Heron sells assets to CorMedix for $145M upfront; Faeth's stock tumbles
Plus, news about Immunovant, Abeona Therapeutics, Ellodi Pharmaceuticals, Spruce Biosciences, Adrenyx Biosciences, Edesa Biotech, Kyorin Pharmaceutical, Charles River Laboratories, Frontage, Compass Pathways, Johnson & Johnson, Veradermics and Valneva. CorMedix acquires Heron portfolio: CorMedix
CorMedix has acquired the Heron portfolio.
Faeth Therapeutics announced data from its PIK-201 Phase 2 study of PIKTOR combined with paclitaxel. According to Investing.com, the study showed an objective response rate of 33% and a strong showing on progression-free survival. Baird noted that the trial demonstrated a differentiated safety profile with a low discontinuation rate and a low rate of Grade 3 or higher stomatitis.
Baird stated that the results support the outlook for PIKTOR in endometrial cancer, with planning for Phase 3 currently underway. The firm also noted that the data should read through positively to breast cancer opportunities, with data expected in 2027. Baird reiterated an Outperform rating and a $57.00 price target for Faeth Therapeutics, noting that the current stock price of $12.21 represents substantial upside.
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- CorMedix stock gains as Heron deal adds four products investing.com