Aspire Biopharma faces potential Nasdaq delisting after compliance shortfall
Investing.com - Citizens downgraded Astria Therapeutics (NASDAQ:ATXS) stock rating from Market Outperform to Market Perform on Wednesday. The stock has shown remarkable momentum, surging 38% in the past week and trading near its 52-week high of $12.52, according to InvestingPro data.
The downgrade follows BioCryst’s acquisition of Astria’s navenibart, a plasma kallikrein inhibitor developed for hereditary angioedema (HAE) treatment.
Citizens noted that BioCryst is adding navenibart to expand its HAE portfolio beyond its daily oral medication Orladeyo.
The firm highlighted that navenibart represents a potential "best-in-class" injectable treatment option with dosing intervals of either three or six months.
Citizens stated it views the transaction as "highly likely" to close as announced, influencing its decision to adjust Astria’s rating.
In other recent news, BioCryst Pharmaceuticals has announced its agreement to acquire Astria Therapeutics for approximately $700 million in a cash and stock transaction. The deal values Astria at $13.00 per share, a 53% premium over its previous closing price, with shareholders set to receive $8.55 in cash and 0.59 shares of BioCryst common stock for each Astria share they own. Following this announcement, Oppenheimer downgraded Astria Therapeutics from Outperform to Perform. Meanwhile, H.C. Wainwright reiterated its Buy rating on Astria with a $20 price target, highlighting the company’s recent initiation of the ORBIT-EXPANSE long-term Phase 3 trial for its HAE treatment, navenibart. This trial marks the continuation of Astria’s Phase 3 program, following the pivotal ALPHA-ORBIT trial. Participants from the ALPHA-ORBIT trial may continue into ORBIT-EXPANSE, where they will receive navenibart in varying dosing regimens. These developments reflect significant strategic moves and ongoing research efforts by Astria Therapeutics and BioCryst Pharmaceuticals.
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