Roth Capital Weighs in on Celator Pharmaceuticals Inc (CPXX) Following Completion of Enrollment in Phase II Study of CPX-351
Roth Capital’s healthcare analyst Joseph Pantginis came out with a few insights on Celator Pharmaceuticals Inc (NASDAQ:CPXX), after the company announced enrollment completion of the supporting PK/PD Phase II study of CPX-351 in AML patients. The analyst also reiterated a Buy rating on Celator Pharmaceuticals shares, with a price target of $15.00, which implies a huge upside of 482% from current levels.
Pantginis noted, “Daunorubicin, being an anthracycline, is known to have cardiotoxicity as a main adverse event, often manifested as changes in ECG. These changes are specifically affecting repolarization, where the electrical potential of heart muscle cells restore to their resting potential. Liposomal formulations of anthracyclines cause less cardiac adverse events due to the encapsulation of the drug, which is the case for CPX-351. We therefore believe this study will establish CPX-351 as a safe delivery vehicle for Daunorubicin.”
“To date, this study enrolled 26 newly diagnosed AML, secondary AML and r/r AML patients. 15 of these patients were evaluable, of which six achieved CR/CRi. Two of these six patients were secondary AML patients, which is the indication studied in the ongoing Phase III study.”, the analyst added.
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 10.7% and a 52.0% success rate. Pantginis has a 20.1% average return when recommending CPXX, and is ranked #176 out of 3610 analysts.