U.S. markets close in 2 hours 44 minutes
  • S&P 500

    4,272.24
    -1.80 (-0.04%)
     
  • Dow 30

    33,867.07
    -113.25 (-0.33%)
     
  • Nasdaq

    12,947.72
    +9.60 (+0.07%)
     
  • Russell 2000

    1,986.86
    -0.45 (-0.02%)
     
  • Crude Oil

    90.34
    +2.23 (+2.53%)
     
  • Gold

    1,770.20
    -6.50 (-0.37%)
     
  • Silver

    19.43
    -0.30 (-1.53%)
     
  • EUR/USD

    1.0085
    -0.0095 (-0.94%)
     
  • 10-Yr Bond

    2.8840
    -0.0090 (-0.31%)
     
  • GBP/USD

    1.1924
    -0.0128 (-1.06%)
     
  • USD/JPY

    135.8280
    +0.7380 (+0.55%)
     
  • BTC-USD

    23,395.95
    -23.23 (-0.10%)
     
  • CMC Crypto 200

    558.85
    +1.12 (+0.20%)
     
  • FTSE 100

    7,541.85
    +26.10 (+0.35%)
     
  • Nikkei 225

    28,942.14
    -280.63 (-0.96%)
     

HC Wainwright Is Bullish On DICE Therapeutics - Read Why

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • 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.

Latest Ratings for DICE

Date

Firm

Action

From

To

Oct 2021

B of A Securities

Initiates Coverage On

Buy

View More Analyst Ratings for DICE

View the Latest Analyst Ratings

See more from Benzinga

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.