Maxim Group Starts Cellular Biomedicine Group (CBMG) at Buy
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Maxim Group initiates coverage on Cellular Biomedicine Group (NASDAQ: CBMG) with a Buy rating and a price target of $16.00.
Analyst Gabrielle Zhou highlighted:
- Cellular Biomedicine Group has clinical assets in both stem cell and immune cell therapies. The company's most advanced therapeutic candidate is ReJoin, an autologous human adipose-derived mesenchymal progenitor cell (haMPC) for the treatment of knee osteoarthritis (KOA).
- 48-week follow-up data from the completed Phase IIb study (n=53) showed that total WOMAC scores decreased 9.48, representing a 28.5% improvement rate in the ReJoin group, vs. 6.92 (or a 20.7% improvement rate) in the control group. Total cartilage volume measured by MRI showed a statistically significant increase of 302.06 mm3. A signal has been demonstrated.
- Through a small-size Phase IIb study, ReJoin showed efficacy and had a favorable safety profile. CBMG plans to seek partnerships with major hospitals in China to continue its clinical study, in compliance with “The 2015 Draft” regulations. "The 2015 Draft" specified that only Level 3 hospitals — the highest-ranked hospital category in China — are permitted to conduct stem cell clinical trials.
- CBMG has GMP facilities in the Chinese cities of Wuxi, Shanghai, and Beijing. This supports the clinical development and future manufacture of cell therapies, in compliance with the U.S. FDA standard protocol and certified by the CFDA.
- On the immune cell therapy side, CBMG is developing multiple chimeric antigen receptor T-cell (CAR-T) therapies, redirected T-cells against CD19, CD20, and CD30, and human epidermal growth factor receptor (EGFR or HER1) against acute B lymphocytic leukemia, progressive malignant lymphoma, Hodgkin's lymphoma, and advanced lung cancer. Currently, they are all in Phase I studies at the Chinese PLA General Hospital (301 Military Hospital). CAR-T with small patient numbers could unlock significant value.
Shares of Cellular Biomedicine Group closed at $14.28 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Galena Biopharma (GALE) PT Raised to $4 at Maxim Group into San Antonio Breast Cancer Symposium
- Pivotal Research Downgrades Kroger (KR) to Hold
- Jefferies Cuts Price Target on Kroger (KR) to $30 Following 3Q and Guidance
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesMaxim Group
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!