H.C. Wainwright Starts Decibel Therapeutics Inc (DBTX) at Buy
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H.C. Wainwright analyst Emanuela Branchetti initiates coverage on Decibel Therapeutics Inc (NASDAQ: DBTX) with a Buy rating and a price target of $23.00.
The analyst commented, "Decibel is a clinical stage company focused on the development of therapies for hearing and balance diseases, a significant unmet medical need with no FDA approved pharmacological treatment. The development of therapies for the inner ear has been challenging mainly because of the difficulties associated with delivery, targeting, and distribution of drugs to the closed inner ear space without inducing sensory hair cells damage. For hearing loss, current clinical management relies on cochlear implants (CI) and hearing aids (HA) which constitute suboptimal solutions for a lifelong condition. Similarly, for balance disorders, subpar treatments focus on chronic symptom management that do not address the cause of the disease. In this context, Decibel’s gene and regenerative therapy platform is promising in our belief, as it is based on indication-specific AAV vectors built using a cellular-specific, genomic and transcriptomic characterization of the inner ear (vestibule and cochlea). As a result, Decibel's assets are based on highly specific targets, regulatory elements and cofactors that drive gene expression with improved safety and efficacy. The current preclinical pipeline aims to target: (1) congenital hearing loss starting with otoferlin (OTOF) deficiency, followed by larger indications such as GJB2 deficiencies; and (2) chronic balance disorders with initial focus on bilateral vestibulopathy (BV). In addition, already in the clinic and different from the overall pipeline (not a gene therapy asset), is DB-020, a novel proprietary formulation of sodium thiosulfate pentahydrate (STS) currently being tested in a Phase 1b as an oncology supportive care product for the prevention of cisplatin induced hearing loss. We believe DB-020 represents a quick value creating opportunity with a de-risked profile and high potential for partnership."
Shares of Decibel Therapeutics Inc closed at $7.28 yesterday.
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