OnKure Therapeutics initiated with an Outperform at LifeSci Capital

LifeSci Capital initiated coverage of OnKure Therapeutics with an Outperform rating and $31 price target OnKure is focused on developing its lead program, called OKI-219, and aims to induce stronger antitumor activity than the approved PI3K inhibitor, Piqray, for H1047R-mutated advanced breast cancer patients, while at the same time sparing patients from the on-target, off-tumor toxicities associated with inhibiting PI3Kalpha WT in healthy cells, the analyst tells investors. The key upcoming readout from OnKure are early data in Q4 2024 from Part A of the PIKture-01 study, the analyst noted.