- HC Wainwright has initiated coverage on 4D Molecular Therapeutics Inc (NASDAQ:FDMT) with a price target of $36 and a Buy rating.
- The analyst lists the following reasons for being bullish on the stock.
- The analyst believes R100 intravitreal vector delivery in wet age-related macular degeneration patients could define a paradigm shift in available therapies, specifically in the context of SOC repeat intravitreal injections of anti-VEGF therapy.
- With the vector pipeline spanning ophthalmology, cardiology, pulmonology, and vector transport by multiple delivery methods, HC Wainwright believes there are multiple opportunities for optimized vector targeting.
- The analyst highlights supportive interim results from the ongoing Phase 1/2 trial.
- Recently, the company announced interim clinical data from cohort 1 of the Phase 1/2 trial of intravitreal 4D-150 for Wet Age-Related Macular Degeneration (wet AMD).
- 4D-150 was safe and well tolerated, with no serious adverse events or dose-limiting toxicities reported.
- Price Action: FDMT shares are up 1.85% at $22.82 on the last check Friday.
IGC Pharma Secures $3M Via Private Placement
IGC Pharma, Inc. (AMEX:IGC) announced a strategic investment from four investment funds managed by Bradbury Asset Management (Hong Kong) Limited, an asset management firm with over $2 billion in managed assets.
