The Life Sciences Report

Biopharma Advances High-Impact, First-of-Its-Kind Neuroreparative Drug

Tue, 28 Apr 2026 00:00:00 PST

Source: Streetwise Reports 04/28/2026

NervGen Pharma Corp. (NGEN:TSX.V; NGENF:OTCQX) drug produced sustained neurologic and functional gains in chronic tetraplegia, positioning it for pivotal Phase 3 development.

NervGen Pharma Corp. (NGEN:TSX.V; NGENF:OTCQX) announced the company's successful End-of-Phase 2 meeting for RESTORE — the Phase 3 study of NVG-291, its new drug for chronic tetraplegia.

Adam Rogers, MD, CEO, and President of NervGen, said in the release, "We are grateful for the continued and collaborative partnership with the FDA. RESTORE's design, anchored by the strength and totality of the CONNECT SCI data, was shaped in close collaboration with the FDA, the SCI community, key opinion leaders, and advocates, to ensure the clinical data and outcomes generated reflect what matters most to the individuals it's designed to serve. We are working tirelessly and advancing with urgency to continue developing a potentially life-changing therapy for individuals with chronic tetraplegia."

Rogers went on to say, "I have spent over 30 years working to advance treatments for SCI, and the progress we are witnessing with NVG-291 represents the most compelling clinical evidence for a pharmacologic treatment to date in chronic tetraplegia," said Armin Curt, MD, Clinical Director of the Accelerated Translational Program at Wings for Life, a global nonprofit research foundation with the mission to find a cure for SCI. "Wings for Life supported CONNECT SCI because we believed in NVG-291, and the data validated that belief. RESTORE's registrational trial design, including the use of GRASSP Quantitative Prehension as a functional primary endpoint uniquely designed to capture change in the highest priority domain in tetraplegia, represents what we believe will be the future for clinical trial design in SCI. Paired with secondary measures and blinded qualitative interviews that convey both the participant and clinician perspectives on independence and quality of life, this design reflects the rigor and depth the SCI community deserves. This is a tangible step toward making the first pharmacologic treatment for chronic tetraplegia a reality."

Results of Phase 1/Phase 2 studies are as follows and support the viability of a Phase 3 study:

Primary Endpoint Selection (GRASSP QtP): A mean improvement of +3.7 points at Week 12 in NVG-291-treated subjects versus +0.4 points for placebo-treated subjects (+3.3-point treatment difference), exceeding the 2.0-point minimally important difference.
Sustained Treatment Effect at Week 16: Continued improvement in GRASSP QtP to +4.4 points for NVG-291-treated subjects versus +1.2 points for placebo-treated subjects, demonstrating a sustained treatment effect at Week 16, four weeks after treatment cessation.
Clinical Meaningfulness (PGIC): 75% (6/8) of NVG-291-treated subjects reported being "much" or "very much" improved (≥6/7 PGIC score) versus 33% (3/9) of placebo-treated subjects, reinforcing the relevance of observed functional gains.
Real-World Impact: Blinded qualitative interviews conducted up to 364 days post-study contextualized systemic improvements, including 67% (6/9) of NVG-291-treated subjects reporting improved bladder control and 56% (5/9) reporting reduced muscle spasticity.
Dosing Regimen and Safety: Favorable safety and tolerability across 12 weeks of daily subcutaneous dosing of NVG-291, with no treatment-related serious adverse events or treatment discontinuation.

The company plans to apply FDA regulatory alignment and framework to future registrational-quality studies in subacute tetraplegia.

NervGen also participated in H.C. Wainwright & Co.'s "HCW@Home" series on April 15, 2026, and the Bloom Burton & Co. Healthcare Investor Conference on April 22, 2026.

NervGen Pharma Corp. is a Canadian clinical-stage biopharmaceutical company focused on developing the first neuroreparative therapeutics for spinal cord injury (SCI) and other neurotraumatic and neurologic conditions.

Investing in R&D in 2026

Neurorestorative therapies aim to repair and regenerate neural tissue after traumatic injuries, enacting ". . . a shift from simply protecting the brain to actively helping it heal."

Pharma sector funding fell between 2024 and 2025, according to a March 26, 2026, article for Fierce Biotech by Nick Paul Taylor. He wrote that pharma funding had fallen from 2024 but noted that, "2025 was still the third-best year of the past decade. Similarly, overall funding was well above the pre-pandemic norm and only topped by 2020, 2021, and 2024."

At the same time, J. Edward Moreno of Sherwood News reported contradictory news on January 14, 2026, writing that, "In 2025, announced global biotech deals totaled US$228.4 billion, up from US$132.3 billion in 2024, data from Dealogic shows . . . Just two weeks into 2026, US$9.2 billion in deals have been announced."

According to Moreno, movement is expected in the sector: "As some of the most lucrative drugs lose exclusivity in the next few years, pharmaceutical giants are increasingly shopping around for biotechs to add to their portfolios — and they are more than happy to pay a hefty premium for the right company . . . For some Big Pharma companies, business development spending is now about equal to, or more than, research and development."

This statement could explain the emerging drop in research and development spending at biotech and pharma companies. On March 25, 2026, BioSpace's Annalee Armstrong reported that, "R&D spending at the top 16 pharmaceutical companies declined by 3.6% overall in 2025, as many aggressively cut spending and refocused pipelines."

'Market is Ignoring Huge Upside,' says Chen Lin

According to Factset:

On April 27, 2026, Raghuram Selvaraju of H.C. Wainwright & Co. gave the company a 'Buy' rating, with a target price of CA$18.
On April 24, 2026, Andre Uddin of Research Capital Corporation gave the company a 'Buy' rating, with a price target of CA$5.50.
On April 23, 2026, Justin Keywood of Stifel Canada gave the company a 'Buy' rating with a price target of CA$6.
On April 14, 2026, Scott McAuley of Paradigm Capital Inc. gave the company a 'Buy' rating, with a price target of CA$8.20.
On April 13, 2026, Elemer Piros of Lucid Capital Markets gave the company a 'Buy' rating, with a price target of CA$18.
On April 9, 2026, Michael Okunewitch of Maxim Group gave the company a 'Buy' rating, with a price target of CA$12.
On April 6, 2026, Michael W. Freeman of Raymond James gave the company an 'Overweight' rating of CA$7.

On April 27, 2026, Chen Lin of What is Chen Buying? What is Chen Selling? gave a quote on NervGen: "NGEN got an initial buy recommendation from HCW today with a target price of CA$18. There is a huge upside if Phase 3 is successful. Of course, they need to raise ~CA$50 million to finish it, but the market is ignoring the huge upside."

Phase 3 Study in Pipeline

The company plans to begin the RESTORE Phase 3 registrational study mid-2026. Design and guidelines for Phase 3 will be as follows: [OWNERSHIP_CHART-10026]

Study Design: Randomized, double-blind, placebo-controlled; approximately 150 subjects.
Population Characteristics: Adults aged 18-75 with chronic tetraplegia due to traumatic SCI (≥C7; ASIA Impairment Scale C or D), 1-10 years post-injury.
Study Sites: Up to 60 sites across the United States and Canada.
Dosing Regimen: Daily subcutaneous injections of NVG-291 for 12 weeks, followed by a 4-week observational period.
Primary Endpoint: Change from baseline to Week 12 in GRASSP Quantitative Prehension (QtP), a validated measure of functional hand use.
Key Secondary Endpoints: PGIC, CGIC, Spinal Cord Independence Measure, Version-III (SCIM-III), and lower extremity spasticity, as measured by the Modified Ashworth Scale.
Qualitative Assessments: Blinded qualitative interviews will be conducted when exiting the 16-week study period to contextualize the clinical meaningfulness and real-world impact of NVG-291.
Open-Label Extension (OLE): An optional 12-week OLE will follow the main study, providing access to NVG-291 for all placebo-randomized subjects.

Ownership & Share Information¹

NervGen Pharma Corp. has a market cap of US$310.07 million, with 80.54 million shares outstanding. The company's 52-week range is US$1.50-US$6.30.

Institutions own 0.18% of shares, while Management & Insiders own 2.51%.

Strategic Investors own 18.42%, and the remaining shares are held by Retail.

Important Disclosures:

Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

For additional disclosures, please click here.

1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

( Companies Mentioned: NGEN:TSX.V; NGENF:OTCQX, )

New York Healthcare Technology Co. Discovers Scalable Behavioral Health Breakthrough

Tue, 28 Apr 2026 00:00:00 PST

Source: Streetwise Reports 04/28/2026

DarioHealth Corp.'s (DRIO:NASDAQ) study showed measurable workplace productivity and cognitive function improvements in 1,254 users within weeks, boosting growth potential.

On April 20, 2026, DarioHealth Corp. (DRIO:NASDAQ) announced the publication of a study demonstrating improved workplace function and productivity due to its digital behavioral health program. The real-world study, peer-reviewed and published in JMIR Formative Research, is titled "Enhancing Workplace Outcomes Through Digital Behavioral Health Programs: Retrospective Real–World Study" and was authored by Inbar Breuer Asher, David L. Horwitz, Omar Manejwala, and Yifat Fundoiano-Herschovitz and follows 1,254 users dealing with concentration difficulties in the workplace. The digital health platform integrates behavioral health with cardiometabolic support, addressing issues such as diabetes, hypertension, weight management, musculoskeletal issues, and behavioral health struggles.

The study claims that significant improvements appeared within the first six weeks, with even better efficacy by week 10, and found comparable results for procrastination and work-based mistakes.

Yifat Hershcovitz, Ph.D., and Vice President of Clinical and Scientific Affairs at DarioHealth, said in the release, "These findings further validate Dario's approach of combining behavioral science, data-driven insights, and continuous engagement to help people develop sustainable habits that improve everyday functioning and health outcomes."

DarioHealth Corp. is an American digital health company headquartered in New York City. The company is focused on helping people manage health during chronic illness via its digital health platform. In partnerships with other companies, DarioHealth also works in the GLP-1, fall prevention, sleep apnea, maternal health, and direct care sectors.

The Psychosocial & Work-Related Illness Sector

"A growing occupational epidemiology literature, including many prospective cohort studies, has investigated the role of psychosocial work stressors on mental health problems and chronic physical illnesses (e.g., CVD and CVD-related risks) in working populations. Work stressors have also been shown to affect chronic illnesses indirectly by influencing health behaviors, including leisure time physical activity, smoking, and alcohol consumption, all of which are considered risk factors for obesity, diabetes, and heart disease," according to a report by Marnie Dobson, Peter Snall, Ellen Rosskam, and Paul Landsbergis. The authors went on to say that ". . . 5-8% of health-care costs in the USA could be attributed to workplace stressors" and that ". . . around 20–40% of all sickness absence can be explained by psychosocial factors."

A report by Bruce Y. Lee, MD and MBA, Professor of Health Policy and Management at CUNY Graduate School of Public Health and Health Policy asserted that, "Employee disengagement, overextension, ineffectiveness, and burnout over the course 64 of one year costs an employer an average of US$3,999 (95% range: US$3,958-US$4,299) for an average 65 U.S. non-managerial hourly employee, an average of US$4,257 (95% range: US$4,215-US$4,299) for an 66 average non-managerial salaried employee, US$10,824 (95% range: US$10,700-US$10,948) for an 67 average manager, and US$20,683 (95% range: US$20,451-US$20,915) for an average executive."

According to DarioHealth's news release, "For employers, the stakes [of behavioral issues in the workplace are significant: illness-related lost productivity — including absenteeism and reduced on-the-job performance (i.e., presenteeism) — costs U.S. employers an estimated US$575 billion annually. This highlights the need for scalable solutions like Dario that help employees manage health challenges while maintaining daily functioning at work."

New Research Swaying Analysts

According to FactSet:

On March 19, 2026, CG Capital gave DarioHealth a 'Buy' rating, with a US$28 target price.
On March 19, 2026, Sifel Nicolaus analyst David Grossman gave DarioHealth a 'Buy' rating, with a US$10 target price.
On April 9, 2026, TD Cowen analyst Charles Rhyee gave DarioHealth a 'Hold' rating, with a US$11 target price.

On April 27, 2026, Ashok Kumar, Ph.D. and CFA, wrote a research report on DarioHealth for Think Equity.

Kumar gave the company a 'Buy' rating, with a price target of US$25, writing, "Our variant view is narrow. We do not assume a dramatic breakout, explicit takeout value, or unsupported AI monetization. We assume partial conversion of disclosed commercial activity, continued mix improvement, and cost discipline . . . The shares remain speculative, but the reported facts support BUY and the unchanged US$25.00 target. That is the right balance for a still-funding-dependent small-cap platform today."

[OWNERSHIP_CHART-9981]

Investors are Intrigued

DarioHealth's investor presentation lists new contracts and expanding market access as catalysts for investment. The company states that 70% of new contracts are multi-condition, which allows vendors to consolidate programs for better ROI and savings.

The company also claims a US$122 million pipeline of commercial opportunities, which it says is accelerating sales and enabling rapid onboarding of large employers and health plans.

Ownership & Share Information¹

DarioHealth Corp. has a market cap of US$54.17 million, with 7.30 million shares outstanding.

The company's 52-week range is US$5.94-US$17.74.

Institutions own 10.53% of shares, while Strategic Investors own 9.88%.

Management & Insiders own 11.24% of shares, and the remaining 68.35% of shares are held by Retail.

Important Disclosures:

Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

For additional disclosures, please click here.

1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

( Companies Mentioned: DRIO:NASDAQ, )

California Biopharma Co. Uncovers Massive Oncology Breakthrough

Tue, 28 Apr 2026 00:00:00 PST

Source: Streetwise Reports 04/28/2026

Nurix Therapeutics Inc. (NRIX:NASDAQ) new cancer pipeline data highlights powerful targeted protein degradation advances, with analysts projecting 92% upside potential.

Nurix Therapeutics Inc. (NRIX:NASDAQ) announced new preclinical data across its oncology pipeline on April 22, 2026. The oncology programs were presented at the American Association for Cancer Research's (AACR) 2026 annual meeting, and the presentation highlighted programs targeting pan-mutant BRAF, CBL-B, and Aurora Kinase A (AURKA). Nurix also featured a session presentation on the broader scientific progress and clinical translation of targeted protein degradation. The company hopes to offer a way to address limitations to current treatment methods, such as resistance, incomplete pathway suppression, and inability to target non-enzymatic protein functions.

"These data, together with our participation in the AACR Advances session, highlight the growing clinical and scientific validation of targeted protein degradation as a new therapeutic modality," said Arthur T. Sands, M.D., Ph.D., president and CEO of Nurix. "Across multiple programs, we are seeing consistent evidence that these therapies can drive deeper and more durable biological responses, supporting their potential to deliver meaningful benefit for patients."

The company's drugs in development include:

NRX-0305: NRX-0305 is a potent, selective, and orally bioavailable central nervous system (CNS)-penetrant pan-mutant BRAF degrader that Nurix is exploring for use in oncology. Nurix has reported preclinical data demonstrating potent anti-tumor activity in multiple cell line-derived and patient-derived xenograft disease models representing Class 1, Class 2, and Class 3 B-RAF mutations. Anti-tumor activity was also observed in the setting of CNS disease and treatment resistance, suggesting the potential for utility across a broad range of solid tumor types.
NX-1607: NX-1607 is an investigational first-in-class oral inhibitor of the E3 ligase Casitas B-lineage lymphoma proto-oncogene B (CBL-B) being developed for immuno-oncology indications, including a range of solid tumor types. CBL-B is a cytoplasmic E3 ubiquitin ligase that negatively regulates T cell activation, making it an attractive target for immuno-oncology and offering a novel therapeutic approach to treat solid tumors. Inhibition of CBL-B in preclinical studies reverses T cell exhaustion, alleviates tumor-induced immunosuppression, and may also exert direct antitumor effects. Nurix is evaluating NX-1607 in an ongoing Phase 1 trial in adults in a range of oncology indications. This study includes a thorough investigation of both dose and schedule in the Phase 1a portion.
NRX-4972: NRX-4972 is a CNS-penetrant, orally bioavailable, and highly selective degrader of Aurora A kinase (AURKA). AURKA is an oncogene frequently overexpressed in adult solid tumors, hematologic malignancies, and pediatric cancers. Several AURKA inhibitors are effective in preclinical tumor models, but this activity has failed to translate into clinical efficacy. To address the limitations of inhibitors, Nurix has designed bifunctional targeted protein degraders of AURKA that enable the removal of both enzymatic and scaffolding functions.

Nurix reported new data demonstrating that NRX-4972's targeted degradation of AURKA enables more complete biological modulation compared to inhibition alone.

Nurix Therapeutics, Inc. is an American biopharmaceutical company dedicated to the discovery, development, and commercialization of targeted protein degradation medicines, a drug design aimed at improving treatments for patients with cancer and autoimmune diseases.

The Pharma Sector in Development

In a March 26, 2026, article for Fierce Biotech, Nick Paul Taylor wrote that pharma funding had fallen from 2024 but noted that, "2025 was still the third-best year of the past decade. Similarly, overall funding was well above the pre-pandemic norm and only topped by 2020, 2021, and 2024."

