Evercore ISI Resumes Aura Biosciences (AURA) at Outperform, PT $13

Evercore ISI analyst Jonathan Miller resumes coverage on Aura Biosciences (NASDAQ: AURA) with a Outperform rating and a price target of $13.00.

The analyst comments "AURA uses a photosensitive payload to kill tumor cells in a handful of underserved, early-stage indications… and early data has been quite supportive. But their main target populations are earlier than the market is used to considering: - Neoadjuvant NMIBC: very early therapy for pts who may not have had a single round of TURBT yet - Very early uveal melanoma: small tumors or “indeterminate lesions” that would typically not get treatment at all With a safe and easy-to-give regimen AURA could potentially open up these indications and avoid competition – but it’s not been fully clear what sort of credit market ought to be giving in these spaces And these programs are getting quite advanced: AURA are already well underway with a registrational program in uveal melanoma, called CoMpass. But that doesn’t mean no one else has designs on these populations – NMIBC is getting quite crowded in later/more high-risk setting already, and even uveal melanoma has a strong contender in slightly larger tumors… After a transition of coverage we thought it would be best to do a full re-initiation on this name. We’ve gone through: - AURA’s early data - Their upcoming catalysts, in uveal melanoma, NMIBC and beyond - Full competitive landscape in these indications - With a completely revamped model."

For an analyst ratings summary and ratings history on Aura Biosciences click here. For more ratings news on Aura Biosciences click here.

Shares of Aura Biosciences closed at $5.50 yesterday.

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