Genelux initiated with a Buy at Guggenheim

Guggenheim last night initiated coverage of Genelux (GNLX) with a Buy rating and $8 price target Genelux is a clinical-stage Biotech company leveraging its proprietary Choice platform-derived library of isolated and engineered oncolytic vaccinia virus product candidates, the analyst tells investors in a research note. The firm says that at the stock’s current market cap and near-zero enterprise value, there is a positive risk/reward heading into the Phase III PRROC dataset next year.