H.C. Wainwright analysts have issued Buy ratings for both Unicycive Therapeutics and ORIC Pharmaceuticals, citing promising clinical data and strategic advancements in their respective drug development programs. These ratings reflect confidence in the potential of their lead compounds to address unmet medical needs in chronic kidney disease and metastatic castration-resistant prostate cancer (mCRPC).
Unicycive Therapeutics' OLC for Hyperphosphatemia
Ed Arce from H.C. Wainwright maintained a Buy rating on Unicycive Therapeutics (UNCY), setting a price target of $4.00. The rating is primarily driven by the potential of oxylanthanum carbonate (OLC) as a treatment for hyperphosphatemia in patients with chronic kidney disease. OLC's key advantages include its small pill size and ease of administration without chewing, which significantly reduces the pill burden compared to existing phosphate binders. This is particularly important as high pill burden often leads to non-adherence among dialysis patients due to factors like large pill size and gastrointestinal side effects.
Pivotal trial results for OLC have demonstrated a significantly lower incidence of treatment-related adverse events leading to discontinuation compared to existing treatments like Fosrenol. These positive outcomes support expectations for FDA approval by the June 28, 2025, PDUFA date. Arce's valuation model estimates a price target of $4.00 per share, factoring in anticipated royalties from net sales and applying a discount rate that reflects the overall risks of Unicycive’s development pipeline.
ORIC Pharmaceuticals' ORIC-944 in mCRPC
Robert Burns, an analyst from H.C. Wainwright, reiterated the Buy rating on Oric Pharmaceuticals (ORIC), maintaining a price target of $21.00. This rating is based on promising data from recent studies of ORIC-944 in combination with apalutamide for patients with mCRPC. Initial results have shown significant decreases in prostate-specific antigen (PSA) levels, even in patients previously treated with androgen receptor pathway inhibitors and potentially chemotherapy.
Burns emphasized the durability of the responses, noting that some patients maintained PSA90 responses for extended periods, such as 38 weeks. The ongoing dose escalation study for both ORIC-944 combinations suggests potential improvements in overall response rates, contingent on maintaining a favorable safety profile. These encouraging clinical outcomes, along with the strategic advancement of their drug combinations, underpin Burns’ confidence in maintaining a Buy rating for Oric Pharmaceuticals.
