Jason McCarthy, an analyst from Maxim Group, maintained the Buy rating on Medicus Pharma Ltd. The associated price target remains the same with $20.00.
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Jason McCarthy has given his Buy rating due to a combination of factors that highlight Medicus Pharma Ltd’s promising developments and strategic initiatives. The company’s recent submission for the Commissioner’s National Priority Review voucher for SkinJect in treating non-invasive basal cell carcinoma (BCC) is a significant step forward. This treatment has shown a 60% complete response rate in ongoing Phase 2 studies, which is notably higher than the typical 20%-30% rate considered significant, presenting a substantial opportunity to reduce reliance on Mohs surgery.
Additionally, Medicus has received positive feedback from the FDA, supporting a 505(b)(2) regulatory pathway for SkinJect, which could expedite its market entry. The company’s expansion efforts, including collaborations and new studies, further strengthen its position. Moreover, the acquisition of Teverelix, a mid-late stage asset, adds to its potential growth. These strategic moves and the innovative nature of SkinJect, which addresses a large unmet medical need, underpin McCarthy’s optimistic outlook on Medicus Pharma Ltd.