Biolinerx: Strong Preclinical Support And Prepping for Important Clinical Data, Says Roth Capital
In a research report issued yesterday, Roth Capital analyst Joseph Pantginis maintained a Buy rating on Biolinerx (NASDAQ:BLRX) with an $8 price target, after the company presented promising preclinical data at the Society of Hematologic Oncology (SOHO) 2014 Annual Meeting showing potency of BL-8040 in combination with a FLT3 inhibitor treating FLT3 mutated AML in mice.
Pantginis wrote, “While we do not generally focus on preclinical data, we believe these positive data highlight the potential of treating a sub-population of AML patients in need of a novel therapy addressing their particular genetic lesion. The FLT-3 internal tandem duplication (ITD) mutations are present in a significant portion of AML patients who have poor prognosis as well as high risk of relapse. The rationale for the combination stems from the MOA of the two candidate drugs, as they both converge on the same signaling pathway in AML cells, enabling them to proliferate uncontrollably and evade the immune system. This preclinical study strengthens tailored-approach cancer therapies as well as supports additional future combination studies of BL-8040 with FLT3 inhibitors. Recall that BL-8040 is currently in Phase II study in r/r AML patients (data expected in early 2015) and Phase I study of stem cell mobilization (data expected by YE14 or early 2015).”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joseph Pantginis has a total average return of -5.4% and a 35.3% success rate. Pantginis has a -9.7% average return when recommending BLRX, and is ranked #3236 out of 3286 analysts.