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On Monday, H.C. Wainwright analysts reaffirmed a Buy rating and maintained a $20.00 price target on Entrada Therapeutics (NASDAQ: TRDA), representing significant upside from the current price of $7.60. According to InvestingPro data, this aligns with the broader analyst consensus, as multiple analysts have recently revised their earnings expectations upward. This decision follows recent regulatory approvals for the company to begin a new clinical study in Europe and the United Kingdom (TADAWUL:4280).
Late last week, Entrada Therapeutics received authorization from the Health Authorities and Ethics Committees of several European Union countries under the EU Clinical Trial Regulation. The approval allows the initiation of ELEVATE-45-201, a Phase 1/2 multiple ascending dose clinical study of ENTR-601-45 in patients with Duchenne muscular dystrophy (DMD) who are amenable to exon 45 skipping. The company maintains a strong financial position with more cash than debt on its balance sheet, providing runway for its clinical development programs.
The study, which is also authorized by the United Kingdom’s Medicines and Healthcare Products Regulatory Agency and Research Ethics Committee, is designed to evaluate the safety, tolerability, and effectiveness of ENTR-601-45. It will involve roughly 24 ambulatory DMD patients, with dosing every six weeks across three cohorts ranging from 5mg/kg to 15mg/kg.
Entrada plans to begin the ELEVATE-45-201 study in the third quarter of 2025. Additionally, the company intends to submit global regulatory applications for other exon-skipping candidates, ENTR-601-50 in the second half of 2025 and ENTR-601-51 in 2026. While InvestingPro analysis indicates the company is rapidly burning through cash, its current ratio of 21.88 suggests strong short-term liquidity to support these development initiatives. Get access to 10+ additional InvestingPro Tips and comprehensive financial metrics to make more informed investment decisions.
In other recent news, Entrada Therapeutics has received authorization from health authorities in several European Union countries to begin a Phase 1/2 clinical study for its Duchenne muscular dystrophy (DMD) treatment, ENTR-601-45. This trial, named ELEVATE-45-201, is set to commence in the third quarter of 2025 and aims to assess the drug’s safety, tolerability, and efficacy. The trial will enroll approximately 24 ambulatory patients and will be conducted in two parts, focusing first on safety and optimal dosing, then on efficacy and patient outcomes. This development follows the Medicines and Healthcare Products Regulatory Agency’s approval in the United Kingdom.
Analysts have weighed in on Entrada’s recent progress. H.C. Wainwright maintained a Buy rating with a $20 price target, citing the potential of exon-skipping therapies as safer alternatives to gene therapies. William Blair reiterated an Outperform rating, highlighting the significance of ENTR-601-45 entering clinical studies. Oppenheimer also maintained an Outperform rating with a $30 target, emphasizing the regulatory milestones achieved by Entrada. Meanwhile, Roth/MKM affirmed a Buy rating with a $23 target, pointing out the strong preclinical data and positive Phase 1 human volunteer study results.
These developments are part of Entrada’s broader strategy to advance its pipeline of exon-skipping therapies for DMD, with a goal of progressing three DMD-focused products into clinical development by the end of 2025. The company is actively working to address the needs of patients with DMD, a genetic disorder characterized by progressive muscle degeneration. Investors and stakeholders are closely monitoring Entrada’s progress as it moves forward with its clinical trials and regulatory approvals.
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