Texas Biotech Advances Lead Candidate in Resistant AML
Source: Dr. Jonathan Aschoff
December 15, 2023 (Investorideas.com 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.
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