Jul. 10 at 11:34 AM
Needham⬆️
$MPLT's PT to
$45, from
$42,⬆️ML-007-MC aka ML-007PAC PoS to 60 % and reiterated Buy.
$ABBV $BMY JNJ OTSKY NBIX LBRX TEVA ATAI RVPH
Needham said -- We recently met with management following which we remain optimistic for the upcoming Ph 2b ZEPHYR data readout for ML-007-MC in schizophrenia by mid-August, based on mtg commentary that it continues to see discontinuation and dose step down rates on a blinded basis trend below its expectations.
We are increasing the POS from 55% to 60% which takes our PT to
$45.
In this note, we also highlight what we believe a positive ZEPHYR data could look like and potential readthroughs from ADEPT readout later this year.
We expect the momentum in MPLT to continue with the readout of ZEPHYR and ADEPT studies this year.
