BofA Global Research upped its target price for WuXi Biologics (02269) to HK$129 from HK$117 and maintained its "buy" rating.
In addition to Gloria's PD-1 GLS-010 and Amicus' ATB200 for which WuXi Bio would be
a commercial manufacturer, the research house thinks WuXi is also manufacturing clinical trial material for GSK's PD-1 TSR042, CStone's PD-L1 CS1001, Acrus' PD-1 AB122, Momenta's FcRn antibody M281 and Eylea biosimilar M710, Immutep's LAG-3 antibody IMP321, InflaRx's IFX-1.
BofA believes WuXi Bio could become a commercial manufacturer for those drugs' as
well. In particular, there could be catalysts in addition to the WuXi Vaccine contract
signing: IMP321 Ph2 combo data in 1L NSCLC on 19 February and Ph2 combo data in mBC in
1Q 2020, M281 Ph2 data in generalized myasthenia gravis in 3Q 2020, CS1001 NDA filing in China, and WuXi's 2019-nCoV neutralizing antibody development achievements.
19/02/2020 11:49
{I-bank focus}BofA raises WuXi Biologics (02269) to HK$129
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