Biren Amin, an analyst from Piper Sandler, has initiated a new Buy rating on Ascentage Pharma Group International Unsponsored ADR (AAPG).
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Biren Amin’s rating is based on the promising potential of Ascentage Pharma’s key assets, olverembatinib and lisaftoclax, which have shown significant efficacy and safety in their respective trials. Olverembatinib, a BCR-ABL TKI, has already been approved in China for certain types of CML and is undergoing pivotal trials in the US, with expectations for a commercial launch by 2028. The drug has demonstrated impressive results in treating Ph+ ALL, which could further expand its market opportunity.
Biren Amin also highlights lisaftoclax, a BCL-2 inhibitor, which has achieved high response rates in CLL/SLL and AML, with a differentiated safety profile compared to existing treatments. The ongoing US pivotal study of lisaftoclax in combination with BTKi could lead to its approval in the US. Collectively, these developments project substantial risk-adjusted global revenues for both drugs, supporting the Buy rating. However, potential risks such as clinical, regulatory, and commercial challenges are noted, which investors should consider.
Amin covers the Healthcare sector, focusing on stocks such as Viking Therapeutics, BridgeBio Pharma, and Nurix Therapeutics. According to TipRanks, Amin has an average return of 4.5% and a 47.07% success rate on recommended stocks.