Ascentage Pharma Receives Buy Rating and $48 Target; APG-3288 Secures Dual IND Clearance
Ascentage Pharma received a Buy rating and $48 target from Rodman & Renshaw, citing its hematology pipeline and programs targeting drug resistance in blood cancers. BTK degrader APG-3288 secured IND clearance by the U.S. FDA and China’s CDE, enabling a multicenter Phase I trial in relapsed or refractory hematologic malignancies.
1. Rodman & Renshaw Initiates Buy Rating
On January 14, Rodman & Renshaw began coverage of Ascentage Pharma with a Buy rating and a $48 price target. The firm highlighted the company’s hematology-focused pipeline, emphasizing next-generation programs designed to overcome drug resistance in blood cancers as key upside drivers.
2. APG-3288 Secures Dual IND Clearance
On February 5, APG-3288, Ascentage’s PROTAC-based BTK degrader, received Investigational New Drug clearance from both the U.S. FDA and China’s Center for Drug Evaluation. The dual clearances de-risk the program and pave the way for a multicenter Phase I trial in patients with relapsed or refractory hematologic malignancies.