In contrast, J. Edward Moreno of Sherwood News reported on January 14, 2026, that, "In 2025, announced global biotech deals totaled US$228.4 billion, up from US$132.3 billion in 2024, data from Dealogic shows . . . Just two weeks into 2026, US$9.2 billion in deals have been announced."

Moreno went on to add that movement is expected in the sector: "As some of the most lucrative drugs lose exclusivity in the next few years, pharmaceutical giants are increasingly shopping around for biotechs to add to their portfolios — and they are more than happy to pay a hefty premium for the right company . . . For some Big Pharma companies, business development spending is now about equal to, or more than, research and development."

Moreno's statement could explain the drop investors are beginning to see in research and development spending at biotech and pharma companies. On March 25, 2026, BioSpace's Annalee Armstrong reported that, "R&D spending at the top 16 pharmaceutical companies declined by 3.6% overall in 2025, as many aggressively cut spending and refocused pipelines."

Many Analysts Give 'Buy' Rating

According to Factset:

On April 22, 2026, Gil Blum of Needham gave the company a 'Buy' rating, with a price target of US$26.00.
Also on April 22, 2026, Jeet Mukherjee of BTIG gave the company a 'Buy' rating, with a price target of US$30.00.
On April 21, 2026, Biren Amin of Piper Sandler Companies gave the company a 'Buy' rating, with a price target of US$35.00.
On April 9, 2026, Biran Abrahams of RBC Capital Markets gave the company a 'Buy' rating, with a price target of US$30.00.
On April 9, 2026, Christopher Liu of Lucid Capital Markets gave the company a 'Buy' rating, with a price target of US$27.00.
On April 8, 2026, Sudan Loganathan of Stephens Inc. gave the company a 'Buy' rating, with a price target of US$30.00.
On April 8, 2026, Matthew Biegler of Oppenheimer gave the company a 'Buy' rating, with a price target of US$28.00.
On April 8, 2026, Roger Song of Jeffries gave the company a 'Buy' rating, with a price target of US$41.00.
On April 8, 2026, Stephen D. Willey of Stifel Nicolaus gave the company a 'Buy' rating, with a price target of US$34.00.
On April 8, 2026, Derek Archila of Wells Fargo Securities gave the company a 'Buy' rating, with a price target of US$28.00.
On April 8, 2026, Gregory Renza of Trust Securities gave the company a 'Buy' rating, with a price target of US$30.00.
On April 8, 2026, Joseph Catanzaro of Mizuho Securities USA gave the company a 'Buy' rating, with a price target of US$30.00.

On April 24, 2026, analysts Robert Burns and Raghuram Selvaraju, Ph.D. for H.C. Wainwright & Co. reiterated their previous 'Buy' rating for Nurix and unchanged price target of US$32.00. That number represents a 92% upside from its closing price on April 24, 2026. This reiteration comes after the company's recent presentation at the American Association for Cancer Research's conference. [OWNERSHIP_CHART-10504]

The analysts stated that the "... US$32.00 price target is derived from a discounted cash flow (DCF) model employing a 10% discount rate and 1.5% terminal growth rate, with a 60% probability of approval applied to NX-2127 and NX-5948, and 20% applied to NX-1607. These assumptions yield a total firm value of approximately US$3.55 billion.

Key risks include negative clinical proof-of-concept results for NX-2127, NX-5948, or NX-1607; delays in regulatory approval; weaker-than-expected commercial uptake; partnership risk if Nurix pursues a co-promotion or co-development arrangement; and medium- to long-term dilution risk."

Another Drug in the Pipeline

The company's investor presentation lists upcoming catalysts, such as completing dose escalation of its new NX-2127 drug and selecting recommended Phase 1b doses for selected indications.

Ownership & Share Information¹

Nurix Therapeutics Inc. has a market cap of US$1.72 billion, with 103.41 million shares outstanding.

The company's 52-week range is US$8.20-US$22.50.

Institutions own most of the shares at around 60%.

Management and insiders hold around 0.3%.

The rest is held by Retail.

Important Disclosures:

Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

For additional disclosures, please click here.

1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

( Companies Mentioned: NRIX:NASDAQ, )

Brisbane Biotech Showcases Degrader Pipeline Advantages at AACR

Mon, 27 Apr 2026 00:00:00 PST

Source: Robert Burns 04/27/2026

Nurix Therapeutics (NASDAQ: NRIX) recently showcased AACR presentations that highlighted the mechanistic superiority of the company's protein degrader platform and preclinical data across key pipeline assets, NX-1607, NRX-4972.

On April 27, 2026, H.C. Wainwright & Co. analysts Robert Burns and Raghuram Selvaraju, Ph.D., reiterated their Buy rating and unchanged US$32.00 price target on Nurix Therapeutics Inc. (NRIX:NASDAQ), implying approximately 92% upside from the April 24, 2026 closing price of US$16.68, following the company's presentations at the recent American Association for Cancer Research (AACR) conference where Nurix showcased the breadth of its pipeline and highlighted the mechanistic advantages of its protein degrader platform.

Degraders vs. Inhibitors: A Platform Advantage

At AACR, Nurix Chief Scientific Officer Gwenn Hansen, Ph.D., delivered an oral presentation outlining the core differentiation of protein degraders relative to conventional inhibitors. Key points included that inhibitors suppress enzymatic activity while leaving structural and scaffolding functions of a target protein intact, whereas degraders eliminate the entire protein — removing both enzymatic and non-enzymatic functions for a more complete pathway blockade.

Degraders also retain efficacy against resistance mutations that render inhibitors ineffective, including kinase-dead mutations. Additionally, once a degrader catalyzes the breakdown of an initial target protein, it can re-bind to other target proteins and induce further ubiquitination, gradually lowering overall target protein levels and allowing therapeutic effects to accumulate over time.

This mechanism supports the use of lower doses compared to inhibitors, with the potential for longer-lasting, more robust responses and improved safety. The analysts also noted that degraders do not require a well-defined binding pocket and can engage the protein-protein interface between a target and an E3 ligase — enabling recruitment of transcription factors, splicing factors, and scaffolding proteins that are otherwise inaccessible. This effectively expands the druggable universe, given that approximately 85% of the proteome is considered undruggable by conventional small-molecule drugs.

Preclinical Pipeline Highlights

Nurix presented multiple preclinical datasets at AACR across three key programs.

NX-1607 (CBL-B intramolecular glue inhibitor): An oral presentation covered the discovery and characterization of NX-1607, which demonstrated robust anti-tumor activity across multiple syngeneic tumor models and synergized with anti-PD-1 therapy. On the competitive front, Insilico Medicine (OTC: ISLMF; not rated) presented data for its CBL-B inhibitor ISM3830, which carries a higher in vitro IC50 than NX-1607 (30 nM vs. 2.7 nM), though it is slightly more selective for CBL-B versus CBL-C (4x vs. 3.2x). While ISM3830 at 30 mg/kg showed stronger single-agent anti-tumor activity than NX-1607 at the same dose in a MC38 syngeneic mouse model, the combination of each agent with anti-PD-1 appeared to produce comparable efficacy.

NRX-4972 (Aurora kinase A degrader): A poster presentation demonstrated that degradation of Aurora kinase A (AURKA) via NRX-4972 achieves superior anti-tumor efficacy in vivo relative to the AURKA inhibitors alisertib and LY3295668. NRX-4972 also showed broader and more potent synergy than an AURKA inhibitor in an in vitro combination screening.

NRX-0305 (CNS-penetrant pan-mutant BRAF degrader): Two posters highlighted NRX-0305's superior efficacy compared to BRAF inhibitors across multiple Class 1, 2, and 3 BRAF-positive CDX and PDX models. Combination studies with a MEK or EGFR inhibitor showed enhanced anti-tumor activity relative to either agent alone.

Financial Overview

Nurix reported Q1 2026 (fiscal year ending November 30) revenue of US$6.3 million, below the prior-year comparable of US$18.5 million, reflecting the variability inherent in collaboration and licensing revenue.

Full-year 2026 revenue is estimated at US$51.3 million, down from US$84.0 million in fiscal 2025, which had benefited from a significant US$44.1 million collaboration payment in Q2. The company carries no debt and holds US$540.7 million in cash as of the most recent report (US$5.23 per share), providing a substantial operational runway.Full−year2026 net loss per diluted share is estimated at US$5.23 per diluted share is estimated at US$5.23 per share, providing a substantial operational runway.

$5.23 p ers ha re), p ro v i d in g a s u b s t an t ia l o p er a t i o na l r u n w a y . F u ll - ye a r 2026 n e t l oss p er d i l u t e d s ha re i s es t ima t e d a t U S$$ 3.08, compared to US$(3.05) in fiscal 2025. Research and development spending is projected to increase to US$352.0 million in 2026 from US$316.9 million in 2025, reflecting continued pipeline investment.

Valuation and Risks

The analysts' US$32.00 price target is derived from a discounted cash flow (DCF) model employing a 10% discount rate and 1.5% terminal growth rate, with a 60% probability of approval applied to NX-2127 and NX-5948, and 20% applied to NX-1607. These assumptions yield a total firm value of approximately US$3.55 billion.

Current price: US$16.68 (as of April 24, 2026) Price target: US$32.00 Implied upside: ~92% Rating: Buy

Important Disclosures:

This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

For additional disclosures, please click here.

Disclosures for H.C. Wainwright & Co., Nurix Therapeutics Inc., April 27, 2026

This material is confidential and intended for use by Institutional Accounts as defined in FINRA Rule 4512(c). It may also be privileged or otherwise protected by work product immunity or other legal rules. If you have received it by mistake, please let us know by e-mail reply to unsubscribe@hcwresearch.com and delete it from your system; you may not copy this message or disclose its contents to anyone. The integrity and security of this message cannot be guaranteed on the Internet. H.C. WAINWRIGHT & CO, LLC RATING SYSTEM: H.C. Wainwright employs a three tier rating system for evaluating both the potential return and risk associated with owning common equity shares of rated firms. The expected return of any given equity is measured on a RELATIVE basis of other companies in the same sector. The price objective is calculated to estimate the potential movements in price that a given equity could reach provided certain targets are met over a defined time horizon. Price objectives are subject to external factors including industry events and market volatility. RETURN ASSESSMENT Market Outperform (Buy): The common stock of the company is expected to outperform a passive index comprised of all the common stock of companies within the same sector. Market Perform (Neutral): The common stock of the company is expected to mimic the performance of a passive index comprised of all the common stock of companies within the same sector. Market Underperform (Sell): The common stock of the company is expected to underperform a passive index comprised of all the common stock of companies within the same sector. Rating and Price Target History for: Nurix Therapeutics, Inc. (NRIX-US) as of 04-24-2026 30 25 20 15 10 5 0 Q1 Q2 Q3 2024 Q1 Q2 Q3 2025 Q1 Q2 Q3 2026 Q1 Q2 BUY:$53.00 10/07/22 BUY:$33.00 07/24/23 BUY:$35.00 09/08/23 BUY:$19.00 02/20/24 BUY:$26.00 06/18/24 BUY:$30.00 10/21/24 BUY:$35.00 12/11/24 BUY:$36.00 01/29/25 BUY:$34.00 07/14/25 BUY:$33.00 10/14/25 BUY:$28.00 10/28/25 BUY:$31.00 12/10/25 BUY:$32.00 01/29/26 Investment Banking Services include, but are not limited to, acting as a manager/co-manager in the underwriting or placement of securities, acting as financial advisor, and/or providing corporate finance or capital markets-related services to a company or one of its affiliates or subsidiaries within the past 12 months. Distribution of Ratings Table as of April 24, 2026 IB Service/Past 12 Months Ratings Count Percent Count Percent Buy 558 83.66% 164 29.39% Neutral 62 9.30% 10 16.13% Sell 2 0.30% 0 0.00% Under Review 45 6.75% 15 33.33% H.C. Wainwright & Co, LLC (the “Firm”) is a member of FINRA and SIPC and a registered U.S. Broker-Dealer. I, Robert Burns and Raghuram Selvaraju, Ph.D. , certify that 1) all of the views expressed in this report accurately reflect my personal views about any and all subject securities or issuers discussed; and 2) no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report; and 3) neither myself nor any members of my household is an officer, director or advisory board member of these companies. None of the research analysts or the research analyst’s household has a financial interest in the securities of Nurix Therapeutics, Inc. (including, without limitation, any option, right, warrant, future, long or short position). As of March 31, 2026 neither the Firm nor its affiliates beneficially own 1% or more of any class of common equity securities of Nurix Therapeutics, Inc..

Neither the research analyst nor the Firm knows or has reason to know of any other material conflict of interest at the time of publication of this research report. The research analyst principally responsible for preparation of the report does not receive compensation that is based upon any specific investment banking services or transaction but is compensated based on factors including total revenue and profitability of the Firm, a substantial portion of which is derived from investment banking services. The firm or its affiliates received compensation from Nurix Therapeutics, Inc. for non-investment banking services in the previous 12 months. The Firm or its affiliates did not receive compensation from Nurix Therapeutics, Inc. for investment banking services within twelve months before, but will seek compensation from the companies mentioned in this report for investment banking services within three months following publication of the research report. The Firm does not make a market in Nurix Therapeutics, Inc. as of the date of this research report. The securities of the company discussed in this report may be unsuitable for investors depending on their specific investment objectives and financial position. Past performance is no guarantee of future results. This report is offered for informational purposes only, and does not constitute an offer or solicitation to buy or sell any securities discussed herein in any jurisdiction where such would be prohibited. This research report is not intended to provide tax advice or to be used to provide tax advice to any person. Electronic versions of H.C. Wainwright & Co., LLC research reports are made available to all clients simultaneously. No part of this report may be reproduced in any form without the expressed permission of H.C. Wainwright & Co., LLC. Additional information available upon request. H.C. Wainwright & Co., LLC does not provide individually tailored investment advice in research reports. This research report is not intended to provide personal investment advice and it does not take into account the specific investment objectives, financial situation and the particular needs of any specific person. Investors should seek financial advice regarding the appropriateness of investing in financial instruments and implementing investment strategies discussed or recommended in this research report. H.C. Wainwright & Co., LLC’s and its affiliates’ salespeople, traders, and other professionals may provide oral or written market commentary or trading strategies that reflect opinions that are contrary to the opinions expressed in this research report. H.C. Wainwright & Co., LLC and its affiliates, officers, directors, and employees, excluding its analysts, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives (including options and warrants) thereof of covered companies referred to in this research report. The information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data on the company, industry or security discussed in the report. All opinions and estimates included in this report constitute the analyst’s judgment as of the date of this report and are subject to change without notice. Securities and other financial instruments discussed in this research report: may lose value; are not insured by the Federal Deposit Insurance Corporation; and are subject to investment risks, including possible loss of the principal amount invested.

( Companies Mentioned: NRIX:NASDAQ, )

AI-Designed Cancer Drug Shows In Vivo Results, Brain Penetration

Fri, 24 Apr 2026 00:00:00 PST

Source: Streetwise Reports 04/24/2026

Rakovina Therapeutics Inc. (RKV:TSX.V) reported new preclinical data across two oncology programs at the AACR Annual Meeting, including ATR-mTOR inhibitor efficacy and kt-3283 formulation progress.

Rakovina Therapeutics Inc. (RKV:TSX.V) reported the presentation of new preclinical data from two of its lead programs at the 2026 American Association for Cancer Research Annual Meeting, held April 17 to April 22 in San Diego, California. The data were presented across two poster sessions and relate to the company's pipeline targeting DNA damage response vulnerabilities in solid tumors.

The first poster outlined results from a program developing brain-penetrant dual ATR-mTOR inhibitors designed to target PTEN-deficient cancers. According to the company, candidate compounds demonstrated equal or greater inhibition of ATR and mTOR enzymes compared to reference compounds ceralasertib and tuvusertib, along with comparable or improved selectivity against PIKK family enzymes. The candidates also showed inhibition of cell viability in D283 medulloblastoma cells and demonstrated activity in both PTEN wild-type and PTEN-deficient cancer cell lines.

The company reported that candidate compounds exhibited metabolic stability after 45 minutes of incubation with human liver microsomes. Pharmacokinetic profiling in mice showed measurable central nervous system penetrance, with brain-to-plasma ratios consistent with AI predictions. In a subcutaneous prostate tumor model, a prototype lead candidate prolonged tumor doubling time compared to a vehicle control, with potency comparable to ceralasertib and reduced tolerability impacts, including less weight loss and no hematological toxicity observed at terminal analysis. The company stated that optimization of candidate inhibitors is ongoing.

The second poster presented data on a lipid nanoparticle formulation of the bifunctional PARP and HDAC inhibitor kt-3283. The company reported that the formulation, developed using an AI platform, demonstrated successful nanoparticle assembly with uniform particle size, stable colloidal behavior, and structured surface characteristics. These features were described as supporting further biological evaluation. The formulation was developed to address previously identified limitations in bioavailability and metabolic stability.

Rakovina stated that the next steps for the KT-3283 program include in vitro and in vivo characterization to confirm enzyme activity, determine ADME properties, and evaluate efficacy in tumor models.

