Leerink initiated coverage of Celcuity with an Outperform rating and $29 price target. Celcuity is a clinical-stage biotechnology company developing gedatolisib, a next-generation inhibitor of the PI3K/AKT/mTOR currently being evaluated in HR+ HER2- patients in the Phase 3 trial VIKTORIA-1. The firm notes early data suggest geda has the potential for a best-in-class PAM pathway inhibitor in patients with PIK3CA mutations and in wild-type patients. Phase 3 VIKTORIA-1 will prospectively segment patients into a PIK3CA WT cohort and a PIK3CA MT cohort, with the WT cohort readout in the second half of 2024 and the MT cohort readout in the first half of 2025. Leerink thinks both readouts have a high likelihood of succeeding based on its review of early datasets and historical expectations for the control arms in this trial.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CELC:
- Celcuity To Participate in Jefferies Global Healthcare Conference
- Celcuity prices 3.87M shares at $15.50 in underwritten common stock offering
- Celcuity Announces Pricing of Underwritten Common Stock Offering
- Celcuity Inc. Announces Plan to Initiate a Phase 3 Clinical Trial for Gedatolisib as First-Line Treatment for HR+/HER2- Advanced Breast Cancer and Secures Approximately $62 Million Debt Financing
- Celcuity announces plans to initiate Phase 3 trial of gedatolisib
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue