Maxim analyst Jason McCarthy lowered the firm’s price target on Unicycive Therapeutics to $4 from $6 but keeps a Buy rating on the shares. The analyst cites the FDA request that the company provide additional information on Renazorb following its review of 6-month toxicity data in mice. This is going to delay the NDA filing, Maxim tells investors in a research note, pushing out its timelines for commercialization to 2025 from 2024. The firm adds however that based on prior data both preclinical and clinical data, it still expects the drug to ultimately gain approval on the 505(b)(2) pathway.
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