Soumit Roy, an analyst from JonesTrading, maintained the Buy rating on CervoMed. The associated price target remains the same with $20.00.
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Soumit Roy has given his Buy rating due to a combination of factors including CervoMed’s successful alignment with the FDA on their Phase 3 trial design for neflamapimod in treating dementia with Lewy bodies. This achievement is significant as it allows the company to proceed directly to a Phase 3 trial, bypassing additional preliminary phases, and aligns with previous positive outcomes observed in earlier studies.
The trial is set to enroll approximately 300 patients and is expected to yield results by mid to late 2028. The management’s experience with clinical sites is anticipated to facilitate efficient patient enrollment, further supporting the trial’s progress. Additionally, the ongoing optimization of neflamapimod’s formulation could enhance its efficacy, providing further confidence in the trial’s potential success.