Efficacy ConcernsConsensus expectations for success are low, because ANB032’s non-specific mechanism has yet to be validated in humans and may not deliver Dupixent-like efficacy.
Investor SentimentStreet's odds are low for rosnilimab, with essentially all the value for this program out of the stock.
Market PressureShares were pressured following LLY's termination of its PD-1 agonist program in RA, though we see the pullback as too severe given two upcoming Ph. II datasets and progress on the earlier pipeline.