Denali interim P1b study results in ALS ‘positive,’ says Cantor Fitzgerald

After Denali Therapeutics announced interim results from a Phase 1b study of its eIF2B agonist, DNL343, in participants with amyotrophic lateral sclerosis, or ALS, Cantor Fitzgerald analyst Charles Duncan said he views the data as "positive" as they indicate ‘343 has pharmacokinetics that support daily oral dosing and pharmacodynamics that "may bode well for clinical efficacy." The analyst, who was also "impressed" with the safety findings, has an Overweight rating and $85 price target on Denali shares.