William Blair analyst Lachlan Hanbury Brown has maintained their bullish stance on KLRS stock, giving a Buy rating on November 3.
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Lachlan Hanbury Brown has given his Buy rating due to a combination of factors surrounding Kalaris Therapeutics’ promising developments in their clinical trials. The company is making significant progress with its Phase I study of TH103 for the treatment of neovascular age-related macular degeneration (nAMD), with top-line data expected in the fourth quarter of 2025. This study is crucial as it assesses the safety, pharmacokinetics, and preliminary efficacy of TH103, which could potentially lead to further advancements in treatment options for nAMD.
Additionally, Kalaris has initiated a Phase Ib/II dose-finding trial to evaluate multiple dose levels of TH103, with initial results anticipated in the second half of 2026. The strategic decision to partner with KBI Biopharma for the manufacturing of TH103’s clinical supply and the recent expansion of their leadership team with the appointment of an experienced Chief Financial Officer further strengthens the company’s position. These developments collectively suggest a positive outlook for Kalaris Therapeutics, justifying the Buy rating.
In another report released on November 3, Citizens JMP also initiated coverage with a Buy rating on the stock with a $20.00 price target.