Jefferies cuts Clinuvel's PT on EPP drug rollout concerns

RevoluGROUP Canada

29/08/2023 19:55

** Analysts at Jefferies cut price target of Clinuvel
Pharmaceuticals  CUV.AX  to A$35.80 from A$36.80; maintain 'buy'
rating 
    ** Says drivers of Clinuvel's result included solid revenue
growth and lower costs than expected
    ** CUV reported 19% jump in FY revenue at A$78.3 mln ($50.62
million)
    ** "We believe that CUV currently is treating only about 4%
of the EPP patients in larger countries of Europe, Americas and
Asia, a situation which should be progressively corrected
through ongoing local approvals" - Brokerage
    ** Clinuvel's drug Scenesse is a treatment for EPP, or
erythropoietic protoporphyria – a rare condition that causes
severe pain after exposure to the sun
    ** CUV has fallen 2.5% YTD, as of last close 


($1 = 1.5468 Australian dollars)

 (Reporting by Aishwarya Nair in Bengaluru)
 ((Aishwarya.Nair@thomsonreuters.com; +91-9167838937 Twitter: https://twitter.com/Aishwaryartrs
 ;))