Jason McCarthy, an analyst from Maxim Group, maintained the Buy rating on Brainstorm Cell Therapeutics (BCLI – Research Report). The associated price target remains the same with $6.00.
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Jason McCarthy has given his Buy rating due to a combination of factors related to BrainStorm Cell Therapeutics’ strategic advancements and promising therapeutic developments. The company has received FDA clearance to initiate a Phase 3b trial for its NurOwn cell therapy in treating amyotrophic lateral sclerosis (ALS), which positions it well for future growth. This trial, known as ENDURANCE, is crucial as it evaluates the efficacy of NurOwn compared to a placebo, with the primary endpoint being the change in ALSFRS-R score over 24 weeks.
BrainStorm’s approach with NurOwn, which involves autologous cell therapy without genetic modifications, underscores its safety profile and potential therapeutic impact. The company has demonstrated positive effects in reducing neuroinflammation and neurodegeneration, which are vital in addressing the complex nature of ALS. With the anticipated start of patient enrollment and the potential for securing additional funding, McCarthy believes BrainStorm is well-positioned to advance its clinical objectives and deliver significant value to patients and investors alike.
McCarthy covers the Healthcare sector, focusing on stocks such as Actinium Pharmaceuticals, Gain Therapeutics, and SELLAS Life Sciences Group. According to TipRanks, McCarthy has an average return of -21.7% and a 26.41% success rate on recommended stocks.