AURA - Aura gains as JMP starts with Bullish view citing treatment platform

• Aura Biosciences ( NASDAQ: AURA ) is trading higher in the morning hours Tuesday after JMP Securities issued an Outperform rating as it started coverage on the clinical-stage biotech citing its novel therapeutic platform.
• The virus-like drug conjugates (VDC) platform Aura ( AURA ) is advancing “could establish a new standard of care in multiple cancer indications,” the analyst Jonathan Wolleben wrote with an DCF-derived price target of $26 per share for the stock.
• The firm highlights Aura’s ( AURA ) VDC candidate, AU-011, which is undergoing studies for choroidal melanoma, the commonest primary ocular cancer in adults, according to the analyst.
• In addition, JMP notes that Phase 2 data expected in the fall for AU-011 should de-risk the pivotal trial for the candidate scheduled to start later this year.
• In March, Aura ( AURA ) announced that the European Commission issued orphan drug designation for AU-011 as a treatment for several conditions of uveal melanoma, including choroidal melanoma.

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