Roth Capital Keeps Prima BioMed (PBMD) at 'Buy' Following Receipt of IMP731-Related European Patent
- Wall St. rises amid robust earnings, GDP data
- FBI to review more emails related to Clinton's private email use: letter
- Unusual 11 Mid-Day Movers 10/28: (GRVY) (VRTS) (ITGR) Higher; (OPXA) (SNMX) (STON) Lower
- ExxonMobil (XOM) Tops Q3 EPS by 5c; CapEx Light of Views
- Baker Hughes (BHI), General Electric (GE) in Partnership Talks, Not Merger Talks
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Roth Capita affirms its Buy rating and $6 price target on Prima BioMed (Nasdaq: PBMD) after the company announced the granting of patent number 2142210 entitled “Cytotoxic anti-LAG-3 monoclonal antibody and its use in the treatment or prevention of organ transplant rejection and autoimmune disease” by the European Patent Office.
Analst Joseph Pantginis commented,
We believe this patent award is an important milestone for Prima, which partnered the product with GSK, as the patent is broad for multiple indications for the targeting of LAG-3. While visibility is somewhat limited with "big pharma" products, we believe we may receive an update from the Phase I later this year and plans to initiate a Phase II in either or both, psoriasis and IBD. Current focus remains on the Prima internal programs with IMP321. The TACTI-mel Phase I trial for melanoma is progressing with 1) six clinical centers activated and 2) the recruitment of three patients in the first cohort of study.
Progress in recruitment of patients for the AIPAC trial has been made where three individuals have been enrolled in the second cohort of the safety run-in phase. The TACTI-mel study is an open label Phase I study where patients with unresectable or metastatic melanoma are being dosed with IMP321 in combination with a checkpoint inhibitor. Three patients of 24 have been recruited in the first cohort. No dose limiting toxicity has been reached. The first data are expected in 4Q16. AIPAC is a Phase IIb trial in metastatic breast cancer. The Phase IIb study of IMP321 is a randomized, double-blind, placebo controlled trial with the goal of recruiting over 200 patients of which 15 patients will participate in a safety run-in phase. Results of all 15 patients from the safety run-in phase are expected in the 4Q16.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Leerink Partners Downgrades McKesson (MCK) to Market Perform
- Alphabet (GOOGL) (GOOG) 'Buy' Maintained at SunTrust Following Solid Q3
- Jefferies Raises Price Target on Bristol-Myers Squibb (BMY) Following 3Q
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesRoth Capital
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!