Axonis Therapeutics Announces $115 Million Series A Financing
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 30 2024
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Source: Newsfilter
Successful Financing: Axonis Therapeutics has completed a $115 million Series A financing to support the clinical development of its lead candidate, AXN-027, aimed at treating neurological disorders such as epilepsy and pain.
Innovative Approach: The company focuses on developing first-in-class oral small molecules that enhance the function of KCC2, a critical transporter for inhibitory neurotransmission, with plans to expand into additional indications including psychiatric and neurodevelopmental disorders.
Analyst Views on HRMY
Wall Street analysts forecast HRMY stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for HRMY is 46.00 USD with a low forecast of 32.00 USD and a high forecast of 62.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
10 Analyst Rating
9 Buy
0 Hold
1 Sell
Strong Buy
Current: 36.410
Low
32.00
Averages
46.00
High
62.00
Current: 36.410
Low
32.00
Averages
46.00
High
62.00
About HRMY
Harmony Biosciences Holdings, Inc. is a pharmaceutical company. It is focused on developing and commercializing therapies for patients living with rare neurological diseases as well as patients living with other neurological diseases who have unmet medical needs. Its product, WAKIX (pitolisant), is a first-in-class molecule with a novel mechanism of action designed to enhance histamine signaling in the brain by binding to H3 receptors. WAKIX was developed for the treatment of excessive daytime sleepiness (EDS) in pediatric patients, six years and older, with narcolepsy. HBS-102, an investigational compound, which is a melanin-concentrating hormone receptor 1 (MCHR1) antagonist. ZYN002 is an investigational drug product in development for the potential treatment of behavioral symptoms associated with Fragile X syndrome (FXS) and 22q11.2 deletion syndrome (22q). It also focused on the rare epilepsy franchise in its expanding late-stage pipeline of CNS assets: EPX-100 and EPX-200.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
