Roth Capital Positive on Heat Biologics (HTBX) as HS-110 Combo Phase 1b Enrollment Resumes
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Roth Capital affirms Heat Biologics (Nasdaq: HTBX) at Buy with a price target of $2.75 after the company announced resumption enrollment in its Phase 1b trial evaluating HS-110 in combination with nivolumab (Opdivo).
Analyst Joseph Pantginis commented today,
We believe that trial resumption for HS-110 in combination with nivolumab for NSCLC signals a positive view of the data showing an increase in CD8+ T cells in biopsy samples that derived from tumors originally classified as cold. As cold tumors tend to be less responsive to checkpoint inhibitor monotherapy, we believe that if HS-110 increases T cell infiltration it may sensitize the tumors to other therapies resulting in positive outcomes. We hope to get a better perspective on T cell tumor infiltration when HTBX releases additional data, as topline data for the patients to be enrolled in the NSCLC trial are expected within the next twelve months. In addition, HTBX expects to report topline 6-month data for the original eight patients in 4Q16.
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