H.C. Wainwright analyst Joseph Pantginis maintained a Buy rating on VYNE Therapeutics (VYNE – Research Report) today and set a price target of $5.75.
Joseph Pantginis has given his Buy rating due to a combination of factors including VYNE Therapeutics’ recent achievements and the potential of their drug candidates. The FDA’s IND clearance for VYN202 is a pivotal milestone that allows the company to initiate a Phase 1a clinical trial. This early stage study will investigate the safety, tolerability, and pharmacokinetic/pharmacodynamic properties of VYN202 in healthy volunteers, with results expected in the second half of 2024. Following this, VYNE aims to progress to a Phase 1b trial focusing on patients with moderate-to-severe plaque psoriasis and rheumatoid arthritis, with top line results anticipated in the second half of 2025. Pantginis sees these developments as significant steps forward in the company’s pipeline, highlighting VYN202’s potential to create clinical and shareholder value.
Furthermore, the compelling biomarker data from the Phase 1b trial of VYN201 in nonsegmental vitiligo patients reinforce its therapeutic promise. The observed modulation of key biomarkers indicates that the drug works at a molecular level, aligning with its mechanism of action. Notably, the treatment led to the downregulation of MMP-9, an inflammatory biomarker, and upregulation of various melanocyte-related transcription factors, suggesting potential effectiveness in repigmentation of the skin. These results, along with the drug’s potential to become a best-in-class therapy, contribute to Pantginis’s positive outlook on VYNE Therapeutics, bolstering his Buy rating for the stock.
Pantginis covers the Healthcare sector, focusing on stocks such as Actinium Pharmaceuticals, Viking Therapeutics, and Palatin Technologies. According to TipRanks, Pantginis has an average return of 13.8% and a 41.77% success rate on recommended stocks.
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VYNE Therapeutics (VYNE) Company Description:
Menlo Therapeutics Inc. operates as biopharmaceutical company which is focused on the development and commercialization of serlopitant for the treatment of pruritus, or itch, associated with dermatologic conditions such as atopic dermatitis, psoriasis and prurigo nodularis. The company was founded in October, 2011 and is headquartered in Redwood City, CA.
