Oppenheimer has begun its analysis of Climb Bio (CLYM, Financial), awarding it an Outperform rating and setting a target price of $10. The enthusiasm is largely attributed to the company’s promising lead asset, IV budoprutug, recognized as a potentially superior anti-CD19 antibody. This treatment is advancing in the fight against several challenging autoimmune disorders, offering hope where current options fall short.
The firm highlights promising efficacy signals in patients dealing with primary membranous nephropathy, raising expectations for an upcoming Phase 2 trial. Additionally, initial studies for immune thrombocytopenia and lupus are anticipated to start soon. Oppenheimer estimates that the sales potential for IV budoprutug across these conditions could exceed $1 billion.
