Biopharma Co. Ceases Program to Optimize Resources
Source: Hartaj Singh
May 17, 2023 (Investorideas.com Newswire) This French developer of investigative cancer therapies is focused on advanced its remaining programs and is amply funded to do so, noted an Oppenheimer report.
Cellectis SA (CLLS:NASDAQ; ALCLS:Paris) stopped enrollment and patient treatment in the MELANI-01 trial "to save resources," and Oppenheimer lowered its target price on the developer of immuno-oncological treatments as a result, reported analyst Hartaj Singh in a May 12 quarterly update note.
The purpose of the MELANI-01 trial was to evaluate UCARTCS1, one of Cellectis' proprietary allogeneic T-cell immunotherapy candidates, in relapsing or recurrent (r/r) multiple myeloma. Upon news that the biopharma curtailed this program, Oppenheimer removed UCARTCS1 from its valuation, Singh explained. This led to a drop in Oppenheimer's target price on Cellectis to US$11 per share, from US$13.
Implied 508% Return
Despite the lower target price, though, the life sciences company still offers investors significant potential gain. Specifically, the difference between the US$11 per share target and Cellectis' current roughly US$1.81 per share price implies a possible 508% return on investment. Further, the biopharma is rated Outperform.
Q1/23 Clinical Events
In other news, noteworthy developments took place during Q1/23 relative to some of Cellectis' clinical programs, Singh reported.
The France-headquartered firm's current immunotherapy candidates are UCART22 in r/r acute lymphoblastic leukemia (ALL) (BALLI-1 trial) and r/r non-Hodgkin's lymphoma (NATHALI-01 trial); UCART123 (AMELI-01 trial) in r/r acute myeloid leukemia (AML); and others via partnerships with the likes of Allogene and Servier.
Singh presented two of Cellectis' clinical achievements during Q1/23, taken from the company's financial results for the quarter and Oppenheimer's subsequent follow-up with its management team.
1) Cellectis expanded its UCART22 program into Europe with BALLI-01. The first patient was dosed, in France, with product manufactured in house. An update is expected in 2023.
2) Cellectis started enrolling patients in the two-dose regimen arm of the AMELI-01 trial, in which UCART123 at the level two dose will be administered. Results are expected this year.
Based on these and other recent clinical activities, 2023 should be "a year of compelling clinical updates" for Cellectis, purported Singh.
Well Cashed Up
Singh also pointed out Cellectis is well-positioned financially to continue advancing its clinical programs. The biopharma has been working to strengthen its balance sheet and had US$88 million in cash as of March 31, 2023. This, the analyst noted, should be enough to fund Cellectis through Q3/24.
More Info:
This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.
More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/
Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
