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 opened enrollment for the Phase 2 portion of its ongoing Phase 1/2 clinical trial (ZUMA-1) of KTE-C19 in patients with refractory, aggressive NHL. 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.
“Kite has achieved a pivotal milestone with the initiation of our Phase 2 KTE-C19 multi-center clinical trial in DLBCL. We are deeply grateful to the patients and clinical researchers who have participated in our program. We look forward to presenting top-line data from the Phase 1 portion of the trial at ASH and anticipate reporting interim results from the study next year,” said Arie Belldegrun, M.D., FACS, Chairman, President and Chief Executive Officer.
Dr. Belldegrun continued, “With inputs from regulatory agencies, we designed ZUMA-1 to enable market registration of KTE-C19 for refractory, aggressive NHL. Based on our progress and current timelines, Kite remains on track towards potential launch and commercialization of KTE-C19 in 2017.”
Kite’s ZUMA-1 trial of KTE-C19 is a single arm, open-label, multi-center study, designed to determine the safety and efficacy of KTE-C19 in patients with refractory diffuse large B-cell lymphoma (DLBCL), primary mediastinal B-cell lymphoma (PMBCL), or transformed follicular lymphoma (TFL). Kite expects that the Phase 2 portion of the trial will include a total of approximately 112 patients. Additional information about Kite’s Phase 1/2 study may be found at ClinicalTrials.gov, using Identifier NCT: 02348216. (Original Source)
Shares of Kite Pharma closed last Friday at $68.05. KITE has a 1-year high of $89.21 and a 1-year low of $35.82. The stock’s 50-day moving average is $63.47 and its 200-day moving average is $60.95.
On the ratings front, Kite has been the subject of a number of recent research reports. In a report issued on October 20, Maxim Group analyst Jason McCarthy maintained a Buy rating on KITE, with a price target of $87, which implies an upside of 27.8% from current levels. Separately, on October 16, Stifel Nicolaus’ Thomas Shrader reiterated a Buy rating on the stock and has a price target of $83.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jason McCarthy and Thomas Shrader have a total average return of -8.8% and -2.6% respectively. McCarthy has a success rate of 37.5% and is ranked #3514 out of 3808 analysts, while Shrader has a success rate of 52.6% and is ranked #2912.
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.