BTIG reiterated
$COYA Buy-$15, says "today's data seem very supportive of the previous clinical readout.
$NVO $BIIB $ITCI $LLY $VKTX
"Specifically, blood biomarker data demonstrating anti-inflammatory effects continue to support monthly COYA301 (low-dose IL-2) dosing over a bi-weekly dosing regimen.
Important to the bigger picture, today's data are consistent with previous readouts in which
monthly dosing of COYA301 showed decent signs of cognitive improvements and CSF biomarkers, while noisier results were observed with the bi-weekly dosing arm (Exhibits 1-2).
Additionally, a greater extent of improvements in Treg numbers and their suppressive function were observed from monthly dosing compared to bi-weekly dosing.
Net-net, these combined results suggest that at a bi-
weekly dosing regimen, IL-2 is stimulating broader immune cells beyond Treg cells that have the high-affinity IL-2 receptor and these additional activated cells are not a positive factor in disease control.
Going forward, the company has expanded its pipeline with COYA303, a combination of low-dose IL-2 and a GLP-1 RA. This combination approach will likely benefit from the potential synergistic anti-inflammatory effects of the two components. We believe the clinical potential of GLP-1 RAs in AD has been meaningfully de-risked with the recent data showing that daily subcutaneous injections of Liraglutide are associated with slower brain volume loss and reduced cognitive decline (reductions of approximately 18% in a year).
Novo Nordisk (
$NVO, Not Rated ) hopes to get a definitive answer for whether GLP-1 receptor agonism reduces cognitive decline in AD patients based on two large placebo-controlled P3 studies, EVOKE and EVOKE . These trials treat patients with early-stage symptomatic AD with once-daily oral semaglutide or
placebo. The primary endpoint will be measured by changes in the CDR-SB score at week 104, and the study's primary completion is expected around September 2025 (source:
Clinicaltrials.gov)."