Raymond James on Dianthus Therapeutics (DNTH) Amid 8% Gain: 'Incrementally More Bullish On The CIDP Program (again)'
Raymond James analyst Ryan Deschner reiterated a Strong Buy rating and $125.00 price target on Dianthus Therapeutics (NASDAQ: DNTH).
The analyst comments "DNTH reported additional data from Part A of their Phase 3 CAPTIVATE study evaluating claseprubart in CIDP showing a 75% responder rate in the first n=40 patients (up to 13 weeks), which is notably higher than the overall rate in the riliprubart (SNY) Phase 2 at Week 24 (~55%). Mean INCAT score change in responders was -1.6 at last evaluable visit (Week 13 or earlier), and substantial improvements were seen broadly across grip strength, MRC-SS, and I-RODS (notably patient-reported) metrics. By contrast, mean values for non-responders (n=10) showed worsening on all four metrics. Outside of the fact that its most direct competitor may no longer have a regulatory pathway for approval ahead of claseprubart, we think this sets DNTH up very nicely for a win in Part B given 1) it isrunning a randomized withdrawal study (recall efgartigimod’s randomized withdrawal study led to approval, and riliprubart’s parallel arm MOBILIZE studied recently failed); 2) it is showing a numerically-higher responder rate in Part A than what riliprubart showed in Phase 2; 3) they have more stringent responder criteria (could help maximize treatment effect delta); and 4) it is now showing broad response vs. non-responders across four key metrics, including a patient-reported assessment."
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Shares of Dianthus Therapeutics closed at $76.45 yesterday.