Kalaris Therapeutics initiated with an Outperform at William Blair

William Blair initiated coverage of Kalaris Therapeutics (KLRS) with an Outperform rating and $21 fair value estimate. Kalaris is a clinical-stage biotechnology company developing therapies for retinal vascular diseases, which affect millions of people and can lead to significant vision loss or blindness, the analyst tells investors in a research note. The firm says that while existing treatments are effective, they require regular intravitreal injections. In contrast, Kalaris’ TH103 uses domain 3 from VEGFR1, offering greater potency and better ocular retention, contends Blair. It belives TH103 has shown greater anti-VEGF potency and significantly longer durability than Eylea.