Cory Jubinville, PhD, an analyst from LifeSci Capital, reiterated the Buy rating on Tenaya Therapeutics. The associated price target remains the same with $3.00.
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Cory Jubinville, PhD has given his Buy rating due to a combination of factors including the promising initial data from Tenaya Therapeutics’ TN-401 gene therapy. The Phase 1b/2 RIDGE-1 trial showed encouraging results with robust cardiac transduction and modest increases in PKP2 protein levels in patients, which are associated with clinical benefits. The therapy was also well tolerated, with no significant adverse effects reported, enhancing its potential as a viable treatment option.
Cory Jubinville, PhD also noted the improvements in electrophysiology, with significant reductions in arrhythmia burden observed in patients who showed PKP2 increases. These reductions were comparable to those seen with competing therapies, despite the challenges in making direct comparisons due to different normalization methods. Overall, the initial data, coupled with the therapy’s safety profile, supports the optimistic outlook for TN-401, justifying the Buy rating.