H.C. Wainwright Reiterates Buy Rating on Akari Therapeutics (AKTX)

H.C. Wainwright analyst Sean Lee reiterated a Buy rating and $1.60 price target on Akari Therapeutics (NASDAQ: AKTX).

The analyst commented: 'Following the merger with Peak Bio and the appointment of Abizer Gaslightwala as the company’s new President and CEO, Akari Therapeutics has shifted the main focus of the company towards developing a novel and unique antibody-drug conjugate (ADC) platform. According to management, the key to the new ADC platform is a proprietary PH1 spliceosome modulator payload. By targeting the spliceosome, PH1 is able to cause direct tumor killing through the formation of mis-spliced proteins. Furthermore, these mis-spliced proteins are usually also very immunogenic, which could improve tumor recognition and be synergistic with available immunotherapies, such as anti-PD-1 inhibitors. Finally, the PH1 payload is believed to be able to overcome standard resistance mechanisms such as drug efflux pumps as well. Taken together, we believe that Akari’s new ADC platform could potentially have best-in-class results, especially when used in combination with other immuno-oncology (I-O) agents. Reiterate Buy rating and $1.60 PT."

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

Shares of Akari Therapeutics closed at $0.85 yesterday.

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