Autolus Doses first patient in phase 1 trial of Aucatzyl in progressive MS

Yesterday, before US market opens, Autolus announced that the first patient has been dosed in the phase 1 (BOBCAT, NCT07139743) trial of Aucatzyl (obe-cel, CD19 CAR-T) in patients with progressive multiple sclerosis (PMS). This comes in line with the company's previously guided timeline to initiate the trial by YE25. While relapsing MS has multiple treatment options, there remains a need to address the progressive form of the disease, which is characterised by CNS-compartmentalised inflammation. CAR-T's ability to cross the blood brain barrier could have an advantage over other modalities in this setting, and we look to the initial biomarker data for any signs of slowing of disease progression. We reiterate our $ 10 TP and BUY rating.