Design of FSCD Ph2b Announced with Passability as Primary Endpoint

研报英文原文证据摘录

Design of FSCD Ph2b Announced with Passability as Primary Endpoint

Update

June 24, 2026 12:42 PM GMT

Morgan Stanley & Co. LLCMAgomAb Therapeutics NV | North America Judah C. Frommer, CFA

Equity Analyst

Design of FSCD Ph2b Judah.Frommer@morganstanley.comNicholas D Japhet +1 212 761-1270

Research Associate

Nick.Japhet@morganstanley.com +1 212 761-2721

Announced with Passability as Parth Patel

Parth.Patel@morganstanley.com +1 212 761-5065

Primary Endpoint

AgomAb Therapeutics NV (AGMB.O, AGMB US)

Biotechnology | United States of America

Stock Rating Overweight

Industry View Attractive

Key Takeaways Price target $28.00

Shr price, close (Jun 23, 2026) $11.94

Endoscopic passability selected as primary endpoint for upcoming Ph2b NOV- Mkt cap, curr (mm) $604

52-Week Range $17.45-8.75

ERA study of ontunisertib in FSCD; S-PRO 2.0 to be key secondary.

Fiscal Year Ending 12/25 12/26e 12/27e 12/28e

Ontunisertib showed dose-dependent numerical benefit on passability vs. EPS (€)** (143.22) (1.75) (2.09) (2.34)

placebo in the Ph2a STENOVA study. Prior EPS (€)** - - - -

P/E NM NM NM NM

Ph2b NOV-ERA on track to dose first patients in 2H26. EPS (€)§ (70.99) (1.53) (1.82) (1.92)

Div yld (%) - - - -

AGMB announced that it has reached alignment with FDA on the design of its Unlessframeworkotherwise noted, all metrics are based on Morgan Stanley ModelWare

Ph2b NOV-ERA study of ontunisertib in FSCD. Recall from our initiation (see here), **§ ==ConsensusBased on consensusdata is providedmethodologyby Refinitiv Estimates

there are no approved therapies for FSCD and no precedents for a registrational e = Morgan Stanley Research estimates

Quarterly EPS (€)

trial. As such, a consistent line of questioning amongst investors has revolved

2026e 2026e 2027e 2027e