Regeneron Pharmaceuticals (REGN) is approaching a series of incremental catalysts, including the data readout from the phase 3 China study of olatorepatide next week, RBC Capital Markets said in a Thursday note.

RBC said topline efficacy data on olatorepatide, the company's weight-management product candidate, has been generally announced, with up to a 19% mean weight loss at week 48. Focus would be on the safety of therapy at the 15-milligram dose, the brokerage noted.

Late-breaking abstract data indicate the 15-milligram dose as the best option to proceed with, versus other evaluated doses, based on efficacy, though safety details remain pending, RBC said. Olatorepatide's initial safety profile seem "more benign" compared with tirzepatide, but the China data could bring more reassurance to investors, the investment firm added.

RBC maintained its sector perform rating on Regeneron Pharmaceuticals, with a $737 price target.

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