H.C. Wainwright Reiterates Buy Rating on VYNE Therapeutics (VYNE)

H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating and $4.50 price target on VYNE Therapeutics (NASDAQ: VYNE).

The analyst commented: 'This morning, VYNE provided an update on its VYN202 program, following the recent FDA clinical hold on the Phase 1b trial in moderate-to-severe plaque psoriasis. To recap, the hold was due to testicular toxicity findings in dogs during non-clinical studies. As no observed adverse effects (NOAEL) were seen at clinical doses in females, the FDA allowed the Phase 1b study to resume in female patients at the 0.25 mg and 0.5 mg doses; the higher 1 mg dose was excluded due to its lower safety margin. To reopen enrollment for male subjects, VYNE must complete a 12-week non-clinical toxicology study in dogs. Following the hold, VYNE decided to unblind the data from the enrolled subjects (n=6 treated, n=1 placebo). On safety, no patients experienced any serious side effects, and no patients had to discontinue or interrupt treatment because of any treatment-emergent side effects. Also, no cases of thrombocytopenia, neutropenia, or lymphocytopenia were reported. All subjects receiving VYN202 showed improvements in key signs and symptoms of disease, including scalp psoriasis. In particular: 1) PASI Scores: Reductions in Psoriasis Area and Severity Index (PASI) scores ranged from ~27% after one week of treatment to ~90% by week 8; and 2) Serum Cytokines: Subjects treated with VYN202 for more than one week showed meaningful reductions in serum cytokines (IL-17A, IL-17F, IL-19, IL-22), with decreases from 17% to 83%. No changes were seen in the placebo subject. We are encouraged by the meaningful improvements seen in patients treated with VYN202, which are supported by both quantitative data and images. Importantly, VYNE has decided to close enrollment in the Phase 1b study, which should help extend its cash runway into 4Q26. Reiterate Buy rating and $4.50 PT."

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

Shares of VYNE Therapeutics closed at $1.51 yesterday.

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