Cue Biopharma (CUE) Expected to Demonstrate Tumor Shinkage Monday AMC - BTIG
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BTIG analyst Thomas Shrader reiterated a Buy rating and $33.00 price target on Cue Biopharma (NASDAQ: CUE) ahead of reporting delayed results on Monday night (10-Q out already)
that will include additional scan data for as many patients as possible for a significant data readout. It is believed that the company wants to show a true response of either 30% shrinkage and confirmed or at least some tumors with 15% to 20% shrinkage.
The analyst stated "Based on the approach of targeting viral antigens (true non-self targets) and the animal data, we are optimistic albeit realistic that these are very late-stage patients and the CUE-101 requires the patients to mount a meaningful anti-tumor immune response. The goal of this P1 trial is to define a monotherapy ORR greater than ~15% to 20% or two standard deviations above the expected SOC for these patients (pretty close to 0%). Barring that level of efficacy, the developmental goal for CUE-101 will likely become the characterization of dose dependent PD effects for monotherapy that support a pivotal trial in combination with a PD1 inhibitor. For reference, the ICOS-agonist mAb GSK3359609 was recently into P3 trials after showing a monotherapy ORR of 6% in a similar patient population (INDUCE-1 study, ORR = 24% was shown for Keytruda combination in CPI-naive patients)".
Shares of Cue Biopharma closed at $17.73 yesterday.
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