After Sanofi (SNY) published the first headline data for amlitelimab from its first Phase 3 trial in atopic dermatitis, BofA analyst Sachin Jain said that though the study met its primary and secondary endpoints, the data was “well below” the expected bar for efficacy. The firm, which expects shares to trade down following the release, sees “a quieter pipeline path” with “smaller” Phase 3 read-outs in FY25. The firm maintains a Buy rating on Sanofi, which is down about 8% to $45.96 in pre-market trading in New York.
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