Adlai Nortye initiated with a Buy at H.C. Wainwright

H.C. Wainwright analyst Joseph Pantginis initiated coverage of Adlai Nortye with a Buy rating and $9 price target. Adlai is a clinical stage biotechnology company focused on developing innovative immuno-oncology therapies across a range of tumor indications, the analyst tells investors in a research note. The firm says the company has a “robust pipeline” of six drug candidates in development including three clinical assets, and several clinical catalysts expected over the next 12-18 months. It believes Adlai is on its way to become a global biopharmaceutical company “developing a strong and highly differentiated product pipeline.”