- News of a successful Phase 2 trial for CinCor Pharma’s ( NASDAQ: CNCE ) lead asset baxdrostat sent the company shares ~50% higher on Monday towards a 52-week high as Oppenheimer cheered the experimental drug for treatment-resistant hypertension.
- The BrigHtn trial involving 275 patients reached the primary endpoint and achieved a statistically significant placebo-adjusted reduction in systolic blood pressure, including 11 mmHg at a dose of 2 mg, CinCor ( CNCE ) said in a pre-market announcement.
- “We believe the totality of data exceeds our best-case scenario, and the level of placebo-adjusted SBP reduction beats the high-single-digit expectations,” Oppenheimer analysts led by Jay Olson wrote, noting the feedback from KOLs.
- As the company targets more aggressive goals to treat hypertension, “we believe baxdrostat holds the promise to change the treatment paradigm in” treatment-resistant hypertension, the analysts concluded, raising the price target for CinCor ( CNCE ) to $60 from $35 per share.
- Read: In March, the micro-cap stock joined the Russell 2000 and Russell 3000 Indexes.
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CinCor Pharma hits 52-week high on data for antihypertensive agent