Entrada Therapeutics (TRDA) management expressed confidence ahead of a Q2 data readout for its ENTR-601-44 Duchenne muscular dystrophy program, highlighting differentiated data from its endosomal escape platform and a favorable safety profile, Oppenheimer said in a Monday note.

The analysts said preclinical and healthy volunteer data suggest stronger efficacy versus a key competitor, with management expecting double-digit dystrophin levels at 6 mg per kilogram and potentially best-in-class outcomes at higher dosing.

Oppenheimer added that the upcoming Q2 readout could drive more than 50% upside for the stock if the data confirm platform differentiation.

The firm raised the probability of success for ENTR-601-44 to 45% from 40%, reiterated its outperform rating and increased its price target to $23.

Shares of Entrada were up nearly 3% in Monday trading.

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