UBS Group believes that the company's Phase 2 research results can support Phase 3 research.
According to the China Fortune Financial app, UBS Group released a research report stating that it maintains a 'buy' rating for Innocare (09969) and raises its target price from 7.6 Hong Kong dollars to 8.6 Hong Kong dollars. The bank believes that the company's Phase 2 research results can support Phase 3 research. The company has been actively seeking potential global partners for this asset.
The bank pointed out that Innocare held an investor conference on October 10, announcing positive results of the Phase 2 clinical trial of ICP-488 (TYK2) for severe plaque psoriasis patients. The study met the main key point of PASI 75 at week 12, with significant statistical differences in daily doses of 6 milligrams and 9 milligrams, and other efficacy indicators also showing promising prospects.
