Noble Financial Sees Multiple Readouts for Heat Biologics (HTBX) by YE16; Maintains 'Buy' Rating
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Noble Financial affirms Heat Biologics, Inc. (HTBX) with a Buy rating and $8 price target following recent Q2 results.
Analyst Kumaraguru Raja sees multiple readouts for Heat Bio by the end of the year. Key points include:
- Potential candidate for acquisition or collaboration. ImPACT based clinical programs, HS-410 in non-muscle invasive bladder cancer (NMIBC), and HS-110 in combination with Opdivo in NSCLC are making progress. We believe that the company is undervalued and is potentially a candidate for acquisition or collaboration following data readouts in 4Q16
- HS-110 preliminary data promising. HS-110 is currently in Phase 1b in combination with a PD-1 inhibitor (Opdivo) for advanced NSCLC, preliminary data showed that the combination did not lead to increased toxicity, responding patients had antigen-specific immune response to antigens in the vaccine and shared tumor antigens. HS-110 has potential to convert tumors in non-responders with low tumor infiltrating lymphocytes (TILs) to high TILs leading to response
- ComPACT pre-clinical data promising. The ComPACT platform is a vaccine and a T cell co-stimulator in a single construct transfected in an allogeneic tumor cell line. Therefore, the ComPACT platform includes HSP gp96-Ig and a T cell co-stimulator such as OX40 ligand in a single construct/plasmid, preliminary pre-clinical data has been promising and has showed enhanced tumor rejection
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