Alaunos Therapeutics upgraded to buy at Wainwright on multiple catalysts
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H.C. Wainwright has boosted Alaunos Therapeutics (NASDAQ:TCRT) to buy from neutral citing several catalysts set to take place.
The firm also set a $1.50 price target (~163% upside based on Friday's close).
Analyst Arthur He praised the current management for providing a new clinical development strategy that has set the stage for upcoming catalysts.
One of those is presenting phase 1/2 data on its TCR-T cell therapies at the June annual meeting of the American Society of Clinical Oncology.
The data is on the treatment in six solid tumor indications. He expects Alaunos to start a phase 2 trial of the TCR-T program in the first half of 2024.
The analyst also highlighted the company's human neoantigen T-cell receptor (hunTR) platform which is used for TCR discovery and validation.
"By the end of 2023, the company expects to use their expanded hunTR infrastructure to add three new TCR product candidates to their library for a potential total of 15 TCRs," He wrote. "We anticipate management to generate partnerships to explore the utility of some of the new TCRs that potentially could not only validate the hunTR platform but also provide non-dilutive funding."
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