Chemomab Therapeutics initiated with a Buy at Roth MKM

Roth MKM analyst Dylan Dupuis initiated coverage of Chemomab Therapeutics with a Buy rating and $7 price target. The company’s lead asset CM-101 has the potential to be a first-in-class anti-CCL24 mAB and potentially first-in-treatment for primary sclerosing cholangitis, the analyst tells investors in a research note. The firm says results from the ongoing Phase 2 PSC trial of CM-101 are expected in the second half of 2024, “representing a potentially significant, yet binary, intermediate term catalyst.” The study is de-risked by extensive preclinical, translational and early clinical data, says Roth.