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Investing.com - Tiziana Life Sciences (NASDAQ:TLSA) received a Buy rating from Lucid (NASDAQ:LCID) Capital Markets on Tuesday, with analyst Elemer Piros setting an $8.00 price target for the biotech company. The stock, which has surged over 103% in the past six months and currently trades at $1.62, aligns with the broader analyst consensus of Strong Buy according to InvestingPro data.
The rating is based on Tiziana’s development of intranasal foralumab, an antibody targeting central nervous system conditions. With a market capitalization of $180.57 million and an overall Financial Health score of "Fair" from InvestingPro, the company is positioning itself for growth. Lucid Capital Markets suggests the drug could potentially achieve success similar to AbbVie (NYSE:ABBV)’s Humira, which reached peak sales exceeding $20 billion across nine inflammatory conditions.
In a 10-patient trial for non-active Secondary Progressive Multiple Sclerosis (SPMS), intranasal foralumab halted disability progression over six months, with three of four patients showing improvement at the 12-month mark. PET imaging revealed significant reductions in microglial activation, while MRI scans detected no new lesions.
Tiziana has expanded its clinical program to include randomized, placebo-controlled trials for foralumab in Alzheimer’s disease and ALS, in addition to multiple sclerosis. The development timeline for ALS could potentially progress faster than other indications, according to the research note.
Lucid Capital Markets projects blockbuster potential for the drug, estimating an $85,000 annual price point if approved. With potential U.S. approval by 2029 and European launch in 2030, the firm forecasts the drug could reach $1.6 billion in U.S. sales and $1 billion across five European markets, capturing up to 50% market share. For deeper insights into Tiziana’s valuation metrics and additional financial analysis, including 8 more key ProTips, visit InvestingPro.
In other recent news, Tiziana Life Sciences Ltd. announced promising results from its Alzheimer’s treatment using intranasal foralumab. The treatment led to a significant reduction in neuroinflammation in an Alzheimer’s patient, as evidenced by a PET scan showing decreased microglial activation. These findings were presented at the AD/PD Conference in Vienna and are set to be published in Clinical Nuclear Medicine. Dr. Howard Weiner and Dr. Tarun Singhal, key figures in the study, noted the absence of side effects and called for further research into moderate Alzheimer’s disease. The treatment mechanism involves inducing T regulatory cells that travel to the brain, confirmed in both animal models and patients with secondary progressive multiple sclerosis. Tiziana’s CEO, Dr. Ivor Elrifi, emphasized the potential of foralumab as a standalone or combination therapy for Alzheimer’s. The company’s innovative nasal delivery method is patented, with several applications pending. These developments are particularly significant given the global impact of Alzheimer’s, affecting over 50 million people worldwide.
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