Incyte Deal Further Validates Calithera Biosciences (CALA) Program - JMP

JMP Securities analyst Michael King reiterated his Market Outperform rating and $12 price target on Calithera Biosciences (NASDAQ: CALA) after the company enters into a global collaboration with Incyte for the development and commercialization of arginase inhibitor CB-1158.

"The collaboration provides capital for the global development of CB-1158 and further validates Calithera’s program, in our view," King said. "CB-1158 is currently being studied in a monotherapy dose escalation trial and additional studies are expected to evaluate CB-1158 in combination with immuno-oncology agents. Dose escalation studies are expected to yield initial data readouts in 2017, while data on the combination of CB-1158 and PD-1 inhibitors should readout in 2018."

For an analyst ratings summary and ratings history on Calithera Biosciences click here. For more ratings news on Calithera Biosciences click here.

Shares of Calithera Biosciences closed at $4.60 yesterday.

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