Panmure Liberum has maintained its 'buy' rating and punchy price target for shares in Arecor Therapeutics PLC (AIM:AREC) after it said it would be presenting data from a phase I trial of its fast-acting insulin AT278 at a leading industry conference.
The study involved overweight and obese individuals with Type 2 diabetes, showing that AT278 significantly accelerates insulin absorption compared to NovoRapid, a commonly used fast-uptake insulin.
The findings are consistent with previous results in people with Type 1 diabetes, confirming that AT278 retains its faster action profile, regardless of diabetes type or body mass index (BMI).
As a highly concentrated insulin (500 U/mL), AT278 offers a solution for patients with high daily insulin requirements, reducing injection volume while maintaining efficacy.
The rapid absorption profile of AT278 also makes it an important development for next-generation, miniaturised insulin pumps, which require more concentrated insulins to reduce size and increase wear time. No safety concerns were identified during the trial, highlighting a favourable safety profile.
"Although progression of AT278 is currently limited by the need for funding, this remains a very valuable programme, offering the potential for significant expansion in the use of insulin pumps, and we see it as a future driver of share performance," said Panmure Liberum in a note to clients.
"The high-profile presentation should encourage co-development or partnering interest."
Arecor shares were trading sideways mid-morning. Panmure-Liberum's price target is 371p.