Sean Laaman, an analyst from Morgan Stanley, maintained the Buy rating on Contineum Therapeutics, Inc. Class A. The associated price target remains the same with $21.00.
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Sean Laaman has given his Buy rating due to a combination of factors that highlight the promising potential of Contineum Therapeutics’ PIPE-791. The Phase 1b results indicate significant receptor occupancy in the brain, which is a positive sign for its development in treating progressive multiple sclerosis (PrMS) and idiopathic pulmonary fibrosis (IPF). Although lung receptor occupancy was not viable, this is attributed to known limitations such as low receptor levels and imaging challenges, rather than a deficiency in the drug’s efficacy.
Furthermore, PIPE-791 exhibits a best-in-class pharmacokinetic profile, with even low doses achieving substantial target coverage for extended periods. This suggests that the drug can maintain effective concentrations with once-daily dosing, which is advantageous for patient compliance and therapeutic effectiveness. The slower binding kinetics compared to competitors also support its potential for durable target coverage, reinforcing confidence in its success in upcoming Phase 2 studies.
CTNM’s price has also changed dramatically for the past six months – from $7.490 to $12.400, which is a 65.55% increase.