Noble Capital has repeated an 'Outperform' rating and C$1.35 (US$1.05) price target again tagged Ortho Regenerative Technologies Inc (CSE:ORTH) following news the first patient in the ORTHO-R rotator cuff Phase I/II trial has received surgical treatment.
Ortho said recently that it had begun enrolling patients in its US phase I/II clinical trial of rotator cuff tear repair after the first patient surgery was completed in its US phase I/II clinical trial of rotator cuff tear repair.
“Phase I could be fully enrolled in the next couple of months,” Noble analysts said in a note to clients. "If patient enrollment expectations hold. We consider the company's ORTHO-R/RESTORE platform safety profile to be excellent.”
READ: Ortho Regenerative Technologies initiates patient enrollment following completion of first patient surgery in US phase I/II rotator cuff tear repair clinical trial
The ORTHO-R phase I/II clinical study is a prospective, randomized, controlled, and blinded clinical trial, to evaluate the safety and efficacy of its ORTHO-R soft tissue repair platform as an adjunct to standard of care surgery versus standard of care surgery alone for rotator cuff tear repair.
The Noble analysts said: “We believe Ortho RTI has a low-cost product platform that could substantially improve success rates in soft tissue surgeries.”
Additionally, the analysts pointed to a rebranding decision that came out of Ortho’s annual general meeting of shareholders on July 21, 2022. Shareholders approved a corporate name change, and the possible choices include Suregenix Inc, Chitogenx Inc and Vaskar Inc, among others.
Shares of Ortho Regenerative Technologies traded at C$0.26 on the CSE and US$0.20 on OTC Markets Thursday morning.
Ortho Regenerative Technologies is a clinical-stage orthobiologics company dedicated to the development of novel therapeutic soft tissue repair technologies to dramatically improve the success rate of orthopedic and sports medicine surgeries.