Collins Stewart Starts YM BioSciences (YMI) at Buy; Physicians are Optimistic on 387's Clinical Utility
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Price: $2.94 --0%
Rating Summary:
2 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 13 | New: 9
Rating Summary:
2 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 13 | New: 9
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Collins Stewart initiates coverage on YM BioSciences (NYSE: YMI) with a Buy. PT $4.00.
Collins analyst says, "The key value driver for YMI is CYT387, which we believe has meaningful market potential as the likely second JAK1/2 to enter the myelofibrosis (MF) market (in P1/2; ~3 years behind INCY/NVS ruxolitinib). We believe 387 is likely to demonstrate an efficacy and safety profile in-line with ruxolitinib and could therefore capture the ruxolitinib-inadequate responder market (~35% of patients, according to physicians) as well as a modest portion of the front-line, treatment-naive market, which in total represents a peak WW opportunity of ~$300M+ according to our model (assuming CY3Q15 and 4Q15 U.S. and E.U. approvals). However, should 387 demonstrate a superior anemia benefit to ruxolitinib (per interim P1/2 data) in a controlled P3 study, we believe CYT387 could capture a significant portion of the MF population with both an enlarged spleen and anemia (~30% of splenomegaly patients have severe anemia), which could represent an additional ~$200M+ to our estimates."
For more ratings news on YM BioSciences click here and for the rating history of YM BioSciences click here.
Shares of YM BioSciences closed at $2.01 yesterday.
Collins analyst says, "The key value driver for YMI is CYT387, which we believe has meaningful market potential as the likely second JAK1/2 to enter the myelofibrosis (MF) market (in P1/2; ~3 years behind INCY/NVS ruxolitinib). We believe 387 is likely to demonstrate an efficacy and safety profile in-line with ruxolitinib and could therefore capture the ruxolitinib-inadequate responder market (~35% of patients, according to physicians) as well as a modest portion of the front-line, treatment-naive market, which in total represents a peak WW opportunity of ~$300M+ according to our model (assuming CY3Q15 and 4Q15 U.S. and E.U. approvals). However, should 387 demonstrate a superior anemia benefit to ruxolitinib (per interim P1/2 data) in a controlled P3 study, we believe CYT387 could capture a significant portion of the MF population with both an enlarged spleen and anemia (~30% of splenomegaly patients have severe anemia), which could represent an additional ~$200M+ to our estimates."
For more ratings news on YM BioSciences click here and for the rating history of YM BioSciences click here.
Shares of YM BioSciences closed at $2.01 yesterday.
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