Kelonia data too early to read to Gilead, Arcellx’s anito-cel, says BMO Capital

BMO Capital says Phase 1 data from three patients in Kelonia Therapeutics’ inMMyCAR study “look interesting,” with all patients reaching MRD negativity by month one, but adds that the extremely small sample size and limited amount of patient follow-up “muddies comparisons” to Gilead (GILD) and Arcellx’s (ACLX) anito-cel program. The tolerability profile of Kelonia’s KLN-1010 “looks relatively clean,” but the small sample size and the limited amount of patient follow-up “leave significant questions,” adds the analyst, who keeps an Outperform rating and $135 price target on Gilead shares.