Iveric now has ‘clearer path towards approval,’ says BofA

Iveric bio (ISEE) shares traded higher Friday after competitor Apellis (APLS) announced the approval of Syfovre in geographic atrophy, BofA analyst Greg Harrison the analyst tells investors in a research note. The FDA action date for the approval of Iveric’s Zimura in geographic atrophy is set for August 19, the firm points out. It believes the Syfovre approval gives Zimura "clearer path towards approval." BofA has a Buy rating on Iveric bio with a $31 price target.