Leerink Partners Reiterates Outperform on Trillium Therapeutics (TRIL)
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Leerink Partners reiterated an Outperform rating and $20.00 price target on Trillium Therapeutics (NASDAQ: TRIL) as interest continues to build surrounding CD47 as an anti-cancer target. Private company Tioma Therapeutics announced today that it has raised $86M in Series A venture financing that will be used to further develop Tioma's antibody portfolio, including its lead candidate, an anti-CD47 antibody.
Analyst Michael Schmidt commented, "We are reiterating our OP rating on TRIL as interest continues to build in targeting CD47. We continue to view CD47 as a promising anti-cancer target in the tumor micro environment, although there are risks with respect to clinical translation. Private company Tioma Therapeutics announced today that it has raised $86M in Series A venture financing that will be used to further develop Tioma's antibody portfolio, including its lead candidate, an anti-CD47 antibody. We believe investors will continue to focus on TRIL's lead asset TTI-621 (CD47 inhibitor) with preliminary clinical data from the Phase I TTI-621 study expected at the American Society of Hematology (ASH, Dec. 3-6, 2016) Annual Meeting. Reiterate OP."
Shares of Trillium Therapeutics closed at $10.61 yesterday.
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