Wall Street analysts upgraded Attovia Therapeutics following positive early-stage data for its experimental antibody ATTO-1310, which targets chronic itch and atopic dermatitis. Citi, Morgan Stanley and RBC Capital Markets raised price targets to $30, $39 and $45 respectively, citing promising Phase 1b results that showed rapid and durable symptom improvement.
In Phase 1b studies, 65% of chronic pruritus patients treated with ATTO-1310 achieved at least a four-point improvement on the Peak Pruritus Numerical Rating Scale at week four, compared with 11% on placebo. In high-itch atopic dermatitis, 44% met the same threshold versus 25% for placebo. Citi noted statistical significance emerged as early as week two, and free IL-31 levels remained suppressed for at least 12 weeks after a single dose.
Analysts also highlighted Attovia’s ATTOBODY platform, which uses biparatopic antibody fragments to inhibit the IL-31 ligand, a pathway implicated in itch signaling. Morgan Stanley estimated potential peak revenue of $500 million for ATTO-2306, while RBC projected global peak sales exceeding $2 billion. The firm noted the combination of two validated pathways could deliver a “best of both worlds” profile for itch and skin lesions, though competition in atopic dermatitis is intensifying.
Attovia’s cash position stood at approximately $115 million as of June 30, with Citi estimating pro forma cash near $420 million following an upsized IPO, providing a runway into 2030. The company remains pre-revenue and clinical-stage, and analysts cautioned that the Phase 1b cohorts were small and exploratory. The stock closed at $20.70 on Wednesday, down 3.54% for the session, after earlier trading between $20.70 and $21.46.
