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Investing.com - H.C. Wainwright has reiterated its Buy rating and $25.00 price target on Genenta Science S.p.A. (NASDAQ:GNTA), representing significant upside from the current price of $3.82. The stock has already shown momentum with a 23% gain over the past week, following encouraging long-term follow-up data from its TEM-GBM study in glioblastoma multiforme patients.
The company shared an update on July 1 from its long-term follow-up of patients enrolled in the TEM-GBM study for newly diagnosed glioblastoma multiforme. Of the 38 patients enrolled in TEM-GBM, 25 received Temferon treatment, with two patients now enrolled in the TEM-LT study for long-term follow-up. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 6.89 and holds more cash than debt on its balance sheet.
The data revealed that two patients in the TEM-LT long-term follow-up have reached three years of survival from the time of first surgery. One patient has shown no signs of disease progression since receiving Temferon and has not required any second-line therapies, while the other initially showed progression but later stabilized without further treatment.
Patients receiving Temferon maintained a two-year survival rate of 29%, with median overall survival at 17 months. This compares favorably to historical data for patients with unmethylated MGMT treated with standard of care, which shows approximately 14% two-year survival and 13-15 months median overall survival.
H.C. Wainwright views these results as encouraging, noting that Genenta remains well-positioned to address the significant unmet need in glioblastoma multiforme treatment as interest grows in advancing new therapies for this condition. With a market capitalization of $70 million and an overall Financial Health score of FAIR on InvestingPro, investors can access additional insights and 6 more key ProTips about GNTA’s investment potential through an InvestingPro subscription.
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