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Fly News Breaks for October 24, 2019
Oct 24, 2019 | 12:31 EDT
Piper Jaffray analyst Tyler Van Buren says Rocket Pharmaceuticals today announced "incrementally positive" long-term follow-up data from four Fanconi anemia patients treated with RP-L102 using the first generation Process A. Most importantly, the updated data provide long-term evidence of "increasing and durable" engraftment and stabilization in blood counts in the absence of cytotoxic conditioning, Van Buren tells investors in a research note. The analyst believes RP-L102 is "looking more and more like a complete replacement for sub-optimal HSCT." RP-L102 appears to be the first therapy to have long-term, disease modifying potential in Fanconi anemia patients and could achieve ~$500M in peak sales, according to Van Buren. He reiterates an Overweight rating on the shares with a $35 price target.