H.C. Wainwright believes Celldex’s (CLDX) Phase 2 data for barzolvolimab in patients with eosinophilic esophagitis supports the positive thesis on Eupraxia Pharmaceuticals (EPRX). Barzolvolimab did not show improvements in eosinophilic esophagitis symptoms or endoscopic measures of disease activity compared to placebo, the analyst tells investors in a research note. The firm says a potential competitor to Eupraxia in eosinophilic esophagitis has been removed. The barzolvolimab study also validates the “simpler but more effective approach” Eupraxia is taking with EP-104GI, contends H.C. Wainwright. The firm has a Buy rating on the shares with a $12 price target.
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