1Q26 - Abdakibart Looks Well-Positioned to Advance Into Phase 3 Development. UCB 1H26 Earnings and Lutikizumab Phase 3 HS Data Likely Next Key External Catalysts.

研报英文原文证据摘录

1Q26 - Abdakibart Looks Well-Positioned to Advance Into Phase 3 Development. UCB 1H26 Earnings and Lutikizumab Phase 3 HS Data Likely Next Key External Catalysts.

omentum given its enhanced activity, supporting our expectation for further market expansion

with increased access for Bimzelx over time. HS remains a high-growth opportunity that is substantially underpenetrated, with

only two Tx classes commercially available, so we continue to see a significant opportunity for an effective Tx option with a novelRESEARCH mechanism to command considerable market share and think Bimzelx's strong performance to date reads through positively to

new market entrants that are meaningfully differentiated.

LOTUS met the primary endpoint for both dosing regimens; abdakibart expected to advance to registrational Phase 3 trial. The

Phase 2 trial (LOTUS) of abdakibart in HS enrolled 253 patients, exceeding target enrollment of 222, with moderate-to-severe

HS (AN count ≥5, Hurley Stage II or III). Enrolled patients were randomized 1:1:1 to receive one of two abdakibart doses (600mg

LD followed by 300mg SC Q4W or 300mg LD followed by 150mg SC Q2W) or placebo over 16wks. The trial utilized a primary

endpoint of 16wk HiSCR75. Of note, more holistic efficacy measures such as IHS4, NRS30, AN change, and HiSCR90, were included

as secondary endpoints, which provided additional insight into abdakibart's disease-modifying potential. Mgmt. has announced

plans to advance abdakibart into a registrational Phase 3 program.

This is the right time to be investing in novel therapies in development for HS. IL-17 inhibitors are expected to expand the HS

market significantly, but large unmet needs will likely still remain. On HiSCR50 at 16wk, Cosentyx looks slightly less active than