Shares of biopharmaceutical company Poxel (OTC:PXXLF) are soaring today after its kidney disorder therapy PXL770 bagged the Orphan drug status from the U.S. Food and Drug Administration (FDA).
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The designation is for the treatment of Autosomal-dominant Polycystic Kidney disease (ADPKD) and preclinical studies support the advancement of the therapy into Phase 2 development.
Further, the company is now focusing the development efforts for PXL770 exclusively on rare diseases on the back of promising data which indicated the potential for multiple rare metabolic indications.
What Is Poxel Stock Prediction?
JMP Securities’ Jason Butler, the only analyst covering Poxel stock, has reiterated a Buy rating alongside a $22.59 price target.
This implies an eye-popping 769.04% potential upside for the stock.
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