Roth Capital Reiterates Buy On Stemline Following Initiation Of Clinical Development Program
In a research report published today, Roth Capital analyst Joseph Pantginis reiterated a Buy rating on Stemline Therapeutics, Inc. (STML) with a $62 price target, following today’s news of the opening of STML’s Investigational New Drug (IND) of SL-401 as well as the initiation of its multi-center, open-label clinical study of SL-401 in blastic plasmacytoid dendritic cell neoplasm (BPDCN) and relapsed/refractory acute myeloid leukemia (AML).
Pantginis noted, “We believe that with this newly announced clinical study, STML is creating a strong position in the field of rare IL-3R+ hematological malignancies with high unmet need. STML’s plan for clinical studies in additional similar rare indications support this view. STML is designing this initial study to serve as a basis for potential accelerated approval in BPDCN and also provide a potential guidepost for the larger planned randomized study in r/r AML. While rare, all the malignancies on STML’s radar for SL-401 have an existing infrastructure at major institutions like Mayo and M.D. Anderson where most of these patients are referred. We are impressed by the company’s strategic planning ahead, focusing on high unmet need ultra orphan cancers and building a clinical approach that could potentially allow for a speedier approval”.
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform analyst Joseph Pantginis has a -8.4% average return and a 33.3% success rate. Pantginis has a -38.2% average return when recommending STML, and is ranked #2951 out of 3003 analysts.