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Investing.com - H.C. Wainwright has reiterated its Buy rating and $15.00 price target on BiomX (NYSE:PHGE), representing significant upside from the current price of $0.43, following the company’s announcement that patient dosing has commenced in its Phase 2b trial for BX004. According to InvestingPro data, the company maintains a healthy balance sheet with more cash than debt, though it’s currently valued at just $11.23 million.
The trial evaluates BX004 for treating chronic respiratory infections caused by Pseudomonas aeruginosa bacterial strains in cystic fibrosis patients. This study builds upon a positive Phase 1b/2a study, which demonstrated 14.3% of patients cleared infections completely after 10 days of treatment, including individuals with decade-long chronic infections. While InvestingPro analysis indicates the company is quickly burning through cash, it maintains a strong current ratio of 3.35, suggesting adequate resources for near-term operations.
The Phase 2b study is designed as a randomized, double-blind, placebo-controlled trial evaluating BX004 in approximately 60 CF patients with chronic PsA infections. Patients will be randomized 2:1 to receive either BX004 or placebo via inhalation twice daily for 8 weeks.
Multiple efficacy endpoints will be measured, including reduction in bacterial burden, improvements in lung function as measured by FEV1, and enhanced quality of life as measured by Cystic Fibrosis Questionnaire-Revised and Chronic Respiratory Infection Symptom Score.
BiomX plans to meet with the FDA in the second half of 2025 to discuss real-world evidence in CF patients and seek regulatory endorsement for potential future filings, with topline results from the Phase 2b study expected in the first quarter of 2026. Despite the stock’s 87% decline over the past year, InvestingPro analysis suggests the company is currently undervalued, with 12 additional exclusive ProTips available to subscribers.
In other recent news, BiomX has initiated a Phase 2b trial for its cystic fibrosis therapy, BX004, targeting antibiotic-resistant Pseudomonas aeruginosa infections. This trial involves approximately 60 patients and follows promising results from earlier studies, where 14.3% of participants achieved complete bacterial clearance. BiomX expects to release topline results from this trial in the first quarter of 2026. In related developments, H.C. Wainwright has maintained its Buy rating for BiomX but adjusted the stock’s price target to $15.00 from $21.00. This adjustment comes after BiomX reported a loss per share of $0.33, outperforming the analyst’s expectation of a $0.42 loss. The company ended the quarter with $21.2 million in cash, expected to support operations into early 2026. Additionally, BiomX is in discussions with the U.S. Defense Health Agency regarding its BX211 program for diabetic foot osteomyelitis. The company plans to start a Phase 2/3 trial and anticipates a Phase 2b data readout for BX004 in early 2026.
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