Roth Positive on Cytokinetics (CYTK) Following Phase III VITALITY-ALS Initiation
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Roth Capital affirms Cytokinetics (Nasdaq: CYTK) with a Buy rating and $18 price target following news that the company initiated the Phase III VITALITY-ALS study.
Analyst Joseph Pantginis offered the following commentary on the event:
We believe the initiation of this Phase III study highlights CYTK's successful management of the outcome of BENEFIT-ALS which was initially perceived as another failure in ALS but with additional work and analyses showed that tirasemtiv was the first ALS treatment to show a positive clinical on respiratory function. With regards to the study design we believe that the company has learned valuable lessons from BENEFIT-ALS, implementing necessary changes into the protocol.
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