UPDATE: Guggenheim Starts Neoleukin Therapeutics (NLTX) at Buy

(updating comment)

Guggenheim analyst Michael Schmidt initiates coverage on Neoleukin Therapeutics (NASDAQ: NLTX) with a Buy rating and a price target of $20.00.

THe analyst comments "NLTX is applying computational methods to develop novel therapeutic proteins for cancer immunotherapy. Lead pre-clinical product NL-201 is an extended half-life derivative of a de novo protein designed to mimic the therapeutic activity of interleukin-2 (IL-2), a class of anti-cancer agents that has demonstrated durable remissions in renal cell carcinoma and melanoma but has been limited by a tight therapeutic window. With the recent resurgent interest in signaling-selective IL-2s, we expect clinical updates from competing IL-2 therapies to report this year and pre-clinical updates from NL-201, which is an agonist of IL-2 and IL-15 receptors, to provide validation of NLTX's platform and a path to longer-term upside."

For an analyst ratings summary and ratings history on Neoleukin Therapeutics click here. For more ratings news on Neoleukin Therapeutics click here.

Shares of Neoleukin Therapeutics closed at $11.06 yesterday.

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