Medicus Pharma Ltd, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Jason McCarthy from Maxim Group reiterated a Buy rating on the stock and has a $20.00 price target.
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Jason McCarthy’s rating is based on Medicus Pharma Ltd’s strategic collaboration with the Gorlin Syndrome Alliance to advance their D-MNA patch for basal cell carcinoma (BCC). This partnership aims to facilitate an Expanded Access IND, allowing patients with Gorlin Syndrome to receive treatment while collecting real-world data, which could enhance the visibility and validation of their SkinJect technology.
Furthermore, the ongoing Phase 2 study has shown promising results with complete responses in BCC cases, and the collaboration could potentially attract support from Congressional caucuses focused on skin cancer and rare diseases. The potential for SkinJect to address a significant unmet need in treating BCC, coupled with positive feedback from the FDA, positions Medicus Pharma Ltd favorably in the market, justifying the Buy rating.