AB Science: Stonegate Targets €4.25 Per Share Following 2025 Results
Stonegate Capital Partners, an independent US-based research firm, updated its coverage of AB Science's stock on Tuesday following the release of the 2025 results, setting a median price target of EUR 4.25 per share based on a discounted cash flow valuation.
Two Priority Therapeutic Areas and Clearer Resource Management
In its update published on May 26, 2026, Stonegate notes that AB Science's strategy now revolves around two priorities: masitinib in amyotrophic lateral sclerosis (ALS) and AB8939 in acute myeloid leukemia (AML). According to the broker, this reorientation reflects a clearer capital allocation, while progressive multiple sclerosis and Alzheimer's disease, although still sources of potential upside, are repositioned as partnership opportunities, given their scale and the required commercial infrastructure.
Masitinib in ALS: Authorized Phase 3 Trial with Positive Early Results
Stonegate highlights that the confirmatory trial AB23005 has been authorized by the FDA. This 48-week study involving 408 patients evaluates masitinib at 4.5 mg/kg/day combined with riluzole compared to a placebo plus riluzole in patients with normally progressing ALS without total loss of function. AB Science reported a 4.04-point benefit on the ALSFRS-R scale, a relative benefit of +20.2% on the CAFS scale, a 9-month benefit in terms of median progression-free survival, and a 12-month benefit in overall median survival, alongside the identification of a potential plasma biomarker related to the activity of microglia and mast cells.
AB8939 in AML: Preliminary Data and Secured Clinical Funding
AB8939 emerges as a second pillar with the completion of stage 3 of the combined treatment program (14 days of AB8939 plus venetoclax), with stage 4 planning to add azacitidine subject to regulatory approval. Initial data showed responses in four treated patients, including one complete remission, one near-complete response, and two partial responses, in patients who had undergone numerous treatments and presented a challenging cytogenetic profile. Financially, AB Science recorded a 38% decrease in operating loss excluding non-recurring items to €3.8 million, while the company closed 2025 with €10.2 million in cash and raised an additional €3.2 million in April 2026. Stonegate notes that the company received a financial insurance offer for clinical trials covering AB23005, with a deductible-free coverage of €25 million, extendable to €39 million.
