UPDATE: Goldman Sachs Starts Codiak Biosciences Inc. (CDAK) at Buy

Goldman Sachs analyst Andrea Tan initiates coverage on Codiak Biosciences Inc. (NASDAQ: CDAK) with a Buy rating and a price target of $19.00.

The analyst comments "CDAK is an early-stage clinical company developing a portfolio of exosome-based therapeutics for oncology, neurology, and infectious diseases, among others. Via CDAK's engEx platform, exosomes can be engineered to incorporate various payloads and be directed to specific cell types and tissues. We believe validation of this technology is coming in 2Q22 per topline Ph1 Part B exoIL-12 clinical activity data in cutaneous T-cell lymphoma (CTCL) and Ph1 exoSTING dose-escalation data in solid tumors including parotid gland and cutaneous squamous cell carcinoma (cSCC), with positive data serving as key value inflection points. Third asset exoASO-STAT6 in hepatocellular carcinoma (HCC) is set to enter the clinic this quarter (initial data in 1H23), followed by a robust pipeline of development candidates including for targeted gene therapy delivery and vaccines which are not included in our model and offer optionality."

For an analyst ratings summary and ratings history on Codiak Biosciences Inc. click here. For more ratings news on Codiak Biosciences Inc. click here.

Shares of Codiak Biosciences Inc. closed at $4.94 yesterday.

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