Artiva Biotherapeutics (ARTV) is maintained as a "Buy," driven by FDA alignment for a single phase 3 trial of AlloNK plus rituximab in refractory RA. Company's AlloNK plus rituximab demonstrated strong ACR50 response rates in early studies, with phase 3 initiation targeted for 2H 2026 and data expected in 2H 2028. The company addresses a significant unmet need in 3rd-line RA, targeting 150K–200K U.S. patients unresponsive to prior biologics, with a $5 billion spend on this population.