- On Monday, REGENXBIO Inc (NASDAQ:RGNX) announced a program update from its ongoing clinical investigation of RGX-314 for wet AMD, a leading cause of vision loss globally.
- RGX-314 showed a meaningful reduction in treatment burden across all dose levels.
- The highest reduction in treatment burden was seen in Cohort 4 (Dose 3), with an 85% reduction in annualized injection rate and 67% injection-free.
- On the safety front, a dose-dependent increase in inflammation rate/severity was observed.
- RBC Capital said it remains on the sidelines given a limited conviction for the lead indications in non-life threatening indications where current SOC continues to progress.
- The analyst lowered the price target from $47 to $29, reiterating the Sector Perform rating.
- The analyst notes that the risk-benefit profile skews incrementally more negatively. The lowered price target reflects a mixed update today and a competitive landscape that continues to intensify.
- Price Action: RGNX shares are down 5.05% at $22.95 on the last check Tuesday.
Why Siyata Mobile Shares Are Trading Lower By 21%? Here Are Other Stocks Moving In Tuesday’s Mid-Day Session
Gainers
CytoMed Therapeutics Limited (NASDAQ: GDTC) shares climbed 129.5% to $8.01 after gaining 9% on Monday.
