Kite Pharma (KITE): FDA Official's Personal View On CAR-T Therapy - Jefferies
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Jefferies analyst, Biren Amin, reiterated his Buy rating on shares of Kite Pharma (NASDAQ: KITE) after attending an industry meeting focused on CAR-T, and having an opportunity to hear and speak with a FDA medical officer on her personal views on CAR-T therapy.
The analyst states that the duration of response for CD19 CAR-T is a greater focus than response rates and that she would like to observe greater than 6 months duration of response. On safety, she seems comfortable by CD19 CAR-T's profile given it has been well-characterized and patients/sites know what to expect.
The analyst stated "One question that will surround the data is which patients generate a better response - primary refractory or patients who have relapsed within a year of stem cell transplant. The FDA official at this point could not provide her views on this discussion and would like to see data from each cohort".
The analyst emphasized that the FDA medical officer's statements are not the official position of FDA and are her personal views as opposed to FDA consensus. No change to the price target of $72.
Shares of Kite Pharma closed at $57.63 yesterday.
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