UCB: share jumps after promising clinical trials
(CercleFinance.com) - The share of Belgian pharma group UCB has surged over 10% on the Brussels Stock Exchange on Monday after disclosing promising results from a Phase III study of bimekizumab, its investigational treatment for moderate-to-severe psoriasis.
In 85% of patients the clinical trial showed a 90% improvement in the disease severity score (PASI 90) after 16 weeks of treatment, compared to 49.7% for Stelara, Johnson & Johnson's comparable drug.
In a note published this morning, Oddo BHF analysts cited "excellent" figures that are characteristic of a "game changer," i.e. a molecule capable of changing the game in the management of the disease.
The broker, which believes that the market had not measured the product's potential, has therefore upgraded the stock to buy, with a new target price of 108 euros.
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