Benchmark Reiterates Speculative Buy Rating on Unicycive Therapeutics (UNCY)

Benchmark analyst Brice Jackson reiterated a Speculative Buy rating and $3.00 price target on Unicycive Therapeutics (NASDAQ: UNCY).

The analyst commented: "Unicycive announced that it submitted a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for Oxylanthanum Carbonate (OLC) for the treatment of hyperphosphatemia in patients with chronic kidney disease (CKD) on dialysis. The timing was as expected. OLC is a phosphate binder with a proprietary, nanoparticle formulation that permits a lower daily pill burden (3 a day) that is swallowed, not chewed, potentially leading to better patient compliance and improved outcomes for roughly 500,000 patients in the United States currently
being treated for hyperphosphatemia. Recall that current therapies for hyperphosphatemia ask patients to take up to 12 chewable tablets a day, a high pill burden that may reduce patient compliance. The study results released in June found that only 5 of 86 subjects (6%) discontinued use, suggesting that the reduced pill burden will improve patient compliance. Of the five discontinuations, two were unrelated to the treatment. The low discontinuation rate compares favorably with Fosrenol, which mentions a 14% discontinuation rate in its package insert. Given the improved dosing regimen and potential for higher treatment adherence, OLC can probably attain pricing similar to the leading branded drug in the category, Fosrenol (lanthanum carbonate), which costs approximately $14,000 for an annual course of treatment, a potential market of $7 billion. We are updating our model for the 2Q filings with no change to our forward expectations."

For an analyst ratings summary and ratings history on Unicycive Therapeutics click here. For more ratings news on Unicycive Therapeutics click here.

Shares of Unicycive Therapeutics closed at $0.35 yesterday.

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