Roth Capital Affirms Vascular Biogenics (VBLT) at 'Buy' Following Topline VB-111 Phase 2 Data
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Roth Capital affirms Vascular Biogenics (Nasdaq: VBLT) with a Buy rating and $17 price target after the company announced top-line results from its exploratory Phase 2 study of VB-111 (ofranergene obadenovec) in patients with advanced, differentiated thyroid cancer.
The firm commented on Tuesday:
We believe this is an important update for the thyroid program. Recall that in order to preserve financial resources, future studies in thyroid cancer will be investigator initiated, as it is a rare indication (~2,000 patients in the U.S.) and will have a long trial period. The key focus remains on the Phase III GLOBE study in recurrent GBM as well at the ovarian cancer program. Final data for GLOBE are anticipated in early-2018. In addition, VBLT plans to meet with the FDA before the end of 2016 to discuss the ovarian cancer program.
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