Arecor Therapeutics (AREC)
AT278 ultra-concentrated insulin superior to benchmarks
Arecor’s lead compound AT278, a unique ultra-rapid and ultra-concentrated insulin, has successfully shown superiority to benchmark fast-acting or concentrated insulins in a Phase I study in Type II diabetes (T2D). This follows a similarly positive outcome in a previous Phase I study in Type I diabetics (T1D). Demonstrating AT278’s clinical efficacy in difficult-to-treat overweight/obese T2D patients confirms the validity of the formulation, shows its profile is attractive for T2D patients with high insulin needs, as well as being ideally suited for the emerging needs of “next generation” insulin pumps. Continued development is strongly supported by the data and unmet patient needs, and the focus will now be on the optimal strategy to further advance AT278. Our updated valuation is largely unchanged at £179m, or 584p/share.
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