Dice Therapeutics initiated with an Outperform at Cowen

Cowen analyst Marc Frahm initiated coverage of Dice Therapeutics with an Outperform rating without a price target. The company’s oral IL-17A inhibitor DC-806 is active and safe in mild-mod psoriasis, the analyst tells investors in a research note. The firm sees "many paths to market" in psoriasis and beyond with psoriasis, alone supporting $2B in sales for Dice.