Analysts at Peel Hunt have highlighted their optimism for Faron Pharmaceuticals Limited (AIM:FARN, OTC:FPHAF)'s bexmarilimab leukaemia treatment, noting the drug's progress in clinical trials and with regulatory bodies.
Though Peel Hunt noted Faron’s continued operating losses due to the continued investment in the “exciting asset” that is bexmarilimab, the broker stated that “we remain very enthusiastic about the prospects for bexmarilimab”.
However, analysts did concede that Faron’s target share price may have to be reduced in the meantime.
Bexmarilimab’s progress through the US regulatory landscape also caught the eye of analysts.
“Perhaps more importantly for (Faron’s) equity story, bexmarilimab was granted orphan drug designation (ODD) status from the US Food and Drug Administration.
“As a reminder, this designation supports the development of medicines for rare disorders that affect fewer than 200,000 people in the US,” said Peel Hunt. “ODD provides Faron with certain benefits, such as market exclusivity upon regulatory approval if rec