Promising Outlook for BioRestorative Therapies: Buy Rating Supported by Positive BRTX-100 Data and FDA Fast Track Designation

Maxim Group analyst Michael Okunewitch maintained a Buy rating on BioRestorative Therapies (BRTX – Research Report) on June 13 and set a price target of $8.00.

Michael Okunewitch has given his Buy rating due to a combination of factors that highlight the promising outlook for BioRestorative Therapies. The company has recently reported additional blinded preliminary data for its BRTX-100 treatment in a larger patient cohort, which continues to show positive trends. Notably, 74% of subjects demonstrated significant functional improvement, and 72% experienced substantial pain reduction, aligning with expectations for a favorable outcome in the unblinded dataset.
Furthermore, the safety profile remains strong, with no serious adverse events reported. The ongoing Phase 2 trial for chronic lumbar disc disease (CLDD) has also received Fast Track designation from the FDA, indicating its potential for expedited development. The unique hypoxic culturing method used for BRTX-100 enhances its differentiation in cell therapy, potentially improving cell survivability and efficacy in treating spinal disc degeneration. These factors collectively support the Buy rating for BioRestorative Therapies’ stock.

Okunewitch covers the Healthcare sector, focusing on stocks such as Kiora Pharmaceuticals, Ocugen, and BioRestorative Therapies. According to TipRanks, Okunewitch has an average return of -17.6% and a 32.69% success rate on recommended stocks.