ALNA - Allena Greatly Improves Phase III Design Endpoint Support Improving Sentiment
Investment Thesis:
Allena Pharmaceuticals (ALNA) is a clinical-stage biotech company which currently specializes in treating hyperoxaluria and hyperuricemia. We have previously suggested that the risks to the initiation of the Phase III clinical trial were too high for investment and had placed a price target of $6.87 on the shares - a level which was breached in February 2018 with the shares falling towards into the $6.10 range before rebounding strongly in April 2018 (topping out over $16). Although this call appears to have been accurate and prudent, it was predicated on the