Guggenheim starts ArriVent Biopharma with a Buy on firmonertinib potential

As previously reported, Guggenheim initiated coverage of ArriVent Biopharma (AVBP) with a Buy rating and $45 price target The late-clinical stage biotech company is developing novel therapies for oncology indications, with an initial focus on uncommon EGFR mutant non-small cell lung cancer, notes the analyst. The firm’s investment thesis is centered on its lead product candidate, firmonertinib, which is not yet approved in the U.S. but the firm views as “clinically de-risked to an unusual degree by its extensive clinical and commercial history” in China, the analyst tells investors.