Maxim Keeps ContraVir Pharma (CTRV) at 'Buy' as CMX157 Progresses into Phase 2a for HBV
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Maxim affirms ContraVir Pharmaceuticals, Inc. (Nasdaq: CTRV) with a Buy rating and $4 price target after the company announced that following a positive recommendation from an independent Data Safety Monitoring Board (DSMB), the company has begun enrolling the next dosing group in its head-to-head Phase 2a dose-escalation study comparing the safety and efficacy of ContraVir's CMX157 to tenofovir disoproxil fumarate (TDF, marketed by Gilead Sciences as Viread) in patients with chronic hepatitis B (HBV).
Analyst Jason Kolbert commented today,
The positive safety data, in our view, are continued validation of CMX157's unique chemistry, which induces rapid uptake in the liver, followed by more efficient conversion. The recently announced interim efficacy and safety data validate our belief that CMX157 potentially could be the next backbone regimen against HBV: 1/12th the dose of Viread, 99% reduction in viral load, positive safety profile.
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