JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
On Thursday, Raymond (NS:RYMD) James upgraded NervGen Pharma Corp (NGEN:CN) stock rating from Market Perform to Outperform, simultaneously raising the price target to Cdn$4.50 from the previous Cdn$3.00. The upgrade follows the completion of patient enrollment for the chronic cohort of NervGen's Phase 1b/2a clinical trial of NVG-291 in individuals with spinal cord injury (SCI).
The research firm acknowledged the significance of the last patient being dosed, marking the start of the countdown towards an interim data readout from the trial. Topline data are anticipated to be released during the second quarter of 2025, approximately 22 weeks following the dosing of the last patient, which is expected around late June.
The analysts at Raymond James highlighted the potential impact of the trial's results, particularly if they show functional improvements in SCI patients. Such an outcome would mark a first in the field, providing a much-needed therapeutic option for the approximately 300,000 Americans living with SCI, with around 18,000 new cases each year in the United States alone.
The completion of this enrollment phase is viewed as a critical advancement for NervGen and its leading drug program. The company's efforts are closely watched as they aim to address the unmet medical needs of a significant population with few available treatments.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.