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Texas Biotech Advances Lead Candidate in Resistant AML

Source: Dr. Jonathan Aschoff


December 15, 2023 ( Newswire) Recently, Texas-based biotech Bio-Path Holdings Inc. announced it had completed the first safety cohort of a Phase 1/1b trial evaluating the developmental drug BP1002 in acute myeloid leukemia (AML). Read on to see what one Roth analyst has to say about the company's stock.

Bio-Path Holdings Inc. (BPTH:NASDAQ) recently completed the first safety cohort of a Phase 1/1b trial evaluating the developmental drug BP1002 in acute myeloid leukemia (AML), noted Roth MKM analyst Dr. Jonathan Aschoff in a December 14 research note.

One cohort showed no dose-limiting toxicity, clearing the way for further dose escalation in relapsed/refractory patients.

BP1002 targets Bcl-2 to potentially overcome venetoclax-resistance. With venetoclax use rising, the addressable population resistant to that therapy may expand over time. BP1002 inhibits Bcl-2 via a distinct mechanism from venetoclax while aiming to rescue refractory patients.

As first doses often have limited efficacy, Roth analyst Jonathan Aschoff expects improved outcomes in subsequent higher-dose cohorts. To date, Bio-Path's pipeline demonstrates a "highly favorable safety profile" across evaluated dose levels.

Upon completing the Phase 1 monotherapy segment, Bio-Path will initiate a Phase 1b portion combining BP1002 with decitabine. This regimen will be evaluated in the same AML population.

Valuation and Upside
Roth maintains a Buy rating and US$12 price target on Bio-Path based on discounted cash flow projections. This target implies over 2,300% upside from current levels, around US$0.49.

More Info: Newswire

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