"Presenting at AACR is a meaningful milestone for our team, and these results represent a genuine step forward for both programs," said Kim Oishi, Chief Executive Officer of Rakovina Therapeutics, in a company news release. "The in vivo efficacy data for our ATR-mTOR inhibitor are particularly encouraging."

Dr. Mads Daugaard, President and Chief Scientific Officer, added that "our candidate inhibitors are tracking closely with the AI predictions for potency, selectivity, and CNS penetrance and our in vivo results give confidence in the direction of this program."

The company stated that the data inform the next phase of preclinical development, with continued optimization for the ATR-mTOR program and further biological characterization planned for the kt-3283 formulation.

Precision Oncology and Cost Pressures Shape a Rapidly Expanding Therapeutics Market

According to an April 6 report from Fortune Business Insights, the global oncology drugs market was valued at US$256.46 billion in 2025 and was projected to grow to US$286.36 billion in 2026 and US$697.59 billion by 2034. The report stated that the market was driven by "a substantial cancer patients burden coupled with breakthrough product launches," along with earlier treatment initiation supported by advances in diagnostic technologies such as biomarker testing.

The report also identified targeted therapies as a central area of innovation, stating that "the targeted drugs segment is estimated to account for the largest oncology drugs market share," and noting that these therapies were "often at the forefront of innovative cancer treatments." It added that the market was "transitioning from the treatment of only metastatic disease to treating the earlier stages of the disease where cure is probable," reflecting a shift toward earlier intervention and expanded use of precision therapies.

Separately, a World Health Organization report released on April 20 highlighted the growing integration of artificial intelligence in healthcare systems, noting that “74% of countries in the bloc use AI tools in medical imaging, disease detection and to assist in clinical decision-making.” The report also stated that 63% of countries had implemented patient-facing chatbot services, reflecting broader adoption of AI across both clinical and support functions. The WHO emphasized that as these technologies become more embedded in care delivery, ensuring proper training and oversight remains critical, warning that without sufficient public engagement, AI-supported systems “may face resistance or rejection,” potentially affecting patient outcomes.

Black Book Research said in an April 23 release that oncology providers were restructuring care delivery around operational efficiency and treatment access, citing challenges such as referral-to-treatment delays, prior authorization backlogs, and fragmented data systems. Doug Brown, Founder of Black Book Research, said that "oncology leaders are no longer buying technology to digitize a department," adding that they were building systems designed to move patients "from referral to treatment with fewer delays, tighter payer coordination, better infusion readiness, and more usable diagnostic intelligence."

Advancement of Preclinical Programs and Development Milestones

According to the company's investor presentation, the ATR-mTOR inhibitor program included ongoing collaboration with Variational AI for optimization of initial lead compounds during 2026. The company reported that this work includes chemical synthesis and evaluation in its laboratories, along with continued data presentations at peer-reviewed scientific meetings. The presentation also noted that discussions with potential partner organizations are ongoing.

The same presentation outlined 2026 milestones for the ATR-mTOR program, including the presentation of in vivo model data at peer-reviewed meetings and the delivery of lead-optimization results from the expanded collaboration with Variational AI.

For the PARP1 inhibitor program, the company stated that select compounds identified through in silico screening have been synthesized and are undergoing evaluation. The investor presentation indicated that PARP activity and ADME data from these compounds will be used to further train the AI model for refinement and lead candidate selection. Planned 2026 milestones include receipt of output from further AI modeling and presentation of lead compound data at peer-reviewed scientific meetings. [OWNERSHIP_CHART-11193]

For the kt-3283 PARP/HDAC inhibitor program, the company reported that it has established a joint venture with NanoPalm Ltd. to develop a formulation aimed at improving in vivo delivery. The presentation noted that the collaboration combines the company's AI-enabled drug discovery platform with NanoPalm's lipid nanoparticle delivery system. The company also stated that the joint venture will seek non-dilutive funding.

Additional 2026 milestones for the KT-3283 program include pursuing partnerships with companies developing antibody drug conjugate payloads and presenting nano-lipid formulation data at peer-reviewed meetings.

Ownership and Share Structure¹

Edison Oncology holds approximately 12% of Rakovina Therapeutics. Management and reporting insiders account for about 4% ownership, with the remainder held by a combination of institutional, retail, and other investors, as previously disclosed in company materials.

Rakovina completed a 10-to-1 share consolidation in June 2025, with shareholders receiving one post-consolidation common share for every ten previously held.

As of April 2026, the company has approximately 21.15 million shares outstanding. Market capitalization is approximately CA$2.1 million to CA$2.7 million based on recent trading levels.

Over the past 52 weeks, Rakovina Therapeutics' share price has ranged between approximately CA$0.085 and CA$1.30.

Important Disclosures:

Rakovina Therapeutics Inc. has a consulting relationship with Street Smart an affiliate of Streetwise Reports. Street Smart Clients pay a monthly consulting fee between US$8,000 and US$20,000.
As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Rakovina Therapeutics Inc.
James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

( Companies Mentioned: RKV:TSX.V, )

Asceniv Growth, Margin Expansion, and Pipeline Optionality Drive Price Target

Thu, 23 Apr 2026 00:00:00 PST

Source: Gary Nachman 04/23/2026

Canaccord Genuity initiates coverage of ADMA Biologics Inc. (ADMA:NASDAQ), citing Asceniv's differentiated hyperimmune IVIG profile, accelerating margins from yield enhancement, and an underappreciated pipeline.

On April 20, 2026, Canaccord Genuity analyst Gary Nachman (with associate Denis Reznik) initiated coverage of ADMA Biologics Inc. (ADMA:NASDAQ), with a BUY rating and a price target of US$21.00, implying approximately 91% upside from the April 17 closing price of US$11.01.

The initiation reflects the view that recent stock weakness, driven by short-seller concerns, has created a favorable entry point, with the company's key growth drivers and strategic initiatives remaining broadly intact.

Recent Developments

ADMA's stock has pulled back significantly from its 52-week high of US$25.67, weighed down by a third-party short report that raised questions about revenue recognition, channel inventory levels, and true end-user demand for its flagship immunoglobulin product Asceniv. Management firmly rejected these claims as "unsubstantiated, misleading and inaccurate," providing supplemental distributor-level data to demonstrate that Asceniv demand has reached record levels and that inventory at distributors has been normalizing. As of March 22, 2026, Asceniv distributor inventory stood at approximately 90 days on hand (including safety stock), down from approximately 128 days at the start of the year. ADMA also highlighted clean audit opinions from KPMG for both FY2024 and FY2025 with no issues noted, and reiterated that all receivables are fully collectible with no bad debt on the books.

In early 2026, ADMA entered into a new authorized distribution agreement with McKesson Specialty, expected to open additional oncology-focused sites of care, improve billing efficiency, and reduce days sales outstanding (DSOs) — currently running at 104–105 days versus a normalized range of 75–90 days. The McKesson ramp is expected to have a more meaningful impact in the second half of 2026. Separately, ADMA executed a US$125 million accelerated share repurchase (ASR) in March 2026, receiving approximately 6.4 million shares upfront, with the remainder to be settled by Q3 2026.

Financial Results and Outlook

ADMA delivered 2025 revenue of US$510.2 million, representing approximately 20% year-over-year growth, with adjusted EBITDA of US$231.0 million (up approximately 40%) and adjusted net income of US$160.8 million (up approximately 35%). Asceniv was the primary growth driver, generating US$362.5 million in 2025 revenue — up 51% year-over-year — while the legacy Bivigam product contributed US$122.0 million.

Management has provided guidance for 2026 total revenue exceeding US$635 million (approximately 25% growth), adjusted EBITDA exceeding US$360 million (approximately 56% growth), and adjusted net income exceeding US$255 million (approximately 60% growth). For 2027, guidance targets revenue above US$775 million and adjusted EBITDA above US$445 million. Longer-term targets include total revenue exceeding US$1.1 billion and adjusted EBITDA exceeding US$700 million by 2029. Canaccord's own estimates sit modestly below management guidance — projecting 2026 revenue of US$622.1 million, adjusted EBITDA of US$347.4 million, and non-GAAP EPS of US$1.01 — reflecting conservatism while awaiting greater visibility on working capital normalization and demand trends.

A key margin driver in 2026 is the first full year of product sold under ADMA's FDA-approved yield enhancement process, which extracts more than 20% additional immunoglobulin output from the same starting plasma volume. This is expected to lift Asceniv gross margins into the high-80s to low-90s percentage range, while Bivigam margins improve from the high-teens to the low-to-mid-20s.

Investment Positives

Asceniv is manufactured from high-titer RSV plasma identified through a proprietary screening assay, giving it a differentiated antibody profile relative to standard pooled immunoglobulin therapies. It is specifically positioned as a second-line or later treatment for the more severe and complex primary immunodeficiency (PI) patients who are "surviving, not thriving" on conventional IG therapy. As of early 2026, ADMA has penetrated only approximately 4% of its targeted addressable market of approximately 25,000 complex and refractory PI patients, leaving substantial runway ahead. Clinical data supporting the product includes a retrospective study showing a statistically significant 50% or greater reduction in annual infection rates among patients switching to Asceniv, with 71% demonstrating clinical improvement within the first six months.

The company benefits from meaningful competitive moats: proprietary IP protecting Asceniv through at least 2035, a manufacturing process that others cannot easily replicate, no generic or biosimilar pathway for plasma-derived products, and an exemption from Medicare price negotiations under the Inflation Reduction Act. Roughly 100 of approximately 300 targeted clinical immunologists are now active Asceniv prescribers, with physician loyalty described as high given the product's clinical differentiation and reliable supply chain.

Beyond the core franchise, ADMA's pipeline candidate SG-001 — a hyperimmune immunoglobulin targeting Streptococcus pneumoniae — delivered promising preclinical animal data in 2025, with an IND filing planned for 2026 and potential clinical trial initiation in 2027. Management estimates SG-001 could represent US$300–500 million in peak annual revenue, with IP protection extending through 2037 and beyond. Importantly, this opportunity is entirely excluded from the company's existing long-term revenue guidance.

Risks and Challenges

Nachman identifies four key risks.

First, investor expectations have been reset higher following ADMA's long stretch of beat-and-raise quarters from 2023 through early 2025, and without a return to that pattern, the stock could trade in a range for some time.

Second, Asceniv's premium pricing — approximately 6–7x that of standard IG — could attract increasing payer scrutiny as volumes rise, particularly on the commercial insurance side.

Third, operational bottlenecks remain possible, including variability in the supply of high-titer RSV plasma (only approximately 5% of donors qualify), the need to expand physician prescribing beyond current early adopters, and ensuring appropriate patient identification.

Fourth, accounts receivable reached US$158.4 million at year-end 2025 (with DSOs at 104–105 days), and inventories stood at US$206.5 million — both elevated above historical norms and cited by the short report as evidence of potential channel stuffing, though management disputes this characterization and expects normalization through 2026.

Valuation

Canaccord's US$21 price target is derived primarily from a discounted cash flow analysis using a 10% discount rate and an 8x terminal EBITDA multiple on 2032 estimates, both of which the analyst describes as conservative relative to peers given the current period of heightened investor uncertainty. At the target price, ADMA would trade at approximately 21x 2026 estimated non-GAAP EPS and approximately 15x 2026 estimated EBITDA, or approximately 16x 2027 estimated EPS and approximately 11x 2027 estimated EBITDA. ADMA's projected compound annual growth rates of approximately 21% for revenue and approximately 32% for EBITDA through 2029 support the view that the current valuation is attractive for longer-term investors.

The near-term catalyst path centers primarily on quarterly earnings results and any updated guidance, with additional potential drivers including pediatric label approval for Asceniv expected in the first half of 2026, HEOR data presentations at upcoming medical congresses, and progress on the McKesson partnership's impact on DSOs and cash conversion. A pre-IND filing for SG-001 and further Asceniv post-marketing publications are viewed as incremental positives.

Important Disclosures:

This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

For additional disclosures, please click here.

Disclosures for Canaccord Genuity, ADMA Biologics, April 20, 2026

Analyst Certification Each authoring analyst of Canaccord Genuity whose name appears on the front page of this research hereby certifies that (i) the recommendations and opinions expressed in this research accurately reflect the authoring analyst’s personal, independent and objective views about any and all of the designated investments or relevant issuers discussed herein that are within such authoring analyst’s coverage universe and (ii) no part of the authoring analyst’s compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed by the authoring analyst in the research, and (iii) to the best of the authoring analyst’s knowledge, she/he is not in receipt of material non-public information about the issuer. Analysts employed outside the US are not registered as research analysts with FINRA. These analysts may not be associated persons of Canaccord Genuity LLC and therefore may not be subject to the FINRA Rule 2241 and NYSE Rule 472 restrictions on communications with a subject company, public appearances and trading securities held by a research analyst account. Sector Coverage Individuals identified as “Sector Coverage” cover a subject company’s industry in the identified jurisdiction, but are not authoring analysts of the report. Investment Recommendation Date and time of first dissemination: April 20, 2026, 16:01 ET Date and time of production: April 20, 2026, 15:59 ET Target Price / Valuation Methodology: ADMA Biologics - ADMA Valuation: Our price target of $21 is based primarily on our DCF, with a discount rate of 10% and a 2032 terminal EBITDA multiple of 8x. We believe the discount rate (accounts for some more risk on growth) and terminal multiple (discount to the group) both reflect some additional conservatism given some recent heightened concerns where investors may want better visibility. Assuming a strong growth profile and good durability, we could see upside to our PT, which implies a P/E of ~21x our 2026E EPS (~15x our 2026E EBITDA) and ~16x our 2027E EPS (~11x our 2027E EBITDA) with ADMA’s projected CAGR of ~21% for revenue and ~32% for EBITDA through 2029E. Risks to achieving Target Price / Valuation: ADMA Biologics - ADMA ADMA is susceptible to the standard risks that apply to the entire Biotech/BioPharma industry including clinical, reimbursement, development, manufacturing, regulatory, commercial, macro, and IP risks. Risks more specific to ADMA include: 1) Bar has been raised for investor expectations with the quarterly numbers, and without beats and raises the stock could be rangebound for some time with limited other catalysts for the stock and some additional concerns raised in the recent short report. 2) Asceniv is a higher priced IG given its unique profile that could potentially see more payer pressure as volumes increase further, though ADMA is managing that carefully. 3) Some other bottlenecks could exist as ADMA looks to accelerate Asceniv further including with a consistent high-titer plasma supply, expanding physician prescribing, and ensuring appropriate patients are identified. 4) Working capital dynamics have pushed AR and inventory balances higher (a target of recent short report), and management has been trying hard to improve that including with a new McKesson distribution agreement, although that could take some time. Distribution of Ratings: Global Stock Ratings (as of 04/20/26) Rating Coverage Universe IB Clients # % % Buy 685 70.11% 27.88% Hold 130 13.31% 9.23% Sell 2 0.20% 0.00% Speculative Buy 157 16.07% 63.69% 977* 100.0% *Total includes stocks that are Under Review Canaccord Genuity Ratings System BUY: The stock is expected to generate returns greater than 10% during the next 12 months. HOLD: The stock is expected to generate returns from -10% to 10% during the next 12 months. SELL: The stock is expected to generate returns less than -10% during the next 12 months.

NOT RATED: Canaccord Genuity does not provide research coverage of the relevant issuer. Given the inherent volatility of some stocks under coverage, price targets for some stocks may imply target returns that vary temporarily from the ratings criteria above. *As of January 1, 2024, the Ratings History Chart will reflect the new Canaccord Genuity Ratings System as defined above. Risk Qualifier SPECULATIVE: The stock bears significantly above-average risk and volatility. Investments in the stock may result in material loss. 12-Month Recommendation History (as of date same as the Global Stock Ratings table) A list of all the recommendations on any issuer under coverage that was disseminated during the preceding 12-month period may be obtained at the following website (provided as a hyperlink if this report is being read electronically) http://disclosuresmar.canaccordgenuity.com/EN/Pages/default.aspx Required Company-Specific Disclosures (as of date of this publication) Canaccord Genuity or one or more of its affiliated companies is a market maker or liquidity provider in the securities of ADMA Biologics or in any related derivatives. Canaccord Genuity or one or more of its affiliated companies intend to seek or expect to receive compensation for Investment Banking services from ADMA Biologics in the next three months. ADMA Biologics Rating History as of 04/17/2026 $25 $20 $15 $10 $5 $0 Jul 21 Oct 21Jan 22Apr 22 Jul 22 Oct 22Jan 23Apr 23 Jul 23 Oct 23Jan 24Apr 24 Jul 24 Oct 24Jan 25Apr 25 Jul 25 Oct 25Jan 26Apr 26 Closing Price Price Target Buy (B); Speculative Buy (SB); Sell (S); Hold (H); Suspended (SU); Under Review (UR); Restricted (RE); Not Rated (NR) Past performance In line with Article 44(4)(b), MiFID II Delegated Regulation, we disclose price performance for the preceding five years or the whole period for which the financial instrument has been offered or investment service provided where less than five years. Please note price history refers to actual past performance, and that past performance is not a reliable indicator of future price and/or performance. Online Disclosures Up-to-date disclosures may be obtained at the following website (provided as a hyperlink if this report is being read electronically) http://disclosures.canaccordgenuity.com/EN/Pages/default.aspx; or by sending a request to Canaccord Genuity Corp. Research, Attn: Disclosures, P.O. Box 10337 Pacific Centre, 2200-609 Granville Street, Vancouver, BC, Canada V7Y 1H2; or by sending a request by email to disclosures@cgf.com. The reader may also obtain a copy of Canaccord Genuity’s policies and procedures regarding the dissemination of research by following the steps outlined above. General Disclaimers See “Required Company-Specific Disclosures” above for any of the following disclosures required as to companies referred to in this report: manager or co-manager roles; 1% or other ownership; compensation for certain services; types of client relationships; research analyst conflicts; managed/co-managed public offerings in prior periods; directorships; market making in equity securities and related derivatives. For reports identified above as compendium reports, the foregoing required company-specific disclosures can be found in a hyperlink located in the section labeled, “Compendium Reports.” “Canaccord Genuity” is the business name used by certain wholly owned subsidiaries of Canaccord Genuity Group Inc., including Canaccord Genuity LLC, Canaccord Genuity Limited, Canaccord Genuity Corp., and Canaccord Genuity (Australia) Limited, an affiliated company that is 80%-owned by Canaccord Genuity Group Inc. The authoring analysts who are responsible for the preparation of this research are employed by Canaccord Genuity Corp. a Canadian broker-dealer with principal offices located in Vancouver, Calgary, Toronto, Montreal, or Canaccord Genuity LLC, a US broker-dealer with principal offices located in New York, Boston, San Francisco and Houston, or Canaccord Genuity Limited., a UK broker-dealer with principal offices located in London (UK) and Dublin (Ireland), or Canaccord Genuity (Australia) Limited, an Australian broker-dealer with principal offices located in Sydney and Melbourne.

