H.C. Wainwright Reiterates Neutral Rating on Inhibikase Therapeutics Inc (IKT)

H.C. Wainwright analyst Ed White reiterated a Neutral rating on Inhibikase Therapeutics Inc (NASDAQ: IKT).

The analyst commented: "On September 9, 2024, Inhibikase received IND-clearance from the FDA for the Phase 2b 702 trial of IkT-001Pro in pulmonary arterial hypertension (PAH). IkT-001Pro is a prodrug of imatinib (Gleevec). It previously received FDA Orphan Drug Designation for stable-phase chronic myelogenous leukemia. The company has had discussion with the FDA regarding Orphan Drug Designation for delivery of imatinib by IkT-001Pro for PAH and plans to apply for Orphan Drug Designation following completion of the required pre-clinical studies. Inhibikase believes IkT-001Pro could have a more favorable safety and tolerability profile compared to imatinib in PAH. Selected study sites for the company’s Phase 2b 702 trial have already been targeted. Inhibikase previously stated that it has enhanced its manufacturing process development efforts for the drug to support late-stage clinical development. It is developing new dosage forms, a more efficient production process, and a high throughput tableting process for dosage forms that are differentiated from generic imatinib mesylate based on FDA feedback. At the pre-IND meeting, the FDA confirmed that IkT-001Pro would be viewed as a new molecular entity. Inhibikase plans to follow the 505(b)(2) pathway for IkT-001Pro. Maintain Neutral rating."

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

Shares of Inhibikase Therapeutics Inc closed at $2.29 yesterday.

You May Also Be Interested In

• Curium to acquire Lantheus in deal valued at up to $8 billion
• BJ's Restaurants (BJRI) PT Raised to $74 at Mizuho
• Alliant Energy (LNT) PT Lowered to $75 at Mizuho