BMO Capital views 4D Molecular’s updated wet age-related macular degeneration data for 4D-150 as mixed. The stock in midday trading is down 15%, or $2.44, to $14.38. 4D-150 effect appears durable in the population extension but not in the dose expansion cohort, the analyst tells investors in a research note. The firm says that given 4D-150’s “favorable” Phase III design, and similar population between the Phase III and extension cohort, it anticipates 4D-150 to meet its primary endpoint. However, its commercial uptake in severe patients may be questioned given the 37% rescue-free rate at one-year, adds BMO. The firm has an Outperform rating on the shares with a $40 price target.
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