Guggenheim Starts Climb Bio (CLYM) at Buy, PT $35

Guggenheim analyst Yatin Suneja initiates coverage on Climb Bio (NASDAQ: CLYM) with a Buy rating and a price target of $35.00.

The analyst comments "We are initiating coverage of Climb Bio, Inc. (CLYM) with a Buy rating and $35 PT. CLYM is a clinical-stage company with differentiated, dual-asset, B-cell-directed programs targeting immune-mediated diseases with a nephrology emphasis. Lead asset budoprutug is a glycoengineered anti-CD19 mAb delivering deep B-cell depletion via a mechanism clinically validated by AMGN's Uplizna in autoimmune diseases; Phase Ib (n=5) in primary membranous nephropathy (PMN) produced 60% complete remission, 100% overall remission, and 100% serologic remission, with 75% of patients maintaining remission for 3 years off immunosuppression and no drug-related SAEs. The asset is advancing in parallel through Phase II PMN (PrisMN), Phase Ib/IIa ITP, and Phase Ib SLE — with the company expecting high-impact readouts from each study in 2026. Second asset CLYM116 is a next-gen anti-APRIL "sweeper" mAb licensed from Mabworks with a pH-dependent elimination MoA achieving 2–3x longer half-life than Otsuka's sibeprenlimab (Voyxact) in NHPs, potentially enabling Q8W+ dosing in IgA nephropathy (IgAN). While the autoimmune space is crowded with de-risked B-cell-targeting assets, we like CLYM's strategy of prioritizing rare renal indications (PMN and IgAN) and pairing complementary mechanisms (anti-CD19 and anti-APRIL). With two derisked clinical assets and $249MM in pro forma cash after the April 2025 PIPE, the current ~$840MM market cap looks dislocated versus the upcoming catalyst calendar."

For an analyst ratings summary and ratings history on Climb Bio click here. For more ratings news on Climb Bio click here.

Shares of Climb Bio closed at $10.55 yesterday.

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