H.C. Wainwright analyst Sean Lee CFA maintained a Hold rating on Virios Therapeutics (VIRI – Research Report) today and set a price target of $0.40.
Sean Lee CFA has given his Hold rating due to a combination of factors concerning Virios Therapeutics. The company’s financial performance, as reported in the fourth quarter of 2023, showed no revenues and a net loss that aligned with consensus estimates. The financial modeling projects continued absence of revenues and a predicted net loss for 2024. Despite limited financial resources, noted by the company’s cash position which is expected to support operations, the company is advancing its IMC-2 program for the treatment of long-COVID (LC), with topline results anticipated in mid-2024.
The potential market for LC treatments is substantial, and Virios’s success in its Phase 2 study could be a significant catalyst. However, challenges remain, including the need for a partnership to co-develop IMC-2 for late-stage studies. Additionally, Virios is actively seeking a partner for the Phase 3 development of its fibromyalgia program, which involves a comprehensive three-step plan post discussion with the FDA. The Neutral rating and introduction of a $0.40 price target stem from a risk-adjusted net present value analysis of the company’s product pipeline and projected revenues up to 2030, taking into account multiple risks such as clinical, regulatory, commercial, collaboration, financial, intellectual property, and potential impacts of COVID-19.
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Virios Therapeutics (VIRI) Company Description:
Virios Therapeutics Inc is a development-stage biotechnology company. It is focused on advancing novel antiviral therapies to treat diseases associated with a viral triggered abnormal immune response such as fibromyalgia.
Read More on VIRI:
- Virios Therapeutics Announces Fourth Quarter and Full Year 2023 Financial Results
- Virios Therapeutics expects resources to fund operations into 4Q24
- Virios Therapeutics reports Q4 EPS (6c) vs. (11c) last year
- Virios Therapeutics announces director fee, management team salary cut
- Virios Therapeutics Issues Shareholder Letter Highlighting Corporate Progress and Key Upcoming Milestones
