Chardan initiated coverage of Palvella Therapeutics (PVLA) with a Buy rating and $50 price target citing the potential of its QTORIN topical rapamycin gel as an “attractive” treatment in mTOR-driven genetic skin diseases plus the potential for platform upside on analogous topical drug products. Palvella is currently advancing QTORIN through late-stage trials in two vascular indications, microcystic lymphatic malformations and cutaneous venous malformations, the analyst noted.
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