KBC Securities - MAAT PHARMA SA (MAAT) MaaT Pharma FIRST LOOK: DSMB recommends MaaT033 phase 2b continues as planned

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KBC Securities

Jacob Mekhael

MaaT Pharma FIRST LOOK: DSMB recommends MaaT033 phase 2b continues as planned

MaaT announced that the DSMB (safety board) completed its routine safety assessment of the phase 2b trial (PHOEBUS) of MaaT033 (microbiome therapy, oral capsule) in patients post allo-HSCT, and recommended continuation of the trial without modification. The trial is expected to include the last patient in 2Q26, which means a readout can be expected in 2H27. MaaT033 is next in line after lead product MaaT013 (microbiome therapy, enema formulation), and being an oral capsule means the product could go after the larger commercial opportunity of post-transplant prophylaxis. We reiterate our € 18 TP and BUY rating.

22/01/2025 1 EN

Underlying

MAAT PHARMA SA

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FR0012634822 Euronext Paris France

Provider

KBC Securities

We are a financial services provider for several types of professional clients, each with distinct needs.

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Analysts

Jacob Mekhael

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MaaT Pharma FIRST LOOK: DSMB recommends MaaT033 phase 2b continues as planned

We are a financial services provider for several types of professional clients, each with distinct needs.

MaaT Pharma MaaT013 PIP approval clears path for MAA submission in June 2025

MaaT Pharma Receives Positive Opinion from EMA Pediatric Committee on the Pediatric Investigation Plan for MaaT013

MaaT Pharma reçoit un avis positif du Comité Pédiatrique de l'EMA pour le plan d'investigation pédiatrique de MaaT013

Warehouses Estates Belgium Good operational results, hit on interest costs

Hyloris FIRST LOOK: Positive study results for Dofetilide IV, plans FDA submission

GBL FY24: Flat NAV, Leadership Change & Progress Made On Mid-Term Targets

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