On Monday, TD (TSX:TD) Cowen expressed a positive stance on Arcellx Inc. (NASDAQ: ACLX), maintaining a Buy rating for the biotech company.
Following a dinner with management from both Arcellx and Kite, the firm highlighted the potential of Arcellx's anito-cel treatment.
"The efficacy remains at least as good as Carvykti, but with superior safety due to a lack of delayed neurotox/PD and lower CR," the firm said.
The lack of delayed neurotoxicity and lower cytokine release syndrome (CRS) rates could position anito-cel as a leading therapy, particularly in earlier treatment lines.
The analyst cited the CARTITUDE-1 ASH 2020 abstract as the most appropriate comparison, noting that it had a similar median follow-up time to the iMMagine-1 trial. The recent iMMagine-1 results showcased an impressive overall response rate (ORR) of 97% and a complete response rate (CRR) of 62%, with minimal residual disease (MRD) negativity in 93% of patients. These figures are highly competitive with CARTITUDE-1, which reported a 95% ORR, a 56% CRR, and a 94% MRD negativity rate.
Furthermore, the consistent complete response rate observed in the iMMagine-1 trial, despite a shorter median follow-up, was emphasized as indicative of a genuine and lasting treatment effect. The earlier data release for iMMagine-1 had already shown promising results with a 95% ORR, a 62% CRR, and a 92% MRD negativity rate, with these figures holding steady or slightly improving over time.
Arcellx's manufacturing capabilities for anito-cel were also praised, with the firm describing them as "far superior." This aspect could be a significant advantage for the company as it seeks to establish a strong position in the market for cancer treatments.
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