H.C. Wainwright Reiterates Buy Rating on Protera Therapeutics (TARA), 'TARA-002 holds an attractive position in the treatment of NMIBC'

H.C. Wainwright analyst Andrew Fein reiterated a Buy rating and $23.00 price target on Protera Therapeutics (NASDAQ: TARA).

The analyst commented: "During the Society of Urologic Oncology (SUO) 2024 meeting on December 5, Protara provided an update on TARA-002, showcasing promising early efficacy results from the Phase II ADVANCED-2 trial in HR-NMIBC, particularly for BCG-unresponsive patients. We emphasize that TARA-002 achieved an 80% complete response rate (CRR) at any time (4/5) and a remarkable 100% CRR at 6 months (4/4) in CIS-only patients with sufficient follow-up. In our view, this data surpasses the typical efficacy benchmark of 30-50% CRR for this population, though it is important to acknowledge the small patient cohort. Among BCG-naïve patients, TARA-002 demonstrated a 67% CRR at any time (10/15) and 64% at 6 months (9/14), with overall CRRs of 70% at any time and 72% at 6 months across all patients. These results compare favorably with approved therapies such as astiladrine and pembrolizumab (37%-41% CRR at 6 months) and investigational agents (~45%-64% CRR). A key question raised by investors centered on why BCG-unresponsive patients demonstrated better overall responses compared to BCG-naïve patients. We are not surprised by this finding, as we believe prior BCG exposure primes the immune system, enhancing its ability to respond to a different bacterial agent. Additionally, we hypothesize that while both BCG and TARA-002 induce similar cytokine profiles, the levels of specific cytokines expressed may differ significantly. For example, if BCG induces lower levels of IL-1β, TARA-002 may induce higher levels of IL-12, potentially driving a more robust immune response and contributing to its unique efficacy post-BCG exposure. Reiterate Buy rating and $23 PT."

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

Shares of Protera Therapeutics closed at $6.02 yesterday.

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