Chemomab Therapeutics resumed with a Buy at Roth MKM

Roth MKM resumed coverage of Chemomab Therapeutics with a Buy rating and $7 price target. The company has a first-in-class anti-CCL24 monoclonal antibody CM-101 currently in Phase 2 development for the rare disease, primary sclerosing cholangitis. CCL24 plays a dual role in inflammation and fibrosis disease, thus is applicable to a wide variety of diseases, the firm notes. Topline results for the Phase 2 PSC trial are anticipated for the second half of 2024, but enrollment continues to go well, and the company plans to provide a timing update early next year, Roth adds.