Jefferies bullish on Aslan's lead drug candidate potential, shares rise

Aslan Pharmaceuticals

09/07/2021 15:30

** U.S.-listed shares of Singapore-based drug developer
 ASLN.O  up 15.8% at $3.66
    ** Jefferies starts coverage of co with "buy" rating and PT
of $8, which is more than double stock's last closing price
    ** Says ASLN's lead drug candidate, ASLAN004, is a "fast
follower" to Regeneron's  REGN.O  drug dupilumab, which is FDA-
approved for eczema, asthma and nasal polyps
    ** Co is testing ASLAN004 for atopic dermatitis (AD), a skin
condition commonly known as eczema, as well as asthma; expects
to start a Phase 2b trial in AD in H2 2021
    ** Brokerage says ASLAN004 is differentiated as its
mechanism of action varies from dupilumab's
    ** Thinks the Phase 2b AD trial data, expected in H2 2022,
could move the stock up by ~3-4X if the trial is successful 
    ** Stock has doubled in value YTD, including session's gains

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))