LifeSci Capital analyst Rami Katkhuda has maintained their bullish stance on ELDN stock, giving a Buy rating on June 26.
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Rami Katkhuda’s rating is based on the promising clinical potential of Eledon Pharmaceuticals’ lead candidate, tegoprubart, particularly in the context of kidney transplantation. The recent R&D Day highlighted the significant unmet needs and market opportunities in this area, along with the evolving clinical endpoints that tegoprubart aims to address. The upcoming presentation of updated results from the Phase Ib study at the World Transplant Congress is anticipated to further validate tegoprubart’s efficacy, potentially reducing risks associated with the ongoing Phase II BESTOW study.
Moreover, the mechanism of action of tegoprubart, which targets the CD40L pathway, offers several advantages over traditional CD40 blockade. By inhibiting the ligand rather than the receptor, tegoprubart may achieve greater potency and specificity, reducing off-target effects and enhancing its pharmacokinetic and pharmacodynamic profile. This strategic targeting could lead to improved outcomes in transplant patients, supporting the Buy rating given by Rami Katkhuda.