Biora Therapeutics Receives Buy Rating Amid Positive Clinical Progress and Promising Drug Delivery Innovations

Joseph Pantginis, an analyst from H.C. Wainwright, reiterated the Buy rating on Biora Therapeutics (BIOR – Research Report). The associated price target was lowered to $15.00.

Joseph Pantginis has given his Buy rating due to a combination of factors that indicate positive developments and potential for Biora Therapeutics. The company has made substantial progress with its leading drug delivery devices, BioJet and NaviCap, with the latter recently advancing into clinical studies. The initial Single Ascending Dose (SAD) data from the Phase 1 trial of BT-600, Biora’s therapy utilizing the NaviCap device for ulcerative colitis, showed positive safety and tolerability outcomes. Additionally, evidence of drug absorption in the desired colon region rather than systemically suggests a more targeted delivery approach, which could lead to better efficacy and reduced side effects. This specificity of delivery is underscored by the observed pharmacokinetic profile, which supports the device’s mechanism of action.
The anticipation of further data readouts in the upcoming year, including final SAD/MAD data and potential Phase 1b studies, paints a promising picture for the company’s continued advancement. Pantginis’s confidence is further bolstered by the meticulous preclinical and healthy volunteer assessments that de-risk future clinical readouts. He believes that positive results from these upcoming trials could significantly accelerate Biora Therapeutics’ clinical evaluations and business development efforts, potentially leading to considerable stock value appreciation and overall value generation for the company in 2024.

According to TipRanks, Pantginis is a 5-star analyst with an average return of 14.4% and a 44.42% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Actinium Pharmaceuticals, Viking Therapeutics, and Cytokinetics.

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Biora Therapeutics (BIOR) Company Description:

Progenity Inc is a biotechnology company. It is engaged in developing and commercializing molecular testing products. The company is translating innovation into precision medicine through diagnostic and therapeutic development platforms based on genomics, proteomics, and microbiomics. The firm generates its revenue from molecular laboratory tests, principally from the sale of Innatal, Preparent, and pathology molecular testing.