georgeclerk
Rodman & Renshaw launched its coverage of Canadian biopharma Milestone Pharmaceuticals (NASDAQ:MIST) with a Buy rating and a $9 price target, citing a potential FDA nod for its lead candidate Cardamyst next year.
The nasal spray, also known as etripamil, is currently under FDA review for a heart condition known as paroxysmal supraventricular tachycardia (PSVT) with a decision expected in 2025.
Based on the Phase 3 data generated from MIST’s RAPID trial in PSVT, Rodman & Renshaw analyst Brandon Folkes cited an early 2025 approval and a successful commercial rollout for the product.
The analyst noted that investors are currently focused on the company’s potential against PSVT.
However, with a Phase 3 trial for etripamil expected to begin enrollments in 2025 for patients with atrial fibrillation with rapid ventricular rate (AFib-RVR), Folkes argued that the “AFib opportunity is significant for MIST, which could roughly double the addressable market for Cardamyst.”
More on Milestone Pharmaceuticals
Source link
