Roth Capital Reaffirms Actinium Pharma (ATNM) at 'Buy'; Says Starting Actimab-A Phase 2 is 'Important Step'
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Roth Capital affirms Actinium Pharmaceuticals (NYSE: ATNM) with a Buy rating and $5 price target after the company initiated a Phase 2 clinical trial of Actimab-A in patients newly diagnosed with Acute Myeloid Leukemia (AML) who are over the age of 60.
Analyst Joseph Pantginis commented today,
Starting this Phase II AML study is an important next step for the company, in our belief. Additionally, we believe that the protocol revisions provide the study with a better chance of success, driven by the PB hypothesis. Dr. Joseph Jurcic (Columbia) is the principal investigator of the study and stated that it is easy to cytoreduce patients with hydroxyurea in order to get them below the PB threshold. With regard to survival expectation, Dr. Jurcic would consider improvement survival to ~12 months a success. The lead focus for the company is Iomab-B, which is in an ongoing Phase III SIERRA study in BMT conditioning (relapsed/refractory AML patients), which should read out in 2H18. The amount of time required for the treatment compared to current conditioning regimens as well as the overall cost should be significantly reduced, if approved. The company was also recently granted SME status in the E.U., which is somewhat analogous to Breakthrough Therapy designation and allows for enhanced regulatory support.
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