Market Overview

Millendo's Lead Asset Could Address Unmet PWS Need, Wedbush Says


Millendo Therapeutics Inc’s (NASDAQ: MLND) lead asset livoletide is in a registrational study (ZEPHYR) for the treatment of PraderWilli Syndrome (PWS), which is an unmet need, according to Wedbush.

The Analyst

Wedbush’s Laura Chico initiated coverage of Millendo Therapeutics with an Outperform rating and a price target of $24.

The Thesis

Although Millendo Therapeutics is a newer player in the biotech public market and the PWS market is small, it represents a so-far unmet need, Chico said in the note.

About 10,000 patients suffer from PWS in the US, and there are no treatments available for the hallmark syndrome, hyperphagia, the analyst mentioned. She added that in Phase 2a, livoletide data demonstrated “a clinically meaningful change” among subjects at home versus placebo.

Livoletide is now in the registrational Phase 2/3 ZEPHYR study, the data from which is scheduled to be released in the first half of 2020. Additional data is also forthcoming for the company’s second asset, nevanimibe. With these two releases, Millendo Therapeutics is “approaching an important value-creating period,” Chico wrote.

While the company’s share price has been under pressure since June, declining 30%, livoletide’s success could lend upside to the stock.

Price Action

Shares of Millendo Therapeutics fell 0.5% to $10.59 at time of publishing on Friday.

Latest Ratings for MLND

Aug 2019MaintainsOutperform
Jul 2019Initiates Coverage OnOutperform
Jul 2019Initiates Coverage OnOutperform

View More Analyst Ratings for MLND
View the Latest Analyst Ratings

Posted-In: Laura Chico WedbushAnalyst Color Biotech Price Target Initiation Analyst Ratings General


Related Articles (MLND)

View Comments and Join the Discussion!

Latest Ratings

View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

Former FreightWaves Exec Talks Transparency, "Third-Wave" Freight-Tech And The Value Of Empathy

California Cannabis Enterprises Appoints Derrek Higgins As CFO