- HC Wainwright assumes coverage on Immunic Inc (NASDAQ:IMUX), a late-stage clinical biotech company developing oral small molecule inhibitors for multiple sclerosis (MS) and psoriasis.
- The analyst issued a Buy call on the stocks with a price target of $26.
- Lead drug vidofludimus calcium (IMU-838) is a novel oral DHODH inhibitor and Farnesoid X receptor (FXR) ligand currently in Phase 3 trials for relapsing MS (RMS) and Phase 2 trials for progressive MS (PMS).
- HC Wainwright notes FDA-approved Sanofi SA (NASDAQ:SNY) Aubagio is a DHODHi, but without a clean safety profile, it still generated over $2 billion in sales in 2020.
- IMU-838 has already succeeded in a Phase 2 trial for MS with a clean safety profile.
- IMU-838 showed significant protection against serum neurofilament level (sNfL) increases, a neuronal damage marker, similar to reductions seen with Roche Holding AG’s (OTC:RHHBY) successful Ocrevus, relatively recent (2017) launch in the “crowded” Multiple Sclerosis space.
- The analyst notes that IMU-838 could be the first oral to offer neuroprotection to Multiple Sclerosis patients and will gain market share in progressive MS, making its launch distinct from other oral MS drugs.
- Price Action: IMUX shares are trading at $3.91 on the last check Monday.
What 10 Analyst Ratings Have To Say About Riot Platforms
Within the last quarter, Riot Platforms (NASDAQ:RIOT) has observed the following analyst ratings: Bullish Somewhat Bullish Indifferent Somewhat…
