Kite Pharma Inc (NASDAQ:KITE), a clinical-stage biopharmaceutical company focused on developing engineered autologous T cell therapy (eACT™) products for the treatment of cancer, today announced that it has initiated a phase 2 clinical study of KTE-C19 (ZUMA-2) for the treatment of r/r MCL. KTE-C19 is an investigational therapy in which a patient’s T cells are genetically modified to express a chimeric antigen receptor designed to target the antigen CD19, a protein expressed on the cell surface of B-cell lymphomas and leukemias. In addition to ZUMA-2, Kite recently initiated a phase 2 clinical study of KTE-C19 (ZUMA-1) in patients with refractory, aggressive non-Hodgkin’s lymphoma (NHL).
“This phase 2 study in r/r MCL will address an unmet need in patients who have failed prior therapies,” said Arie Belldegrun, M.D., FACS, Chairman, President and Chief Executive Officer. “In addition to ZUMA-1 in refractory, aggressive NHL and ZUMA-2 in r/r MCL, we expect to initiate two additional pivotal KTE-C19 studies in acute lymphoblastic leukemia by the end of this year.”
ZUMA-2 will proceed as a single arm, open-label, multi-center study, designed to determine the efficacy and safety of KTE-C19 in patients with MCL whose disease is refractory to or has relapsed following anthracycline- or bendamustine-containing chemotherapy and anti-CD20 monoclonal antibody therapy and ibrutinib. This study plans to enroll 70 subjects. Additional details about this study will soon be posted to ClinicalTrials.gov. (Original Source)
Shares of Kite Pharma closed last Friday at $73.77. KITE has a 1-year high of $89.21 and a 1-year low of $37.76. The stock’s 50-day moving average is $64.64 and its 200-day moving average is $61.37.
On the ratings front, Kite Pharma has been the subject of a number of recent research reports. In a report issued on November 5, Stifel Nicolaus analyst Thomas Shrader maintained a Buy rating on KITE, with a price target of $83, which implies an upside of 12.5% from current levels. Separately, on November 2, Cowen’s Eric Schmidt reiterated a Buy rating on the stock .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Thomas Shrader and Eric Schmidt have a total average return of 4.3% and 31.0% respectively. Shrader has a success rate of 63.2% and is ranked #1629 out of 3829 analysts, while Schmidt has a success rate of 61.5% and is ranked #37.
The street is mostly Bullish on KITE stock. Out of 7 analysts who cover the stock, 6 suggest a Buy rating and one recommends to Hold the stock.
Kite Pharma Inc is a clinical-stage bio pharmaceutical company focused on the development and commercialization of novel cancer immunotherapy products designed to harness the power of a patient’s own immune system to eradicate cancer cells.