The authoring analysts who are responsible for the preparation of this research have received (or will receive) compensation based upon (among other factors) the Investment Banking revenues and general profits of Canaccord Genuity. However, such authoring analysts have not received, and will not receive, compensation that is directly based upon or linked to one or more specific Investment Banking activities, or to recommendations contained in the research. Some regulators require that a firm must establish, implement and make available a policy for managing conflicts of interest arising as a result of publication or distribution of research. This research has been prepared in accordance with Canaccord Genuity’s policy on managing conflicts of interest, and information barriers or firewalls have been used where appropriate. Canaccord Genuity’s policy is available upon request. The information contained in this research has been compiled by Canaccord Genuity from sources believed to be reliable, but (with the exception of the information about Canaccord Genuity) no representation or warranty, express or implied, is made by Canaccord Genuity, its affiliated companies or any other person as to its fairness, accuracy, completeness or correctness. Canaccord Genuity has not independently verified the facts, assumptions, and estimates contained herein. All estimates, opinions and other information contained in this research constitute Canaccord Genuity’s judgement as of the date of this research, are subject to change without notice and are provided in good faith but without legal responsibility or liability. From time to time, Canaccord Genuity salespeople, traders, and other professionals provide oral or written market commentary or trading strategies to our clients and our principal trading desk that reflect opinions that are contrary to the opinions expressed in this research. Canaccord Genuity’s affiliates, principal trading desk, and investing businesses also from time to time make investment decisions that are inconsistent with the recommendations or views expressed in this research. This research is provided for information purposes only and does not constitute an offer or solicitation to buy or sell any designated investments discussed herein in any jurisdiction where such offer or solicitation would be prohibited. As a result, the designated investments discussed in this research may not be eligible for sale in some jurisdictions. 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( Companies Mentioned: ADMA:NASDAQ, )

CleanTech Co. Secures US$1.2M Mineral Processing Contract in Western US

Thu, 23 Apr 2026 00:00:00 PST

Source: Streetwise Reports 04/23/2026

BioLargo Inc. (BLGO:OTCQX) says a subsidiary has secured a US$1.2 million contract to design of a pilot-scale facility to reuse legacy mine waste in the Western U.S. One expert says the company has multiple catalysts approaching.

BioLargo Inc. (BLGO:OTCQX) announced that its engineering division, BioLargo Engineering, Science & Technologies, Inc. (BLEST), has secured a US$1.2 million contract to design of a pilot-scale minerals processing facility aimed at the remediation and beneficial reuse of legacy mineral waste from a site in the western United States that has been historically impacted, according to an April 20 release.

Under this new contract, BLEST will utilize its unique proprietary and patented technology to transform non-hazardous waste materials into commercially valuable products, BioLargo said. The current contract focuses solely on the initial design phase, which includes developing a pilot plant to demonstrate and validate the essential manufacturing and processing capabilities needed for future scale-up. This design phase is slated to last about six months.

Should the pilot operations prove successful, plans are in place to expand this initiative into a full-scale commercial production facility, the company said. The entire development process, from the pilot design to full-scale production, is expected to unfold over two to three years, with potential for extended long-term operations depending on the outcomes of the pilot phase and other standard development considerations.

"This project exemplifies the growing importance of waste-to-value solutions in modern environmental management," BioLargo President and Chief Executive Officer Dennis P. Calvert said. "By transforming legacy waste streams into commercially valuable products, we are helping our clients turn environmental liabilities into economic opportunities. We view this engagement as the first step in what we expect to be a long-term collaboration — beginning with preliminary design, advancing through pilot validation, and ultimately leading to full-scale construction and production."

The pilot program is also designed to produce materials for customer evaluation, product qualification, and initial market development efforts, BioLargo said. Work on this project is set to begin immediately, following a milestone-based structure.

This initiative underscores BioLargo's commitment to expanding its role in sustainable minerals processing and environmental remediation, particularly through innovative solutions that promote a circular economy and address legacy waste challenges.

ViaCLYR™ Finding Success

BioLargo is also finding success with its Clyra Medical Technologies subsidiary and its ViaCLYR™ advanced wound irrigation solution.

At the Boswick Symposium in Maui, Hawaii, on January 28, Dr. Marcus Gitterle presented positive clinical experiences with the technology. Gitterle serves as the Regional Medical Director for Wound Care and Hyperbaric Oxygen Therapy at Christus Santa Rosa Hospital System in San Antonio, Texas. He shared findings from a multi-site evaluation of ViaCLYR™ involving about 36 cases across four wound clinics over four months. The cases included challenging scenarios such as diabetic foot ulcers, venous leg ulcers, pressure injuries, and complex surgical wounds.

Dr. Gitterle described the results as "remarkable" and "unusual," highlighting ViaCLYR™'s excellent safety profile, strong antimicrobial performance, and its ability to enhance healing. Notably, no adverse reactions were reported during the evaluation. He emphasized the significant clinical improvements observed, such as enhanced granulation velocity, rapid closure of sinus tracts, and a noticeable reduction in wound drainage. Patients with chronic, fibrotic wounds experienced rapid transformation to highly proliferative healing wounds, a result Dr. Gitterle found particularly striking given the severity and chronicity of the underlying diseases.

ViaCLYR™ utilizes Clyra's proprietary Copper-Iodine Complex Solution (CICS), known as Clyrasept™, which offers rapid, broad-spectrum antimicrobial activity while remaining biocompatible with human tissues. Key clinical observations included rapid reduction in wound fluid discharge, noticeable increase in healing activity early in treatment, rapid closure of wound tunnels, improved wound edge appearance, dramatic transformation of chronic, scarred wounds to actively healing wounds, and significant reduction in wound size and depth, especially in pressure injuries.

In February, BioLargo announced that Clyra had received its first commercial stocking order from Advanced Solution LLC for ViaCLYR™, marking the start of commercial distribution and signifying Clyra's transition from development-stage operations to generating initial revenue. This milestone is seen as the first of many planned commercial and revenue-related announcements as Clyra advances its market rollout.

ViaCLYR™ is described as a highly effective, tissue-safe, long-acting wound irrigation solution suitable for a wide range of acute and chronic wounds and burns. It is 510(k) cleared by the FDA and indicated for use in both acute and chronic wounds, boasting extremely high antimicrobial activity and sustained efficacy for up to 72 hours.

Analyst: Multiple Catalysts Across Multiple Platforms

¹BioLargo, a technology incubator, is making significant progress in addressing critical healthcare and environmental challenges, according to Technical Analyst John Newell of John Newell & Associates. In a report for Streetwise Reports dated March 11, Newell highlighted BioLargo's advancements, particularly through its Clyra technology, which is gaining recognition in the healthcare sector. Clyra's technology is noted for its ability to effectively eliminate pathogens without harming human tissue, positioning it as a vital tool in combating hospital-acquired infections and antibiotic resistance.

BioLargo's approach involves advancing its proprietary technologies through scientific validation and partnering with established organizations to scale these innovations. The company's portfolio spans advanced water treatment, environmental remediation, odor and air quality control, long-duration energy storage, and medical technologies. Among these, Clyra Medical Technologies is particularly notable for its copper-iodine antimicrobial solutions that maintain effectiveness for up to 72 hours without causing cytotoxic damage. This feature is crucial for treating wounds and surgical infections.

Clyra's lead product, ViaCLYR, has received FDA 510(k) clearance, which has facilitated its commercial distribution through established medical device channels. The technology is protected by around 40 issued and pending patents and is available in various delivery formats, including liquids, powders, hydrogels, and antimicrobial dressings, Newell noted.

In addition to its medical innovations, BioLargo is developing a long-duration energy storage system called the Cellinity™ battery. This system is designed to overcome the limitations of lithium-ion batteries for grid-scale applications and is built from earth-abundant materials aimed at multi-decade durability. The company intends to license this technology and partner with manufacturing facilities for its production.

BioLargo presents itself as a Speculative Buy, he said, offering multiple potential catalysts across its technology platforms. The company's strategic approach to commercialization and partnership positions it well to capitalize on the growing needs for advanced healthcare solutions and sustainable energy storage.

Oak Ridge Financial Analyst Richard Ryan gave up an update on the stock on March 6.

"BLGO's business model is a hub and spoke format — invent/acquire a product, prototype/prove it out, partner with necessary thirrd parties, and commercialize," wrote Ryan, who gives the stock a Buy rating. "By commercializing technologies through operating subsidiaries, BLGO diversifies overall risk, maintains high levels of segment ownership while providing solutions to diversified, high-growth end markets."

The Catalyst: Mineral Processing Waste Worldwide

Nicholas LePan, writing for Elements on May 15, 2021, highlighted the environmental impact of mining, specifically focusing on the waste known as tailings, which are often stored in dams or ponds globally. Citing data from the International Council on Mining and Metals, the United Nations Environment Programme, and Principles for Responsible Investment, LePan noted that there are approximately 8,500 active, inactive, or closed tailings storage facilities worldwide. These facilities collectively contain about 217 cubic kilometers of tailings, which could form a cube 6 kilometers tall.

A report by Market Research Future detailed the financial scope of the Mining Tailings Management Market, which was valued at US$11.74 billion in 2024. It is projected to grow to US$12.23 billion in 2025 and further increase to US$18.36 billion by 2035, achieving a compound annual growth rate (CAGR) of 4.15% over the forecast period from 2025 to 2035.[OWNERSHIP_CHART-6976]

The report identified filtered tailings as the dominant market segment, while thickened tailings are noted as the fastest-growing segment due to their efficiency in resource recovery. The growth in this market is largely driven by increased environmental awareness and regulatory pressures, which are encouraging investments in sustainable mining practices.

The report also highlighted significant trends and developments within the Mining Tailings Management Market. There is a clear shift towards sustainable practices and the integration of advanced technologies in the sector. Geographically, North America remains the largest market, attributed to its stringent regulatory and environmental standards. However, the Asia-Pacific region is rapidly emerging as the fastest-growing market, driven by a growing demand for innovative and sustainable tailings management solutions.

Ownership and Share Structure²

About 13.57% of BioLargo is owned by insiders and management. They include Chief Science Officer Kenneth Code with 8.07%, CEO Calvert with 3.28%, and Director Jack Strommen with 1.52%.

About 0.04% is held by the institution First American Trust. The rest, 86%, is retail.

Its market cap is US$46.79 million, with about 320.47 million shares outstanding and about 276.31 million free-floating. It trades in a 52-week range of US$0.26 and US$0.14.

Important Disclosures:

BioLargo Inc. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000.
As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of BioLargo Inc.
Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

For additional disclosures, please click here.

Disclosure for the quote from the John Newell article published on March 3, 2026

For the quoted article (published on March 3, 2026), the Company has paid Street Smart, an affiliate of Streetwise Reports, US$2,550.
Author Certification and Compensation: [John Newell of John Newell and Associates] was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Newell holds a Chartered Investment Management (CIM) designation (2015) and a U.S. Portfolio Manager designation (2015). The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.

John Newell Disclaimer

As always it is important to note that investing in precious metals like silver carries risks, and market conditions can change violently with shock and awe tactics, that we have seen over the past 20 years. Before making any investment decisions, it's advisable consult with a financial advisor if needed. Also the practice of conducting thorough research and to consider your investment goals and risk tolerance.

Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

( Companies Mentioned: BLGO:OTCQX, )

Genetic Medicines Co. Reveals Transformative 'Only-of-Its-Kind' AAV Therapy Milestone

Mon, 20 Apr 2026 00:00:00 PST

Source: Streetwise Reports 04/20/2026

MeiraGTx Holdings Plc (MGTX:NASDAQ) reports 3-year gene therapy results, secures US$100M funding, and advances late-stage pipeline, signaling major commercial potential.

On April 16, 2026, MeiraGTx Holdings Plc (MGTX:NASDAQ) released two news items: positive data from its 3-year Phase 1 clinical trial for AAV-hAQP1 and a new underwritten offering of 11,111,111 shares.

The Phase 1 AQUAx clinical trial was designed to evaluate the safety of MeiraGTx's investigational gene therapy, AAV-hAQP1 ". . . when administered via Stensen's duct to one or both parotid glands in patients who have been diagnosed with grade 2 or 3 radiation-induced xerostomia and who have remained cancer-free for at least five years (or at least two years if HPV+) after receiving radiation treatment for head and neck cancer."

President, CEO, and Ph.D. Alexandria Forbes announced, "The 3-year data shows remarkable maintenance of the unprecedented improvements seen in response to AAV-hAQP1 treatment at 12 months. XQ responses are maintained over 3 years, as is unstimulated saliva flow – the objective measure of the therapy’s mechanism of action. The durability we are seeing with AAV-hAQP1 is extraordinary, particularly following the simple one-time treatment. In addition to the durability of the population data over three years, the consistency of responses within individual patients is also encouraging. This three-year durability data is changing the way AAV-hAQP1 treatment is viewed by physicians, as it is now being regarded as a simple one-time treatment that has disease modifying impact on patients with this lifelong, severely debilitating condition that has no other treatments."

The company also reacquired the drug, bota-vec, into its portfolio. The drug is a late-stage ophthalmology asset, according to H.C. Wainwright & Co., that will undergo Phase 3 trials.

Directly after this news, MeiraGTx released a US$9 offer per ordinary share, with the expectation that gross proceeds would total around US$100 million. After costs, the company plans to use the net proceeds to fund its operating expenses and capital expenditure requirements, including ". . . potential commercial launches of bota-vec for the treatment of X-linked retinitis pigmentosa and AAV-hAQP1 for the treatment of radiation-induced xerostomia, in each case if approved, into the second half of 2028."

The offering is being joint book managed by BofA Securities and Goldman Sachs & Co. LLC, with Raymond James acting as co-manager. The offer was met and closed late last week.

MeiraGTx considers itself a ". . . vertically integrated, clinical-stage genetic medicines company with a broad pipeline" and it based in the New York City.

Gene Therapies a Growing Market

There is currently no competition for AAV-hAQP1, and Forbes said in the release that, "Persistent radiation-induced xerostomia is a severe unmet need with a large, well-defined patient population, strong physician enthusiasm, and a simple one-time in-office procedure. We believe AAV-hAQP1 has the potential to be clinically transformative and a very meaningful commercial opportunity."

In December 2025, Yahoo Finance reported that CRISPR-based gene editing tools and novel vector delivery platforms have begun reshaping the therapeutic landscape. The same article valued the global gene therapy market at US$8.85 billion in 2024, with projections of a CAGR advancement of 19.4% from 2025 to 2032. This forecasted valuation leads to projected market highs of US$36.55 billion.

Biotech and pharmaceuticals, in general, have also shown exponential growth recently. "The global biotechnology market size was estimated at US$1.55 trillion in 2023 and is projected to reach US$3.88 trillion by 2030, growing at a CAGR of 13.96% from 2024 to 2030," said Grandview Research.

Buy Ratings Across the Board

According to Factset:

Mitchel S. Kapoor for H.C. Wainwright & Co. reiterated its 'Buy' rating for MeiraGTx Holdings Plc. on April 20, 2026, with a target price of US$20.00.
Christopher Raymond of Raymond James gave the company a 'Buy' rating on April 16, 2026, with a price target of US$27.00.
Lisa Walker of RBC Capital Markets gave the company a 'Buy' rating on April 16, 2026, with a price target of US24.00.
Gavin Clark-Gartner for Evercore ISI gave the company a 'Buy'' rating on April 16, 2026, with a price target of US$18.00.
Daniil Gataulin of Chardan gave the company a 'Buy' rating on April 16, 2026, with a price target of US$35.00.
Elemer Piros of Lucid Capital Markets gave the company a 'Buy' rating on April 15, 2026, with a price target of US$50.00.
Allison M. Bratzel of Piper Sandler Companies gave the company a 'Buy' rating on March 26, 2026, with a price target of US$26.00.

