H.C. Wainwright on Genelux Corp. (GNLX): 'we believe these cases indicate positive durability of Olvi-Vec'

H.C. Wainwright analyst Emily Bodnar reiterated a Buy rating and $31.00 price target on Genelux Corp. (NASDAQ: GNLX).

The analyst comments "SCLC trial data update indicates a third responder in dose escalation; Cohort 4 appears to be a compelling RP2D. This morning, Genelux reported interim results from the company's ongoing open-label trials of systemically administered (intravenous) Olvi-Vec + platinum chemo in platinum-relapsed/refractory lung cancer including a Phase 1b/2 trial being run in China by partner Newsoara (private) in advanced SCLC and a US-based company sponsored trial in advanced or metastatic recurrent NSCLC (Phase 2 VIRO-25). We remind that the company previously announced initial data from 7 patients in the SCLC trial which showed patients treated with intravenous (IV) Olvi-Vec + platinum chemo had a 71% (5/7) DCR, and 2 patients achieved PRs per RECIST 1.1 criteria (29% ORR; 2/7), and 3 patients achieved stable disease with tumor reductions of 24-29.2% (including 1 heavily pretreated patient) as of a Feb 19, 2025 data cutoff. The update today was from a data cutoff of Dec 23, 2025, and while only 2 new patients were treated for a total of 9 treated patients with Olvi-Vec + chemo, one of the new treated patients achieved a PR. The combo yielded an ORR of 33% in 9 evaluable patients, including 3 PRs, which now includes 2 PRs at Cohort 4 (Olvi-Vec over 3 consecutive days at 1,2,3 x 10e9 pfu), which is the highest dose evaluated. The DCR remained consistent at 67% (6/9) with tumor shrinkage of 24-85% noted among the 6 patients. We believe this is notable given that these are pretreated patients who have exhausted standard platinum-based therapy, a setting where treatment options are limited, and historical response rates are typically ~15-20%. The potential dose-response relationship is intriguing, with Cohort 4 achieving a 67% ORR and substantial tumor reductions of 55% and 85%, presenting a compelling RP2D, though more data are needed. The exploratory durability data are the most compelling, especially the 12.1-month PFS in one patient and the 7.7-month PFS that more than tripled the prior treatment's 1.9-month PFS in a 4L patient, suggesting Olvi-Vec may overcome platinum resistance. Patients in the trial were only treated with a single dosing cycle of Olvi-Vec and were not able to receive any subsequent maintenance immunotherapy; therefore, we believe these cases indicate positive durability of Olvi-Vec. We expect additional data from the SCLC trial in 2026."

For an analyst ratings summary and ratings history on Genelux Corp. click here. For more ratings news on Genelux Corp. click here.

Shares of Genelux Corp. closed at $4.55 yesterday.

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