Amgen data from rocatinlimab in AD ‘look unimpressive,’ says Baird

Baird argues that new data from Amgen (AMGN) on rocatinlimab in atopic dermatitis, or AD, “look unimpressive,” with a 24 week reduction in EASI-75 “well short” of disease control achieved at 16 weeks with Sanofi (SNY) and Regeneron’s (REGN) Dupixent. The initial Uplizna gMG data Amgen shared “look better,” suggesting solid uptake into the post-FcRN market, but “not competitive enough with FcRN to justify being needle-moving,” the analyst tells investors. The firm, which views the I&I Phase 3 updates as “a mixed bag” and “a draw for the stock,” maintains an Underperform rating and $215 price target on Amgen shares.