Matthew Keller, an analyst from H.C. Wainwright, reiterated the Buy rating on GRI Bio (GRI – Research Report). The associated price target remains the same with $10.00.
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Matthew Keller has given his Buy rating due to a combination of factors surrounding GRI Bio’s recent developments and clinical trial progress. The completion of enrollment in the Phase 2a trial for GRI-0621, targeting idiopathic pulmonary fibrosis (IPF), marks a significant milestone. This trial, which is randomized, double-blind, and placebo-controlled, aims to evaluate the safety and tolerability of the drug, alongside secondary endpoints such as changes in serum biomarkers and pharmacokinetics.
Furthermore, the interim biomarker data expected soon could provide critical insights into patient subgroups that respond well to GRI-0621, potentially enhancing the success rate of future trials and strengthening the regulatory package. The positive safety readouts from earlier interim analyses, which showed that GRI-0621 is well-tolerated without significant side effects like hyperlipidemia, add to the drug’s favorable profile. These factors, combined with the evolving understanding of the NKT space and GRI’s strategic trial design, contribute to Keller’s optimistic outlook and Buy rating for GRI Bio.