Jason McCarthy, an analyst from Maxim Group, maintained the Buy rating on Neuphoria Therapeutics. The associated price target remains the same with $35.00.
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Jason McCarthy has given his Buy rating due to a combination of factors surrounding Neuphoria Therapeutics. The company recently reported its financial results, showing a net loss but maintaining a strong cash position that is expected to support operations through the second quarter of 2027. This financial stability is crucial as the company approaches a significant milestone with the anticipated Phase 3 data readout for their BNC210 treatment in social anxiety disorder (SAD) in early fourth quarter 2025. The anticipation of this readout has already driven the stock price up by approximately 80% since mid-August.
In addition to the upcoming SAD trial results, Neuphoria is making progress in other areas of its pipeline, including a study for post-traumatic stress disorder (PTSD) and a partnership with Merck for an Alzheimer’s disease treatment. The company’s strategic approach to the Phase 3 trial, which includes learnings from previous studies and a focus on the SUDS score as a primary endpoint, positions it well for success. The potential for positive trial outcomes and subsequent labeling opportunities with the FDA further supports McCarthy’s optimistic outlook. These developments collectively contribute to his Buy recommendation for Neuphoria Therapeutics’ stock.