In the April 20 research for H.C. Wainwright & Co., Kapoor considered "AAV-hQP1's 3-year durability, bota-vec's return, and financing into 2H28 to sharpen the path to two launches over the next two years."

Analysts Call 2026 Calendar "Stacked"

Senior Analyst Kapoor wrote in Wainwright's research paper that "... we see a stacked 2026-2027 catalyst calendar. MeiraGTx priced 11.1M shares at US$9/share for ~US$100M in gross proceeds late last week; the company said net proceeds together with existing cash should fund operating expenses and capital expenditures, including potential launches of bota-vec and AAV-hAQP1 if approved, into 2H28. [OWNERSHIP_CHART-11212]

Beyond bota-vec filings and the 2Q27 AQUAx2 readout/BLA timing, AAV-GAD Phase 3 initiation remains expected in 2026 under the Hologen JV, trigeminal neuralgia is also expected to enter the clinic in 2026, and Ribo-leptin remains a candidate for near-term Investigational New Drug (IND) application submission, pending FDA alignment. Milestone optionality from Eli Lilly and Co. (LLY:NYSE), including US$135M in nearer-term milestones within a >US$400M total package, remains incremental to the core commercial setup."

According to MeiraGTx's investor presentation, the company has four pivotal-stage programs in development. The first is a potential BLA filing in early 2027 for AAV-hQP1's. Next is an AIPL1-Associated Congenital Blindness treatment that could be approved in 2026. Finally, the company is moving into a Phase 3 study for a Parkinson's Disease treatment that could be ready for a BLA filing in 2028.

Ownership & Share Structure¹

MeiraGTx Holdings Plc. has a market cap of US$936.68 million, with 92.56 million shares outstanding. The company's 52-week range is US$4.55-US$11.85.

Institutions hold 57.66% of shares, while Strategic Entities own 13.93%. Management & Insiders own 4.07% of shares, and the remaining 24.34% of shares are held by Retail.

Important Disclosures:

Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

For additional disclosures, please click here.

1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

( Companies Mentioned: MGTX:NASDAQ, )

Company Wins Back Promising Eye Disease Drug and Eyes Two Product Launches by 2028

Mon, 20 Apr 2026 00:00:00 PST

Source: Mitchell Kapoor 04/20/2026

MeiraGTx Holdings plc. (MGTX:NASDAQ) reported three-year durability data for AAV-hAQP1 in radiation-induced xerostomia, the reacquisition of filing-ready XLRP asset bota-vec from Johnson & Johnson, and a US$100M, according to an H.C. Wainwright research note.

In a research note published on April 20, 2026, Mitchell S. Kapoor, Raghuram Selvaraju, Ph.D., and Yi Chen, Ph.D., CFA of H.C. Wainwright & Co. reiterated a Buy rating and 12-month price target of US$20.00 on MeiraGTx Holdings Plc (MGTX:NASDAQ), representing a potential return of approximately 98% from the April 17, 2026 share price of US$10.12. The analysts cite two near-term product launches coming into view — AAV-hAQP1 for radiation-induced xerostomia and bota-vec for X-linked Retinitis Pigmentosa — along with a recent financing that extends the company's runway into the expected launch window as the basis for their conviction.

AAV-hAQP1 Durability Data

The 36-month AQUAx update demonstrated that the AAV-hAQP1 Phase 1 signal held at both the cohort and individual patient level. The bilateral cohort's approximately 21-point mean Xerostomia Questionnaire (XQ) improvement at 12 months was essentially maintained at 36 months, and Unstimulated Whole Saliva Flow Rate improvement was similarly sustained through three years. Biopsy samples collected 12 to 30 months post-treatment showed vector DNA in 6 of 7 patients, with AQP1 protein expression detected in one patient with sufficient tissue. The analysts note that the FDA's Breakthrough Therapy designation was supported by the Phase 1 dataset, including the three-year follow-up data.

Management described improved physician and payer engagement following incorporation of the three-year data into commercial discussions, with modeled pricing of approximately US$150K, gross-to-net of 15%–20%, and approximately 90% access, supporting management's view of US$2.0B U.S. peak annual sales and approximately US$3.7B in global peak annual sales. The analysts note that more than 60% of U.S. radiation-induced xerostomia patients are located within three hours of 15 metro areas, keeping the launch footprint concentrated.

AQUAx2, a 276-patient, double-blind, placebo-controlled study across the U.S., U.K., and Canada, is the next major value inflection. The FDA has provided written alignment that the study can support a Biologics License Application (BLA), with success defined as any one active arm beating the pooled placebo on XQ. A data readout and potential BLA filing are targeted for 2Q27, with a U.S. launch slated for early 2028. The analysts also note Sjögren's syndrome and PSMA-radioligand xerostomia as the clearest expansion opportunities beyond radiation-induced xerostomia.

Bota-vec Reacquisition

MeiraGTx regained full control of bota-vec, a filing-ready asset for X-linked Retinitis Pigmentosa (XLRP), from Johnson & Johnson (JNJ-NYSE; not rated). The company will pay US$25M upfront, a US$50M milestone only if both U.S. approval is achieved and cumulative U.S. net sales exceed US$250M, and mid-teens royalties on net sales beginning July 1, 2029. MeiraGTx is also assuming UCL obligations and sharing certain sub-license economics. The company had previously monetized the RPGR asset for up to US$415M and had received US$125M under that framework; the reacquisition brings it back in-house with completed Process Performance Qualification (PPQ) batches in place. Regulatory submissions are intended to begin promptly in the U.S., EU, and Japan, with a potential 2027 launch target.

The analysts acknowledge that the LUMEOS pivotal trial missed its novel Visual Mobility Assessment (VMA) primary endpoint, though they note that treated patients were directionally 2.4x more likely to respond, that Low Luminance Questionnaire (LLQ) and Interleaved Visual Integration Assessment (IVI-A) showed functional benefit, that retinal sensitivity endpoints were statistically positive, and that investigators highlighted 10- and 15-letter gains in low-luminance visual acuity. The analysts assign bota-vec a 65% probability of approval.

Financing and Catalyst Calendar

MeiraGTx priced 11.1 million shares at US$9.00 per share for approximately US$100M in gross proceeds.

The company stated that net proceeds, together with existing cash of US$226.0M, should fund operating expenses and capital expenditures — including potential launches of bota-vec and AAV-hAQP1 if approved — into the second half of 2028. Beyond the two lead programs, AAV-GAD Phase 3 initiation under the Hologen JV and trigeminal neuralgia's entry into the clinic are both expected in 2026, and Ribo-leptin remains a candidate for a near-term IND submission pending FDA alignment. Milestone optionality from EEli Lilly and Co. (LLY:NYSE), including US$135M in nearer-term milestones within a total package of more than US$400M, is characterized as incremental to the core commercial setup.

Model Updates and Valuation

The analysts updated their model to account for the April 16 financing and bota-vec reacquisition, increasing the diluted share count for the 11.1 million-share offering and incorporating acquisition economics. In radiation-induced xerostomia, the probability of approval was raised to 75% from 45%, the U.S. list price assumption was lowered to US$150K with a 15% gross-to-net rate, and peak market penetration was raised to 30% from 10% to reflect improved access dynamics at lower pricing.

Despite these changes, the analysts characterize their US$1B U.S. peak sales estimate for AAV-hAQP1 as conservative relative to management's approximately US$2B U.S. peak view. The net effect of higher share count, the addition of bota-vec, and updated pricing and penetration assumptions was neutral to the price target. Using a 12% discount rate and 1% terminal growth rate, the DCF-based analysis yields an estimated enterprise value of approximately US$1.985B and a 12-month price target of US$20, assuming 109 million fully diluted shares outstanding and an estimated end-2Q27 cash position of approximately US$309M.

Risks

The analysts identify the following material risks: delays in advancing pipeline candidates into and through clinical trials; failure to obtain positive clinical data from ongoing programs; and possible long-term equity dilution risk.

Outlook

H.C. Wainwright reiterates its Buy rating and US$20 price target on MeiraGTx Holdings plc (MGTX:NASDAQ).

At the April 17, 2026, share price of US$10.12, the stock trades at approximately a 49% discount to the 12-month price target, implying a potential return of approximately 98%.

Important Disclosures:

This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

For additional disclosures, please click here.

Disclosures for H.C. Wainwright & Co., MeiraGTx Holdings Plc., April 20, 2026

This material is confidential and intended for use by Institutional Accounts as defined in FINRA Rule 4512(c). It may also be privileged or otherwise protected by work product immunity or other legal rules. If you have received it by mistake, please let us know by e-mail reply to unsubscribe@hcwresearch.com and delete it from your system; you may not copy this message or disclose its contents to anyone. The integrity and security of this message cannot be guaranteed on the Internet. H.C. WAINWRIGHT & CO, LLC RATING SYSTEM: H.C. Wainwright employs a three tier rating system for evaluating both the potential return and risk associated with owning common equity shares of rated firms. The expected return of any given equity is measured on a RELATIVE basis of other companies in the same sector. The price objective is calculated to estimate the potential movements in price that a given equity could reach provided certain targets are met over a defined time horizon. Price objectives are subject to external factors including industry events and market volatility. RETURN ASSESSMENT Market Outperform (Buy): The common stock of the company is expected to outperform a passive index comprised of all the common stock of companies within the same sector. Market Perform (Neutral): The common stock of the company is expected to mimic the performance of a passive index comprised of all the common stock of companies within the same sector. Market Underperform (Sell): The common stock of the company is expected to underperform a passive index comprised of all the common stock of companies within the same sector. Rating and Price Target History for: MeiraGTx Holdings plc (MGTX-US) as of 04-17-2026 12 10 8 6 4 2 Q1 Q2 Q3 2024 Q1 Q2 Q3 2025 Q1 Q2 Q3 2026 Q1 Q2 I:BUY:$20.00 11/24/25 Investment Banking Services include, but are not limited to, acting as a manager/co-manager in the underwriting or placement of securities, acting as financial advisor, and/or providing corporate finance or capital markets-related services to a company or one of its affiliates or subsidiaries within the past 12 months. Distribution of Ratings Table as of April 17, 2026 IB Service/Past 12 Months Ratings Count Percent Count Percent Buy 556 83.61% 163 29.32% Neutral 62 9.32% 10 16.13% Sell 2 0.30% 0 0.00% Under Review 45 6.77% 15 33.33% H.C. Wainwright & Co, LLC (the “Firm”) is a member of FINRA and SIPC and a registered U.S. Broker-Dealer. I, Mitchell S. Kapoor, Yi Chen, Ph.D. CFA and Raghuram Selvaraju, Ph.D. , certify that 1) all of the views expressed in this report accurately reflect my personal views about any and all subject securities or issuers discussed; and 2) no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report; and 3) neither myself nor any members of my household is an officer, director or advisory board member of these companies. None of the research analysts or the research analyst’s household has a financial interest in the securities of MeiraGTx Holdings plc (including, without limitation, any option, right, warrant, future, long or short position). As of March 31, 2026 neither the Firm nor its affiliates beneficially own 1% or more of any class of common equity securities of MeiraGTx Holdings plc. Neither the research analyst nor the Firm knows or has reason to know of any other material conflict of interest at the time of publication of this research report.

The research analyst principally responsible for preparation of the report does not receive compensation that is based upon any specific investment banking services or transaction but is compensated based on factors including total revenue and profitability of the Firm, a substantial portion of which is derived from investment banking services. The Firm or its affiliates did not receive compensation from MeiraGTx Holdings plc for investment banking services within twelve months before, but will seek compensation from the companies mentioned in this report for investment banking services within three months following publication of the research report. The Firm does not make a market in MeiraGTx Holdings plc as of the date of this research report. The securities of the company discussed in this report may be unsuitable for investors depending on their specific investment objectives and financial position. Past performance is no guarantee of future results. This report is offered for informational purposes only, and does not constitute an offer or solicitation to buy or sell any securities discussed herein in any jurisdiction where such would be prohibited. This research report is not intended to provide tax advice or to be used to provide tax advice to any person. Electronic versions of H.C. Wainwright & Co., LLC research reports are made available to all clients simultaneously. No part of this report may be reproduced in any form without the expressed permission of H.C. Wainwright & Co., LLC. Additional information available upon request. H.C. Wainwright & Co., LLC does not provide individually tailored investment advice in research reports. This research report is not intended to provide personal investment advice and it does not take into account the specific investment objectives, financial situation and the particular needs of any specific person. Investors should seek financial advice regarding the appropriateness of investing in financial instruments and implementing investment strategies discussed or recommended in this research report. H.C. Wainwright & Co., LLC’s and its affiliates’ salespeople, traders, and other professionals may provide oral or written market commentary or trading strategies that reflect opinions that are contrary to the opinions expressed in this research report. H.C. Wainwright & Co., LLC and its affiliates, officers, directors, and employees, excluding its analysts, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives (including options and warrants) thereof of covered companies referred to in this research report. The information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data on the company, industry or security discussed in the report. All opinions and estimates included in this report constitute the analyst’s judgment as of the date of this report and are subject to change without notice. Securities and other financial instruments discussed in this research report: may lose value; are not insured by the Federal Deposit Insurance Corporation; and are subject to investment risks, including possible loss of the principal amount invested.

( Companies Mentioned: MGTX:NASDAQ, )

Massachusetts Biotech Co. Faces Major Melanoma Drug Setback

Tue, 14 Apr 2026 00:00:00 PST

Source: Streetwise Reports 04/14/2026

Replimune Group Inc.'s (REPL:NASDAQ) RP1 melanoma therapy hits FDA rejection, raising uncertainty around approval timelines and future market potential.

A Complete Response Letter (CRL) from the U.S. Food and Drug Administration (USDA) has been released for Replimune Group Inc.'s (REPL:NASDAQ) advanced melanoma cancer drug, RP1. In response to the company's Biologics License Application (BLA), the FDA decided to deny the application, with a senior case member formerly on the project stating that the ". . . BLA clinical team thought the applicant had provided adequate evidence to support contribution of effect of RP1 plus nivolumab, but leadership did not agree." The company offered to meet with the BLA team throughout the review process, but the team declined.

The BLA team was 'new' and comprised of members the company had not interacted with before.

Sushil Patel, Ph.D., and CEO of Replimune, said in response to the CRL, "It is deeply disappointing that the FDA has not exercised regulatory flexibility to meet patients’ needs given the data supporting strong efficacy and the favorable safety profile. Approximately 8,500 Americans with advanced melanoma die every year. The country's foremost melanoma specialists stood behind the RP1 data. Patients and caregivers pleaded for urgency. All of it was met with inconsistent communication and a fragmented and slow-moving regulatory process which clearly puts U.S. innovation at risk."

Patel continued, asserting the cost this delay could have for patients battling melanoma: "As we previously communicated, without timely accelerated approval, the development of RP1 will not be viable. We are devastated for our committed employees who have worked tirelessly for patients, but at this point, we have no choice but to eliminate jobs, including substantially scaling back our U.S.-based manufacturing operations. A treatment desperately needed by patients will not be available. Not because the medicine failed. Because the system did.”

The FDA argued that the presented data set was sufficient to allow the drug to be made available to patients, but Replimune disagreed. "In the IGNYTE trial, patients with confirmed progression on an anti-PD-1-based regimen who received RP1 plus nivolumab had a 34% response rate with a median duration of 24.8 months with a favorable safety profile."

Much progress has been made in previous BLA meetings, with the FDA permitting the company to submit a BLA based primarily on data from the Phase 2 IGNYTE trial, and even accepted the submission with a 'breakthrough therapy' designation. When Replimune received FDA feedback, a Phase 3 trial to satisfy regulatory requirements began to accelerate approval.

But according to an April 10, 2026, Stockwatch.com article, the blame for this denial may lie with the regulatory agency, not the company. The article asserts that several communication issues created contradictions, including:

"After testimony from melanoma experts, the agency did not raise further concerns about the heterogeneity of the patient population in IGNYTE and acknowledged that randomizing patients to an anti-PD1-only arm in the confirmatory study was not feasible.

Following an agency suggestion, the company submitted a proposal for a descriptive analysis from IGNYTE-3 supporting the contribution of components. The company also included data from IGNYTE showing median progression-free survival on RP1 plus nivolumab was 30.6 months compared to 4.4 months on their prior PD-1-based regimen. The company requested feedback; however, the FDA did not respond and subsequently accepted the resubmission as a complete response to the July 2025 CRL.

The FDA raised several points related to tumor assessment methodology. As requested by the FDA, responses in IGNYTE were assessed using RECIST 1.1 without modifications. In addition, the company provided detailed analyses showing no material difference in response rates between injected and non-injected lesions. The company also provided a comprehensive analysis, which showed that biopsies and surgical interventions did not impact tumor response."

