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Is Taysha Gene Therapies Inc. (TSHA) One of the Must-Buy Penny Stocks to Buy Now?

Taysha Gene Therapies Inc. (NASDAQ:TSHA) is a must-buy penny stock to buy now. On November 13, Piper Sandler analyst Biren Amin reaffirmed his Buy rating on Taysha Gene Therapies, assigning a $9 price target. On November 5, Truist Financial analyst Joon Lee also reaffirmed a Buy rating on Taysha Gene Therapies Inc. (NASDAQ:TSHA) following the company’s third‑quarter results.

Photo by CDC on Unsplash

On November 4, Taysha Gene Therapies Inc.’s Chief Executive Officer reiterated that the company has made progress and is poised for a potentially transformative period. The company achieved significant milestones, including achieving FDA Breakthrough Designation for TSHA-102.

The breakthrough Designation is of the company’s flagship treatment for Rett Syndrome. Additionally, the company finalized FDA alignment on the REVEAL Pivotal Trial Protocol and SAP for TSHA-102. In addition, the company confirmed it has regained full rights to the TSHA-102 program following the expiration of a 2022 option agreement with Astellas.

“With Breakthrough Therapy designation and finalized FDA alignment, together with our strong balance sheet and regained global rights to TSHA-102, we believe we are strongly positioned to initiate our REVEAL pivotal trial and accelerate execution toward BLA submission. We remain on track to dose the first patient in the REVEAL pivotal trial this quarter and expect additional enrollment to continue at multiple sites this quarter,” said Sean P. Nolan, Chairman and Chief Executive Officer of Taysha.

Taysha Gene Therapies generated a net loss of $32.7 million, or $0.09 per share, compared to a loss of $25.5 million, or $0.10 per share, in the same quarter last year. It also exited the quarter with $297.3 million in cash and cash equivalents, sufficient to meet planned operating expenses and capital requirements through 2028.

Taysha Gene Therapies Inc. (NASDAQ:TSHA) is a clinical-stage biotechnology company that develops and commercializes adeno-associated virus (AAV)-based gene therapies for severe genetic diseases of the central nervous system. Its focus is on treating monogenic diseases, which are caused by a mutation in a single gene. A key program is TSHA-102, a gene therapy for Rett syndrome.

While we acknowledge the potential of Taysha Gene Therapies Inc. (NASDAQ:TSHA) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TSHA and that has 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 12 Best Consumer Goods Stocks Billionaires Are Quietly Buying and Goldman Sachs Penny Stocks: Top 12 Stock Picks.

Disclosure: None. This article is originally published at Insider Monkey.

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