Catalyst Biosciences Inc CBIO, a nano-cap clinical-stage biopharmaceutical company that focuses on the treatment of hemophilia, has high expectations for its therapy for the treatment of hemophilia B.
The Analyst
Chardan's Gbola Amusa maintains a Buy rating on Catalyst Biosciences' stock with a price target boosted from $10 to $75.
The Thesis
Catalyst demonstrated the true potential of its hemophilia B therapy, CB 2679d/ISU304, to become not only the first subcutaneously-delivered factor IX product in hemophilia B, but also a better overall product, Amusa said in a note. Specifically, the company's presentations at the European Association for Haemophilia and Allied Disorders (EAHAD) detailed how its therapy is 22 times more potent than the current standard care, BeneFIX.
The company also reported a "moderate generalized ache and mild subcutaneous (SQ) injection site discomfort in one subject and a brief mild adverse event among two other subjects, the analyst wrote.
The analyst's $65 per share price target boost is based on the fact that credible comparisons in the hemophilia B market trade at a minimum market capitalization of $500 million to $600 million versus its $151 million valuation as of Friday morning.
Price Action
Shares of Catalyst Biosciences were trading lower by 4 percent at $26.24 Friday.
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