Oppenheimer bullish on Acasti's pipeline after Grace Therapeutics buyout

Alarko Carrier Sanayi ve Ticaret

22/12/2021 12:54

** Brokerage Oppenheimer says Acasti Pharma Inc  ACST.O  is
positioned for growth over the next few years following its
buyout of rare disease drug developer Grace Therapeutics in
August
    ** Starts coverage of ACST with an "outperform" rating and a
$6 PT, representing an upside of nearly 441% to stock's last
close
    ** Shares of ACST jump 20.7% to $1.34 premarket
    ** The buyout, which followed ACST's clinical trial
disappointments with its prior cardiovascular development
program, gives the drug developer access to three clinical-stage
candidates, all of which have FDA orphan drug status and are
being advanced towards marketing applications - Oppenheimer
    ** Company is developing GTX-102, an oral spray for
Ataxia-telangiectasia which affects the nervous system and other
organs, intravenous drug GTX-104 for subarachnoid haemorrhage or
bleeding around the brain, and GTX-101 a topical spray to treat
a skin condition associated with a viral infection
    ** While the diseases targeted by the drug candidates differ
widely, "each may offer meaningful advantages over
standard-of-care while mitigating development risk and cost"
says brokerage, and recommends investors build a position
    ** Stock had fallen 57.3% YTD, up to the last close

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))