Ocular Gene Therapy: Regenxbio Data Shows Consistent Preservation Of Visual Acuity, Retinal Thickness
Portfolio Pulse from Vandana Singh
Regenxbio Inc (NASDAQ:RGNX) released interim data from the Phase 2 AAVIATE trial of ABBV-RGX-314 for wet AMD, showing consistent preservation of visual acuity and retinal thickness. The therapy, developed with AbbVie Inc (NYSE:ABBV), is well tolerated with no serious adverse events and reduces treatment burden significantly. The data also supports the potential transition from a subretinal procedure to an in-office treatment, which could improve commercial viability. Analysts from Baird maintain an Outperform rating with a $34 price target, while JMP Securities highlights the paradigm-shifting potential of delivering gene therapy via Clearside Biomedical Inc's (NASDAQ:CLSD) Microinjector. RGNX shares dropped 7.98% to $14.05.
January 17, 2024 | 8:28 pm
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POSITIVE IMPACT
AbbVie is collaborating with Regenxbio on the development of ABBV-RGX-314 for wet AMD, which has shown promising interim trial results and could lead to a more commercially viable in-office treatment.
AbbVie's involvement in the development of ABBV-RGX-314 could benefit from the positive trial outcomes and the potential shift to a more convenient treatment method, which may enhance the drug's commercial potential and AbbVie's revenue from this collaboration.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Clearside Biomedical's Microinjector is being used to deliver ABBV-RGX-314 in the AAVIATE trial, and JMP Securities notes that the six-month data update provides evidence of effective and safe delivery, which could be paradigm-shifting for the field.
The successful use of Clearside Biomedical's Microinjector in the trial suggests a significant role for the company in the future of ocular gene therapy delivery. Positive analyst commentary could reflect well on Clearside's technology and its stock in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
Regenxbio's interim trial results for ABBV-RGX-314 show positive outcomes in treating wet AMD, with a significant reduction in treatment burden and no serious adverse events. Analysts maintain a positive outlook with a $34 price target.
The positive trial results and the potential for a transition to an easier in-office treatment could significantly improve the commercial prospects for Regenxbio's ABBV-RGX-314, despite the current drop in share price. The maintained Outperform rating and price target by Baird indicate a strong belief in the asset's future performance.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100