Leerink reiterates an Outperform rating on Kyverna Therapeutics with a $48 price target after the granted Regenerative Medicine Advanced Therapy designation to KYV-101 for the treatment of stiff-person syndrome. RMAT designation potentially accelerates clinical development by facilitating earlier and more frequent interactions with the FDA, the analyst tells investors in a research note. The firm believes the designation supports the quality of the data generated to date and is a positive signal for the further development of KYV-101 in neuromuscular diseases. Leerink says the designation is positive for shares.
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