Leerink upgraded Design Therapeutics (DSGN) to Outperform from Market Perform with a price target of $14, up from $7. After pharmacokinetics and safety issues arose with the first-generation asset for Friedreich’s Ataxia in 2023, the company needed to pivot to a new formulation, DT-216P2, the firm notes. After making these changes and demonstrating improved PK in non-human primates and healthy volunteers, Leerink finally has line of sight to data in the second half of 2026. The firm is also intrigued by the recently unveiled candidate, DT-818, for myotonic dystrophy type 1, which could capitalize on the interest in the space with a differentiated and potentially best-in-class approach.
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