As previously reported, Maxim initiated coverage of Polaryx with a Buy rating and $10 price target. The company is aiming to rapidly emerge in the high-value rare disease category through development of PLX-200, a repurposed FDA-approved lipid-lowering drug - LSD - for treatment of lysosomal storage disorders, the analyst tells investors in a research note. The firm views PLX-200 as differentiated given its patient-friendly oral formulation and potential to address a broad spectrum of LSDs by targeting shared disease pathways rather than targeting single gene/enzyme defects, Maxim adds.