RP1 (vusolimogene oderparepvec) is based on a proprietary strain of herpes simplex virus engineered with a fusogenic protein (GALV-GP R- and GM-CSF) to attack and kill tumors, and activate the anti-tumor immune response. Replimune is a pharma company focused on cancer treatment based out of Massachusetts, and its RPx platform is the company's primary focus.

Melanoma Market Demands Development

Worldwide, melanoma is the fifth most common form of cancer and was responsible for roughly 8,500 deaths in the U.S. in 2025. Replimune focuses on treating advanced melanoma, which is characterized by a cancerous spread from one tumor to other parts of the body.

In a February 26, 2026, article by Keith Speights for The Motley Fool, Speights said that the cost of treating cancer in the U.S. costs roughly US$200 billion in 2020, but that cost is expected to grow to US$245 billion by 2030. A rise in treatment costs also means a rise in stock prices, with Mordor Intelligence writing, "The Cancer Therapy Market size was valued at US$245.18 billion in 2025 and is estimated to grow from US$269.66 billion in 2026 to reach US$446.89 billion by 2031," effectively doubling the market.

Several Analysts Downgrade Stock

According to FactSet, on April 8, 2026, Cantor Fitzgerald analyst Li Watsek gave Replimune a Hold rating with no target price. On the same day, FactSet reported that Piper Sandler analyst Allison Bratzel also gave the company a Hold rating with a US$4 price target. FactSet noted that on April 10, 2026, the below ratings were made:

Leerink Partners analyst Jonathan Chang gave the company a Hold rating with a US$2 target price.
WedBush analyst Robert Driscoll gave the company a Hold rating with a US$2 target price.
Jefferies analyst Roger Song shared a Buy rating with a US$2 target price.
BMO Capital analyst Evan David Seigerman gave the company a sell rating with a US$1 target price.

On April 13, 2026, H.C. Wainwright & Co. analysts Robert Burns and Raghuram Selvaraju, Ph.D., downgraded Replimune's stock from a 'Buy' rating to a 'Sell' rating, removing their price target. They cited the ". . . FDA Complete Response Letter (CRL) for the company's lead asset RP-1 that has materially extended — and potentially eliminated — the drug's path to market." [OWNERSHIP_CHART-9741]

In reference to the company's financial situation, Burns and Selvaraju wrote, " With no product revenue projected through at least fiscal year 2027, Replimune continues to operate as a pre-commercial entity. The company reported a net loss of US$247.3 million for fiscal year 2025 and is projected to widen its loss to approximately US$307.7 million in fiscal year 2026, before improving modestly to approximately US$250.3 million in fiscal year 2027. Research and development expenses are expected to remain the dominant cost driver, projected at approximately US$219.3 million in fiscal year 2026 and US$187.2 million in fiscal year 2027. On the balance sheet, Replimune held approximately US$269.1 million in cash against US$46.0 million in total debt as of the report date, providing some near-term runway but a limited cushion given the extended development timeline now anticipated."

Ownership & Share Structure¹

Replimune Group Inc. has a market cap of US$140.37 million, with 82.57 million shares outstanding. The company's 52-week range is US$1.50-US$13.24. The stock is wholly owned, with Institutions holding 97.32% of shares and Management & Insiders owning 2.68% of shares.

Important Disclosures:

Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

For additional disclosures, please click here.

1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

( Companies Mentioned: REPL:NASDAQ, )

Biotech Firm Advances Voice-Based Intoxication Tech Aiming to Revolutionize Medical Diagnostics

Mon, 13 Apr 2026 00:00:00 PST

Source: Streetwise Reports 04/13/2026

MindBio Therapeutics Corp.'s (MBIO:CSE; MBQIF:OTCQB; WF6:Frankfurt) AI voice model analyzes 140+ biomarkers, targeting non-invasive impairment screening.

MindBio Therapeutics Corp. (MBIO:CSE; MBQIF:OTCQB; WF6:Frankfurt) announced the completion of its new proprietary technology, Intox Collect^TM, a software that has enhanced the company's ability to detect and analyze the human central nervous system for a range of stimulants and depressants. On April 12, 2026, MindBio released a statement, saying,"In a world first, MindBio has developed an AI model that uses over 50 million data points (with that number expected to triple in the coming months) to predict drug and alcohol intoxication with remarkable accuracy, just by using the human voice. The completion of the company's new Intox CollectTM software allows the company to expand its prediction technology to a range of substances that affect the central nervous system, which, when consumed, impair cognition and human performance."

MindBio CEO Justin Hanka said about the news release, "The digital health diagnostics market represents a significant opportunity for MindBio to leverage its diagnostics technology with a first mover advantage in speech analytics for drug and alcohol intoxication detection. Our technology gives us a significant advantage in using voice to develop non-invasive health diagnostic tools."

MindBio Therapeutics Corp. is a Canadian biotech company intent on leveraging AI technology to analyze the human voice and detect impairment due to alcohol or illicit substances. Through the development of personal-use smartphone apps and mass-use corporate kiosks, MindBio is developing software that could help reduce accidents due to intoxication. The proprietary technology analyzes up to 140 vocal markers, focusing on parameters like spectral entropy, jitter, and shimmer, and speech rate variability.

The company describes its vision as developing ". . . A world where voice-based biomarkers are a standard component of healthcare—enabling continuous, passive health monitoring that catches problems early and improves outcomes for everyone, everywhere."

Currently, MindBio is creating inroads into the mining, aviation, construction, and law enforcement industries.

Addiction and Abuse in the Mining Sector

MindBio recently stated that screening for drug and alcohol intoxication at scale can prevent unnecessary harm through the detection of physiological decline. The company offered statistics that estimate a 10-20x increase in suicide risk while heavily intoxicated. It also claims that 40-50% of suicides involve alcohol, noting that the global alcohol harm cost sits at around US$1.6 trillion.

The risk of addiction and drug or alcohol abuse rises due to many factors, like parental monitoring, peer pressure, socioeconomic status, type of substance, stress, drug availability, and occupation, according to the American Addiction Centers. They cite the mining industry as "particularly conducive to substance abuse," due to job stress, physical demand, and injuries from prolonged work.

The entire biotech sector has shown exponential growth recently. "The global biotechnology market size was estimated at US$1.55 trillion in 2023 and is projected to reach US$3.88 trillion by 2030, growing at a CAGR of 13.96% from 2024 to 2030," said Grandview Research. In September 2025, Market and Market Analysis considered the AI detector market as "undergoing rapid expansion, with estimates projecting a substantial market value surge from approximately US$0.58 billion in 2025 to US$2.06 billion in 2030."

MindBio is Catching Analysts' Attention

On February 3, 2026, The Canadian Mining Journal reported that, "Studies in Chile reveal that alcohol consumption among mining workers exceeds 75%, with over 40% classified as problem drinkers." The article noted the potential efficacy of MindBio's kiosks in accident prevention, saying, "A single preventable incident can cost a mining company hundreds of millions in lost production, union boycotts, and insurance and medical expenses."

Knowlton Thomas, for Techcouver, wrote on January 26, 2026, that ". . . Leveraging more than 50 million data points from drug and alcohol clinical trials and proprietary algorithms across over 100 acoustic parameters, MindBio is now commercializing its technology."

¹Most recently, Stewart Thomson gave Streetwise Reports a contributed technical analyst opinion about MindBio on April 1, 2026. Thomson rated MindBio as a 'Strong Speculative Buy', with a short-term price target of CA$1.70, a medium-term price target of CA$3.00, and a long-term price target of CA$6.00. [OWNERSHIP_CHART-11539]

Building Relationships Across Industries

According to the company's latest presentation, MindBio intends to deploy its Edge AI voice drug and alcohol detection kiosks in June 2026, hoping to test at a large scale in zero-tolerance industries. The company is already partnering with mines in South America and is in talks with other industries.

While enterprise and telehealth capacities are in development right now, future plans include disease prediction and health optimization.

Ownership & Share Information²

MindBio Therapeutics Corp. has a market cap of CA$7.9 million, with 7.28 million shares outstanding. The company's 52-week trading range is CA$0.50-CA$8.00.

Management and Insiders own approximately 5.80% of MindBio Therapeutics shares, with Retail investors holding the remaining 94.20%.

Important Disclosures:

MindBio Therapeutics Inc. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000.
As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of MindBio Therapeutics Inc.
Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

1. Disclosure for the quote from the Stewart Thomson article published on April 1, 2026

For the quoted article April 1, 2026, MindBio Therapeutics Corp. has paid Street Smart, an affiliate of Streetwise Reports, US$3,500.
Author Certification and Compensation: Stewart Thomson was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Thomson is a retired Canadian financial advisor who has passed the Canadian Securities Course as well as additional technical analysis courses that were mandated by his former employer and approved by Ontario regulatory bodies. For the past 15 years, he has been editing and writing numerous financial newsletters that have a strong focus on charts. The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.

2. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

( Companies Mentioned: MBIO:CSE; MBQIF:OTCQB; WF6:Frankfurt, )

MA Biotech Co. Downgraded to Sell After Second FDA CRL for RP-1 Melanoma BLA

Mon, 13 Apr 2026 00:00:00 PST

Source: Robert Burns 04/13/2026

H.C. Wainwright downgraded Replimune Group (REPL:NASDAQ) to Sell after the FDA issued a second Complete Response Letter for the RP-1 plus Opdivo BLA in anti-PD1 failed melanoma.

Published April 13, 2026, H.C. Wainwright & Co. analysts Robert Burns and Raghuram Selvaraju, Ph.D. downgraded Replimune Group Inc. (REPL:NASDAQ) to Sell from Buy and removed their price target, citing a second FDA Complete Response Letter (CRL) for the company's lead asset RP-1 that has materially extended — and potentially eliminated — the drug's path to market.

Late last week, Replimune announced that the FDA issued a second CRL in response to the company's resubmitted Biologics License Application (BLA) for RP-1 combined with Opdivo (nivolumab) in anti-PD1 failed melanoma patients. The development caught the market off guard, as the FDA had previously characterized the BLA resubmission as a comprehensive response to the first CRL issued in July 2025. The second CRL cited three principal concerns: the inability to isolate RP-1's individual contribution when administered in combination with nivolumab; heterogeneity in the patient population that prevented adequate interpretation of results; and the absence of a well-established historical control limiting response rate comparisons.

The analysts expressed concern that the issues raised — particularly the inability to isolate RP-1's contribution — will likely extend to the ongoing Phase 3 IGNYTE-3 trial evaluating RP-1 plus Opdivo versus the physician's treatment choice, meaning that the trial may ultimately face the same regulatory obstacles. The analysts stated that it "may take until late in this decade" to furnish the agency with the data it appears to be demanding, and cautioned that "there can be no assurance that Replimune would be able to accomplish this."

With no product revenue projected through at least fiscal year 2027, Replimune continues to operate as a pre-commercial entity. The company reported a net loss of US$247.3 million for fiscal year 2025 and is projected to widen its loss to approximately US$307.7 million in fiscal year 2026, before improving modestly to approximately US$250.3 million in fiscal year 2027. Research and development expenses are expected to remain the dominant cost driver, projected at approximately US$219.3 million in fiscal year 2026 and US$187.2 million in fiscal year 2027. On the balance sheet, Replimune held approximately US$269.1 million in cash against US$46.0 million in total debt as of the report date, providing some near-term runway but a limited cushion given the extended development timeline now anticipated.

The analysts withdrew their prior discounted cash flow (DCF)-based valuation, which had incorporated an 85% probability of approval for RP-1, a 12% discount rate, and a 29% effective tax rate. With the price target removed entirely, the firm cited the substantive likelihood that "the FDA remains antipathic to Replimune's attempts to secure RP1 approval" as the basis for suspending formal valuation. REPL shares were trading at US$4.76 at the time of the report, well below the 52-week high of US$13.24, with a 52-week low of US$2.68.

Upside risks identified by the analysts include the possibility of an unexpectedly short timeline for resubmission, FDA willingness to accept incremental clinical data in support of approval, a near-term positive regulatory decision, and favorable data from Replimune's early-stage pipeline of oncolytic virus (OV) candidates.

Important Disclosures:

This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

For additional disclosures, please click here.

Disclosures for H.C. Wainwright & Co., Replimune Group Inc., April 13, 2026

This material is confidential and intended for use by Institutional Accounts as defined in FINRA Rule 4512(c). It may also be privileged or otherwise protected by work product immunity or other legal rules. If you have received it by mistake, please let us know by e-mail reply to unsubscribe@hcwresearch.com and delete it from your system; you may not copy this message or disclose its contents to anyone. The integrity and security of this message cannot be guaranteed on the Internet. H.C. WAINWRIGHT & CO, LLC RATING SYSTEM: H.C. Wainwright employs a three tier rating system for evaluating both the potential return and risk associated with owning common equity shares of rated firms. The expected return of any given equity is measured on a RELATIVE basis of other companies in the same sector. The price objective is calculated to estimate the potential movements in price that a given equity could reach provided certain targets are met over a defined time horizon. Price objectives are subject to external factors including industry events and market volatility. RETURN ASSESSMENT Market Outperform (Buy): The common stock of the company is expected to outperform a passive index comprised of all the common stock of companies within the same sector. Market Perform (Neutral): The common stock of the company is expected to mimic the performance of a passive index comprised of all the common stock of companies within the same sector. Market Underperform (Sell): The common stock of the company is expected to underperform a passive index comprised of all the common stock of companies within the same sector. Rating and Price Target History for: Replimune Group, Inc. (REPL-US) as of 04-10-2026 25 20 15 10 5 0 Q1 Q2 Q3 2024 Q1 Q2 Q3 2025 Q1 Q2 Q3 2026 Q1 Q2 BUY:$50.00 02/10/23 BUY:$51.00 06/05/23 BUY:$50.00 08/07/23 BUY:$48.00 11/13/23 BUY:$10.00 12/08/23 BUY:$12.00 02/15/24 BUY:$17.00 06/07/24 BUY:$21.00 01/22/25 BUY:$22.00 02/13/25 NEUTRAL:NA 07/23/25 BUY:$12.00 10/27/25 Investment Banking Services include, but are not limited to, acting as a manager/co-manager in the underwriting or placement of securities, acting as financial advisor, and/or providing corporate finance or capital markets-related services to a company or one of its affiliates or subsidiaries within the past 12 months. Distribution of Ratings Table as of April 10, 2026 IB Service/Past 12 Months Ratings Count Percent Count Percent Buy 555 83.08% 159 28.65% Neutral 62 9.28% 10 16.13% Sell 1 0.15% 0 0.00% Under Review 50 7.49% 15 30.00% H.C. Wainwright & Co, LLC (the “Firm”) is a member of FINRA and SIPC and a registered U.S. Broker-Dealer. I, Robert Burns and Raghuram Selvaraju, Ph.D. , certify that 1) all of the views expressed in this report accurately reflect my personal views about any and all subject securities or issuers discussed; and 2) no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report; and 3) neither myself nor any members of my household is an officer, director or advisory board member of these companies. None of the research analysts or the research analyst’s household has a financial interest in the securities of Replimune Group, Inc. (including, without limitation, any option, right, warrant, future, long or short position). As of March 31, 2026 neither the Firm nor its affiliates beneficially own 1% or more of any class of common equity securities of Replimune Group, Inc.. Neither the research analyst nor the Firm knows or has reason to know of any other material conflict of interest at the time of publication of this research report.

The research analyst principally responsible for preparation of the report does not receive compensation that is based upon any specific investment banking services or transaction but is compensated based on factors including total revenue and profitability of the Firm, a substantial portion of which is derived from investment banking services. The Firm or its affiliates did not receive compensation from Replimune Group, Inc. for investment banking services within twelve months before, but will seek compensation from the companies mentioned in this report for investment banking services within three months following publication of the research report. The Firm does not make a market in Replimune Group, Inc. as of the date of this research report. The securities of the company discussed in this report may be unsuitable for investors depending on their specific investment objectives and financial position. Past performance is no guarantee of future results. This report is offered for informational purposes only, and does not constitute an offer or solicitation to buy or sell any securities discussed herein in any jurisdiction where such would be prohibited. This research report is not intended to provide tax advice or to be used to provide tax advice to any person. Electronic versions of H.C. Wainwright & Co., LLC research reports are made available to all clients simultaneously. No part of this report may be reproduced in any form without the expressed permission of H.C. Wainwright & Co., LLC. Additional information available upon request. H.C. Wainwright & Co., LLC does not provide individually tailored investment advice in research reports. This research report is not intended to provide personal investment advice and it does not take into account the specific investment objectives, financial situation and the particular needs of any specific person. Investors should seek financial advice regarding the appropriateness of investing in financial instruments and implementing investment strategies discussed or recommended in this research report. H.C. Wainwright & Co., LLC’s and its affiliates’ salespeople, traders, and other professionals may provide oral or written market commentary or trading strategies that reflect opinions that are contrary to the opinions expressed in this research report. H.C. Wainwright & Co., LLC and its affiliates, officers, directors, and employees, excluding its analysts, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives (including options and warrants) thereof of covered companies referred to in this research report. The information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data on the company, industry or security discussed in the report. All opinions and estimates included in this report constitute the analyst’s judgment as of the date of this report and are subject to change without notice. Securities and other financial instruments discussed in this research report: may lose value; are not insured by the Federal Deposit Insurance Corporation; and are subject to investment risks, including possible loss of the principal amount invested.

