H.C. Wainwright still ‘optimistic’ on Phase 2 data for AnaptysBio’s rosnilimab

After Eli Lilly (LLY) announced that it is discontinuing its Phase 2b study of peresolimab for treatment of rheumatoid arthritis, or RA, due to the overall risk/benefit profile of the drug, H.C. Wainwright notes that AnaptysBio’s (ANAB) rosnilimab is a PD-1 agonist similar to peresolimab that is also in development for RA in an ongoing Phase 2 trial expected to have a topline readout in Q1 of 2025. There is pressure on AnaptysBio shares this morning after Lilly noted it did not observe the same results in Phase 2b as it did in the small Phase 2a study, which could lead to concerns for efficacy of rosnilimab in the Phase 2 data readout, but the firm believes that rosnilimab is potentially a best-in-class PD-1 agonist and remains “optimistic” about the upcoming data, says the analyst, who keeps a Buy rating and $55 price target on AnaptysBio.