TD Cowen initiated coverage of Rapt Therapeutics (RAPT) with a Buy rating. Rapt Therapeutics’ ozureprubart, an improved IgE monoclonal antibody versus Xolair for food allergy and Chronic Spontaneous Urticaria, offers less frequent dosing and broader efficacy, with Chinese Phase 2 CSU data showing comparable or better efficacy and 16-week durability, the analyst tells investors in a research note. Ongoing Phase 2b food allergy data are expected in the first half of 2027, supporting a potential global Phase 3 start by year-end 2026 and highlighting multi-blockbuster potential, TD Cowen says.
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