SVB Securities analyst Thomas Smith notes that 89bio reaffirmed timing for the highly anticipated topline results from the Phase 2b ENLIVEN trial of pegoza in F2/F3 NASH patients in Q1 2023, with the firm continuing to expect topline data in mid/late-March. SVB Securities remains bullish on the ENLIVEN study readout and continues to view the FGF21 class as one of the most compelling therapeutic targets for the treatment of NASH and metabolic diseases, with pegoza well-positioned as a potentially best-in-class compound based on the drug’s competitive efficacy profile and emerging differentiation on safety/tolerability and dosing frequency. The firm reiterates an Outperform rating on the shares with a price target of $12.
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