Roth Affirms 'Buy' Rating on Stemline (STML); Comments on SL-401 News

Roth Capital affirms Stemline Therapeutics (Nasdaq: STML) at Buy with a target price of $62 after Stemline announced the opening of its IND of SL-401 as well as the initiation of its multi-center, open-label clinical study of SL-401 in blastic plasmacytoid dendritic cell neoplasm (BPDCN) and relapsed/refractory acute myeloid leukemia (AML).

Analyst Joseph Pantginis commented, We believe that with this newly announced clinical study, STML is creating a strong position in the field of rare IL-3R+ hematological malignancies with high unmet need. STML's plan for clinical studies in additional similar rare indications support this view. STML is designing this initial study to serve as a basis for potential accelerated approval in BPDCN and also provide a potential guidepost for the larger planned randomized study in r/r AML. While rare, all the malignancies on STML's radar for SL-401 have an existing infrastructure at major institutions like Mayo and M.D. Anderson where most of these patients are referred. We are impressed by the company's strategic planning ahead, focusing on high unmet need ultra orphan cancers and building a clinical approach that could potentially allow for a speedier approval.

For an analyst ratings summary and ratings history on Stemline Therapeutics click here. For more ratings news on Stemline Therapeutics click here.

Stemline Therapeutics closed at $11.96 yesterday.

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