BioTuesdays

SVB Leerink starts Aligos Therapeutics at OP; PT $29

SVB Leerink initiated coverage of Aligos Therapeutics (NASDAQ:ALGS) with an “outperform” rating and $29 price target. The stock closed at $15.31 on Sept. 8.

Analyst Roanna Ruiz, Ph.D., writes that Aligos is unique among chronic hepatitis B-focused companies, citing multiple early-stage oligonucleotides and small molecules with novel mechanisms of action HBV; the “largest portfolio we are aware of” that can be used to assemble a potentially curative HBV regimen; and internal drug discovery chemistry to potentially create best-in-class agents.

Dr. Ruiz said Aligos has a number of key catalysts to watch, including:

• Phase 1b safety and antiviral data in CHB patients for ALG-000184 (CAM) in the second half of 2021.
• initiation of Phase 1 trial for CHB asset ALG-020572 (ASO) in healthy volunteers in the fourth quarter of 2021.
• initiation of Phase 1 trial for NASH asset ALG-055009 (THR-beta) in the fourth quarter of 2021.
• Phase 1b safety and antiviral data in CHB patients for ALG-010133 (STOPS) in the first half of 2022.
• and initiation of Phase 1 trial for CHB asset ALG-125755 (siRNA) in healthy volunteers in the first half of 2022.

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