ArriVent Biopharma initiated with a Buy at Clear Street

Clear Street analyst Kaveri Pohlman initiated coverage of ArriVent Biopharma (AVBP) with a Buy rating and $32 price target Firmonertinib, ArriVent’s sole clinical asset, demonstrates “compelling validation” through four years of commercial success in China for classical epidermal growth factor receptor non-small cell lung cancer mutations, delivering efficacy comparable to osimertinib and lazertinib while exhibiting potentially best-in-class activity in atypical EGFR mutations, the analyst tells investors in a research note. The firm believes the company’s focus on “underserved” PACC mutations and EGFR exon20ins markets positions it favorably against limited competition.