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Macquarie initiated coverage on Neuren Pharmaceuticals Ltd (ASX:NEU) with an outperform rating and a price target of AUD18.60, according to a research note released Wednesday.
The firm highlighted Neuren’s partnership with Acadia as a key advantage, noting the arrangement covers all commercialization costs for DAYBUE while allowing Neuren to receive 10-15% royalty and significant milestone payments with minimal expenses.
Macquarie pointed to imminent expansion opportunities for DAYBUE, with Acadia anticipating European Medicines Agency approval in the first quarter of 2026, which would trigger additional royalty and milestone payments.
The research note emphasized Neuren’s pipeline product, NNZ-2591, which has potential applications across multiple neurodegenerative conditions with a patient population more than five times that of Rett syndrome.
Macquarie noted that by independently completing the phase 3 Phelan-McDermid trial, Neuren retains all commercialization benefits if the treatment receives regulatory approval.
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