Tivardi downgraded at Raymond James following TTI-101 trial failure

[The New York Stock Exchange on the Wall street sign]
Dmitry Vinogradov

* Raymond James downgraded Tivardi Therapeutics (NASDAQ:TVRD [https://seekingalpha.com/symbol/TVRD]) to market perform from outperform citing the recent disappointing phase 2 data [https://seekingalpha.com/news/4503642-tivardi-tanks-phase-2-data-of-tti-101-idiopathic-pulmonary-fibrosis] release of TTI-101 for idiopathic pulmonary fibrosis.
* The investment firm pulled its price target.
* Analyst Ryan Deschner said that questions surrounding TTI-101's viability remain considering the high number of discontinuations in the active treatment arms of the trial and whether the drug actually slows lung fibrosis in IPF patients.
* He added that while Tivardi has topline phase 2 data on TTI-101 in liver cancer due in H1 2026 to look forward to and earlier findings in this indication were encouraging, "we see the discontinuation rate seen in [the] readout as added risk to this program. Given the aggregate of these dynamics, as well as the removal of the IPF opportunity from our model, we are downgrading..."

MORE ON TVARDI THERAPEUTICS

* Tvardi Therapeutics: 'Sell' Rating On IPF Drug TTI-101 Advancement Uncertainty [https://seekingalpha.com/article/4829613-tvardi-therapeutics-sell-rating-on-ipf-drug-tti-101-advancement-uncertainty]
* Tivardi tanks on phase 2 data of TTI-101 in idiopathic pulmonary fibrosis [https://seekingalpha.com/news/4503642-tivardi-tanks-phase-2-data-of-tti-101-idiopathic-pulmonary-fibrosis]
* Historical earnings data for Tvardi Therapeutics [https://seekingalpha.com/symbol/TVRD/earnings]
* Financial information for Tvardi Therapeutics [https://seekingalpha.com/symbol/TVRD/income-statement]