EQS-News / 04/07/2022 / 17:56 UTC+8
CICC Initiates Sirnaomics (2257.HK) at Outperform Rating with Target Price of HKD106.00
China International Capital Corporation (CICC) initiates coverage of Sirnaomics at “Outperform” rating, with a target price of HKD106.00.
CICC said, Sirnaomics is an RNA therapeutics pioneer in China. RNA therapeutics is a rapidly growing field with potential in various indications. Sirnaomics has disclosed over 15 candidates, including two in the clinical stage. STP705 is a siRNA candidate acting as dual TGF-β1/COX-2 inhibitor for local administration. CICC expect STP705 to be marketed in the US in 2024 and in China in 2025, and generate global risk adjusted peak sales of US$617mn in 2031. STP707 is a siRNA candidate also targeting TGF-β1/COX-2 but with potential for systemic administration. CICC expect STP707 to be marketed in 2026 and we estimate it will generate global risk adjusted sales of US$376mn by 2037.
Sirnaomics owns proprietary RNA delivery platforms to solve principal challenges to RNAi therapeutics. Sirnaomics has proprietary polypeptide nanoparticle (PNP) and novel N-acetyl galactosamine (GalNAc) delivery platforms. PNP delivery platform allows delivery of both siRNA and mRNA to target cells via local or intravenous administration in low toxicity. It is easy to manufacture and can reach more additional targeted organs other than the liver.
CICC believe PNP could have wider use if STP707 has positive read-out in its proof of concept (PoC) trials. Therefore CICC initiates coverage of Sirnaomics at “Outperform” rating.
04/07/2022 Dissemination of a Financial Press Release, transmitted by EQS Group.
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