( Companies Mentioned: REPL:NASDAQ, )

What Do Analysts Think About the Biopharma Set on Transforming Psychiatry

Thu, 09 Apr 2026 00:00:00 PST

Source: Streetwise Reports 04/09/2026

Alto Neuroscience Inc. (ANRO:NYSE) is a clinical-stage biopharmaceutical company focused on transforming psychiatry through novel drug candidates.

Alto Neuroscience Inc. (ANRO:NYSE) is a clinical-stage biopharmaceutical company focused on transforming psychiatry through novel drug candidates for a range of mental health conditions including bipolar depression, major depressive disorder, treatment-resistant depression, and schizophrenia.

The company's Precision Psychiatry Platform utilizes neurobiology, analyzing EEG activity, neurocognitive assessments, wearable data, and other factors to identify patients likely to respond to its treatments.

Alto describes itself as ". . . on a mission to redefine psychiatry by leveraging neurobiology to develop personalized and highly effective treatment options. The company is headquartered in California.

¹From the following analysts' ratings, Street Smart came up with an average rating of Buy/Outperform/Hold, with an average target price of US$35.17/CA$48.53.

Myles Minter — William Blair

Alto's ALTO-207 is capturing attention, particularly due to encouraging results from the PAX-D clinical trial for treatment-resistant depression (TRD) and its notable efficacy on anhedonia as shown in the PRIME-PRAXOL study, according to a research note by Myles Minter for William Blair on March 19.

Following a substantial US$120 million PIPE in March, the company has secured funding for ALTO-207 through critical studies up to a potential NDA submission, effectively eliminating any financial uncertainties.

In the competitive landscape, Johnson & Johnson’s Spravato, a branded therapy for TRD, has set a high industry standard, reporting US$1.7 billion in revenue in 2025, a 57% increase from the previous year, with projected peak sales of about US$3.5 billion. Despite some safety concerns, it remains a leading treatment. ALTO-207, however, stands out with its unique mechanism and oral pill formulation that poses no dissociative risks or REMS requirements, positioning it distinctively in the TRD market, the analyst wrote.

Clinical studies have shown ALTO-207, particularly in combination with pramipexole, to produce significant treatment effects, surpassing those seen with psychedelics, which have demonstrated more modest outcomes when actual unblinding is considered. This efficacy is supported by recent meta-analyses and studies that have documented the shortcomings of psychedelic treatments.

Looking ahead, Alto is poised to release top-line data from the Phase II proof-of-concept study of ALTO-101, targeting cognitive impairment associated with schizophrenia, and from a Phase IIb study of ALTO-300 as an adjunct treatment for major depressive disorder (MDD) in mid-2026, Minter said. These updates are eagerly anticipated by investors as key indicators of the company's ongoing progress.

The company's robust pipeline and solid financial standing are expected to potentially lead to significant clinical successes and substantial price appreciation, the note reported.

New developments include the upcoming Phase IIb trial of ALTO-207 in TRD, set to begin in the first half of 2026. This placebo-controlled study will involve approximately 178 TRD patients who have not responded adequately to previous treatments. The trial will include a dose titration period aiming for a daily dose of 3.2 mg pramipexole/15 mg ondansetron.

Additionally, in January 2026, Alto expanded its intellectual property with a new method-of-treatment patent for ALTO-207, enhancing its market position. The company's strategic use of funding from the recent PIPE financing is directed towards advancing ALTO-207 through Phase III studies and towards NDA submission, ensuring continued development and testing of this promising therapeutic option.

Alto Neuroscience has recently unveiled details about the upcoming Phase IIb trial for ALTO-207, set to begin in the first half of 2026. This crucial trial will involve approximately 178 patients suffering from treatment-resistant depression (TRD) and will assess ALTO-207 as an adjunctive treatment in a parallel-group, placebo-controlled setting. Participants, who will have experienced between two to five prior treatment failures and have a MADRS score of 25 or higher, will continue on their baseline antidepressant medications throughout the trial. The 8-week treatment period will include a dose titration of ALTO-207 to a target daily dose of 3.2 mg pramipexole/15 mg ondansetron.

In financial developments, Alto has secured significant funding through a March PIPE financing, raising US$120 million. These funds are earmarked for advancing ALTO-207 through the necessary Phase IIb and III studies and towards a potential NDA submission, ensuring the project is well-capitalized through crucial stages of development.

Furthermore, Alto has broadened its intellectual property portfolio with the issuance of a new method-of-treatment patent for ALTO-207 in January 2026. This expansion is part of Alto's broader strategy to solidify its standing in the neuropsychiatry drug development arena.

Despite the setback from the failure of ALTO-100, Alto remains committed to its Precision Psychiatry Platform. The company does not view this single failure as indicative of the overall strategy’s invalidity. Looking ahead, Alto is focused on the forthcoming results from ALTO-300 in MDD, which utilizes EEG-based biomarkers identified by Alto Scope in conjunction with the commercially approved antidepressant, agomelatine. Notably, ALTO-207’s development does not rely on biomarkers, but it benefits from the inherent dopamine dysregulation in TRD patients, as underscored by promising results from the PAX-D trial.

According to Minter, Alto’s strategic positioning within the neuropsychiatry sector, combined with its innovative approach and robust funding, presents an attractive risk/reward profile for investors. He rated the company’s shares as Outperform, with a revised probability-adjusted net present value (NPV) fair value of US$40.35 per share, a 79% return from the price at time of writing, reflecting confidence in its potential to navigate the complexities of drug development and achieve significant clinical and commercial success.

Patrick Trucchio — H.C. Wainwright & Co.

Alto Neuroscience is poised for a dynamic 2026, filled with several crucial data releases, according to a March 18 research note by H.C. Wainwright & Co. Analyst Patrick Trucchio.

The company announced its fourth-quarter results for 2025 on March 16, highlighting substantial financial, clinical, and regulatory progress in its advanced-stage programs. Notably, as of December 31, Alto had a cash reserve of US$177 million, anticipated to support operations until 2028 and cover various significant data readouts, he said. These include top-line results from three key trials: the Phase 2 proof of concept (POC) trial for ALTO-101 targeting cognitive impairment associated with schizophrenia (CIAS) expected around the first quarter of 2026, the Phase 2b trial for ALTO-300 in major depressive disorder (MDD) anticipated by mid-2026, and the Phase 2b trial for ALTO-100 in bipolar depression (BPD) expected in the second half of 2026.

Additionally, on March 16, Alto secured an extra US$120 million through private placement financing. This funding is earmarked for advancing ALTO-207 in treatment-resistant depression (TRD) through a Phase 3 trial slated to begin in early 2027, potentially leading to a new drug application (NDA) submission, with projected pro forma cash reaching approximately US$275 million, the analyst noted.

Earlier in the year, on January 13, Alto presented new analyses from an independent data set that reinforced previous findings, supporting Theta-ITC as a robust electroencephalography (EEG) marker for detecting differences in schizophrenia cases. This analysis helps de-risk the forthcoming ALTO-101 POC data, according to the note.

Viewing the broader picture, precision neuropsychiatry is seen as a viable solution to the structural limitations currently faced in psychiatric treatment. Alto's innovative programs are strategically positioned to transform the treatment landscape.

Financially, Alto is well-prepared for these upcoming trials, having secured the US$120 million through a private placement financing. This funding is expected to cover the costs of the Phase 3 trial and any subsequent steps towards a New Drug Application (NDA) submission, should the trials prove successful.

Additionally, Alto has recently enhanced its intellectual property stance, with new patent claims issued that could extend into the mid-2040s, further solidifying its market position, the report said.

From an investment perspective, Alto Neuroscience presents a compelling opportunity. The company's shares are valued at US$25 each, based on a sum-of-the-parts (SOTP) and risk-adjusted discounted cash flow (DCF) analysis. This valuation considers the probabilities of success for its various programs: 30% for both ALTO-300 in major depressive disorder (MDD) and ALTO-207 in TRD, and 10% for ALTO-100 in bipolar depression (BPD). Planned annual equity raises of $150 million from 2027 to 2029 are expected to support clinical development and potential commercial launch expenses, though they may dilute current shareholders.

Employing a 12% discount rate and a 6x terminal multiple, and factoring in the value of the underlying biomarker platform and net cash, the total firm value is estimated at approximately US$2 billion, supporting a US$50 price target, a 99% return from the time of writing. This valuation underscores Alto's potential as a first-in-class oral therapy for TRD with blockbuster prospects, should the pivotal data replicate earlier phase signals.

Paul Matteis — Stifel

According to an updated research note on March 17, Stifel Analyst Paul Matteis noted the firm maintained a Buy rating on ANRO following its fourth-quarter 2025 earnings, which aligned with expectations. His target price is US$33 per share, a 48% return from the price at the time the note was written.

A critical highlight for ANRO is its progression with the ALTO-207 (pramiprexole+ondansetron) treatment for treatment-resistant depression (TRD), set to commence a Phase 2b trial in the first half of 2026. ALTO-207 stands out as ANRO's most promising asset, bolstered by strong data supporting pramipexole's effectiveness in treating depression and successful precedents set by dual-drug combinations in neuropsychiatry, such as Auvelity and KarXT. The accelerated development timeline anticipates a Phase 3 trial beginning in early 2027.

Additionally, ALTO-300, which utilizes agomelatine, is on track to deliver Phase 2b results for major depressive disorder (MDD) by mid-2026, Matteis wrote. The established efficacy of agomelatine positions ANRO for potential success in this trial. Moreover, top-line data from the ALTO-101 study in cognitive impairment associated with schizophrenia (CIAS) are expected by the end of the first quarter of 2026. This study is a biomarker-based trial with relatively modest expectations.

A significant financial development for ANRO was the announcement of a PIPE financing, which extends the company’s cash runway. This financing is crucial as it supports the continued development of ALTO-207 through its upcoming Phase 3 trial and potential New Drug Application (NDA) submission.

ALTO-207's Phase 2b trial is designed as a placebo-controlled, adjunctive study with about 178 TRD patients, assessing changes in the Montgomery Åsberg Depression Rating Scale (MADRS) over eight weeks, with results anticipated in the second half of 2027. ANRO has also secured a new method-of-treatment patent, bolstering its intellectual property portfolio into the mid-2040s.

For ALTO-300, the ongoing Phase 2b trial leverages an EEG biomarker signature to identify likely responders, enhancing the trial's design based on interim analysis findings. This trial is expected to report in mid-2026 with a cohort of 200 biomarker-positive patients, the note said.

The broader pipeline includes ALTO-101, with top-line data expected soon, and ALTO-100's Phase 2b trial in bipolar depression (BPD) slated for the second half of 2026. Each asset presents a favorable risk-reward scenario, particularly ALTO-207, which significantly influences the company's valuation.

Following the earnings announcement, ANRO also disclosed a substantial PIPE financing of approximately US$120 million, earmarked to support ALTO-207 through its Phase 3 trial and towards an NDA. This financing boosts ANRO’s projected cash reserves to approximately US$275 million as of the end of February, ensuring robust financial footing for upcoming clinical milestones.

Andrew Tsai — Jefferies

ANRO's precision psychiatry platform is set to deliver multiple critical data readouts throughout 2026 and 2027, according to a research report by Analyst Andrew Tsai for Jefferies on March 16.

At the end of the first quarter of 2026, ALTO-101, which is a PDE4 patch, is expected to provide Phase II data for cognitive impairment associated with schizophrenia (CIAS). This data may reveal a significant correlation between EEG, serving as an efficacy biomarker, and cognitive functions, the analyst said.

By mid-2026, ALTO-300, an oral formulation of agomelatine, will yield Phase IIb data for major depressive disorder (MDD). In the second half of 2026, ALTO-100, an oral BDNF treatment, is anticipated to produce Phase IIb data for bipolar depression (BPD).

Lastly, in the second half of 2027, ALTO-207, an oral dopamine combination therapy, is scheduled to release Phase IIb data as an adjunct treatment for treatment-resistant depression (TRD), Tsai said.

ANRO is gearing up for a significant year with multiple critical trials scheduled, the note continued. For its ALTO-207 treatment, a combination of pramipexole and ondansetron designed for treatment-resistant depression (TRD), a pivotal 8-week Phase IIb trial is set to commence in the first half of 2026, with results expected in the latter half of 2027. This will be followed by the initiation of a Phase III trial in early 2027, with data anticipated in 2028. ANRO acquired ALTO-207 from Chase Tx in June 2025 for less than $2 million, leveraging the combination to mitigate gastrointestinal side effects like nausea and vomiting associated with pramipexole. The upcoming Phase IIb trial will involve 178 TRD patients who have experienced 2 to 5 prior treatment failures and will assess the efficacy of ALTO-207, with the primary endpoint being the change from baseline in the Montgomery Åsberg Depression Rating Scale (MADRS).

To optimize safety and tolerability, the trial will include a titration period extending pramipexole to 3.2mg daily over 13 days, a pace slower than previous trials, according to the analyst. This approach aims to maintain adverse effects at minimal levels above placebo. The trial is designed to detect an effect size of d=0.30-0.35, building on previous positive outcomes from Phase IIa trials and a 48-week PAX-D UK study that demonstrated significant improvements in TRD symptoms.[OWNERSHIP_CHART-11463]

Separately, ANRO is preparing to initiate a Phase I dose-ranging study for ondansetron and a 13-week bridging toxicology study to facilitate the later stages of the Phase IIb and III trials. These studies are part of ANRO’s broader strategy to potentially secure a comprehensive TRD label for ALTO-207, while also exploring biomarkers to enhance treatment efficacy.

Additionally, ALTO-101, a PDE4 patch targeting cognitive impairment associated with schizophrenia (CIAS), is expected to deliver Phase II data by the end of the first quarter of 2026. This trial involves a crossover design where patients receive either ALTO-101 or a placebo for 10 days, followed by a washout and then the alternate treatment. The study aims to demonstrate significant effects on theta EEG and potentially cognition, providing further insights into the treatment’s impact on schizophrenia-related cognitive impairments.

Tsai rated the stock Buy with a US$35 per share price target, a 57% return at the time of writing.

More Analyst Ratings

Other analysts with ratings on the stock include Wedbush Securities' Laura Chico, with a hold Hold recommendation with a US$21 target price; TD Cowen's Ritu Baral with a Buy recommendation and no price target; BTIG's Thomas Shrader with a Buy recommendation and a US$28 target price; Chardan's Keay Nakae with a Buy recommendation and a US$30 target price; and JonesTrading's Justin Walsh with a Buy recommendation and a U$44 target price, Factset reported.

Ownership and Share Structure²

Alto Neuroscience Inc. has a market cap of US$693.54 million, with 31.95 million shares outstanding.

The company has a 52-week range of US$1.90-US$25.17.

Management and insiders own 6.25% of shares, while institutions own 76.87%. The remaining shares are retail.

Important Disclosures:

As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Alto Neuroscience Inc.
Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
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1. Street Smart Average Price Target Formula

Street Smart Consulting has attained an average price target and rating for this company from our system's formula. The system calculates an average of all analyst target prices, which are originally in Canadian or U.S. dollars, then converts them to both dollar amounts. For the recommendation, it selects whichever rating (Buy, Sell, Hold, etc.) appears most frequently among analysts. When there's a tie for the most common recommendation, all tied ratings are included.

2. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Disclosures for William Blair and Alto Neuroscience, March 19, 2026:

IMPORTANT DISCLOSURES William Blair or an affiliate is a market maker in the security of Alto Neuroscience, Inc. William Blair or an affiliate expects to receive or intends to seek compensation for investment banking services from Alto Neuroscience, Inc. or an affiliate within the next three months. William Blair or an affiliate received compensation for investment banking services or non-investment-banking services from Alto Neuroscience, Inc. within the last 12 months. Alto Neuroscience, Inc. is or was, within the last 12 months, an investment banking client of William Blair & Company and/or one or more of its affiliates. Officers and employees of William Blair or its affiliates (other than research analysts) may have a financial interest in the securities of Alto Neuroscience, Inc. This report is available in electronic form to registered users via R*Docs™ at https://williamblairlibrary.bluematrix.com or www.williamblair.com. Please contact us at +1 312 236 1600 or consult https://www.williamblair.com/equity-research/coverage for all disclosures. Myles R. Minter attests that 1) all of the views expressed in this research report accurately reflect his/her personal views about any and all of the securities and companies covered by this report, and 2) no part of his/her compensation was, is, or will be related, directly or indirectly, to the specific recommendations or views expressed by him/her in this report. We seek to update our research as appropriate. Other than certain periodical industry reports, the majority of reports are published at irregular intervals as deemed appropriate by the research analyst.

