Abeona Therapeutics (ABEO) ABO-102 Data is a 'Promising Start' - Cantor Fitzgerald
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Cantor Fitzgerald analyst Elemer Piros reiterated a Buy rating and $21 price target on Abeona Therapeutics (NASDAQ: ABEO) after the company reported initial 30-day data from three Sanfillipo Type A (MPS IIIA) patients treated with its gene therapy candidate ABO-102 (AAV-SGSH) at a low dose of 5E12vg/kg.
Piros calls it a 'promising start': "A one-time treatment with ABO-102 resulted in mean reductions in CSF gylocosaminoglycan (GAG)-levels of 25.6% + 0.8% and urine GAG decrease of 57.6% + 8.2% within one month. Moreover, these patients had liver and spleen reductions of 17.1% + 1.9% and 17.6% + 7.1%, respectively, as determined by MRI. As a reminder, the three patients were enrolled initially into a MPS IIIA natural history study in which patients had an average liver and spleen enlargement of 116% and 88%, respectively. This enlargement remained unchanged at the time of rollover into the Phase 1/2 study."
Shares of Abeona Therapeutics closed at $7.76 yesterday.
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