Overview

• US rare disease biopharma's Q1 net loss widened as R&D and admin costs increased

• Company raised $230 mln in equity financing, ending Q1 with $261.9 mln in cash

Result Drivers

• R&D SPENDING - Higher research and development expenses driven by increased manufacturing activities, headcount, and consulting services

• ADMIN COSTS - General and administrative expenses rose due to increased headcount and professional services related to operating as a public company

Company press release: ID:nGNX8lydRj

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 16 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Palvella Therapeutics Inc is $223.50, about 71.7% above its May 6 closing price of $130.17

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