CervoMed up after Jones Research upgrades rating

CervoMed

13/03/2025 15:48

** Shares of drug developer CervoMed CRVO.O rise 4.4% to $6.44

** Brokerage Jones Research upgrades CRVO to "buy" rating from "hold", keeps PT of $15

** Upgrade follows CRVO's announcement of positive results from study of its drug, neflamapimod, in patients with dementia with Lewy bodies (DLB) on Monday

** Data from study is boosting investor confidence, and we are seeing a more riskon approach heading into the next steps for netlamapimod in DLB patients - Jones Research

** DLB is a form of dementia caused by the accumulation of protein deposits called Lewy bodies in the brain's nerve cells

** Up to Wednesday's close, stock up 176.7% YTD

 (Reporting by Juby Babu in Mexico City)

 ((Juby.Babu@thomsonreuters.com;))