Reata gains as Stifel raises PT on genetic disorder drug potential

Reata Pharmaceuticals

13/04/2023 16:36

** Reata Pharmaceuticals Inc's  RETA.O  shares up 1.8% at
$98.20
    ** Brokerage Stifel raises PT on drug developer's stock to
$115 from $105, on optimism over recent FDA approved drug
Skyclarys for treatment of a rare genetic disorder 
    ** Sees RETA as well-prepared for a focused Skyclarys launch
to achieve rapid initial market uptake 
    ** Says story for co's another chronic kidney disease drug
bardoxolone, rejected approval by advisory panel to the U.S. FDA
in 2021, is still on 
    ** Adds positive long-term bardoxolone trial data by
Japanese partner, could reopen discussion with FDA for approval
in Alport syndrome (AS) indication, with possible upside to
stock 
    ** AS patients experience progressive loss of kidney
function, and the disease has no FDA approved treatments
currently
    ** Skyclarys offers a strong backstop to any negative
pressure, and sees upcoming trial results as a low-risk win for
RETA shares - brokerage 
    ** Including session's gain, RETA stock up 158.5% YTD

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))