Climb Bio Offers Compelling, Data-Rich H2 With Multiple Near-term Catalysts Across Two Programs, RBC Says

MT Newswires Live08-03

Climb Bio (CLYM) offers a compelling, data-rich H2, with several near-term catalysts across two differentiated programs in highly unmet need B-cell mediated diseases, RBC Capital Markets said in a Monday research note.

RBC said that the proof-of-concept data for the company's Budoprutug anti-CD19 monoclonal antibody in primary membranous nephropathy from low dose has demonstrated early signals of efficacy, with recent immune thrombocytopenia data further de-risking the safety profile, suggesting Budoprutug can be dosed even higher.

RBC said it sees out-year sales of about $700 million from Budoprutug across indications of primary membranous nephropathy, immune thrombocytopenia, and systemic lupus erythematosus.

RBC further said that the company's "CLYM116 anti-APRIL mechanism is de-risked" reflecting clinical and commercial validation, with sweeper Fc engineering potentially placing it competitively in the crowded IgA nephropathy market.

RBC initiated its coverage on the company's stock with an outperform rating and $23 per share price target.

Price: 11.40, Change: -0.50, Percent Change: -4.20

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