Mizuho initiated coverage of Palvella Therapeutics (PVLA) with an Outperform rating and $205 price target The company has a topical formulation platform for orphan skin diseases and is advancing two candidates across four indications, the analyst tells investors in a research note. The firm believes the recent positive Phase 2 data for Qtorin in cutaneous venous malformations “highly de-risk” the upcoming Phase 3 data in microcystic lymphatic malformations. Mizuho favors the stock into the readout.
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