Report
Jacob Mekhael

Inventiva FIRST LOOK: Competitor's MASH approval paves path for more to follow

In Inventiva related news, competitor Madrigal Pharmaceuticals (not covered) gained FDA accelerated approval for Rezdiffra (resmetirom, THR-ß agonist) in MASH (F2/F3). Rezdiffra's approval is the first ever in MASH, and in our view is a positive development for the MASH space as a whole, paving a regulatory path for other companies, such as Inventiva, to follow. Note that Inventiva is conducting a phase 3 (NATiV3) trial of lanifibranor (pan-PPAR agonist) in MASH (F2/F3), with last patient first visit expected in 1H24. We reiterate our BUY rating and € 10 TP for Inventiva.
Underlying
Inventiva SA

Inventiva is a clinical stage biotechnology research company delivering therapies in the areas of oncology, fibrosis and rare diseases. The most advanced clinical programs (IVA337 for systemic sclerosis in Non-Alcoholic Steato-Hepatitis and IVA336 for Maroteaux-Lamy syndrome-MPS VI) have demonstrated efficacy in relevant in vivo and in vitro models as well as safety in phase I and phase II clinical trials. Using its in-house drug discovery platform, which covers target validation, screening, chemistry, ADME and pharmacology, Co. is developing an internal oncology and fibrosis discovery pipeline with approaches centered on transcription factors, epigenetics targets and nuclear receptors.

Provider
KBC Securities
KBC Securities

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Analysts
Jacob Mekhael

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