H.C. Wainwright starts Aptorum coverage with 'buy'; shares up

Aptorum

07/10/2022 13:54

** Shares of Aptorum Group Limited  APM.O  rise 14.6% to
$1.02 before the bell 
    ** Brokerage H.C. Wainwright initiates coverage with "buy"
rating and $8 PT, says co's lead candidate ALS-4 has $2 bln
blockbuster opportunity in treating skin infections and unmet
medical life-threatening bacterial conditions
    ** APM may submit application to start mid-stage trial by
year-end or early 2023 after completing early-stage trial in
January - brokerage [https://bwnews.pr/3EqDrzp
]
    ** Brokerage sees ALS-4's approval in the U.S. by 2030 and
sales of $2.8 bln in 2035 on promising results in early stage
data
    ** Views APM's recent launch of dietary supplement
NativusWell for women with menopausal symptoms in Hong Kong will
reduce concerns regarding co's near-term financing needs 
    ** NativusWell can establish sales of $55 mln in the U.S.,
$56 in Europe and the UK, and $12 mln in Hong Kong and Singapore
by 2035 - brokerage 
    ** As of last close, stock was down 40.7% YTD
 (Reporting by Pratik Jain)
 ((Pratik.Jain@thomsonreuters.com;))