Following the full data release from Johnson & Johnson (JNJ)/Protagonist Therapeutics’ (PTGX) FRONTIER 1 study of JNJ-2113 on July 4th, Oppenheimer continues to view the results as positive, but less impressive than seen for best-in-class monoclonals in this indication. The results appear superior to current data for the TYK2s at the top dose and schedule. However, the firm notes that this includes an additional month of dosing for JNJ-2113 vs. the schedule evaluated in the TAK-279 study. Oppenheimer remains bullish on Ventyx Biosciences (VTYX), and sees VTX958 as having the potential to improve on both TAK279 and JNJ-2113 results. The firm reiterates an Outperform rating on Ventyx’s shares with a price target of $62.
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