Benchmark Reiterates Speculative Buy Rating on Unicycive Therapeutics (UNCY)

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

The analyst commented, "Unicycive is currently awaiting FDA approval for its first product candidate, Oxylanthanum Carbonate, which is anticipated later this year. We are updating our model for the 1Q filings with no change to our forward expectations. In November, the company announced that the FDA accepted its NDA of Oxylanthanum Carbonate (OLC) for the treatment of hyperphosphatemia in patients with chronic kidney disease (CKD) on dialysis, and set a PDUFA date of June 28, 2025. 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. Because of that high pill burden from existing treatment options, the company is working to have OLC included in updated quality guidelines. 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. Unicycive ended the quarter with $19.8 million in cash, which should take the company to its next milestone. No change to our forward estimates, price target, or Spec. Buy rating."

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 $0.60 yesterday.

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