UPDATE: Fusion Pharmaceuticals (FUSN) Started at Jeferies at Buy

(correcting rating action and updating comment)

Jefferies analyst Maury Raycroft initiates Fusion Pharmaceuticals (NASDAQ: FUSN) at Buy, PT $25.00

The analyst comments "FUSN is using its targeted alpha therapy (TAT) platform to attach an alpha-emitting payload (Ac-225) to an antibody so the payload is delivered specifically to tumor cells. Lead asset FPI-1434 uses TAT to deliver Ac-225 to IGF1R+ tumors, and after internalization, emitted alphas cause DNA damage and cell death. Different tumors/tgts can be pursued by changing the antibody. Though early, we like the approach and potential; initiate at Buy."

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