Poxel price target lowered to EUR 4 from EUR 23 at JMP Securities

JMP Securities lowered the firm’s price target on Poxel to EUR 4 from EUR 23 and keeps an Outperform rating on the shares. Poxel’s debt restructuring agreement extends its cash runway to 2025 driven by strong TWYMEEG royalty inflection, the analyst tells investors in a research note. The firm views the debt restructuring as a key step to catalyzing partnering and funding opportunities for pipeline programs PXL065 in NASH and PXL770 in rare metabolic indications.