Intel stock spikes after report of possible US government stake
On Monday, H.C. Wainwright affirmed its Buy rating and $12.00 price target for Kairos Pharma (NYSE:KAPA), representing significant upside potential from the current trading price of $0.96. According to InvestingPro data, analyst targets for the stock range from $4.00 to $12.00, with a consensus Buy recommendation. The firm’s endorsement follows the announcement on April 17 that Kairos Pharma’s academic partner, Cedars-Sinai Medical (TASE:BLWV) Center, has been awarded a U.S. Department of Defense (DoD) grant. The grant, totaling $876,000, is set to bolster the progress of Kairos’ leading asset, ENV-105, in the treatment of EGFR-driven non-small cell lung cancer (NSCLC).
The DoD funding is aimed at supporting research to pinpoint biomarkers for NSCLC patients who have developed resistance to Osimertinib, the standard of care for EGFR-mutated NSCLC. This research is conducted in the laboratory of Kairos’ Chief Scientific Officer, Dr. Neil Bhowmick. InvestingPro analysis shows the company maintains strong liquidity with a current ratio of 4.2, and holds more cash than debt on its balance sheet, providing financial flexibility for its research initiatives. The identification of these biomarkers is expected to enhance the monitoring and early detection of drug resistance, thus enabling more timely intervention with ENV-105.
The financial backing from the DoD is seen as a confirmation of the potential effectiveness of ENV-105, particularly as it undergoes a Phase 1 clinical study. H.C. Wainwright anticipates that the additional funds will lead to improved patient outcomes and survival rates by allowing for more effective treatment strategies with ENV-105.
Kairos Pharma is optimistic that the DoD grant will contribute to a significant advancement in the clinical development of ENV-105. With updates from the initial Phase 1 study anticipated by the end of 2025, the firm’s reiteration of its Buy rating and price target reflects confidence in the future prospects of the treatment and the company’s stock performance. Despite the stock’s 63% decline over the past year, InvestingPro analysis indicates the company appears undervalued based on its Fair Value model. Subscribers can access additional insights, including 6 more ProTips and comprehensive financial metrics, to make more informed investment decisions.
In other recent news, Kairos Pharma Ltd. has received an $876,000 grant from the U.S. Department of Defense to fund research aimed at combating resistance to lung cancer treatment. This grant will support a study at Cedars-Sinai Medical Center focused on identifying biomarkers for non-small cell lung carcinoma patients resistant to osimertinib. Additionally, Kairos Pharma has announced the completion of the safety lead-in phase of its Phase 2 clinical trial for ENV105, a treatment for metastatic castration-resistant prostate cancer, which is now progressing to the randomized phase. The trial is supported by a grant from the National Cancer Institute and aims to validate biomarkers that could identify patients most likely to benefit from the combination therapy. Furthermore, H.C. Wainwright initiated coverage on Kairos Pharma with a Buy rating and a price target of $12, citing the potential of the company’s oncology pipeline to address cancer resistance. Kairos Pharma also reported a significant advancement in overcoming resistance to EGFR-targeted therapies in non-small cell lung cancer, with its antibody ENV105 showing promising results in preclinical models. Lastly, the company presented new preclinical data on compounds KROS 101 and KROS 401 at the American Association for Cancer Research Immuno-Oncology conference, indicating potential advancements in treating melanoma and glioblastoma.
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