Leerink Partners Starts Trillium Therapeutics (TRIL) at Outperform

Leerink Partners initiates coverage on Trillium Therapeutics (NASDAQ: TRIL) with a Outperform rating and a price target of $29.00.

Analyst Michael Schmidt commented, "TRIL is an early stage Biotech company developing SIRPαFC which blocks CD47, an emerging immuno-oncology (IO) target which is overexpressed on many tumor types. Although not yet clinically validated, based on the scientific literature and preclinical data, we believe targeting CD47 holds promise. TRIL plans to initiate Phase I trials in 4Q15, with data likely available in 2016 which represents a key de-risking event in our view. Whereas TRIL's initial focus is on developing SIRPαFC in AML and MDS, we believe potential future development in additional tumor types as single agent, or in combination with immune checkpoint inhibitors or with targeted antibodies represents a source of upside. TRIL's SIRPαFC in our view could also represent an attractive partnering/acquisition asset, given the rationale to combine with other agents and relative scarcity of CD47-targeted agents in development."

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 $24.21 yesterday.

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