(News Bulletin 247) – Oddo maintains its ‘outperformance’ rating on the MedinCell share, with a price target raised from 11 to 14 euros.
With a return from the FDA expected in the coming weeks (Q2 2023), the approval followed by the commercial launch of Uzedy (mdc-IRM) is the main catalyst for the stock in the short term, the analyst office believes.
For Oddo, this consecration will mark both MedinCell’s transition from an R&D biotech to a commercial company, but also will further enhance the credibility of its BEPO platform for obtaining new partnerships.
Finally, in addition to the approval of Uzedy, MedinCell’s newsflow over the next few months should be marked by the clinical progress of its two other assets, mdcCWM (celecoxib) for the management of post-operative pain and mdcTJK (olanzapine) in schizophrenia.
“We expect phase III results respectively at the end of 2023 and Q3/Q4 2024”, concludes the analyst.
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