Stifel Reiterates Buy Rating on Iveric Bio (ISEE) as Zimura 'Checks All Efficacy AND Safety Boxes'

Stifel analyst Annabel Samimy reiterated a Buy rating and $28.00 price target on Iveric Bio (NASDAQ: ISEE) following the release of GATHER-2 (G2) Zimura data that hit high statistical significance on its primary endpoint of mean rate of GA growth (slope) for both square root transformation and observed—14.3% and 17.7%, respectively.

The analyst commented, "The data were even more robust when looking at US patients (42.7% of study population) that had earlier stage of disease (smaller lesion size)—25.5% and 32%, respectively—suggesting that earlier GA treatment generates more optimal results. Notably, Zimura maintained its clean safety profile with NO endophthalmitis/inflammation/ischemic optic neuropathy and a low CNV rate of 6.7% (4.9% exudative) vs. PBO of 4.1% (3.2% exudative). While G2 reductions were lower than G1, ISEE has two successful pivotal studies that will form the basis of its NDA (filing end 1Q23), with further details from the study to be presented at AAO (Sep. 30). We think Zimura maintains a competitive profile."

For an analyst ratings summary and ratings history on Iveric Bio click here. For more ratings news on Iveric Bio click here.

Shares of Iveric Bio closed at $9.44 yesterday.

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