VectivBio - A Catalyst Rich Year Ahead (BUY, TP $27, 9 pgs)
Apraglutide, a novel GLP2 agonist being developed by VectivBio (NASDAQ:VECT), has shown best-in-class potential with strong efficacy and convenient weekly dosing in the hard-to-treat CIC SBS-IF patients. Topline results from the pivotal P3 STARS study are expected by end 2023. We also expect a 52 week readout from Phase 2 STARS Nutrition in H223, following on from the positive 6 month readout in March. By mid-23, interim results from the P2 STARGAZE trial in aGvHD are likely to highlight the drug’s potential for expanding into other GI conditions. With financial runway into 2025, the company has sufficient resources to support a filing of apraglutide in 2024 and a potential launch in 2025. We reiterate our PT of $27. For access to the full note and our initiation , please contact Naresh Chouhan ( )
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