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On Wednesday, H.C. Wainwright reaffirmed a Buy rating and a $32.00 price target for Briacell Therapeutics (NASDAQ:BCTX) shares, representing significant upside potential from the current price of $5.35. The stock has shown recent momentum with a 19.42% gain over the past week, according to InvestingPro data. The endorsement comes after the company disclosed an enrollment update for its Phase 3 trial of Bria-IMT in the treatment of advanced/metastatic breast cancer. The trial has surpassed a milestone with over 100 patients consenting and more than 75 patients enrolled. Briacell noted that enrollment pace has increased, with 54 active clinical sites across 15 states now recruiting patients.
The Phase 3 trial aims to enroll a total of 404 patients, with an interim analysis planned after 144 patient events, specifically deaths, to compare overall survival (OS) between the Bria-IMT plus CPI combination regimen and the physician’s choice. InvestingPro analysis indicates the company maintains a healthy balance sheet with more cash than debt, though it’s currently experiencing rapid cash burn - a crucial factor for biotechnology companies in late-stage trials. The initial 150 patients are being randomized into three groups: Bria-IMT alone, Bria-IMT plus CPI, or physician’s choice. Following the enrollment of the first 150 patients, the monotherapy arm will be discontinued.
Briacell anticipates that it may complete enrollment by late 2025 or early 2026, with the possibility of presenting topline data in the first half of 2026. The open-label design of the trial allows for ongoing evaluation of the results. A positive outcome from the Phase 3 trial could lead to full FDA approval and the marketing authorization of Bria-IMT for metastatic breast cancer.
The analyst highlighted that Briacell is strategically positioned within the market, having manufactured all products in the United States and conducting a well-designed and controlled late-stage Phase 3 trial. The continuation of the Buy rating and the $32 price target reflect the analyst’s view of the significant upcoming milestone that could be expected within the next year for Briacell. With a market capitalization of just $19.11 million and analyst targets ranging from $15 to $32, investors seeking deeper insights into Briacell’s financial health and growth prospects can access additional analysis and 8 more exclusive ProTips on InvestingPro.
In other recent news, BriaCell Therapeutics Corp. has announced interim financial results for its subsidiary, BriaPro Therapeutics Corp., for the three and six-month periods ending January 31, 2025. These financial statements have been filed with the British Columbia and Alberta Securities Commissions, providing a detailed look at BriaPro’s financial activities. BriaCell also reported that it has regained compliance with Nasdaq’s minimum bid price requirement, resolving a previous issue where its shares had fallen below the $1.00 minimum bid price. This compliance was confirmed after the company maintained a closing bid price at or above the threshold for a sufficient period.
Additionally, H.C. Wainwright has raised its price target for BriaCell to $32, maintaining a Buy rating following positive results from a Phase 1 trial of Bria-OTS, a second-generation immunotherapy for metastatic breast cancer. The trial showed a complete resolution of a lung metastasis in the first treated patient. The success of Bria-OTS has also led to a 10% rise in BriaCell’s stock, reflecting investor optimism about the treatment’s potential. The ongoing Phase 1/2a clinical trial evaluates Bria-OTS both as a standalone treatment and in combination with an immune checkpoint inhibitor, marking a significant advancement in cancer treatment options.
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