Noble Capital has repeated an 'Outperform' rating and C$1.35 (US$1.05) price target again tagged Ortho Regenerative Technologies Inc (CSE:ORTH) following news the first patient in the ORTHO-R rotator cuff Phase I/II trial has received surgical treatment.
Ortho said recently that it had begun enrolling patients in its US phase I/II clinical trial of rotator cuff tear repair after the first patient surgery was completed in its US phase I/II clinical trial of rotator cuff tear repair.
“Phase I could be fully enrolled in the next couple of months,” Noble analysts said in a note to clients. "If patient enrollment expectations hold. We consider the company's ORTHO-R/RESTORE platform safety profile to be excellent.”
READ: Ortho Regenerative Technologies initiates patient enrollment following completion of first patient surgery in US phase I/II rotator cuff tear repair clinical trial
The ORTHO-R phase I/II clinical study is a prospective, randomized, controlled, and blinded clinical trial, to evaluate the safety and efficacy of its ORTHO-R soft tissue repair platform as an adjunct to standard of care surgery versus standard of care surgery alone for rotator cuff tear repair.
The Noble analysts said: “We believe Ortho RTI has a low-cost product platform that could substantially improve success rates in soft tissue surgeries.”
Additionally, the analysts pointed to a rebranding decision that came out of Ortho’s annual general meeting of shareholders on July 21, 2022. Shareholders approved a corporate name change, and the possible choices include Suregenix Inc, Chitogenx Inc and Vaskar Inc, among others.
Shares of Ortho Regenerative Technologies traded at C$0.26 on the CSE and US$0.20 on OTC Markets Thursday morning.
Ortho Regenerative Technologies is a clinical-stage orthobiologics company dedicated to the development of novel therapeutic soft tissue repair technologies to dramatically improve the success rate of orthopedic and sports medicine surgeries.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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