H.C. Wainwright notes VYNE Therapeutics (VYNE) disclosed positive topline data from the MAD portion of its Phase 1a SAD/MAD trial assessing VYN202 in healthy volunteers. VYN202 is the company’s orally administrated BETi with strong specificity for the BD2 domain of BRD4. After reviewing the data, the firm maintains VYN202 represents significant clinical and value generating potential for the company and the stock. Wainwright thinks the data, in tandem with encouraging Phase 1 SAD data, robustly validate VYN202’s MoA, provides the necessary dosing and safety information required to move forward with subsequent clinical trials, and help de-risk these same studies. The firm has a Buy rating on the shares with a price target of $5.75.
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