BUZZ-Morgan Stanley bullish on Generate Biomedicines, cites strength of lead asthma drug

Reuters03-26 01:52
BUZZ-<a href="https://laohu8.com/S/MSPQL">Morgan Stanley</a> bullish on <a href="https://laohu8.com/S/GENB">Generate Biomedicines</a>, cites strength of lead asthma drug

** Morgan Stanley initiates drug developer Generate Biomedicines GENB.O with an "overweight" rating as research quiet period ends

** Company secured a valuation of nearly $1.91 bln at open after its debut on the Nasdaq late last month

** Brokerage cites, "we see GENB's lead asset, GB-0895, as having best-in-class potential vs. blockbuster generating commercial benchmarks"

** GB-0895 is GENB's lead product to treat severe asthma which is being tested in a late-stage trial

** "We believe GB-0895 has credible best-in-class potential in severe asthma by improving on a validated mechanism rather than reinventing the biology"- MS

** Goldman Sachs, Morgan Stanley, Piper Sandler, Guggenheim Securities and Cantor were the underwriters for GENB's offering

** As of last close, stock down 24% since its debut on Feb. 27

(Reporting by Pragyan Kalita in Bengaluru)

((Pragyan.Kalita@thomsonreuters.com;))

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