After Bionomics announced topline results from its Phase 2b ATTUNE trial of BNC210 for the treatment of PTSD, William Blair called the data “a significant win for Bionomics,” noting efficacy signals on multiple measures and at multiple time points achieving statistical significance. While potential liver concerns “prevent a clean home run,” the firm thinks the lack of observed liver injury suggests this impact can be managed or sees the possibility for a slightly lower dose to be used in future studies. The firm, which adds that it anticipates shares “to rally significantly during trading hours” given “the microcap nature of the stock,” reiterates an Outperform rating on Bionomics shares, which are up $1.98, or 202%, to $2.96 just before 11:30 am ET.
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