H.C. Wainwright starts coverage on Inhibikase with 'buy', shares rise

Inhibikase Therapeutics

18/04/2023 12:52

** Shares of drug developer Inhibikase Therapeutics  IKT.O  rise 15.6% to 67 cents premarket
    ** H.C. Wainwright & Co initiates coverage on co with "buy" rating and sets PT of $5   
    ** Brokerage sees significant upside to co's lead drug candidate, IkT-148009, being tested
to treat Parkinson's disease  
    ** Brokerage expects mid-stage study data from IkT-148009 in mid-to-fall 2024   
    ** Says it anticipates a 2027 launch for IkT-148009 in Parkinson's disease with sales of $14
mln that year and sales of $366 mln in 2030 
    ** IkT-148009 has been shown to halt disease progression, protect and restore lost neurons
in pre-clinical animal studies -IKT 
    ** As of last close, stock up ~16% YTD

 (Reporting by Mariam Sunny)
 ((Mariam.ESunny@thomsonreuters.com;))