Tonix Pharmaceuticals stock halted ahead of FDA approval news
Investing.com - Brookline Capital Markets has upgraded Intensity Therapeutics , Inc. (NASDAQ:INTS) from Hold to Buy with a price target of $3.00, citing positive developments in the company’s clinical trials and improved financial position. The stock, currently trading at $0.29, sits well below analyst targets ranging from $1.50 to $5.00. According to InvestingPro data, the company’s market capitalization stands at approximately $13 million.
The upgrade follows Intensity’s second-quarter financial results and progress in its INVINCIBLE-4 Phase 2 trial, which is evaluating the efficacy of INT230-6 administered alongside standard of care for women diagnosed with triple negative breast cancer (TNBC).
Initial patient scan images from the trial showed substantial tumor necrosis eight days after dosing, according to Brookline Capital. The primary endpoint of the Phase 2 trial is change in pathological complete response rate from the combination therapy relative to standard of care treatment alone.
Brookline had previously lowered its rating to Hold and suspended its price target in May due to concerns about the company’s short cash runway. The firm has now reversed this position following Intensity’s successful raise of $11 million, which extends its cash runway to the second half of 2026.
The research firm sees a favorable risk-reward profile as INT230-6 advances through clinical trials, noting there is a significant unmet need for targeted, efficacious, and safe cancer therapies.
In other recent news, Intensity Therapeutics, Inc. reported a quarterly loss of $3.3 million, or $0.19 per share, for the first quarter of 2025. This result shows an improvement from the $4.6 million loss, or $0.34 per share, in the same period the previous year. The company also announced a public offering of common stock, with ThinkEquity as the sole book-running manager, to fund patient enrollment in its INVINCIBLE-4 Study and other corporate purposes. Additionally, Intensity Therapeutics has regained compliance with Nasdaq’s minimum stockholders’ equity requirement, meeting the $2.5 million threshold. In a promising development, the company’s experimental cancer drug INT230-6 demonstrated high levels of tumor necrosis in early-stage study participants with triple-negative breast cancer. Shareholders elected Mark A. Goldberg as a Class II director at the annual meeting, where approximately 59.73% of outstanding common stock was represented. Benchmark reiterated a Speculative Buy rating on Intensity Therapeutics with a $4.00 price target.
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