Cantor Fitzgerald has initiated coverage on Avidity Biosciences Inc
The analyst reports that Avidity has accumulated extensive biomarker and clinical data, significantly reducing the risks associated with their upcoming Phase 3 study.
Additionally, Dyne Therapeutics Inc
Despite the potential variability in biomarker data obtained from muscle biopsies, Avidity’s findings offer mechanistic support by demonstrating that del-desiran reduces DMPK RNA levels by 40-50% across various tested doses and has a dose-dependent effect on splicing mRNA.
Cantor analyst notes that Del-desiran focuses on addressing the core issue of disease progression, specifically targeting the toxic accumulation of the DMPK transcript.
Phase 2 trials have demonstrated promising results, paving the way for a Phase 3 trial to commence in the second quarter of 2024.
Based on these advancements, projections anticipate U.S. sales reaching $1.3 billion by 2031.
Cantor initiates with an Overweight rating and a price target of $60.
Avidity has two new clinical programs in Phase 1 development. One, AOC 1044, focuses on Duchenne Muscular Dystrophy that can be treated by skipping Exon 44, while the other, AOC 1020, targets facioscapulohumeral muscular dystrophy (FSHD).
Cantor notes that both programs utilize the same delivery mechanism as del-desiran, aim to tackle well-understood biological pathways, and hold the promise of becoming the first approved therapies for currently underserved patient groups.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.