Gyre Therapeutics initiated with an Outperform at Noble Capital

Noble Capital initiated coverage of Gyre Therapeutics (GYRE) with an Outperform rating. Gyre is developing drugs for inflammatory diseases that lead to fibrosis and currently markets Etuary in China for idiopathic pulmonary fibrosis. The lead drug in the pipeline is Hydronidone, a new molecule derived from pirfenidone, that is in a Phase 3 clinical trial in China and data is expected in March, notes the analyst, who points out that data from the Phase 3 study in China will be used to design a Phase 2a trial in the U.S. that is expected to begin in late FY25.