AbCellera Shares Jump 64% After Hot Flash Drug Cuts Episodes 83% in Phase 2 Trial
Updated
Updated · Yahoo Finance · Aug 16
AbCellera Shares Jump 64% After Hot Flash Drug Cuts Episodes 83% in Phase 2 Trial
1 articles · Updated · Yahoo Finance · Aug 16
Summary
$11.50 marked AbCellera's highest share price in three years on Friday after a weeklong 64% surge, with the stock closing at $11.38.
ABCL635 cut hot flash episodes by 83% in 92 postmenopausal women in a phase 2 trial, versus a 33% reduction for placebo, and also reduced severity by 58% versus 12%.
Patients also reported better sleep and overall improvement, while the drug showed a broadly favorable safety profile with headaches, fatigue and injection-site reactions as the main adverse effects.
Truist raised its price target to $30 from $12 and lifted peak risk-adjusted sales estimates to $1.1 billion, as AbCellera targets a US market of roughly 12 million women with moderate to severe symptoms.