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Investing.com - H.C. Wainwright has reiterated a Buy rating and $32.00 price target on Briacell Therapeutics (NASDAQ:BCTX), representing significant upside from the current price of $2.07. The bullish stance follows promising survival data from its Phase 2 study of Bria-IMT combined with checkpoint inhibitors in metastatic breast cancer patients. With a market capitalization of just $13.9 million, InvestingPro analysis shows the company maintains a healthy current ratio of 3.41, indicating strong short-term liquidity.
The company recently announced that 52% of patients from its latest cohort of 25 participants have surpassed the one-year survival milestone. Of these enrolled patients, 11 remain alive as of the most recent evaluation, with one patient reaching 38.3 months survival after five prior lines of therapy. InvestingPro subscribers have access to 15+ additional exclusive insights about BCTX, including detailed analysis of its financial health and growth metrics.
Another patient has reached 30.3 months survival after seven prior lines of therapy, including treatment with Enhertu. Additional long-term survival was observed in three patients at 21.6, 20.0, and 19.4 months who had received 8, 9, and 5 prior lines of therapy, respectively.
H.C. Wainwright noted these survival rates exceed the current standard of care in this heavily pre-treated patient population, which had a median of six prior therapy lines. Comparable analyses have shown one-year survival rates ranging from approximately 23-47% in less heavily pre-treated populations with median 2-4 prior lines of therapy.
No patient discontinuations due to Bria-IMT treatment were reported in the study. Final median overall survival calculations are still pending for certain patient subpopulations as several patients remain alive, with potential median overall survival data expected in late 2025 or early 2026. According to InvestingPro data, the company holds more cash than debt on its balance sheet, providing financial flexibility to continue its clinical development programs.
In other recent news, BriaCell Therapeutics Corp. announced a significant development in its Phase 1/2a study involving its novel immunotherapy, Bria-OTS. A breast cancer patient, previously unresponsive to multiple treatments, achieved a 100% resolution of lung metastasis after receiving Bria-OTS, with the positive outcome sustained at a four-month follow-up. This result highlights the potential of BriaCell’s personalized immunotherapy approach, as noted by Dr. William V. Williams, the company’s President and CEO. In another development, H.C. Wainwright reaffirmed its Buy rating for BriaCell with a price target of $32.00, following an update on the company’s Phase 3 trial of Bria-IMT. The trial has successfully enrolled over 75 patients out of the planned 404, with an interim analysis set after 144 patient events. The analyst emphasized the strategic positioning of BriaCell, given its U.S.-based manufacturing and well-structured trial. The potential for full FDA approval and marketing authorization for Bria-IMT could be a significant milestone for the company.
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