CervoMed price target lowered to $4 from $45 at Roth MKM

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Thu, Dec 12, 2024, 5:45 AM 1 min read

Roth MKM lowered the firm’s price target on CervoMed (CRVO) to $4 from $45 and keeps a Buy rating on the shares. The company has reported negative top-line results from the Phase 2b RewinD-LB – dementia with Lewy bodies – study of neflamapimod in pure DLB patients, raising questions about the program’s viability, the analyst tells investors in a research note. A potential reason for failure could be the drug’s inability to achieve the desired plasma concentration – a proxy for efficacy – and CervoMed is pausing Phase 3 preparations, originally scheduled to begin in the second half of FY25, the firm added.

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