Piper Sandler lowered the firm’s price target on Omega Therapeutics to $9 from $10 and keeps an Overweight rating on the shares. The firm notes New Phase I MYCHELANGELO data showed 0.02mg/kg-0.06mg/kg OTX-2002 achieved 80% disease control rate in hepatocellular carcinoma patients. Omega continues to escalate to higher doses of 0.12mg/kg and 0.30mg/kg OTX-2002 in HCC patients, and will report additional data in mid-2024. Omega intends to initiate HCC combination cohorts with TECENTRIQ+TKI in mid-2024.
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