UPDATE: Brean Capital Assumes Neuralstem (CUR) at Buy
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(Updated - October 4, 2016 10:14 AM EDT)
Brean Capital assumed coverage on Neuralstem (NASDAQ: CUR) with a Buy rating and a price target of $4.00.
Analyst Jason Wittes said, "The company is currently enrolling a Phase II (n=220) trial for NSI-189 which is a novel neurogenic small molecule targeting Major Depressive Disorder (MDD) and may have the potential to be a neuro-regenerative drug in reversing diabetic neuropathies given the recent preclinical data. We expect a read out of this trial in 2H17—already 50% enrolled. Recently the company secured an additional $20 million through a Tianjin Pharmaceutical Holding Group for completion of the Phase II trial. Assuming the Phase II is successful, we expect NSI-189 will have no problem finding a partner to fund a Phase III study, especially if results continue to show duration, improved cognition and enhanced potentiation. The company is also developing a stem cell platform, which it looks to fund externally."
Shares of Neuralstem closed at $0.31 yesterday.
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