ProQR Therapeutics shares remain ‘fairly valued,’ says JMP Securities

After Eli Lilly (LLY) and ProQR Therapeutics (PRQR) announced the expansion of their licensing and collaboration agreement to add five more targets, JMP Securities analyst Jonathan Wolleben said the expansion provides non-dilutive cash for ProQR as well as "further external validation" for the Axiomer RNA-editing technology. While telling investors that he is looking forward to learning more about the liver targets at an R&D day in Q1, which "could provide the opportunity to be more constructive on the internal pipeline," until he has that visibility he views shares as fairly valued at these levels and keeps a Market Perform rating on ProQR.