MaaT Pharma FIRST LOOK: ASH abstracts contain updated MaaT013 EAP data

MaaT announced the publication of abstracts for upcoming poster presentations at ASH in December 2023, with updated data in a larger set of patients (111) from MaaT013's early access program. We are encouraged by the GI-ORR of 61% in ruxolitinib treated patients, as this is the patient group being recruited in the phase 3 (ARES) trial, and see the data as continuing to de-risk the upcoming ORR readout expected in mid-2024. We reiterate our BUY rating and €15 TP.