Catabasis Pharma (CATB): Preview of Edasalonexent Proof-Of-Concept Study - Wedbush
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Wedbush analyst, Heather Behanna, reiterated her Outperform rating on shares of Catabasis Pharma (NASDAQ: CATB) and her price target of $17 representing more than a 4x return on investment. The MoveDMD proof-of-concept study enrollment is complete and the analyst expects data in the first six weeks of 1Q17.
The analyst believes the science behind Catabasis’s NF-kB inhibitor, edasalonexent (CAT-1004), is sound and recent data from the World Muscle Society (WMS) suggests the compound is knocking down NF-kB in DMD boys. The analyst sees a compelling risk/reward for edasalonexent, with a best case scenario of a significant benefit (as measured by MR) at three months.
Boys will continue to be studied through a year to see functional changes and the analyst believes the six-month data can drive pivotal trial design and allow a greater time window for the benefit to be observed.
Shares of Catabasis closed at $4.71 yesterday.
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