Sam Slutsky, an analyst from LifeSci Capital, maintained the Buy rating on ArriVent BioPharma, Inc.. The associated price target was lowered to $36.00.
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Sam Slutsky has given his Buy rating due to a combination of factors related to ArriVent BioPharma’s ongoing clinical developments and promising trial results. The company’s recent presentation at the World Conference on Lung Cancer showcased the final analysis from their Phase 1b FURTHER trial, which demonstrated a strong efficacy profile for firmonertinib in NSCLC EGFR 1L PACC mutant patients. The trial results, with notable metrics such as median progression-free survival and overall response rate, suggest a competitive advantage in the relatively open field of EGFR PACC mutant NSCLC.
Moreover, ArriVent’s strategic plans to continue the development of firmonertinib through a global Phase 3 trial, set to begin enrollment in late 2025, further solidify its potential market position. This trial will compare firmonertinib against existing treatments, aiming to establish its effectiveness in a broader patient population. Despite some uncertainties regarding the performance of comparator treatments, the company’s focus on expanding its clinical pipeline and addressing a significant market segment underpins Slutsky’s positive outlook and Buy recommendation.
In another report released yesterday, Clear Street also maintained a Buy rating on the stock with a $47.00 price target.