After Novartis (NVS) announced that both of two Phase 3 trials evaluating ianalumab in adults with active Sjogren’s disease met the primary endpoint of demonstrating statistically significant improvements in disease activity, Clear Street said the positive NEPTUNUS-1 and NEPTUNUS-2 results offer a favorable read-through for Cullinan Therapeutics’ (CGEM) ongoing CLN-978 trial in SjD. CLN-978’s distinct target and structural design “confer multiple advantages over ianalumab,” which preserve its opportunity despite Novartis’ lead, according to the analyst, who keeps a Buy rating and $22 price target on Cullinan shares.
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