Jefferies Maintains Bullish View on ProNAi (DNAI) Following Conference

Jefferies analyst, Brian Abrahams, met with ProNAi Therapeutics (NASDAQ: DNAI) management at the Jefferies Healthcare Conference and offered the following insights:

The ongoing DLBCL study is enrolling on track, and coming out of the meeting we continue to believe that while very near-term catalysts are limited, the company has a good strategy to capitalize on the promising efficacy and safety profile of lead asset '2258 in hematological malignancies, something we believe will drive LT value.

The ongoing open-label ph.II WOLVERINE study in relapsed/refractory DLBCL is continuing to enroll on track with its recruitment expectations, and initial interim data remains expected at ASCO 2016.

Management seemed particularly bullish on the concept of assessing '2258 in combination with other agents in 2nd-line DLBCL, given preclinical evidence of combinability and the agent's low myelosuppressive potential. DNAI plans to initiate two open-label combo studies in 1H16, covering both transplant eligible and ineligible patients.

No change to Buy rating or $30 PT

For an analyst ratings summary and ratings history on ProNAi Therapeutics click here. For more ratings news on ProNAi Therapeutics click here.

Shares of ProNAi Therapeutics closed at $17.11 yesterday.

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