In a report released today, Joseph Pantginis from H.C. Wainwright maintained a Buy rating on Clene, with a price target of $31.00.
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Joseph Pantginis has given his Buy rating due to a combination of factors related to Clene’s progress with their CNM-Au8 program, particularly in the treatment of ALS. The company has been actively engaging with regulators, including the FDA, to discuss the statistical analysis plan for neurofilament light (NfL) biomarker data. This data is crucial as it could support the effectiveness of CNM-Au8 and potentially lead to accelerated approval by the end of 2025.
Moreover, Clene’s ongoing discussions with the FDA and the planned analyses of NfL biomarker data are expected to address regulatory concerns and facilitate guidance for a potential New Drug Application (NDA) submission. These efforts, combined with the company’s financial position and strategic milestones, underpin Pantginis’s optimistic outlook and the Buy rating for Clene’s stock.