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Inventiva's NASH Pact In China Represents 'Financially Prudent Pathway,' Says This Analyst

  • Last week, Inventiva (NASDAQ: IVA) announced a licensing and collaboration agreement with Sino Biopharm's subsidiary Chia Tai-Tianqing Pharmaceutical Group (CTTQ) to develop and commercialize lanifibranor in Greater China.

  • Regardless of CTTQ's decision on lanifibranor's clinical development pathway in China, HC Wainwright notes that Sino Biopharm is a vertically-integrated company with substantial R&D, manufacturing, sales, and marketing capability.

  • The analyst regards the collaboration as a financially prudent pathway for lanifibranor's expansion to a major NASH market, given Sino Biopharm's experience as a commercial-stage company in Greater China.

  • HC Wainwright affirms a Buy rating but lowered the price target from $42 to $36 based on the expected enrollment delay for the pivotal Phase 3 NATiV3 trial.

  • The analyst adjusted the projected sales trajectory of lanifibranor for the treatment of NASH to reflect the latest clinical timeline (last patient's first visit in 2H23, and top-line data readout in 2H25).

  • These changes reduced the analyst's projected peak revenues of lanifibranor in NASH to €1.7 billion in 2034 (previously €1.9 billion).

  • Price Action: IVA shares are up 0.26% at $3.93 on the last check Monday.

Latest Ratings for IVA

Date

Firm

Action

From

To

Nov 2021

HC Wainwright & Co.

Maintains

Buy

Sep 2021

HC Wainwright & Co.

Maintains

Buy

Mar 2021

Societe Generale

Downgrades

Buy

Sell

View More Analyst Ratings for IVA

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