Climb Bio initiated with an Outperform at Baird on budoprutug potential

As previously reported, Baird initiated coverage of Climb Bio (CLYM) with an Outperform rating and $9 price target The firm believes Climb’s lead drug budoprutug has potential across a wide range of immune-mediated diseases, building on validation from Uplizna, the analyst tells investors. Early clinical data for budoprutug in primary membranous nephropathy have shown positive efficacy and safety, notes the analyst, who adds that Climb is currently pursuing early-to-mid-stage studies in pMN as well as immune thrombocytopenia and systemic lupus erythematosus.