Why Omega Therapeutics (OMGA) Shares Are Trading Higher Today - Omega Therapeutics (NASDAQ:OMGA)

HC Wainwright has initiated coverage on Omega Therapeutics Inc OMGA with a Buy rating and a price target of $11.
The analyst writes that the company's platform appears applicable to a wide array of therapeutic indications ranging from oncology to multigenic diseases, including immunology and regenerative medicine.
The company's lead program, OTX-2002, is in a Phase 1/2 trial for relapsed or refractory hepatocellular carcinoma.
HC Wainwright says that OTX-2002 could prove an intriguing new HCC drug, possibly in combination with either sunitinib or another approved agent, lenvatinib.
Related: Omega Therapeutics Touts Encouraging Preclinical Data In Liver Cancer Animal Models.
The Phase 1/2 trial utilizes a two-part design, with Part 1 involving dose escalation to determine the safety profile, followed by a monotherapy expansion cohort to conduct a preliminary assessment of efficacy using objective response rate (ORR) and duration of response (DOR) parameters.
Part 2 shall assess the combination of OTX-2002 and standard-of-care (SOC) treatment with kinase inhibitors in HCC patients.
Data from Part 1 will be released in 1H23, followed by Part 2 data in late 2023.
The analyst notes that from a vantage point, the HCC and NSCLC indications are lucrative arenas with peak sales potential of $750 million and $6.7 billion by 2035, respectively.
Price Action: OMGA shares are up 10.8% at $6.98 on the last check Thursday.

Omega Therapeutics Could Offer 'Intriguing' Liver Cancer Drug, Analyst Says