The primary endpoint missed in the Phase 3 part of the Phase 2/3 trial evaluating Kiniksa Pharmaceuticals Ltd.'s (KNSA:NASDAQ) drug candidate mavrilimumab in COVID-19-related acute respiratory syndrome (ARDS) was proportion of patients alive and off of mechanical ventilation at day 29, noted Wedbush analyst David Nierengarten.
Mavrilimumab is an anti-GM-CSF-Rα monoclonal antibody.
All is not lost, however, the analyst pointed out, given the strength of Kiniksa's Arcalyst program, the biopharma's primary value driver. Arcalyst is on the market for three indications, and sales so far suggest rapid uptake of the medication.
"We continue to hold a favorable view of Kiniksa and look forward to updates from its pipeline," Nierengarten wrote.
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Disclosures for Wedbush, Kiniksa Pharmaceuticals, Dec. 28, 2021
Wedbush Securities does and seeks to do business with companies covered in its research reports. Thus, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. Please see pages 3–5 of this report for analyst certification and important disclosure information.
Analyst Certification: We, David Nierengarten and Dennis Pak, certify that the views expressed in this report accurately reflect our personal opinions and that we have not and will not, directly or indirectly, receive compensation or other payments in connection with our specific recommendations or views contained in this report.
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Company Specific Disclosures: 1. WS makes a market in the securities of Kiniksa Pharmaceuticals. 2. WS co-managed a public offering of securities for Kiniksa Pharmaceuticals within the last 12 months. 3. WS provided Kiniksa Pharmaceuticals with investment banking services within the last 12 months.
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