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Climb Bio's Phase-1 Data From IgA Nephropathy Trial 'Positive,' Wedbush Says

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Climb Bio's (CLYM) data from the first phase of its trial evaluating CLYM116 in patients with IgA nephropathy was "positive," Wedbush analysts said in a Friday note.

Analysts said they see favorable risk/reward for Climb Bio's shares as additional phase 1 data will likely be presented at the American Society of Nephrology.

Some investors were looking for a more clear-cut "winner" between Climb Bio and Jade Biosciences (JBIO) in their nephropathy clinical trials, Wedbush said.

Analysts said they expect the valuation gap between Climb Bio and Jade Biosciences to narrow over time as both agents offer benefits compared with first-gen agents.

Wedbush kept its outperform rating and a $25 price target on the stock.

Shares of the company were up nearly 8% in Friday trading.

Price: $15.75, Change: $+1.16, Percent Change: +7.95%

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