For biotech stocks like Taysha Gene Therapies (NASDAQ:TSHA), certain points can help accelerate share price gains. As Taysha found its shares up over 130% at one point in Monday afternoon’s trading, it’s clear at least one of those came to pass. It turns out, though, that a lot of good news hit Taysha all at once, and made this biotech stock a lot more attractive to investors.
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The first bit of good news came from successful testing on TSHA-102, which is currently in REVEAL Phase 1 / 2 testing. TSHA-102 is geared toward fighting Rett Syndrome, a genetic disorder primarily manifesting in females that can deliver a blow to everything from speech and motor skills to even coordination. But TSHA-102 looks like it’s on a path to fighting that disease, thanks to solid results from the testing that featured “…no treatment-emergent serious adverse events…,” according to Taysha itself.
The second, meanwhile, comes from a new slug of financing that will help keep Taysha running well into 2025. Led by RA Capital Management, multiple investors ponied up a combined total of $150 million, which extends Taysha’s cash runway to the third quarter of 2025. Will that be cash sufficient to see TSHA-102 hit markets, and fight a disease that very little else is fighting? Taysha now has, essentially, two years to see its product line take off or else it’s going to have to go back to the well.
Analysts are fairly well persuaded that Taysha is worth buying into. Taysha Gene Therapies stock is considered a Strong Buy by analyst consensus, with all four analysts covering it giving it a Buy recommendation. Even with today’s dazzling price action, Taysha Gene Therapies stock still comes with an impressive 145.66 upside potential, thanks to the average price target of $4.25.
