U.S. drugmaker Pfizer Inc. (PFE) on Wednesday disclosed positive top-line results from Phase 3 JADE TEEN study of abrocitinib, its investigational oral inhibitor drug for the treatment of atopic dermatitis.
The study results showed that different doses of abrocitinib given to patients 12 to <18 years of age with moderate to severe atopic dermatitis (AD), who were also on background therapy, met the co-primary endpoints and were generally well tolerated. The percentage of patients achieving each co-primary efficacy endpoint at Week 12 was statistically significantly higher with both doses of abrocitinib than with placebo.
“Up to twenty percent of children are affected by atopic dermatitis and there remains a significant unmet need for new treatment options that may improve their care,” said Michael Corbo, Chief Development Officer of Inflammation & Immunology at Pfizer. “For children and adolescents, these findings build on the positive results of our companion Phase 3 monotherapy trials that included patients twelve years and older.”
The results from the tested doses showed statistically significant proportions of patients getting clear or almost clear skin and achieving at least a 75% improvement in AD symptoms. JADE TEEN is the fourth trial in the drugmaker’s late stage study. Pfizer said it expects additional data from other studies in the JADE program to be released later this year.
Pfizer shares are close to recouping all of this year’s losses trading at $36.21 as of Tuesday’s close.
Earlier this month, RBC Capital analyst Randall Stanicky reiterated a Buy rating on the stock with a $43 price target (19% upside potential), saying that following a disappointing outcome for the drugmaker’s Phase 3 PALLAS early breast cancer study, shares have been under pressure.
Stanicky added that the “push-back has centered on growth from here and specifically IBRANCE outlook, pipeline potential, business development needs”.
“We completely removed all adjuvant contribution lowering our revenue by 1-2% in the outer years understanding that LOE is expected in the ~mid-2027 time frame,” he added.
Overall, Wall Street analysts are cautiously optimistic on Pfizer’s shares with 7 Hold versus 3 Buy ratings. This gives the stock a Moderate Buy consensus with a $40.66 average price target (12% upside potential to current levels). (See Pfizer stock analysis on TipRanks).
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