Krystal Biotech early lung cancer data ‘promising,’ says H.C. Wainwright

H.C. Wainwright reiterates a Buy rating on Krystal Biotech (KRYS) with a $221 price target after the company announced initial clinical results from its ongoing KYANITE-1 study evaluating inhaled KB707 in patients with solid tumors of the lung. The company saw early evidence of monotherapy activity in 11 evaluable non-small cell lung cancer patients, including an overall response rate of 27% with three partial responses, the analyst tells investors in a research note. The firm says the “promising” early data strengthens the inhaled KB707 for solid tumor thesis.