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Investing.com - Leerink Partners initiated coverage on Contineum Therapeutics (NASDAQ:CTNM) with an Outperform rating and a $20.00 price target on Thursday. The stock, currently trading at $10.50, has seen a 33% gain over the past six months despite recent volatility. According to InvestingPro data, analysts’ price targets range from $16 to $29.
The research firm highlighted Contineum’s approach to idiopathic pulmonary fibrosis (IPF) treatment, noting that the disease "might no longer be a drug development graveyard" following two Phase 3 successes in the past year.
Leerink expressed optimism about Contineum’s "fast-follower approach" to LPA1R antagonist development, positioning the company behind Bristol Myers Squibb’s admilparant, which is currently advancing through Phase 3 trials with data expected in the second half of 2026.
The firm believes Bristol Myers Squibb’s treatment will likely become first-in-class, while Contineum’s PIPE-791 could emerge as the best-in-class program due to its improved pharmacology.
Contineum Therapeutics is developing novel treatments for fibrotic and inflammatory diseases, with its lead candidate targeting idiopathic pulmonary fibrosis, a progressive lung disease.
In other recent news, Contineum Therapeutics has announced a delay in reporting topline data from its Phase 1b trial of PIPE-791. The company, which has completed the enrollment of healthy volunteers and progressive multiple sclerosis (PrMS) patients, now expects to release this data in the third quarter of 2025. This postponement follows the inclusion of two additional PrMS patients in June to assess PET imaging of the brain, in line with the trial protocol. The company has confirmed the completion of enrollment for both healthy volunteer and PrMS cohorts in the trial. These developments highlight Contineum’s ongoing efforts in its clinical trials, despite the delay.
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