Michael Okunewitch, an analyst from Maxim Group, maintained the Buy rating on Kiora Pharmaceuticals. The associated price target remains the same with $12.00.
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Michael Okunewitch’s rating is based on several promising developments at Kiora Pharmaceuticals. The company has recently initiated two key Phase 2 studies, ABACUS-2 and KLARITY, which are crucial for advancing its pipeline. These studies are expected to progress rapidly, with the ABACUS-2 study potentially benefiting from patients rolling over from a completed endpoint validation study.
Kiora’s financial position is also strong, with $20.7 million in cash, providing a runway into late 2027. Additionally, the company has secured significant partnerships, such as with Théa and Senju, which offer non-dilutive funding opportunities and potential milestone payments. These factors, combined with the innovative potential of KIO-301 in treating retinitis pigmentosa and the strategic partnerships in place, contribute to the Buy rating for Kiora Pharmaceuticals.