Cantor finds Avidity data highly supportive of del-zota best-in-class potential

Cantor Fitzgerald notes that this morning, Avidity Biosciences (RNA) shared a first look at functional data from del-zota, its TfR-targeted exon skipper, in DMD exon 44. Overall, the firm finds the data highly supportive of del-zota’s first- and best-in-class potential in DMD44. While the sample size is small, Cantor is highly encouraged by delzota’s ability to consistently improve function across a range of endpoints. Natural history controls show steady loss of function, so this is the first evidence that disease reversal is possible in DMD, the firm adds. Pairing del-zota’s functional gains with unprecedented improvements in near-full length dystrophin production and near-normalization of CK, leaves Cantor with little doubt that del-zota will become the new standard of care in DMD44. The firm has an Overweight rating on Avidity with a price target of $96 on the shares.