UPDATE: H.C. Wainwright Starts Translate Bio (TBIO) at Buy

(updated to add analyst comment)

H.C. Wainwright analyst Andrew Fein initiates coverage on Translate Bio (NASDAQ: TBIO) with a Buy rating and a price target of $21.00.

The analyst comments "Translate Bio is developing treatments for diseases caused by an absence or dysfunction of a protein or gene. By using a proprietary mRNA therapeutic platform (MRT), they can deliver mRNA that encodes functional proteins and therapeutically bypass the defect. The company utilizes a novel liposome encapsulated nanoparticle to specifically target the mRNA to the organ and cell of interest and allows for normal cellular translation to restore or augment protein function. The initial two lead programs being developed are treatments for: (1) cystic fibrosis (CF); and (2) ornithine transcarbamylase deficiency (OTCD) . In CF, it has initiated an inhaled therapy with a Phase 1/2 trial that began (SAD, part A) in 3Q18, with the MAD (part B) anticipated to complete by 2Q19. OTC will be the second indication, and the Phase 1 trial is expected to initiate in 1H19. We view the mRNA platform an exciting new opportunity that if proven successful in either of these first two indications could be rapidly expanded in other disease categories. Although the CF program is first targeting class I mutations that derive from nonsense mutations, if successful this approach could, we believe, ultimately target any CF mutation, even those currently treated by modulator therapies."

For an analyst ratings summary and ratings history on Translate Bio click here. For more ratings news on Translate Bio click here.

Shares of Translate Bio closed at $8.20 yesterday.

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