Bond.az - Goldman Sachs initiated coverage on Seaport Therapeutics (NASDAQ:SPTX) with an Early-Stage Biotech rating. The stock trades at $17.50, up 11.75% over the past week.
Seaport Therapeutics is a clinical-stage biotech developing oral small molecule therapies for neuropsychiatric disorders using its Glyph platform, which cloaks drugs as dietary fat to bypass the liver and improve absorption.
Lead assets are GlyphAllo (allopregnanolone) for major depressive disorder and GlyphAgo (agomelatine) for generalized anxiety disorder. Both are prodrugs of approved drugs.
Goldman Sachs projects peak global sales of $5.4 billion by 2041 for these assets. Phase 1 data showed clinically relevant exposures and bioavailability with no liver issues.
With a market cap of $928 million, the company has strong liquidity to fund clinical programs through key milestones.
