Gemini Therapeutics Shares Jump As HC Wainwright Sees Over 500% Upside

H.C. Wainwright initiated coverage of Gemini Therapeutics Inc GMTX with a Buy rating and $20 price target. 

• In the near term, the expected Phase 2a readout for lead asset GEM103 can serve as a platform catalyst, analyst Matthew Caufield tells investors in a research note. 
• The analyst believes GEM307 demonstrates the broader applications for targeting CFH regulation.
• GEM103, Gemini's lead program, targets a genetically defined subset of age-related macular degeneration (AMD) patients with complement dysregulation.
• In September, Gemini Therapeutics presented the previously released initial results from its ongoing Phase 2a study at EURETINA 2021.
• For the 62 patients with GA enrolled, no systemic serious adverse events related to GEM103 were observed.
• Ocular adverse events observed were related to the intravitreal procedure and are commonly associated with the IVT procedure.
• Repeat dosing with GEM103 resulted in rapid and sustained increased complement factor H (CFH) levels in aqueous humor.
• Related Link: Gemini Axes Chief Scientific Officer, 20% Of Staff To Focus On Geographic Atrophy Candidate.
• Price Action: GMTX shares are up 22.2% at $2.97 during the market session on the last check Wednesday.