H.C. Wainwright Reiterates Buy Rating on Cartesian Therapeutics (RNAC)

H.C. Wainwright analyst Mitchell S. Kapoor reiterated a Buy rating and $45.00 price target on Cartesian Therapeutics (NASDAQ: RNAC).

The analyst commented: "Yesterday, Cartesian Therapeutics indicated that it has received written agreement from the FDA under the Special Protocol Assessment (SPA) process on the overall design of the company’s planned Phase 3 AURORA trial for Descartes-08, its lead mRNA cell therapy candidate, in myasthenia gravis (MG). This signals that the FDA has determined that the proposed trial design is acceptable to support a future Biologics License Application (BLA) for Descartes-08 in MG, subject to the ultimate study outcome. The randomized, double-blind, placebo-controlled Phase 3 AURORA trial is designed to assess Descartes-08 vs. placebo (1:1 randomization) administered as six once-weekly infusions without preconditioning chemotherapy in approximately 100 participants with acetylcholine receptor autoantibody-positive (AChR Ab+) MG. The primary endpoint aims to assess the proportion of Descartes-08 participants with an improvement of ≥3 points in MG-ADL score at the four-month time point vs. placebo. This trial is slated to start in 2H25. We reiterate our Buy rating and 12-month price target of $45 per share."

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

Shares of Cartesian Therapeutics closed at $19.42 yesterday.

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