Lion Biotechnologies (LBIO) Receives First External Validation of Phase I TIL/Yervoy in Metastatic Melanoma; Roth Capital Affirms at 'Buy'
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Roth Capital affirms Lion Biotechnologies (NASDAQ: LBIO) at Buy with a price target of $17 after the company announced that researchers from Moffitt Cancer Center reported positive results from a pilot trial of TIL and ipilimumab in patients with metastatic melanoma.
Analyst Joseph Pantginis commented, We believe these data out of Moffitt continue to provide external validation for the TIL approach in melanoma as Lion preps the launch of its internal Phase II study with LN-144 in metastatic melanoma. Our confidence in LN-144 and the overall TIL approach remains unchanged. We are also encouraged by the data indicating higher TIL yields following a single treatment with Yervoy. This talks, in part, to Lion's approach to next generation manufacturing techniques as it looks to combination with anti-PD-1/PD-L1 blockade as a means to "pre-condition" patients. The primary focus of our investment case remains on the start of the Phase II LN-144 study in metastatic melanoma. This study represents the first internal study with TILs (supported by four positive independent Phase II programs with response rates at the 50% level). To this end, the study will target patients who are refractory to at least one systemic therapy (including Yervoy and anti-PD-1) and we believe this flexibility allows for rapid enrollment of the study. We also are especially encouraged by the planned INDs in additional solid tumors later this year, where we believe Lion differentiates itself and that CAR-T approaches can potentially falter.
For an analyst ratings summary and ratings history on Lion Biotechnologies click here. For more ratings news on Lion Biotechnologies click here.
Lion Biotechnologies closed at $11.20 yesterday.
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