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Panmure Liberum has reaffirmed its positive rating and ambitious price target for shares in Arecor Therapeutics PLC (LSE:AREC) following the company’s announcement of data presentation from a Phase I trial of its fast-acting insulin, AT278, at a major industry conference.
The Phase I trial focused on overweight and obese individuals with Type 2 diabetes, demonstrating that AT278 significantly accelerates insulin absorption compared to NovoRapid, a widely used fast-acting insulin. These results align with previous findings in individuals with Type 1 diabetes, confirming that AT278 maintains its rapid action profile regardless of diabetes type or body mass index (BMI).
AT278, a highly concentrated insulin formulation (500 U/mL), offers a solution for patients requiring high daily insulin doses. It reduces injection volume while preserving effectiveness, making it a valuable option for those with substantial insulin needs. Additionally, the rapid absorption profile of AT278 is particularly advantageous for next-generation, miniaturized insulin pumps, which necessitate more concentrated insulins to minimize size and extend wear time. No safety issues were noted during the trial, indicating a favourable safety profile.
Panmure Liberum highlighted the potential of AT278 to drive future performance. The firm noted that while progress is currently constrained by funding needs, the program remains highly valuable due to its potential to expand the use of insulin pumps. The high-profile presentation of the data is expected to stimulate interest in co-development or partnerships.
Shares in Arecor Therapeutics were stable in mid-morning trading, reflecting the market’s cautious optimism. Panmure Liberum has set a price target of 371p for Arecor shares, underlining its confidence in the company's future prospects and the potential impact of AT278 on the insulin market.
