Jun. 23 at 2:35 PM
BMO Capital⬆️
$TSHA's PT to
$14 (was
$10),⬆️'102's PoS in RTT to 55% (was 50%)—sees Tx pulling 70% market share—reit'd Outperform and said: Durability Deepens With Updated REVEAL Data, Target to
$14 on Differentiation
$ACAD $NGNE AVXL UCBJY
BMO Capital added—Derisked safety and further improvements in TSHA-102 efficacy increase our confidence in the asset as a leading Rett gene therapy.
With TSHA-102 demonstrating additional increases in functional gains from prior updates, we increase our probability of success to 55% and increase our target price to
$14/share.
Long-term we expect TSHA-102 will be the leading Rett gene therapy, commanding 70% market share.
Over enrollment in the pivotal REVEAL study reduces the statistical barrier for success, but given robust efficacy demonstrated at 6-months, we do not believe this is necessary.
