Ritu Baral, an analyst from TD Cowen, has initiated a new Buy rating on Benitec Biopharma (BNTC).
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Ritu Baral has given her Buy rating due to a combination of factors related to Benitec Biopharma’s innovative approach and promising early clinical results. The company’s ‘Silence and Replace’ platform, which integrates RNA interference with wild-type gene replacement, offers a unique method for potentially permanent gene silencing and replacement. This technology is particularly promising for diseases that cannot be effectively treated with either gene silencing or gene therapy alone.
The lead asset, BB-301, is being developed for Oculopharyngeal Muscular Dystrophy (OPMD), a rare neuromuscular disease with no current treatments. Early clinical data from a Phase 1/2 study showed significant improvements in swallowing function in patients, with both objective and subjective measures indicating efficacy. The treatment was also well-tolerated, with no serious adverse events reported. These positive results support the potential of BB-301 and the broader platform, contributing to the Buy rating.