MaaT Pharma Final Xervyteg phase 3 data confirm strong survival outcome

MaaT reported the final results from the phase 3 (ARES) trial of Xervyteg (MaaT013, microbiome therapy, enema formulation) in aGvHD at the American Society of Hematology (ASH) conference, being held 6-9 December 2025. The final OS results from the phase 3 (ARES) trial of MaaT013 coming in at 54% at 1 year confirm the previously reported 54% probability of survival that was shared with the topline readout in January 2025. We believe this brings a significant benefit vs. the 15% 1-year OS reported in the literature for off-label options (Abedin, 2021) in 3L aGvHD and maintains our confidence in the likelihood of EMA approval (expected in mid-2026). We reiterate our € 15 TP and BUY rating.