As previously reported, Ladenburg upgraded Aileron Therapeutics to Buy from Neutral with a $9 price target. Aileron acquired privately held Lung Therapeutics, but this was a reverse merger with the two lead assets of Lung Therapeutics, LTI-03 for idiopathic pulmonary fibrosis, or IPF, and LTI-01 for loculated pleural effusions, becoming the lead assets of the combined company, the analyst tells investors. The firm likes the primary asset, LTI-03, which is currently in a Phase 1b trial with 24 IPF patients with safety and biomarker readout expected in Q2 of 2024, the analyst added.
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