PolyPid's (PYPD) DPLEX100 Demonstrates Positive Phase 3 Results - Citizens

Citizens analyst Jason Butler reiterated a Market Outperform rating and $14.00 price target on PolyPid Ltd. (NASDAQ: PYPD).

The analyst commented, "PolyPid is leveraging its proprietary PLEX platform to develop locally administered therapies to improve surgical outcomes. The company’s lead development candidate DPLEX100 demonstrated positive Phase 3 results earlier this year in patients undergoing abdominal colorectal surgery, with a 38% improvement in the composite primary endpoint vs. standard of care (p<0.005) and a 58% reduction in the rate of surgical site infections (p<0.005). We believe these results support a high probability of approval and a robust commercial opportunity. We anticipate use broadly in abdominal surgeries and see potential in other surgical settings. Our valuation is driven primarily by the opportunity for D-PLEX100 in abdominal surgeries (U.S. + EU), where we project peak sales approaching $400MM by 2032 (70-80% probability of approval)."

For an analyst ratings summary and ratings history on PolyPid Ltd. click here. For more ratings news on PolyPid Ltd. click here.

Shares of PolyPid Ltd. closed at $3.95 yesterday.

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