- Wedbush has initiated Imago BioSciences ( NASDAQ: IMGO ) with an outperform rating saying that its candidate bomedemstat could transform the treatment of myeloproliferative neoplasms.
- The firm has a $25 price target (~51% upside based on Thursday's close)
- Analyst Robert Driscoll said that bomedemstat has demonstrated strong efficacy in a phase 2 study of essential thrombocythemia patients "that we believe supports a planned pivotal study."
- Bomedemstat is in phase 2 for essential thrombocythemia and myelofibrosis. A phase 2 trial is enrolling for polycythemia vera.
- He added that the candidate's mechanism of action and safety could appeal to patients who do not find success with JAK inhibitors.
- Myeloproliferative neoplasms are a group of diseases in which the bone marrow makes too many red blood cells, white blood cells, or platelets.
- Seeking Alpha's Quant Rating views Imago ( IMGO ) as a hold with high marks for growth and revisions .
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Imago initiated at outperform at Wedbush on myeloproliferative neoplasms candidate