Aduro Biotech (ADRO): Positive After CRS-207 Combination Study Data - FBR
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FBR Capital analyst, Christopher James, reiterated his Outperform rating on shares of Aduro Biotech (NASDAQ: ADRO) after the company presented additional data from the ongoing Phase Ib study with CRS-207 in combination with cyclophosphamide (Cy) in unresectable malignant pleural mesothelioma. These data included an analysis from the second cohort of patients and were presented at the Annual Meeting of the Society for Immunotherapy of Cancer (SITC). These preliminary data demonstrated that 82% of patients (18/22) had disease control at the average duration of study participation of less than 10 months.
The analyst views these data as positive and looks forward to the initiation of the Phase II study as the next step in CRS-207 development. Aduro presented two additional posters covering preclinical data. The first poster focused on the mechanism of action of ADU-S100, whereby an intra-tumoral injection of the drug could lead to a systemic tumor-specific T cell response and antitumor immunity. The second poster highlighted the potential of a combination therapy of personalized LADD (pLADD) with anti-PD-1 checkpoint modulators in inducing a neoantigen-specific response and providing survival benefit in two mouse models.
No change to the price target of $20.
Shares of Aduro Biotech closed at $15.25 yesterday.
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