Bet_Noire/iStock via Getty Images Oppenheimer has initiated coverage of Cartesian Therapeutics ( NASDAQ: RNAC ) with an outperform rating, citing the company’s drug candidate for myasthenia gravis, or MG. The investment bank said it believes the therapy, Descartes-08, can “deliver competitive results” in the treatment of MG with a "longer treatment effect than other available therapies." Oppenheimer also highlighted Cartesian’s approach to CAR-T therapies.
“Investing in Cartesian requires rethinking what you thought you knew about CAR-T therapy because this is different,” the bank analysts wrote in their note. “It’s probably not curative, but it also doesn’t come with CAR-T’s usual baggage ((inpatient hospitalization and cancer risk))." Oppenheimer added that it viewed Descartes-08 as a “CAR-T for less life-threatening diseases” and was “bullish on the upcoming Phase 2b data in June/July.
" The bank set its price target at $50. More on Cartesian Therapeutics Mizuho starts Cartesian at buy, cites lead drug asset Cartesian stock climbs 8% on FDA regenerative therapy designation Historical earnings data for Cartesian Therapeutics Financial information for Cartesian Therapeutics.
