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RBC Capital Markets has initiated protection of newly public Lexeo Therapeutics (NASDAQ:LXEO) with an outperform score, citing the corporate’s administration staff and business alternative for its Friedreich’s ataxia drug candidate.
RBC mentioned that Biogen’s (BIIB) latest purchase of Reata for $7.3B commercially validated Friedreich’s ataxia as a sign. It added that Lexeo’s drug candidate has proven proof-of-concept cardiac advantages, whereas Reata’s drug has none. The funding agency mentioned it noticed a $1.1B peak market alternative for Lexeo’s drug, with a 20% likelihood of success contributing $6 of its value goal of $22.
RBC additionally referred to as Lexeo “pioneers” in cardiac gene remedy, an space the place “we’ve got seen clear regulatory flexibility,” citing Rocket Prescribed drugs.
Extra on Lexeo Therapeutics, Inc.
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