Cantor Fitzgerald Assumes Harpoon Therapeutics (HARP) at Overweight
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Cantor Fitzgerald analyst Jennifer Kim assumes coverage on Harpoon Therapeutics (NASDAQ: HARP) with a Overweight rating and a price target of $15.00 (from $33.00).
The analyst commented, "HARP is a clinical-stage IO company focused on developing a novel class of T cell engagers (engineered proteins that direct a patient's own T cells to kill specific tumor antigen-expressing cells) for solid tumors and hematologic malignancies. In-house, HARP has developed three proprietary technology platforms (TriTAC, ProTriTAC, TriTAC-XR) to discover and develop product candidates. The company's clinical-stage pipeline currently includes three TriTAC-based product candidates in Phase 1/2 development: 1) HPN328 (DLL3-targeting) for small cell lung cancer (SCLC) and other DLL3-expressing tumors; 2) HPN217 (BCMA-targeting) for multiple myeloma (MM); and 3) HPN536 (mesothelin [MSLN]-targeting) for ovarian, pancreatic, and other MSLN-associated solid tumors. All three programs are expected to complete dose-escalation this year, with dose-expansion cohorts for HPN217 and HPN328 guided to initiate in 2022. HARP is also advancing its lead ProTriTAC candidate HPN601 (EpCAM-targeting), with IND submission expected in 2H22, and is expected to advance its first TriTAC-XR candidate into IND enabling studies by the end of 2022. HARP reported cash, cash equivalents and marketable securities of $112.5MM as of 3/31/22, which the company expects can fund operations through 1H23."
Shares of Harpoon Therapeutics closed at $1.86 yesterday.
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