MaaT Pharma SACA Maintains Positive Outlook as Phase 3 Trial Data Strengthens

First Berlin Equity Research reaffirmed its "BUY" recommendation for MaaT Pharma SACA, maintaining a target price of €17. The decision follows the presentation of final data from the ARES Phase 3 trial at the 2025 ASH Annual Meeting. The trial evaluated Xervyteg (MaaT013) in patients with GI-aGvHD resistant to steroids and ruxolitinib. Results indicated a 12-month overall survival rate of 54%, with early response predicting outcomes effectively. The safety profile was consistent with previous updates. These results support MaaT Pharma's application for EMA marketing authorization, with a decision expected in mid-2026.