Iveric Bio rises as Wainwright starts coverage with 'outperform' rating

IVERIC bio

19/08/2021 19:41

** Shares of drug developer  ISEE.O  rise as much as 5.6% to
$9.58 - stock among top pct gainers on the Nasdaq Biotechnology
Index  .NBI  
    ** Wainwright starts with "outperform" rating and $20 PT,
nearly double the stock's trading price, citing efficacy and
safety profile of Zimura - co's drug for eye disorder geographic
atrophy
    ** Further analysis of the drug, which is in a second
late-stage trial, could explain its impact on the possible delay
in onset of central vision loss - brokerage 
    ** Co had reported positive data from Zimura's first
late-stage trial last year, while results from the second
late-stage are expected in H2 of 2022  urn:newsml:reuters.com:*:nBw82pG6Pa 
    ** Wainwright models Zimura's launch in 2023 and estimates
the drug will reach peak revenue of $917.3 mln by 2030
    ** Cowen also rates stock "outperform" with a PT of $15 
    ** Including session's gains, stock up ~37.5% this year
compared with a 8.3% increase in  .NBI  index 

  
    

 (Reporting by Bhanvi Satija)
 ((Bhanvi.Satija@thomsonreuters.com;))