Quote from the opening of the report - "Prescient’s unique and targeted therapy pipeline has potential to garner increasing attention as it clinically matures. We are initiating coverage of Prescient with a Buy rating and $A0.20 price target. We believe Prescient is building an oncology franchise upon two pipeline assets that could address multiple tumor indications in targeted fashion, with potential increased market penetration in therapy resistant cancers. The company’s lead drug candidates, PTX-200 and PTX-100, inhibit two key oncogenic signaling pathways, Akt and KRAS, respectively, and could become differentiated targeted therapies against mutation activated tumors such as breast cancer (BCa), in our belief. We build our investment case on the potential success of PTX-200 in BCa, with a special emphasis on a subset of these tumors, referred to as hormonal therapy resistant (HTR). An important data update from this study is expected in 4Q19 following the readout of stage 1 of the Phase 2 trial in locally advanced breast cancer. Considering the ongoing BCa program, we project a launch for PTX-200 in late 2022 with approximately $440 million in peak U.S. sales in 2027. While the PTX-200 clinical program in BCa is forming the cornerstone of the company’s long-term value, the advancement into other tumor indications and PTX-100’s clinical path forward should give the company an increasing number of shots on goal."
PTX Price at posting:
5.6¢ Sentiment: None Disclosure: Not Held
