Antti Siltanen has published a new company report on Herantis Pharma. 
Herantis released new results from its biomarker analysis. The results relate to the Phase I clinical safety and tolerability study of the HER-096 drug candidate, which included an analysis of biomarkers. According to the results, the candidate shows biological activity in Parkinson’s patients. In practice, the reported positive results impact the planning of the next research phase and potentially provide leverage in partnership negotiations with a larger pharmaceutical company. In our view, Herantis’s big picture remains unchanged following the results, so we reiterate our target price of 2.5 euros. Due to the rise in share price, the risk-reward ratio has weakened, which is why we are lowering our recommendation to Reduce (prev. Accumulate).