Maybank IB advises investors to look at Genting given its involvement in life sciences

NST Tue, Mar 05, 2024 12:12pm - 1 month View Original


KUALA LUMPUR: Maybank Investment Bank (Maybank IB) is advising investors to explore opportunities in Genting Bhd's involvement in the life sciences sector via TauRx Pharmaceuticals Ltd. 

  This recommendation precedes TauRx Pharmaceuticals' unveiling of complete findings from its Phase 3 LUCIDITY trial of hydromethylthionine mesylate (HMTM), aimed at tackling Alzheimer's disease, scheduled for March 7.

  "The company has started discussions with regulators in the UK and the US for product approval.

  "In an optimistic scenario where the product is approved and TauRx is valued at US$15 billion with no discount, the target price for Genting could increase to RM9.40.

  "Our estimates and RM5.73 target price remain the same, but we advise investors to buy now to position themselves early," it said.

  The investment bank said it provided detailed coverage of TauRx throughout 2022 on the Phase 3 LUCIDITY trial but was invalidated because the placebo showed medical benefits, making it difficult to measure HMTM's effectiveness compared to the placebo. 

  However, TauRx claims that HMTM is effective in slowing cognitive decline and reducing brain atrophy, is safe without causing brain bleeding, and will be more affordable if approved because it can be taken orally instead of intravenously.

  The life sciences company will present the 24-month data from its Phase 3 LUCIDITY trial of HMTM at the AD/PD 2024 Alzheimer's and Parkinson's Diseases Conference on March 7 in Lisbon, Portugal.

  This presentation will include details of the final 12-month open-label phase of the trial, following the initial results reported throughout 2022.

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Comments

Ma Rk
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Investors, traders =bankruptcy protection⬛
Mr Ong Ti Chiang
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Why not mayban buy,can made tons of money
eric leow
when IB start promote means they collected enough la
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