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Investing.com - Oppenheimer initiated coverage on BridgeBio Oncology Therapeutics, Inc (NASDAQ:BBOT) with an Outperform rating and a $23.00 price target on Thursday. The target represents significant upside potential from the current trading price of $9.84, with the stock currently trading near its 52-week low of $8.50. InvestingPro data shows the company has a market capitalization of $233 million.
The research firm highlighted the company’s focus on developing drugs targeting the RAS pathway, which is active in more than 50% of cancers and has been described as a "Holy Grail for cancer therapy."
Oppenheimer noted that current RAS-targeting drugs only work in a limited number of patients, and BridgeBio aims to change that situation with its pipeline of candidates.
The firm pointed to BBO-8520, described as a "souped-up KRAZATI" targeting the KRASG12C mutant, as the company’s initial offering in this space, despite acknowledging the increasingly competitive landscape for G12C-targeting therapies.
Oppenheimer also emphasized BBO-10203 as BridgeBio’s "ace in the hole," suggesting the company has the necessary components to become a leader in combination therapies targeting the RAS pathway.
In other recent news, BridgeBio Oncology Therapeutics is set to undergo a significant merger with Helix Acquisition Corp. II, with shareholders scheduled to vote on the proposed business combination on August 4, 2025. The U.S. Securities and Exchange Commission has already declared the registration statement related to this merger effective, indicating regulatory progress. In addition to the merger developments, Cantor Fitzgerald has initiated coverage of BridgeBio Oncology with an Overweight rating. The research firm emphasized the company’s focus on developing potentially first- and best-in-class drugs targeting the RAS pathway, including inhibitors of KRAS and PI3Kα. These pathways are among the most commonly mutated in cancer, highlighting the potential impact of BridgeBio’s drug development efforts. These recent developments underscore BridgeBio Oncology’s strategic moves in both corporate structuring and therapeutic innovation.
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