Takeda Pharm. (4502): Zasocitinib poised to lead the oral psoriasis market

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Takeda Pharm. (4502): Zasocitinib poised to lead the oral psoriasis market

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Takeda Pharm. (4502)

Zasocitinib poised to lead the oral

psoriasis market

Maintain Rating: BUY | PO: 6,000 JPY | Price: 5,033 JPY

12 June 2026

Zasocitinib demonstrates superiority over Sotyktu Equity

After the market close on the 11th, Takeda announced topline results from the Phase 3

LATITUDE Atlas trial of zasocitinib, an oral TYK2 inhibitor for psoriasis. This Koichi Mamegano >>

Research Analyst

head‑to‑head study compared zasocitinib with Sotyktu (BMS), and zasocitinib BofAS Japan

demonstrated superiority across all endpoints versus Sotyktu. The primary endpoint was koichi.mamegano@bofa.com

PASI 100 at Week 16, where zasocitinib achieved a response rate of over 35%, more Takefumi Kobayashi >>

than 2.5 times higher than Sotyktu. The safety profile was consistent with prior data, BofAS Japan

with no new safety signals observed. Overall, the LATITUDE Atlas results are positive. takefumi.kobayashi@bofa.com

We maintain our Buy rating with a price objective of ¥6,000. Ritsuo Watanabe >> Research Analyst

BofAS Japan

ritsuo.watanabe@bofa.comPASI 100 >35% at Week 16 comparable to biologics

A PASI 100 response rate of over 35% at Week 16 is comparable to the 30–50% range

reported for established biologics, such as IL‑23 antibodies, indicating that zasocitinib

has achieved top‑tier efficacy for an oral therapy. While cross‑trial comparisons should Stock Data

be interpreted with caution, oral IL‑23 inhibitor Icotyde (JNJ) has reported PASI 100 rates

in the ~30% range, suggesting that zasocitinib is positioned at a higher efficacy level Price (Common / ADR) 5,033 JPY / 15.68 USD

among oral agents.