H.C. Wainwright analyst Patrick Trucchio reiterated a Buy rating on Faron Pharmaceuticals Oy (FARN – Research Report) today and set a price target of £10.00.
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Patrick Trucchio has given his Buy rating due to a combination of factors that highlight the potential of Faron Pharmaceuticals Oy’s lead candidate, bexmarilimab, in treating myelodysplastic syndrome (MDS). The therapy has shown promising results, particularly in patients with relapsed/refractory MDS, where it has achieved a median overall survival of 13.4 months, significantly surpassing historical benchmarks. This performance, coupled with its strong activity in patients with TP53 mutations, positions bexmarilimab as a potentially transformative treatment option.
Furthermore, the safety profile of bexmarilimab is a key differentiator, as it does not cause myelosuppression, a common issue with other therapies. The drug’s clean safety profile and the strategic alignment with the FDA under Project FrontRunner provide a clear regulatory pathway, enhancing its prospects for accelerated approval. The planned Phase 3 trial and the potential for broad adoption in both frontline and relapsed/refractory MDS settings further support the Buy rating, with a price target of £10 for Faron Pharmaceuticals Oy’s stock.
According to TipRanks, Trucchio is an analyst with an average return of -0.9% and a 33.73% success rate. Trucchio covers the Healthcare sector, focusing on stocks such as uniQure, Sangamo Biosciences, and Alnylam Pharma.