MaaT Pharma FIRST LOOK: DSMB green light de-risks MaaT013 phase 3 data in mid-2024
MaaT announced the outcome of the DSMB review for the phase 3 (ARES) trial of MaaT013 in aGvHD recommending the trial continue without modification, citing a favourable benefit/risk ratio. In our view the absence of safety concerns and preliminary efficacy (gastrointestinal overall response rate, GI-ORR) higher then pre-defined protocol assumptions provide comfort, de-risking the pivotal readout on the primary endpoint (GI-ORR) expected in mid-2024 – read our readout preview HERE. We reiterate our BUY rating and € 15 TP.