A 5% to 10% reduction in the volume of brain cell injury would be considered clinically and commercially meaningful for Argenica Therapeutics' (ASX:AGN) lead treatment candidate, ARG-007, which is being developed as a neuroprotective therapy for acute ischemic stroke, Euroz Hartleys said in a note on Wednesday.

It is currently in a phase two trial in acute ischemic stroke patients with large vessel occlusion who have undergone endovascular thrombectomy. Top-line results are expected in the third quarter.

The firm added that the literature suggests that even a 1.6% reduction could be considered clinically meaningful.

Euroz Hartleys has a speculative buy rating for the firm with a price target of AU$1.40.