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Singapore's Aslan Pharma Gets Buy Rating from Jefferies

'ASLN's '004 is a fast follower, targeting an understood, de-risked path in atopic dermatitis [eczema],' said Jefferies analyst Maury Raycroft.
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Shares of Singapore’s Aslan Pharmaceuticals  (ASLN) - Get Aslan Pharmaceuticals Ltd. ADR Report rose sharply Friday, after Jefferies analyst Maury Raycroft initiated coverage of the drug company with a buy rating and an $8 price target

“ASLN's '004 is a fast follower, targeting an understood, de-risked path in atopic dermatitis [eczema],” the analyst said.

“The path was paved by REGN's dupilumab, which was approved for AD in 2017, asthma in '18, and nasal polyps in '19, with total sales of $4.2 billion in '20.”

Further, “dupi is a 'pipeline in a drug.' ASLN's '004 is differentiated but has some overlap with REGN's MOA, which we think de-risks and informs ASLN's clinical development & commercial strategies,” Raycroft said.

And, with the company’s $101 million in cash, the stock looks cheap, the analyst said.

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Aslan traded at $3.45, up 8.5%, at last check.

In other health news, Sigilon Therapeutics  (SGTX) - Get Sigilon Therapeutics Report plunged Friday, after the Food and Drug Administration notified the biotech company that its Phase 1/2 study of SIG-001 for hemophilia A has been placed on clinical hold.

“The clinical hold was initiated following the company’s submission of a serious adverse event and temporary enrollment halt to the FDA,” Sigilon said in a statement.

“The patient is responding well to medical treatment, and his condition continues to improve,” the company added.

On Thursday, analysts reacted positively to the Food and Drug Administration’s clearance of SeaSpine’s  (SPNE) - Get SeaSpine Holdings Corp. Report 7D Percutaneous Spine Module for spinal surgery.

The Carlsbad, Calif., medical-technology company is preparing a limited release of the module in this quarter.

Piper Sandler’s Matthew O’Brien affirmed his overweight rating and $28 price target.