Tiziana Life Sciences lifts target to $9 after 64% fatigue improvement, 35% SUV drop
Tiziana Life Sciences raised its 12-month price target to $9 from $8 after updated intranasal foralumab data showed disease stabilization in 14 secondary progressive MS patients and 9 (64%) experienced fatigue improvements. Early Phase 2a MSA imaging showed up to 35% PET SUV and 24% SUVR reductions.
1. Price Target Increase
Lucid Capital Markets boosted its 12-month price target on Tiziana Life Sciences to $9 from $8, retaining a Buy rating. The target reflects a probability-adjusted net present value analysis assuming a 45% success probability, 21% tax rate and 15% discount rate through 2043.
2. na-SPMS Program Outcomes
Data from the expanded access program in non-active secondary progressive multiple sclerosis covering 14 patients showed disease stabilization with only one confirmed disability progression event. Nine patients (64%) achieved a clinically meaningful improvement on the Modified Fatigue Impact Scale.
3. MSA Imaging Results
Early imaging from an ongoing Phase 2a multiple system atrophy study in two treated patients revealed reductions of up to 35% in PET standardized uptake value and 24% in uptake value ratio, indicating a robust anti-inflammatory response comparable to that seen in MS patients treated with intranasal foralumab.
4. Next Steps and Outlook
Tiziana plans to advance intranasal foralumab toward regulatory approval as a novel immunomodulatory therapy for progressive MS and MSA, leveraging these data to support future clinical and commercial milestones.