H.C. Wainwright & Co. Initiates MedinCell’s Coverage with a “Buy” Recommendation
28 Junio 2024 - 12:30AM
Business Wire
H.C. Wainwright & Co.’s research department, one of the
leading players in the U.S. Healthcare sector, has initiated
coverage of Medincell
H.C. Wainwright & Co. equity research team led by
Raghuram Selvaraju, Ph.D., initiated coverage with a “Buy” rating
and price target of €24, a +80% potential increase from yesterday’s
stock price at market close
Regulatory News:
Medincell (Paris:MEDCL):
Christophe Douat, CEO of MedinCell, said: “The initiation
of coverage by HC Wainwright's equity research team and their
recommendation represent a significant validation of our company's
potential. It underscores the growing interest in Medincell within
the U.S. biopharmaceutical sector and strengthens our strategic
objective to enhance our visibility among American investors.”
The initiation of coverage by HC Wainwright & Co. occurs as
MedinCell has recently reached significant milestones, notably:
- US FDA approval and succesfull market launch by Teva of UZEDY®
for maintenance treatment of schizophgrenia in May 2023. UZEDY® is
the first royalty-generating product based on MedinCell’s
long-acting injectable (LAI) technology approved;
- Positive Phase 3 efficacy results evaluating mdc-TJK, a second
antipsychotic LAI developed with Teva, announced in May 2024.
Mdc-TJK aims to be the first long-acting injectable of olanzapine
with a favorable safety profile that could enable a large adoption
for treatment of patients with more severe forms of schizophrenia.
The comprehensive Phase 3 safety data package is expected in H2
2024;
- Start of a collaboration with AbbVie to co-develop and
commercialize up to six therapeutic products across multiple
therapeutic areas and indications announced in April 2024.
H.C. Wainwright & Co. is one of the U.S. oldest and most
trusted financial institutions. www.hcwco.com
About Medincell
Medincell is a clinical- and commercial-stage biopharmaceutical
licensing company developing long-acting injectable drugs in many
therapeutic areas. Our innovative treatments aim to guarantee
compliance with medical prescriptions, to improve the effectiveness
and accessibility of medicines, and to reduce their environmental
footprint. They combine active pharmaceutical ingredients with our
proprietary BEPO® technology which controls the delivery of a drug
at a therapeutic level for several days, weeks or months from the
subcutaneous or local injection of a simple deposit of a few
millimeters, entirely bioresorbable. The first treatment based on
BEPO® technology, intended for the treatment of schizophrenia, was
approved by the FDA in April 2023, and is now distributed in the
United States by Teva under the name UZEDY® (BEPO® technology is
licensed to Teva under the name SteadyTeq™). We collaborate with
leading pharmaceutical companies and foundations to improve global
health through new treatment options. Based in Montpellier,
Medincell currently employs more than 140 people representing more
than 25 different nationalities.
UZEDY® and SteadyTeq™ are registered trademarks of Teva
Pharmaceuticals.
www.medincell.com
This press release may contain forward-looking statements,
particularly concerning the progress of the Company's clinical
trials. Although the Company considers that its forecasts are based
on reasonable assumptions, any statements other than statements of
historical fact that may be contained in this press release
relating to future events are subject to change without notice, to
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materially from those anticipated or implied by such
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A list and description of such risks, hazards and uncertainties
can be found in the documents filed by the Company with the
Autorité des Marchés Financiers (AMF) pursuant to its regulatory
obligations, including in the Company's document de base,
registered with the AMF on September 4, 2018 under number I.
18-062, as well as in documents and reports to be published
subsequently by the Company. Furthermore, these forward-looking
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are cautioned not to place undue reliance on these forward-looking
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version on businesswire.com: https://www.businesswire.com/news/home/20240627234755/en/
David Heuzé - Head of Corporate and Financial Communications,
and ESG david.heuze@medincell.com / +33 (0)6 83 25 21 86
Grace Kim - Head of US Financial Strategy and IR
grace.kim@medincell.com / +1 (646) 991-4023 Investors Relations
France Louis-Victor Delouvrier/Alban Dufumier
medincell@newcap.eu / +33 (0)1 44 71 94 94 Media Relations
Nicolas Mérigeau medincell@newcap.eu / +33 (0)1 44 71 94
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