Ei mitään hirveätä hurraata, mutta kuitenkin:
Faron Pharmaceuticals Limited (AIM:FARN) retained Stifel’s ‘buy’ rating and €2.50 price target after its research and development day strengthened the case for bexmarilimab, though the broker still awaits decisive BEXERA results.
The bank said the event increased its confidence in the programme without disclosing major new efficacy data or materially changing its investment thesis.
That confidence rests partly on preliminary evidence that bexmarilimab, or BEX, could support normal bone marrow function in high-risk myelodysplastic syndrome, a rare blood cancer.
However, the broker said controlled clinical data remain essential to determine whether these biological effects translate into meaningful patient benefit.
BEXERA will address that question by testing two BEX doses alongside azacitidine against a control group, helping establish the drug’s added benefit and select a dose for subsequent development.
According to Stifel, first patient dosing remains expected in the fourth quarter of 2026, with phase IIb results targeted for late 2027.
That timetable leaves little room for delays, with €32 million in cash reported at the end of June and prior funding guidance through November 2027.
Stifel said this brings funding close to the expected results, but leaves the company exposed to recruitment delays or changes in the development schedule.