H.C. Wainwright analyst Yi Chen has reiterated their bullish stance on FYB stock, giving a Buy rating today.
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Yi Chen has given his Buy rating due to a combination of factors, including the strategic advancements in Formycon AG’s biosimilar pipeline. The completion of enrollment in the Dahlia trial for FYB206, which compares to the leading drug Keytruda, is a significant milestone. The accelerated development timeline, facilitated by the agreement with the FDA to bypass Phase 3 trials, positions Formycon favorably without sacrificing the quality, safety, and efficacy of their product.
Additionally, Formycon’s expanding commercial partnerships enhance its market presence. The recent distribution agreement with ratiopharm GmbH for FYB202 in Germany, alongside the global partnership with Fresenius Kabi, strengthens their commercial strategy. Furthermore, the exclusive licensing agreement for FYB203 in the U.S. and Canada, and the partnership for FYB201 in Sub-Saharan Africa, demonstrate Formycon’s commitment to broadening its market reach, which supports the Buy rating.
In another report released today, RBC Capital also maintained a Buy rating on the stock with a €51.00 price target.