Leerink Positive on Karyopharm Therapeutics (KPTI) Ahead of ESMO Presentation
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Leerink affirms Karyopharm Therapeutics Inc. (Nasdaq: KPTI) with an Outperform rating and $18 price target after the company announced that an oral presentation highlighting updated clinical data from the Company’s ongoing Phase 2 study of selinexor (KPT-330) for the treatment of gynecological cancers (the SIGN study) will be presented at the European Society of Medical Oncology (ESMO) 2016 annual meeting.
Analyst Michael Schmidt commented today,
Abstracts for oral ESMO presentations were made public today, including one (abstract #8540) highlighting data from KPTI's "SIGN" Phase II trial of selinexor in gynecological cancers, including ovarian, endometrial, and cervical cancers. The updated results, now in a larger group of patients (n=102) look consistent to interim data previously presented in a smaller group of patients at ASCO, 2015. While it is encouraging that selinexor has some modest single agent activity at tolerated dose levels in these solid tumors, we think the main value driver for selinexor remains the higher probability-of-success opportunity in hematological cancers with updates expected from ongoing multiple myeloma (MM) combination studies at ASH. In addition, the interim analysis of the Phase II single-agent "SOPRA" trial in acute myeloid leukemia (AML) and top-line final results from the "SADAL" trial in diffuse large B-cell lymphoma, (DLBCL) are expected by year-end and in 1Q17 respectively which - if positive - should provide upside to the current stock price, which has been affected by uncertainty over the path to market of selinexor.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Mizuho Securities Downgrades Under Armour, Inc. (UA) to Neutral Citing Structural Margin Challenges
- FBR Capital Downgrades FuelCell Energy (FCEL) to Market Perform - PT to $5.50
- Vertex (VRTX) PT Bumped to $88 at BMO Capital Following Results and Triple Combo Update
Create E-mail Alert Related CategoriesAnalyst Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!