H.C. Wainwright analyst Joseph Pantginis raised the firm’s price target on Biora Therapeutics to $6 from $4 and keeps a Buy rating on the shares after the company announced presentations of preclinical data related to its oral biotherapeutic delivery system. In the first series of data, the company showed in a swine model, OBDS capsules successfully deploy cargo and loaded agents reach therapeutic bioavailability as intended, Pantginis tells investors in a research note. The analyst points out that eight animals showed detectable levels of adalimumab, an FDA approved anti-TNF therapy, with an oral bioavailability average of 25%. Pantginis says multiple studies provide insight into how the OBDS platform is being optimized for success in upcoming human trials.
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