Roth Capital Partners has initiated coverage of Kiadis Pharma (Euronext Amsterdam and Brussels: KDS) with a “buy” rating and price target of €17. The stock closed at €11.32 on Wednesday.
“We believe Kiadis Pharma warrants attention from investors because it has zeroed in on an area of high unmet medical need and is planning to take its lead program, ATIR-101, into a well-designed Phase 3 trial later this year,” writes analyst Mark Breidenbach.
“We see ATIR-101 as a potentially paradigm shifting therapy, designed to improve the outcomes of hematopoietic stem cell transplant (HSCT) in patients who cannot find a matched donor.”
Mr. Breidenbach said Phase 2 clinical results show that ATIR-101 reduces the risk of GVHD relative to historical control groups without substantially increasing risk of opportunistic infection and cancer relapse.
Updated Phase 2 data from two ongoing Phase 2 trials are expected within a few months and the company plans to file a MAA in Europe based on the Phase 2 results.
