2025-06-11-Jefferies-提醒_OMass_Therapeutics纽约非交易路演及团体午餐-_6月26日（周四）_6页_258kb

Summary of Jefferies Equity Research Report (USA Biotechnology, June 12, 2025)

Overview

This report is Jefferies' US Biotechnology equity research, focusing on OMass Therapeutics for an upcoming investor meeting and discussing Crinetics Pharmaceuticals for valuation and risk assessment.

Key Event

An in-person conference call is scheduled for Thursday, June 26, 2025, in New York City with OMass Therapeutics (private biotech). The event includes one-on-one meetings and a group lunch. Attendance includes CEO Ros Deegan and VP of Clinical Development Steve Griffen. Interested individuals can register via Jefferies' sales representatives, and available time slots are provided.

OMass Therapeutics Analysis

• Company Background: OMass Therapeutics is a private biotech firm developing novel oral drugs for rare diseases, including a lead asset targeting Cushing's Adrenal Hyperplasia (CAH). The ACTH receptor antagonist, analogous to CRNX's atumelnant, is designed to be more potent and is currently in preclinical development; the company may advance it to Phase I trials in late 2025.
• Pipeline: Additional preclinical assets target GPR65 for inflammatory bowel disease, SLC15A4 for lupus, and cGAS/STING for immunology.
• Management: Ros Deegan (CEO), Steve Griffen (VP Clinical Development).

Crinetics Pharmaceuticals Analysis

• Valuation and Recommendation: Crinetics (CRNX) has a Buy recommendation with a price target based on a risk-adjusted, security-oriented total price (SOTP) valuation methodology. Risks include clinical, regulatory, and commercial uncertainties.
• Risks: Potential difficulties in achieving the price target due to factors like clinical trial outcomes, regulatory approvals, and market conditions.
• Analyst Certifications: Dennis Ding, Anthea Li, and Georgia Bank certify their views and independence in the coverage.
• Disclosure: Analysts may have conflicts of interest due to ties with Jefferies and associated businesses, and performance is not guaranteed.

Conflicts and Warnings

• Disclosures highlight conflicts of interest, as Jefferies may seek business from covered companies. Investors should consider this report as one factor among many, with no guarantee of future performance or suitability for all investors. Market risks, economic factors, and regulatory barriers are emphasized.

Disclaimer

This is Jefferies client-only material; unauthorized distribution prohibited. Additional disclosures cover legal, ethical, and compliance aspects for various jurisdictions.