UniCycive Therapeutics Inc (UNCY)

[Whalatane]

B. Riley Financial initiated coverage of Unicycive Therapeutics (UNCY) with a Buy rating and a $22.00 price target on May 1, 2026.

The analyst's rationale for this valuation is centered on the commercial potential of the company's lead drug candidate and favorable regulatory timing:Oxylanthanum Carbonate (OLC) Potential:

The investment thesis focuses on OLC, a next-generation phosphate binder for treating hyperphosphatemia in chronic kidney disease patients on dialysis. B. Riley highlights its nanoparticle formulation as a key advantage.

Market Opportunity: OLC is positioned to enter a $1.5 billion U.S. hyperphosphatemia market.

TDAPA Eligibility: B. Riley notes that OLC is the only therapy eligible for the Transitional Add-on Payment Adjustment (TDAPA) at the exact time that class-level TDAPA for six existing bundled binders is set to expire. ( hello ..those who follow this board knew this ...my comments )

FDA Action Date: The FDA has set a PDUFA target action date of June 29, 2026, for OLC, creating a near-term catalyst for the stock.

Commercial Transition: Analysts, including those at H.C. Wainwright  (who also hold a $22 target), view the company as successfully transitioning from a clinical-stage developer to a commercial-scale organization.

Note ..re being the only one in TDAPA ( 100% Medicare coverage ) in 2027 .
This assumes the Kidney Care Partners action group fails to extend the existing TDAPA from 2 to 3 yrs ...currently working its way thru Congress.
Kiwi