data showed 1.0B CNTY-101 cells achieved ORR of 83%, including 2 CRs, 3 PRs, and 1 SD in B cell lymphoma patients with no GvHD or DLTs, the firm notes. Century expects to update ELiPSE-1 data in mid-2025. Bristol Myers (BMY) recently terminated the Century collaboration for CNTY-104 for AML and CNTY-106 for multiple myeloma effective March 12, 2025 due to portfolio prioritization, adds Piper.
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