AbCellera target is profile more attractive than Vistagen, says JonesResearch

JonesResearch notes that Vistagen (VTGN) received an FDA “Study May Proceed” letter enabling further Phase 2 development of intranasal refisolone for menopausal vasomotor symptoms, also known as hot flashes, in the U.S. While refisolone’s prior Phase 2a topline efficacy on hot-flash frequency “appears encouraging,” the firm would interpret these results “with some caution,” the analyst tells investors. If AbCellera’s (ABCL) ABCL635 shows clean safety without any hepatic signals and target engagement comparable to Veohah/Lynkuet, the firm would believe the product “will be deemed very competitive,” adds the analyst, who reiterates Buy rating and $11 price target on AbCellera shares ahead of Phase 1 update due on May 11.