H.C. Wainwright Upgrades Context Therapeutics (CNTX) to Buy, 'CTIM-76 could be more effective than competitors'

H.C. Wainwright analyst Emily Bodnar upgraded Context Therapeutics (NASDAQ: CNTX) from to Buy with a price target of $5.00.

The analyst comments "CTIM-76 demonstrates high potency and selectivity for CLDN6; drug was well tolerated in tox studies. Yesterday, Context announced presentation of preclinical data for CTIM-76 at SITC on November 3 and updated its corporate presentation to reflect new data. The data demonstrate that CTIM-76 has high potency and target selectivity for CLDN6 in binding and cytotoxicity assays. CTIM-76 demonstrated complete tumor regression in a subcutaneous OVCAR3 (ovarian cancer cell line) xenograft model (Figure 1) at a dose of 1 mg/kg which was also well tolerated. NSG-b2m knockout mice (n=14/arm) were engrafted with human PBMCs and advanced OVCAR3 tumor xenografts (~150,000 CLDN6 copies per cell) were treated twice per week with vehicle or CTIM-76. We believe this is consistent with clinical data we have seen with BNT211 (CLDN6 CAR-T) and TORL-1-23 (CLDN6 ADC) which have demonstrated positive efficacy and response rates of >30% in late line ovarian cancer. CTIM-76 was also well tolerated in a toxicology study in cynomolgus monkeys exhibiting linear PK and was supportive of weekly dosing for a Phase 1 study (Figure 2). The Cmin was above the threshold required for therapeutic activity at doses of 0.05 mg/kg and above. At estimated therapeutic doses, CTIM-76 was well tolerated with no major CRS-associated clinical symptoms or toxicity. We note that some CRS is expected with bispecific antibodies and CAR-T therapies, and has been noted with bispecifics for hematological malignancies. In addition, CLDN4/9 hepatobiliary (liver) effects were generally mild. We believe both the efficacy and safety data are consistent with what has been shown in the clinic with BNT211 and TORL-1-23 though believe with greater potency and selectivity that CTIM-76 could be more effective than competitors at lower doses. We expect IND filing for a Phase 1 in 1Q24."

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

Shares of Context Therapeutics closed at $1.06 yesterday.

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