CervoMed initiated with a Buy at Chardan

Chardan analyst Daniil Gataulin initiated coverage of CervoMed with a Buy rating and $55 price target. The analyst believes neflamapimod has a potential to become a disease-modifying treatment option to help address the unmet medical need for patients with dementia with lewy bodies , with a potential upside in other neurodegenerative indications. CervoMed is expected to present topline data from the Phase 2b trial of neflamapimod in patients with early-stage DLB in December, the analyst tells investors in a research note.