Oren Livnat, an analyst from H.C. Wainwright, reiterated the Buy rating on Acasti Pharma (ACST – Research Report). The associated price target is $12.00.
Oren Livnat has given his Buy rating to Acasti Pharma’s stock due to a combination of promising factors. This includes the upcoming pivotal safety study for GTX-104, a potential new standard of treatment for aneurysmal subarachnoid hemorrhage (aSAH). According to the report, GTX-104 showed numerically lower hypotension events compared to oral nimodipine in Phase 1 crossover bioavailability PK study. This bodes well for the Phase 3 safety trial, which is expected to begin in the fourth quarter of 2023. In addition, Acasti anticipates sufficient cash flow through the NDA filing following a recent $7.5 million PIPE.
Furthermore, Dr. W. Taylor Kimberly, Chief of the Division of Neurocritical Care in the Department of Neurology at Massachusetts General Hospital, supports the adoption of GTX-104 as it can potentially improve intensive care unit patient care. He emphasized the unmet need in post-surgical care for aSAH, which can lead to high mortality/morbidity. Dr. Kimberly also highlighted the advantages of GTX-104, such as reducing unpredictable drug exposures and easing administration burden for clinicians and nurses. He expects centers of excellence—that treat the vast majority of aSAH patients—to adopt GTX-104 on formulary, supporting Livnat’s view of GTX-104 peak sales of over $130 million.
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Acasti Pharma (ACST) Company Description:
Acasti Pharma, Inc. engages in the development and commercialization of pharmaceutical applications of its licensed rights for cardiovascular diseases. It focuses on the research of prescription drugs using omega-3, fatty acids derived from krill oil. The company was founded by Henri Harland on February 1, 2002 and is headquartered in Laval, Canada.
Read More on ACST:
- Acasti Pharma files to sell 6.59M common shares for holders
- Acasti Pharma to host KOL event on GTX-104
- Acasti Pharma to Host KOL Event on GTX-104: A Potential New Treatment Standard for Rare and Life-Threatening aneurysmal Subarachnoid Hemorrhage (aSAH)
- Biotech Alert: Searches spiking for these stocks today
- Acasti Pharma announces $7.5M private placement equity financing
