Roth Capital Cuts PT on Heat Biologics (HTBX) by ~27% Following HS-410 Phase 2 Data
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Roth Capital cuts its price target on Buy-rated Heat Biologics (Nasdaq: HTBX) from $2.75 to $2 following adverse HS-410 combo phase 2 data in bladder cancer, as announced on Wednesday night.
Analyst Joseph Pantginis commented today,
Based on the outcome of the Phase II study, reality or perception is the driver here in that the HS-410 study failed. The potential "grey" area is that: 1) the data would have swung dramatically with only two or three patients, 2) strong immune responses from vaccine are observed, 3) many patients on curves are censored and further follow up could play out positively. In the meantime, next week's DURGA readout could provide some potential salvation with topline data (n~9) from the Phase Ib DURGA study combining HS-110 + Opdivo in NSCLC.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, FDA
Related EntitiesRoth Capital, S1
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