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Fly News Breaks for March 18, 2019
REGN, DERM
Mar 18, 2019 | 08:15 EDT
Shares of Dermira (DERM) may now approach or even surpass $15 following this morning's Phase IIb lebrikizumab data in atopic dermatitis, Mizuho analyst Irina Koffler tells investors in a research note. The stock in premarket trading is up 59%, or $4.06, to $10.90. Dermira's trial was able to identify a dose with a more favorable one-month dosing regimen compared to Regeneron's (REGN) Dupixent, and unexpectedly, a slightly stronger efficacy signal compared to Dupixent in the 250 mg once-monthly dose as well, says Koffler. As such, the analyst believes the data exceeded Dermira's expectations and she points out that management is calling the drug "best in class." Lebrikizumab is now likely to become strategically attractive to partners like Almirall, Koffler contends. She adds that Dermira is likely to pursue additional financing to support a Phase III program, which it plans to initiate by the end of 2019. The analyst has a Buy rating Dermira.
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