H.C. Wainwright analyst Patrick Trucchio reiterated a Buy rating on Faron Pharmaceuticals Oy (FARN – Research Report) today and set a price target of £10.00.
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Patrick Trucchio has given his Buy rating due to a combination of factors, primarily centered around the promising data from Faron Pharmaceuticals’ bexmarilimab (Bex) program. The Phase 2 trial results have shown impressive efficacy in treating high-risk myelodysplastic syndrome (MDS), with a median overall survival of 13.4 months in relapsed/refractory cases, which is significantly higher than historical expectations. Additionally, the composite complete response rate in frontline patients under the updated criteria is noteworthy, indicating Bex’s potential as a transformative treatment in this area.
Furthermore, the drug’s favorable safety profile and its effectiveness in patients with TP53 mutations provide additional advantages in a challenging patient population. The upcoming FDA meeting and the initiation of a Phase 3 trial are seen as crucial steps towards regulatory approval, with the possibility of accelerated approval based on interim analysis. These developments, coupled with the strong data presented at the ASCO 2025 Annual Meeting, support the view that Bex could become a foundational therapy for high-risk MDS, justifying the Buy rating and the projected price target.