UPDATE: Credit Suisse Initiates Coverage On Vital Therapies On Promising Early Data

Today 9:33 AM ET (Benzinga)

In a report published Monday, Credit Suisse analyst Bruce Nudell initiated coverage on Vital Therapies (NASDAQ: VTL) with an Outperform rating and $16.00 price target.
In the report, Credit Suisse noted, VTL is developing a cell-based therapy for the treatment of alcohol-induced acute liver de-compensation (AILD). VTL's extracorporeal liver assist device (ELAD) uses immortalized human liver cancer cells housed in a machine located outside the body to take over a portion of the liver's workload which allows the liver to regenerate.
"Current standard of care for targeted AILD patients carries a 50% mortality rate. The ELAD has shown a numerical 20% (not statistically significant) mortality benefit vs. standard of care in small phase 2 data sets.”
Vital Therapies closed on Friday at $12.50.

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