Sernova Corp: First Berlin Equity Research Maintains Buy Rating

First Berlin Equity Research GmbH has released an update on Sernova Corp, reiterating its Buy rating while lowering the target price from CAD 3.80 to CAD 1.90. Analyst Christian Orquera based this recommendation on the latest developments in Sernova's clinical trials and strategic initiatives.

Sernova presented interim data from its phase 1/2 clinical trial of the Cell Pouch at the 2024 EASD Annual Meeting. All six patients in Cohort A achieved prolonged insulin independence. The first patient remained insulin-independent for over four years before device removal due to unrelated health reasons. The device showed no long-term complications such as fibrosis or tissue degradation.

However, Cohort B faced delays due to immunosuppression challenges. Results will be available by the end of 2024, with final data expected in early 2025. The company also plans to file an IND for using the Cell Pouch in hypothyroidism by year-end.