Leerink Partners Remains Bullish as Trillium Therapeutics (TRIL) Continues TTI-621 Development

Leerink Partners maintained an Outperform rating on Trillium Therapeutics (NASDAQ: TRIL) price target of $20.00 (from $29.00). Earlier this year TRIL initiated dosing in its Ph I where TTI-621 will be evaluated as a monotherapy in patients with relapsed/refractory hematological malignancies. While TRIL has broadened its portfolio with the recent acquisition of Fluorinov Pharma, we believe investors will continue to focus on lead asset TTI-621, and management is hoping to be able to present preliminary data from the Phase 1 study at ASH 2016.

Analyst Michael Schmidt commented, "TRIL is developing TTI-621 (SIRPαFc), which blocks CD47, an emerging immuno-oncology target that is overexpressed on many tumor types. Based on our review of the scientific literature and preclinical data, we believe targeting CD47 holds promise of modifying the tumor microenvironment while some risks exist as well. While TRIL has broadened its portfolio with the recent acquisition of Fluorinov Pharma, we believe investors will continue to focus on lead asset TTI-621, and management is hoping to be able to present preliminary data from the Phase 1 study at ASH 2016. We are updating our model to reflect 4Q15 financial results and reducing our PT to $20 (from $29 previously) to reflect recent group multiple compression. Maintaining OP rating."

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

Shares of Trillium Therapeutics closed at $7.74 yesterday.

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