BTIG Affirms Kite Pharma (KITE) at 'Neutral' as ZUMA-6 Begins

October 6, 2016 11:45 AM EDT
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Price: $45.91 -2.75%

Rating Summary:
    16 Buy, 2 Hold, 0 Sell

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    Up: 1 | Down: 2 | New: 3
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BTIG affirms Kite Pharma, Inc. (Nasdaq: KITE) with a Neutral rating after the company announced the first patient was enrolled in ZUMA-6, a Phase 1b/2 clinical study of KTE-C19 in combination with atezolizumab, Genentech’s anti-PD-L1 cancer immunotherapy.

Analyst Dane Leone commented today: The ZUMA-6 study (NCT02926833) will evaluate combination treatment of KTE-C19 with Genentech’s (RHHBY, Not Rated) PD-L1 inhibitor atezolizumab, for the treatment of Diffuse Large B-Cell Lymphoma (DLBCL).

Announcement today will have investors contemplating two key concerns, safety and efficacy: 1) Given the recently reported deaths within the ZUMA-1 study, will a PD-L1 combination increase the toxicity profile to unacceptable levels, and 2) does the focus on ZUMA-6 indicate that the upcoming (ASH in December) sub-group analysis of ZUMA-1 may show a lack of efficacy in non-Transplant relapse DLBCL patients.,/q>

While the trial announcement does not change our market forecasts or Neutral rating for KITE shares, we do think that the company continues to make smart and aggressive moves in relation to competitors, the analyst noted.

For an analyst ratings summary and ratings history on Kite Pharma click here. For more ratings news on Kite Pharma click here.

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