UPDATE: Cowen Starts Angion Biomedica (ANGN) at Outperform
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Cowen analyst Marc Frahm initiates coverage on Angion Biomedica (NASDAQ: ANGN) with an Outperform rating.
The analyst commented, "Angion develops small molecules to treat organ injury and fibrotic disease. ANG-3777 is a hepatocyte growth factor (HGF) mimetic with a fully enrolled Ph3 for delayed graft function (DGF). Data is expected by YE:21. A Ph2 in cardiac surgery-associated AKI will report data in H2:21. With partner Vifor's help, we believe these conditions can support ~$1.5B in sales and drive shares to outperform."
Shares of Angion Biomedica closed at $19.92 yesterday.
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