- H.C. Wainwright analyst Emily Bodnar initiated coverage on DICE Therapeutics Inc (NASDAQ:DICE) with a Buy rating and a price target of $40 (150% upside).
- The analyst believes there is a high unmet need in the oral space for psoriasis, given that approved therapies such as Amgen Inc’s (NASDAQ:AMGN) Otezla only have PASI-75 rates of ~30%. Biologics have PASI-75 rates of up to 90%, but Otezla sales are over $2 billion annually despite this factor.
- DICE’s lead product, DC-806 is currently in a Phase 1 study (healthy volunteers and psoriasis patients) with full data expected in 3Q22 (H.C. Wainwright estimates mid/late August).
- If efficacy and safety data are positive, it will validate the company’s DELSCAPE technology platform, and DICE would be the furthest along in developing an oral IL-17 inhibitor.
- In preclinical models, DC-806 could match the level of IL-17 inhibition and the anti-inflammatory effect of Cosentyx (anti-IL-17 antibody), giving added confidence that DC-806 could have higher efficacy rates than some approved biologics.
- However, as an oral treatment, lower efficacy than anti-IL-17 antibodies would still be sufficient, H.C. Wainwright writes.
- Price Action: DICE shares are down 0.44% at $16.01 during the market session on the last check Monday.
This US College Is Rolling Out A Bitcoin Course For 74K Students
The adoption of Bitcoin (CRYPTO: BTC) and cryptocurrency courses in academic institutions is increasing rapidly, with Texas A&M being the most recent US college to offer a course in BTC to its more than 74,000 students.
