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On Friday, H.C. Wainwright analyst Joseph Pantginis revised the price target for PDS Biotechnology Corp (NASDAQ:PDSB) stock, lowering it to $13.00 from the previous $21.00, while still maintaining a Buy rating on the company’s shares. According to InvestingPro data, analyst targets now range from $4.50 to $13.00, with the stock currently trading at $1.25 after declining over 68% in the past year. The adjustment followed the announcement of PDS Biotechnology’s financial results for the fourth quarter and full year of 2024, which were revealed on Sunday, March 27, 2025.
PDS Biotechnology reported a fourth-quarter earnings per share (EPS) of ($0.21) and a full-year EPS of ($1.03), both figures surpassing the initial estimates of ($0.29) and ($1.11) respectively, and also outperforming the consensus estimates of ($0.31) for the quarter and ($1.40) for the year. At the end of 2024, the company reported having $41.7 million in cash reserves. InvestingPro analysis shows the company maintains more cash than debt on its balance sheet, with a healthy current ratio of 2.84x, though it’s quickly burning through available funds.
Despite the better-than-expected earnings results, PDS Biotechnology acknowledged the necessity to seek additional funding opportunities, such as equity and non-dilutive funding options, to support ongoing operations. These include the completion of the VERSATILE-003 trial, which is a significant aspect of the company’s pipeline.
In addition to financial updates, PDS Biotechnology shared several key milestones and updates regarding its pipeline. In March, the company began the Phase 3 VERSATILE-003 study, marking the activation of the trial’s first sites. Moreover, the U.S. Food and Drug Administration (FDA) recently cleared an Investigational New Drug (IND) application to study a combination of Versamune MUC1 and PDS01ADC in patients with MUC1-positive advanced colorectal carcinoma.
Furthermore, results from the IMMUNOCERV Phase 2 clinical trial, which involved treating locally advanced cervical cancer patients with Versamune HPV and chemoradiotherapy, were presented at the American Society for Radiation Oncology (ASTRO) ’24 conference.
The reiteration of the Buy rating by H.C. Wainwright, despite the reduction in price target, reflects ongoing confidence in PDS Biotechnology’s stock potential, underpinned by the company’s recent advancements and the progress of its clinical trials. InvestingPro indicates the stock is currently undervalued, with two analysts recently revising earnings estimates upward. Subscribers can access 12 additional ProTips and a comprehensive Pro Research Report for deeper insights into PDSB’s investment potential.
In other recent news, PDS Biotechnology Corp reported a net loss of $37.6 million for 2024, an improvement from the previous year’s loss of $42.9 million. This reduction was largely due to decreased research and development expenses, which fell from $27.8 million to $22.6 million. The company also raised $11 million through a direct offering in February 2025, bolstering its cash reserves. Additionally, PDS Biotech has initiated a Phase III clinical trial for Versimmune HPV, which is a significant milestone in its development pipeline. The trial aims to assess the efficacy of Versimmune HPV in combination with pembrolizumab for treating HPV16-positive head and neck cancer. PDS Biotech’s efforts to manage costs and advance its clinical trials come amid a challenging funding environment, as noted by the company’s CFO, Lars Bostart. The company is also exploring non-dilutive funding options and strategic partnerships to support its ongoing projects. These developments reflect PDS Biotech’s strategic focus on advancing its pipeline and improving its financial health.
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