Chardan Capital Markets Reiterates Buy Rating on CervoMed (CRVO)

Chardan Capital Markets analyst Danill Gataulin reiterated a Buy rating and $15.00 price target on CervoMed (NASDAQ: CRVO)

The analyst comments "CervoMed reported 1Q25 financial results and provided updates on its programs. The company ended the quarter with $35.2 mm in cash, cash equivalents, and marketable securities. Together with remaining grant funds to be received from the NIA, the company projects operational runway into mid-2026. With neflamapimod back on track in DLB, several 2025 and 2026 catalysts await. Following a disappointing data release in December 2024, which revealed that CervoMed's lead asset neflamapimod did not meet the primary or secondary endpoints in the initial 16-week placebo-controlled phase of the RewinD-LB study for dementia with Lewy Bodies (DLB), the company was able to rescue the program with March data from the OLE phase of the study, which showed that the negative initial results were attributable to the study's use of expired capsules, rather than to any inherent limitations of the drug itself. Based on the positive OLE data, we upgraded our rating to Buy (see Research). Additional data for neflamapimod in DLB are scheduled to be released this year: in 2H25, the company will report 32-week results from the RewinD-LB OLE (40 mg TID dose); then in 4Q25, it will report initial safety, biomarker, and PK data from a Phase 2a study involving patients with mild-to-moderate DLB treated with 80 mg BID dosing. The company plans to initiate a Phase 3 trial for neflamapimod in DLB in mid-2026 after meeting with the FDA, subject to available funding."

For an analyst ratings summary and ratings history on CervoMed click here. For more ratings news on CervoMed click here.

Shares of CervoMed closed at $8.49 yesterday.

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