Positive Momentum For VYNE Therapeutics' Psoriasis, Rheumatoid Arthritis Candidate - Analyst Expresses Encouragement
Portfolio Pulse from Vandana Singh
VYNE Therapeutics released new preclinical data showing positive effects of its VYN202 in preclinical models of psoriasis and rheumatoid arthritis. The company plans to submit its IND for VYN202 by the end of 2023 and start Phase 1a trials in Q1 2024. If successful, Phase 1b trials will commence in H2 2024. VYNE also announced private placement financing of $88 million. HC Wainwright maintains a Buy rating for VYNE but reduced the price target to $5.75 from $28 due to dilution from the equity and warrant raise.
October 30, 2023 | 5:29 pm
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NEUTRAL IMPACT
VYNE Therapeutics' positive preclinical data for VYN202 and the planned Phase 1a trials could boost investor confidence. However, the reduced price target by HC Wainwright due to dilution from equity and warrant raise might negatively impact the stock price.
The positive preclinical data for VYNE's VYN202 and the planned Phase 1a trials could increase investor confidence in the company's potential, possibly leading to a rise in the stock price. However, the reduced price target by HC Wainwright due to dilution from the equity and warrant raise could create a negative sentiment among investors, potentially leading to a drop in the stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100