UPDATE: H.C. Wainwright Starts Vincerx Pharma (VINC) at Buy
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H.C. Wainwright analyst Michael G. King, Jr. initiates coverage on Vincerx Pharma (NASDAQ: VINC) with a Buy rating and a price target of $25.00.
The analyst comments "Getting long this developer of a leading elongation factor inhibitor. Vincerx has all the elements for success, in our view: a top management team with a proven record in oncology; an exciting clinical asset with multiple pathways to registration, and significant funding to drive progress through key value inflection points without needing to recur to the capital markets. Management is largely composed by former Pharmacyclics execs, which was sold to AbbVie (ABBV; not rated) in 2015 for $21 billion. Pharmacyclics’ signature product was the BTK inhibitor, Imbruvica (ibrutinib), which pioneered a new class of genetically targeted, small molecule therapeutics that revolutionized the treatment of various hematologic malignancies, including chronic lymphocytic leukemia (CLL) and mantle cell lymphoma (MCL). Vincerx co-founder, Chairman and CEO, Ahmed Hamdy, MD, was formerly Chief Medical Officer of Pharmacyclics, while his fellow co-founder, Raquel Izumi, was Senior Director of Clinical Development there. The pair also co-founded Acerta Pharma, the developer of the second generation BTK inhibitor, Calquence (acalabrutinib), which was sold to AstraZeneca (AZN; not rated) for $7 billion. The pivotal academic founder of Vincerx is John Byrd, MD, Chairman of the Scientific Advisory Board and Chair of the Department of Medicine at the University of Cincinnati. Dr. Byrd is also the Chief Medical Officer of BEAT AML, a consortium chartered by the Leukemia & Lymphoma Society whose mission it is to speed novel therapies to patients in need. Dr. Byrd is a widely recognized expert in the field of CLL, and shares much of the credit for developing BTK inhibitors. Furthermore, Dr. Byrd has also participated in several trials of flavopiridol, a pioneering entry into the CDK9 inhibitor space."
Shares of Vincerx Pharma closed at $7.90 yesterday.
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