Vyome Holdings upgraded to Buy at Maxim on immuno-inflammatory pipeline

As previously reported, Maxim upgraded Vyome Holdings (HIND) to Buy from Hold with a $15 price target after the analyst takes over coverage of the stock, citing opportunities in the company’s immuno-inflammatory pipeline. Following the reverse merger on 8/14, Vyome emerges as a pure-play biotech with a clean balance sheet, no debt or warrants, and $7M in cash, which the company expects to provide runway into 2027, the analyst tells investors in a research note. VT1953 is a besifloxacin-based topical gel for MFWs, a rare disease involving bacterial infection of tumors that invade the skin, with the condition impacting up to 100K patients in the US with no FDA-approved therapies, and if the company’s Phase 2 data expected in Q4 is positive, it could set up a pivotal study, Maxim added.