CBIO News & Events

BTIG analyst Julian Harrison says AbbVie (ABBV) can leverage its existing dermatology channels and compete in atopic dermatitis beyond JAK inhibitors with an acquisition of Apogee Therapeutics (APGE). Johnson & Johnson (JNJ), Pfizer (PFE), and Novartis (NVS) have strong dermatology channels but no prominent commercial presence in atopic dermatitis yet, and therefore could also be interested in acquiring Apogee, the analyst tells investors in a research note. BTIG views the Financial Times' report of AbbVie's potential buyout of Apogee as positive for other spinouts from Paragon Therapeutics, including Jade Biosciences (JBIO), Oruka Therapeutics (ORKA), Spyre Therapeutics (SYRE), and Crescent Biopharma (CBIO). The firm has a Buy rating on Apogee Therapeutics with a $137 price target. The stock in premarket trading is up 54%, or $49.10, to $139.48.

Reports Q1 revenue $1.04M, consensus $357,140. "Crescent's execution on the advancement of our pipeline this quarter positions us for meaningful clinical data readouts in 2027 from CR-001, our potentially best-in-class PD-1 x VEGF bispecific antibody, as well as our differentiated ADC programs. The innovative design of our Phase 1/2 ASCEND study of CR-001 enables us to quickly generate comprehensive data for this next generation immuno-oncology backbone both as monotherapy and in combination with standard of care chemotherapy in multiple tumor types, and we're also working with our partner, Kelun-Biotech, to deliver ADC combination data," said Joshua Brumm, chief executive officer of Crescent. "We are pleased that both our global ASCEND trial and the Phase 1/2 trial of CR-003 in China are progressing well. We are on track to initiate two more trials during the second half of 2026, with the first ADC combination study for CR-001 and planned clinic entry for CR-002. This continued momentum underscores our commitment to delivering transformative therapies for people living with cancer."