UPDATE: H.C. Wainwright Starts Calithera Biosciences (CALA) at Buy

(update comment)

H.C. Wainwright analyst Swayampakula Ramakanth initiates coverage on Calithera Biosciences (NASDAQ: CALA) with a Buy rating and a price target of $7.00.

The analyst comments "Calithera is a pioneer in the development of therapies that target cellular metabolic pathways. The company’s lead product, telaglenastat, is a first-in-class, small molecule, oral glutaminase inhibitor for the treatment of kidney cancer, or renal cell carcinoma (RCC). Many cancer cells, including RCC, have altered metabolic profiles that make them dependent on glutamine for essential cellular functions including the biosynthesis of lipids, nucleotides, and amino acids. Telaglenastat is designed to target this unique weakness of cancer cells and has demonstrated clinical efficacy as both monotherapy and combination therapy across several indications, including RCC, breast cancer, and colorectal cancer. In our view, telaglenastat could become the new standard of care for RCC and has significant upside potential in additional indications as well."

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 $3.38 yesterday.

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