H.C. Wainwright says regulatory approval for Selecta Bio's gout therapy likely

Cartesian Therapeutics

22/03/2023 15:44

** H.C. Wainwright raises PT on Selecta Biosciences Inc
 SELB.O  to $5 from $4 after its therapy SEL-212 met main study
goals in trials for a painful and severe form of inflammatory
arthritis 
    ** SEL-212 showed high response rate in reducing excessive
uric acid levels in blood in trials 
    ** Brokerage sees high likelihood of regulatory approval for
drug developer's therapy, raises approval probability to 80%
from 60%; SELB shares up ~7% at $1.35
    ** SEL-212 could be deployed in several thousand patients
per year, representing a blockbuster market opportunity if
priced in-line with existing branded gout drugs as Horizon
Therapeutics Plc's  HZNP.O  Kryxtessa - brokerage 
    ** Expects SEL-212 to enter the market in the U.S. during
2025 and in Europe in 2026; adds it sees at least 12 years of
market exclusivity in the U.S. since it is a biologic drug
    ** Including session moves, stock up 19.5% YTD 

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))