LianBio gains as dosing begins in eye disorder drug study in China

LianBio

02/11/2022 16:52

** Shares of China-focused biotech LianBio  LIAN.O  up 4.2%
at $1.48 
    ** Co, late on Tuesday, said the first patient has been
dosed with its experimental drug TP-03 in a late-stage study
being conducted in China  urn:newsml:reuters.com:*:nGNX9G8bLL
    ** LIAN is testing TP-03 as a potential treatment for the
eye disease demodex blepharitis, characterized by inflammation
of the eyelid margin and redness 
    ** Co says its study is designed to support registration for
the drug in China, expects to report data in Q4 2023 
    ** Jefferies says LIAN is likely to leverage TP-03 as an
"anchor asset" for potential ophthamology deals in the future 
    ** Brokerage adds that it does not see any near-term
catalysts which would move the stock higher, expects
macroeconomic headwinds to be LIAN's biggest issue at this time 
    ** Including session's move, LIAN down ~76% YTD 
 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))