In a report released today, Ed Arce from H.C. Wainwright maintained a Buy rating on Unicycive Therapeutics (UNCY – Research Report), with a price target of $4.50.
Ed Arce has given his Buy rating due to a combination of factors related to Unicycive Therapeutics’ anticipated milestones and financial positioning. The company’s lead program, oxylanthanum carbonate (OLC), targeting hyperphosphatemia in chronic kidney disease patients on dialysis, is poised for a pivotal trial top-line data readout in late 2Q24. Arce’s optimism is further bolstered by the fact that OLC’s efficacy has been previously established, and the upcoming study results could lead to a New Drug Application (NDA) filing in mid-2024, with FDA approval potentially coming in mid-2025. This timeline aligns with the company’s financial runway, which is projected to extend into 2026 following a recent capital infusion.
Additionally, Arce’s Buy rating reflects the progress in Unicycive’s pipeline, specifically with UNI-494, a promising treatment for acute kidney injury. The completion of the single ascending dose portion of UNI-494’s Phase 1 study, and the ongoing multiple ascending dose study with full results expected in the second half of 2024, indicate a steady advancement towards addressing delayed graft function, a condition lacking FDA-approved treatments. The company’s financials support its development activities, with a reported net loss but a cash position bolstered by recent funding, putting Unicycive in a position to pursue its operational plans effectively.
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Unicycive Therapeutics (UNCY) Company Description:
Unicycive Therapeutics Inc is a biotechnology company dedicated towards developing treatments for certain medical conditions. It is focusing on kidney diseases. The company’s lead drug, Renazorb, is a novel phosphate binding agent being developed for the treatment of hyperphosphatemia. Unicycive’s other drug, UNI-494, is a new chemical entity with issued composition of matter patent protection in late preclinical development for the treatment of acute kidney injury.
Read More on UNCY:
- Unicycive Therapeutics Announces Full Year 2023 Financial Results and Provides Business Update
- Unicycive Therapeutics reports FY23 EPS ($1.28), consensus ($1.24)
- Unicycive Therapeutics to be Featured in Multiple Presentations at the Upcoming European Renal Association Congress
- Unicycive Therapeutics to sell 50,000 shares at $1,000 in private placement
- Unicycive Announces $50 Million Private Placement
