Canaccord: Selecta Biosciences' Gout Candidate Can Potentially Raise Bar

 

• Canaccord Genuity has increased the price target for Selecta Biosciences Inc 
  SELB
   from $9 to $10 while maintaining the Buy rating ahead of the upcoming data from two Phase 3 studies of SEL-212 for chronic refractory gout.
• The analyst expects positive top-line data in 1Q23 for SEL-212.
• While many will likely compare the results to Horizon Therapeutics PLC's 
  HZNP
   Krystexxa and the various immunomodulating combinations, Canaccord sees SEL-212 as a step ahead in the gout treatment paradigm. The once-a-month treatment sets it apart from Krystexxa. 
• The analyst anticipates a 40-50% response rate at six months. SOBI has guided BLA submission 2H23. Both studies will measure the primary endpoint at six months, but DISSOLVE II also includes an additional 6-month follow-up.
• SEL-12 previously demonstrated a 53% response rate vs. 46% in the Krystexxa arm at the combined 3- and 6-month time points. 
• Most recently, Selecta Biosciences and Astellas Pharma Inc 
  ALPMF
   
  ALPMY
   announced an exclusive licensing and development agreement for IdeXork (Xork) as a potential next-generation immunoglobulin G (IgG) protease.
• Astellas will use the IgG with AT845, an investigational gene therapy for Pompe disease. 
• Selecta is to receive a $10 million upfront payment and is eligible to receive up to $340 million for certain additional development and commercial milestones, plus royalties on commercial sales.

https://www.benzinga.com/analyst-ratings/analyst-color/23/01/30648542/analyst-says-selecta-biosciences-gout-candidate-can-potentially-raise-the-bar-on-se