H.C. Wainwright analyst Boobalan Pachaiyappan reiterated a Buy rating on Entrada Therapeutics Inc (TRDA – Research Report) today and set a price target of $25.00.
Boobalan Pachaiyappan’s Buy rating for Entrada Therapeutics Inc is based on various contributing factors. The ongoing Phase 1 trial of ENTR-601-44, the company’s leading therapeutic candidate, plays a significant role in this rating. This therapy aims to manage Duchenne muscular dystrophy disease progression by skipping exon 44, an approach that has received clinical validation from several competitors. The trial aims to evaluate the safety and tolerability of a single ENTR-601-44 dose in male participants. The company plans to release the top-line findings from this study in the second half of 2024, and an update on the FDA’s hold on its Investigational New Drug application for ENTR-601-44 is expected later this quarter.
There’s also a high level of optimism surrounding ENTR-601-44 because of its broad tissue distribution profile, which includes difficult-to-target cardiac sites. This profile remained consistent across multiple animal models, and when tested in non-human primates, the treatment resulted in significant and enduring exon 44 skipping, indicating therapeutic activity. Furthermore, the Phase 1 study data is expected to demonstrate that ENTR-601-44 is safe, tolerable, and capable of delivering oligonucleotides to skeletal areas in a dose-dependent way. This, alongside some level of exon 44 skipping, could partially validate Entrada’s proprietary endosomal escape vehicle platform and justify ENTR-601-44’s clinical assessment in DMD patients. The positive Phase 1 data could also enhance the perception of Entrada’s entire exon-skipping portfolio, contributing to the Buy rating.
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Entrada Therapeutics Inc (TRDA) Company Description:
Entrada Therapeutics Inc mission is to transform the treatment of devastating diseases and improve patients quality of life by developing intracellular biologics. Leveraging its proprietary Endosomal Escape Vehicle platform, Entrada is creating a diverse and expanding pipeline of oligonucleotide, antibody, enzyme, protein and peptide programs to efficiently target and engage underlying drivers of diseases.
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