Oct. 2 at 12:29 PM
HCW: We reiterate our Buy rating and
$12 price target on
$EPRX following new data from Cohort 9 of the RESOLVE trial, the first group to receive the highest planned dose of EP-104GI at 8 mg per injection. Patients in this cohort achieved the largest improvements in tissue health and eosinophil reduction observed to date, continuing the dose-response relationship seen in earlier groups.
The RESOLVE Safety Committee and members of the company's Clinical Advisory Board endorsed advancing this dose into the Phase 2b portion of the study.
Importantly, the treatment remained well tolerated, with no serious adverse events or cases of candidiasis reported. The durable twelve-month efficacy and validation of once-yearly dosing further expands the commercial potential of EP-104GI in a U.S.
EoE market exceeding one million patients. We believe this new data should drive a positive stock re-rating, as EPRX's ~
$212M market capitalization continues to undervalue the commercial potential of EP-104GI.
