As previously reported, Guggenheim initiated coverage of Q32 Bio with a Buy rating and $100 price target, citing a positive view of its lead asset bempikibart, which is currently in development for treatment of atopic dermatitis, or AD, and alopecia areata, or AA. Bempikibart showed “favorable safety” and “good target engagement” in Phase 1 and is currently being tested in two ongoing Phase 2 trials in AD and AA, respectively, with topline data from both trials expected by the company in Q4 of 2024, the analyst tells investors.
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