SVB starts Alpine Immune with 'outperform'

Hanall Biopharma

21/11/2022 19:28

** Brokerage SVB Securities initiates coverage of biopharma
firm Alpine Immune Sciences  ALPN.O  with "outperform" rating
and $16 PT
    ** Sees potential in company's drug candidate, ALPN-303,
aimed at treatment of multiple autoimmune and inflammatory
conditions; optimistic on multiple study data readout for the
drug in year-end 2023 
    ** Expected to start a mid-stage study for ALPN-303 to treat
systemic lupus erythematosus (SLE) in 2023 first-half 
    ** SLE is an autoimmune disease that causes widespread
inflammation and tissue damage in affected organs such as
kidneys, lungs, and joints
    ** Brokerage says ALPN also plans to initiate another early
stage basket study for ALPN-303 in 2023 second-half in treating
a range of kidney diseases such as Lupus nephritis (LN) and
other blood disorders 
    ** SVB anticipates launch of ALPN-303 in 2030 and sees the
drug generating revenue of $1.1 bln and $470 mln in SLE and LN
treatment market, respectively, by 2035
    ** LN is a complication of an autoimmune disease called
lupus, which could lead to kidney damage and failure 
    ** Including session moves, stock is down 52.5% YTD
 (Reporting by Pratik Jain)
 ((Pratik.Jain@thomsonreuters.com;))