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Disclosures for H.C. Wainwright & Co. and Alto Neuroscience, March 18, 2026:

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Disclosures for Stifel and Alto Neuroscience, March 17, 2026:

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Disclosures for Jefferies and Alto Neuroscience, March 16, 2026:

Analyst Certification: I, Andrew Tsai, certify that all of the views expressed in this research report accurately reflect my personal views about the subject security(ies) and subject company(ies). I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed in this research report. I, Matthew Barcus, Ph.D., certify that all of the views expressed in this research report accurately reflect my personal views about the subject security(ies) and subject company(ies). I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed in this research report. I, John Cox, Ph.D., certify that all of the views expressed in this research report accurately reflect my personal views about the subject security(ies) and subject company(ies). I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed in this research report. I, Brian Balchin, ACA, certify that all of the views expressed in this research report accurately reflect my personal views about the subject security(ies) and subject company(ies). I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed in this research report. As is the case with all Jefferies employees, the analyst(s) responsible for the coverage of the financial instruments discussed in this report receives compensation based in part on the overall performance of the firm, including investment banking income. We seek to update our research as appropriate, but various regulations may prevent us from doing so. Aside from certain industry reports published on a periodic basis, the large majority of reports are published at irregular intervals as appropriate in the analyst's judgement. Investment Recommendation Record (Article 3(1)e and Article 7 of MAR) Recommendation Published Recommendation Distributed March 16, 2026 10:41 A.M. March 16, 2026 10:41 A.M. Company Specific Disclosures Jefferies Financial Group Inc., its affiliates or subsidiaries expect to receive or intend to seek compensation for investment banking services from Alto Neuroscience, Inc. within the next three months. Within the past 12 months, Jefferies Financial Group Inc., its affiliates or subsidiaries has received compensation from investment banking services from Alto Neuroscience, Inc.. Within the past twelve months, Alto Neuroscience, Inc. has been a client of Jefferies Financial Group Inc., its affiliates or subsidiaries and investment banking services are being or have been provided. Jefferies Financial Group Inc., its affiliates or subsidiaries has acted as a manager or co-manager in the underwriting or placement of securities for Alto Neuroscience, Inc. or one of its affiliates within the past twelve months.

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( Companies Mentioned: ANRO:NYSE, )

Canadian Biotech Co. Appoints Elite Regulatory Expert for Chile Expansion

Wed, 08 Apr 2026 00:00:00 PST

Source: Streetwise Reports 04/08/2026

MindBio Therapeutics Corp. (MBIO:CSE; MBQIF:OTCQB; WF6:Frankfurt) appoints Chilean policy leader Felipe Leyton for the mining rollout of its AI impairment detection tech.

MindBio Therapeutics Corp. (MBIO:CSE; MBQIF:OTCQB; WF6:Frankfurt) announced the appointment of Chilean drug policy specialist Felipe Leyton as head of commercialization in its South American mining industry market. On February 24, 2026, OTC Markets called this move a ". . . significant inflection point as MindBio transitions from advanced development to commercial field deployment.

Felipe Leyton has served as the head of Chile's National Alcohol Prevention Unit, as well as the head of other national prevention programs. He was the lead of technical operation and implementation of Chile's Zero Tolerance alcohol law and contributed to the creation of Chile's national roadside drug testing program in 2019. Working with MindBio won't be Leyton's first foray into the mining industry, as he is currently a partner at TC Consulting. There, his job is to advise Chilean mining operators and governments on drug and alcohol prevention strategies, regulatory compliance, workplace health promotion, and industrial safety culture transformation.

In his role with MindBio, Leyton is anticipated to develop and finalize mining-specific testing protocols with the company, refine the AI prediction models, help strengthen the kiosk's ability to detect abuse of multiple illicit substances, develop licensing frameworks with working mines, and oversee deployment into said mines.

Justin Hanka, CEO of MindBio, said of Leyton's employment, "Mr. Leyton brings exceptional credibility, regulatory authority, and direct access to the mining industry. He helped design and implement Chile's Zero Tolerance alcohol framework at a national level, and he now leads the commercialization in a world-first AI voice-based impairment detection platform for mining. This marks a transition from technology development to structured commercial deployment. We believe this positions MindBio at the forefront of next-generation industrial safety solutions and Voice initiated health diagnostic technologies."

The Company's Development

MindBio Therapeutics is a Canadian biotech company levering AI technology to detect impairment from drugs or alcohol through voice analysis. The company is developing software that could help reduce intoxication-related accidents in both corporate and personal settings. Its proprietary technology analyzes over 140 vocal markers, sifting through parameters like spectral entropy, jitter, and shimmer, and speech rate variability.

The company hopes to help create ". . . a world where voice-based biomarkers are a standard component of healthcare — enabling continuous, passive health monitoring that catches problems early and improves outcomes for everyone, everywhere."

MindBio's personal-use app, Booze AI, is described as "the world's first voice-activated AI-powered blood alcohol test" and is deployed via smartphone. The app is now live and available to the public. The company aims to promote social responsibility, personal awareness, and harm prevention among individual users.

In a move toward corporate usage, MindBio has focused its attention on commercial applications and is currently building Edge-AI kiosks to implement non-invasive intoxication screenings at large mining sites.

In a conversation with Streetwise Reports, MindBio CEO, Justin Hanka, discussed the expense of screening mining employees for intoxication: "In Chile, there are about 220,000 mining workers going on and off site every day. If you had to test 10% of them every day — that's 20,000 workers. If you were charged just US$1 for every test, that's US$20,000 a day, seven days a week . . . and that's just one part of the world, and two mining sites."

MindBio aims to provide the benefits of screening in zero-tolerance industries without the usual pitfalls of being invasive, time-consuming, and seemingly targeting. "The core reason why a company wants to do this is that 25% of incidents are caused by alcohol and drug intoxication, directly or indirectly," Hanka said to Streetwise Reports.

Currently, MindBio is developing inroads into the mining, aviation, construction, and law enforcement industries.

Addiction in the Mining Industry

In a recent market presentation, MindBio asserted that detecting drug and alcohol intoxication at scale can prevent unnecessary harm. The company discussed how physiological decline can put lives at risk, citing the dangers of impaired driving and a 10-20x increase in suicide risk while heavily intoxicated. MindBio also said that 40-50% of suicides involve alcohol, while the global alcohol harm cost sits at around US$1.6 trillion.

According to the American Addiction Centers, many factors contribute to addiction and abuse risk, like parental monitoring, peer pressure, socioeconomic status, type of substance, stress, drug availability, and occupation. They classified the mining industry as "particularly conducive to substance abuse," due to job stress, physical demand, and injuries from prolonged work.

Outside the addiction sphere, biotech, in general, has shown exponential growth recently. "The global biotechnology market size was estimated at US$1.55 trillion in 2023 and is projected to reach US$3.88 trillion by 2030, growing at a CAGR of 13.96% from 2024 to 2030," said Grandview Research. And AI is carving out its own place in biotech. In September 2025, Market and Market Analysis considered the AI detector market as "undergoing rapid expansion, with estimates projecting a substantial market value surge from approximately US$0.58 billion in 2025 to US$2.06 billion in 2030."

Industry Professionals Watching Rollout

¹"AI stocks are bottoming, and flashing buy signals . . . and MindBio leads the pack," wrote Stewart Thomson in a contributed technical analyst opinion for Streetwise Reports on April 1, 2026. Thomson argued that AI can be critical to creating a safer mining industry, saying, "MindBio's AI decodes these acoustic signatures to reveal physiological states and does it with unprecedented precision." Thomson gave MindBio a 'Strong Speculative Buy' rating and a long-term price target of CA$6.00.

On February 3, 2026, The Canadian Mining Journal reported that, "Studies in Chile reveal that alcohol consumption among mining workers exceeds 75%, with over 40% classified as problem drinkers." The article went on to say, "A single preventable incident can cost a mining company hundreds of millions in lost production, union boycotts, and insurance and medical expenses."

Knowlton Thomas, for Techcouver, wrote on January 26, 2026, that ". . . Leveraging more than 50 million data points from drug and alcohol clinical trials and proprietary algorithms across over 100 acoustic parameters, MindBio is now commercializing its technology."

"AI stocks are bottoming, and flashing buy signals . . . and MindBio leads the pack." [OWNERSHIP_CHART-11539]

Deployment Planned Mid-2026

In its investor presentation, MindBio states it aims to deploy its Edge AI voice drug and alcohol detection kiosks in June of 2026 in order to test at scale in zero-tolerance industries. The company is already partnering with mines in South America and is in talks with other industries.

While enterprise and telehealth capacities are in development right now, the company's announced future plans include disease prediction and health optimization.

Ownership & Share Structure²

MindBio Therapeutics Corp. has a market cap of CA$7.9 million, with 7.28 million shares outstanding. The company's 52-week trading range is CA$0.50-CA$8.00.

Management and Insiders own approximately 5.80% of MindBio Therapeutics shares, with Retail investors holding the remaining 94.20%.

Important Disclosures:

MindBio Therapeutics Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000.
As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of MindBio Therapeutics Corp.
Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

1. Disclosure for the quote from the Stewart Thomson article published on [Date]

For the quoted article April 1, 2026, MindBio Therapeutics Corp. has paid Street Smart, an affiliate of Streetwise Reports, US$3,500.
Author Certification and Compensation: Stewart Thomson was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Thomson is a retired Canadian financial advisor who has passed the Canadian Securities Course as well as additional technical analysis courses that were mandated by his former employer and approved by Ontario regulatory bodies. For the past 15 years, he has been editing and writing numerous financial newsletters that have a strong focus on charts. The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.

For additional disclosures, please click here.

2. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

( Companies Mentioned: MBIO:CSE; MBQIF:OTCQB; WF6:Frankfurt, )

California Biotech Co. Advances Depression Drug Breakthrough

Tue, 07 Apr 2026 00:00:00 PST

Source: Streetwise Reports 04/07/2026

Alto Neuroscience Inc. (ANRO:NYSE) pivots after mixed trial results, targeting treatment-resistant depression with analyst support and major market growth potential.

Alto Neuroscience Inc. (ANRO:NYSE) released results of its Phase 2 proof-of-concept trial for ALTO-101 on April 1, 2026. The proprietary drug is intended to treat cognitive impairment associated with schizophrenia (CIAS).

The trial showed that ALTO-101 did not achieve statistical significance, as observed on primary electroencephalography (EEG) or cognitive endpoints, compared to the placebo offered. However, the drug did show some improvements. ". . . The study demonstrated directional improvements across certain EEG measures, including a near-significant effect on theta-ITC (n=83, d=0.34, p=0.052) — a measure correlated with cognitive performance across datasets. In a pre-specified analysis in a more cognitively impaired subgroup (n=59), ALTO-101 exhibited nominally significant effects on theta-ITC compared to placebo (d=0.44, p=0.03). Further, certain EEG measures, including theta-ITC, showed improvements from day 5 to day 10 in the trial, suggesting a longer treatment period may elucidate greater effects," according to Businesswire on April 1, 2026. ALTO-101 also showed roughly equal rates of nausea and vomiting compared to the placebo, which is remarkable for a PDE4 inhibitor pharmaceutical class.

Alto has created an oral version of ALTO-101 and hopes to find uses for it within various partnerships.

The company is now turning its focus to a different drug, ALTO-207, which is formulated to battle treatment-resistant depression. Alto is on track to initiate a Phase 2b clinical trial in the first half of this year. The drug is ". . . a fixed-dose combination of pramipexole (a dopamine D3/D2 agonist) and ondansetron (a 5-HT3 antagonist), designed to enable rapid titration to higher pramipexole doses by mitigating dose-limiting nausea and vomiting."

In a statement by the company, Founder and CEO Amit Etkin, M.D., Ph.D. said, "While we are disappointed that the ALTO-101 data did not deliver the signal we were seeking, it is an exploratory program, and we remain heavily focused on ALTO-207, our most advanced program in development for treatment -resistant depression — which is supported by strong prior clinical data and external validation. We appreciate the commitment of the patients and clinical teams who participated in the ALTO-101 trial. We are excited about our oral, modified-release formulation of ALTO-101 to potentially provide benefit to patients, and we intend to seek partnering opportunities to drive future value for this program.”

Alto Neuroscience Inc. describes itself as ". . . on a mission to redefine psychiatry by leveraging neurobiology to develop personalized and highly effective treatment options. The company is headquartered in California.

A Growing Mental Health Market

"Mental health conditions are becoming more common due to various societal, economic, and personal stressors. According to the World Health Organization (WHO), depression is a leading cause of disability globally, affecting more than 280 million people. Similarly, anxiety disorders impact a large portion of the population, often co-occurring with depression and other mental health conditions," according to a 2025 article by Global Market Insights. Rates of depression climbed during the COVID-19 pandemic and have stayed elevated.

PR Newswire called out Alto Neuroscience as a major leader in bipolar depression treatment development in a March 11, 2026, article. The same article projected that the bipolar depression treatment market will grow in the next 10 years and noted that the U.S. was the largest market for depression treatment in 2025. America's young population, the 3.4% of Americans between 18 and 25, is the largest target market.

Improved diagnostic tools and stress-related lifestyle changes, along with genetic predisposition, are expected to increase cases of bipolar depression in the next 10 years.

An article from Behavioral Health News in the fall of 2025 said, "The global market for psychotropic medications is currently valued at US$23 billion, and it is expected to reach US$30 billion by 2030." This rise has been attributed to ". . . age-related increase in the prevalence of mood disorders, widespread use of antidepressant medications among primary care providers, and initiatives driven by health insurers that incentivize 'adherence to' prescription medication regimens, among many others."

Alto Neuroscience Gets Buy and Outperform Ratings

Multiple analysts have offered research reports about Alto Neuroscience over the past month, all focused on ALTO-207's upcoming trials.

On March 16, 2026, Andrew Tsai, Matthew Barcus, John Cox, and Brian Balchin of Jeffries released a research report giving Alto Neuroscience a 'Buy' rating, with a target price of US$35.00, which they raised from US$25.00. Their reasoning included upcoming data from drugs the company is developing to treat CIAS schizophrenia, major depressive disorder, and bipolar depression.

Stifel released a research report from Paul Matteis on March 17, 2026, stating, "We remain Buy rated on ANRO following their 4Q25 earnings, which was an in-line report. Most importantly for the stock, ANRO remains on track to initiate the ph2b TRD study for ALTO-207 (pramiprexole+ondansetron) in 1H26 — in our view, '207 is ANRO's most compelling asset given the strength of the data for pramipexole for depression, the successful examples of two drug combos in neuropsych (Auvelity, KarXT), and the accelerated development timelines, with a ph3 expected to initiate in early 2027." Matteis gave Alto Neuroscience a target price of US$33.00.

On March 18, 2026, Patric Trucchio of H.C. Wainwright & Co. gave Alto a 'Buy' rating. Upon seeing Alto's 2025 financial reports, Trucchio wrote, "We updated our model with the financials from the 2025 10-K filing, added the raise, and fine-tuned our expense estimates. Altogether, these changes left our price target unchanged at US$50 per ALT share."

Myles Minter, John Boyle, and Jake Batchelder of William Blair released a research report on March 19, 2026, and gave Alto an 'Outperform' rating. They said, "We view Alto's ALTO-207 as intriguing given promising PAX-D clinical trial data in treatment-resistant depression (TRD) and PRIME-PAXOL indicating leading efficacy on anhedonia." They listed an updated probability-adjusted NPV fair value of US$40.35.

FactSet reported the following analyst ratings and target prices:

On March 31, 2026, Jefferies analyst Andrew Tsai gave the company a Buy rating with a target price of US$35.
On April 1, 2026, JonesTrading analyst Justin Walsh gave the company a Buy rating with a target price of US$44.
On April 1, Chardan analyst Keay Nakae gave the company a Buy rating with a target price of US$30.
On April 1, 2026, BTIG analyst Thomas Shrade gave the company a Buy rating with a target price of US$28.
On April 1, 2026, TD Cowen analyst Ritu Baral gave the company a Buy rating with no target price.
On April 1, an unnamed analyst gave the company an Overweight rating with a target price of US$38.
On April 1, 2026, WedBush Laura Chico gave the company a Hold rating with a target price of US$21.
On April 1, 2026, H.C. Wainwright & Co. Analyst Patrick Trucchio gave the company a Buy rating and a target price of US$50.
On April 6, 2026, William Blair analyst Myles Minter gave the company a Buy rating with a target price of US$38.20.

Multiple Drugs in Development

Etkin discussed the company's intended forward direction in the April 1 press release, saying, "Alto enters this moment from a position of real strength: we have multiple clinical programs advancing, a US$275 million cash position, and ALTO-207 — which we believe is one of the most compelling and independently validated mechanisms in psychiatry — on track to imminently enter a Phase 2b trial. [OWNERSHIP_CHART-11463]

Our focus remains squarely on executing for patients and shareholders across our pipeline."

Alto believes it is poised to bring ALTO-207 into a Phase 3 trial after a 2025 FDA meeting. The company hopes to also complete an NDA submission for the drug. Another drug, ALTO-300, meant to treat major depressive disorder, is set to begin Phase 2b trials in mid-2026.

Ownership & Share Structure¹

Alto Neuroscience Inc. has a market cap of US$719.73 million, with 31.95 million shares outstanding.

The company has a 52-week range of US$1.64-US$25.17.

Management and Insiders own 6.44% of shares, while Institutions own 65.69%.

The remaining 27.97% of shares are Retail.

Important Disclosures:

As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Alto Neuroscience Inc.
Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

For additional disclosures, please click here.

1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

( Companies Mentioned: ANRO:NYSE, )

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