Stonegate Capital Partners sets AB Science target price at EUR 4.25

Stonegate Capital Partners, an independent research and investor relations firm based in the U.S., has updated its coverage of pharmaceutical development company AB Science. In its latest research note, Stonegate established a median price target of €4.25 per share for AB Science, based on a discounted cash flow valuation.

The update highlights a clearer strategy for AB Science, now focusing on two main priorities: masitinib for the treatment of Amyotrophic Lateral Sclerosis (ALS) and AB8939 for Acute Myeloid Leukemia (AML). While progressive Multiple Sclerosis (MS) and Alzheimer's disease remain significant upside potentials, they are now positioned as partnership-driven opportunities requiring substantial commercial infrastructure.

Masitinib is identified as AB Science's primary clinical asset in ALS. The confirmatory Phase 3 trial, AB23005, designed for 408 patients, has received clearance from the U.S. Food and Drug Administration (FDA). Preliminary data from the targeted patient population have shown notable benefits in ALSFRS-R and CAFS scores, as well as median progression-free survival and overall survival.

AB8939 is emerging as a significant second pillar. Step 3 of its AML combination treatment program has concluded, with Step 4 involving venetoclax and azacitidine pending regulatory approval. Early data indicated responses in all four treated patients, including complete or near-complete remission, despite prior extensive treatments and challenging cytogenetic profiles. While preliminary, these findings support further development in AML populations with significant unmet needs.

Financially, AB Science ended 2025 with over €10 million in cash and raised an additional €3.2 million through a private placement in April 2026. The company's operating loss decreased by 38%. AB Science has also received a clinical trial insurance offer that could cover up to €39 million for potential clinical failures.