AnaptysBio jumps after JPMorgan surveys doctors on asthma data
Shares of AnaptysBio (ANAB) are higher after JPMorgan analyst Anupam Rama asked 60 U.S. physicians about the company's Phase 2a eosinophilic asthma data for etokimab. While acknowledging the data for etokimab are early stage, Rama told investors earlier in a research note that he is "broadly encouraged" by the enthusiasm of the surveyed physicians. Regeneron's (REGN) cautious commentary on monotherapy activity of its IL-33 antibody, REGN3500, has emerged as an overhang on AnaptysBio's etokimab asthma program, but anecdotal feedback in the survey suggests IL-33 inhibition is viewed as an "interesting mechanism," Rama wrote. He sees a "number of potential value creating catalysts" for AnaptysBio shares in mid-2019, including Phase 2b data of etokimab in atopic dermatitis, Phase 2 data of etokimab in chronic rhinosinusitis with nasal polyps, and Phase 2 data from ANB019 in generalized pustular psoriasis. The analyst keeps an Overweight rating on AnaptysBio. The stock in late morning trading is up 9%, or $6.05, to $71.99 in late morning trading.