Connect Biopharma initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage of Connect Biopharma (CNTB) with an Overweight rating and $4 price target The company’s Phase 2 SEABREEZE STAT readouts in acute asthma and acute COPD are expected in Q3, the analyst tells investors in a research note. The firm says there are no approved biologics for acute exacerbations today, and essentially no late-stage biologics being developed for the setting. The acute-care respiratory market remains one of the few large pulmonary settings where treatment has barely evolved in decades, contends Cantor. It believes the upcoming SEABREEZE studies will help answer whether Connect’s rademikibart can become the first for acute exacerbations.