On Wednesday, Taysha Gene Therapies (NASDAQ:TSHA) received a new Outperform rating from BMO Capital, accompanied by a price target of $5.00. The biotechnology company, which is advancing its gene therapy product TSHA-102 aimed at Rett syndrome, has been recognized for its potential in addressing the $2.5 billion market opportunity.
Taysha's focus is on its lead candidate TSHA-102, which incorporates a minMeCP2 transgene and self-regulatory element designed to restore expression levels without causing toxic overexpression. Early results from the Phase 1/2 REVEAL trials, which include both low-dose adult and pediatric cohorts, have shown promising safety and signs of efficacy.
The company's immediate future involves a keen focus on the second half of 2024, when it anticipates safety and efficacy data for the high-dose cohort from the ongoing trials. This forthcoming data is crucial as it could further validate the therapeutic potential of TSHA-102 in treating Rett syndrome.
BMO Capital's initiation of coverage with an Outperform rating reflects a positive outlook on Taysha's approach to gene therapy and its capacity to meet a significant unmet need within the Rett syndrome treatment landscape. The $5.00 price target set by the firm indicates confidence in the company's direction and the anticipated milestones ahead.
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