H.C. Wainwright Reiterates Buy Rating on Gain Therapeutics (GANX)

H.C. Wainwright analyst Raghuram Selvaraju reiterated a Buy rating and $8.00 price target on Gain Therapeutics (NASDAQ: GANX).

The analyst commented: "Earlier this week, Gain Therapeutics announced that the last healthy subject in the multiple ascending dose (MAD) part of its Phase 1 study of lead compound GT-02287 has completed dosing at the highest planned dosage levels. No discontinuations or serious adverse events were reported. After database lock, top-line data from this Phase 1, randomized, double-blind, placebo-controlled study is slated to be released in August, with full safety analysis and plasma pharmacokinetics (PK) to be presented at a future congress. Full results may be presented at a medical meeting—the International Conference on Parkinson's Disease and Movement Disorders—slated to be held in Philadelphia, PA starting in late September of this year. The MAD part of the Phase 1 study was initiated in February of this year; all four MAD cohorts have completed daily oral dosing for 14 days. GT-02287 was well-tolerated up to and including the highest planned dosage level; no safety signals have been detected in the 32 healthy volunteers who participated in the MAD part. Among the adverse events that occurred within the study, 90% were mild and 10% were moderate with no Grade 3 or higher events reported. The favorable safety and tolerability profile and the appropriate range of plasma exposures achieved after oral administration bode well, in our view, for future clinical assessment of GT-02287. Gain plans to start clinical testing of the compound in patients with Parkinson's disease (PD) before the end of this year. We reiterate our Buy rating and $8 PT."

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

Shares of Gain Therapeutics closed at $1.20 yesterday.

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