William Blair analyst Matt Phipps initiated coverage of Evommune (EVMN) with an Outperform rating. The firm cites the potential of the company’s “first-in-class” MRGPRX2 inhibitor EVO756 in the treatment of chronic urticaria for the buy rating. Evommune has already established “strong” proof-of-concept data in both a human challenge study and a Phase II trial in patients with chronic inducible urticaria, which “de-risks” the ongoing Phase II trial in chronic spontaneous urticaria, the analyst tells investors in a research note.
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