UCB SA

UCB: XBRU (BEL)

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UCB Reports Pipeline Progress; Raising FVE to EUR 99, Shares Undervalued

Rachel Elfman

Nov 18, 2022

UCB announced the FDA has accepted its new drug application for pipeline candidate zilucoplan. Zilucoplan is a once-daily subcutaneous, self-administered peptide inhibitor of complement component 5 for the treatment of adult patients with acetylcholine receptor antibody positive (AChR-Ab+) generalized myasthenia gravis, or gMG. This is a rare autoimmune disease that affects about 700,000 people worldwide. We’ve raised our fair value estimate to EUR 99 per share from EUR 97, which reflects increased optimism for the approval of zilucoplan. We view shares as undervalued, currently trading in 4-star territory.

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