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Investing.com - H.C. Wainwright has reiterated its Buy rating and $10.00 price target on Nuvectis Pharma (NASDAQ:NVCT), representing a 53% upside from the current price of $6.55. The renewed confidence comes following clinical updates presented at the AACR-NCI-EORTC International Conference on Molecular Targets and Cancer Therapeutics. According to InvestingPro data, analyst targets for NVCT range from $10 to $25.
The company presented data from two clinical studies of its NXP900 drug: a dose escalation study in patients with advanced solid tumors and a drug-drug interaction study in healthy volunteers.
In the dose escalation study involving 33 patients with advanced cancers, once-daily NXP900 at doses ranging from 20-300 mg demonstrated an acceptable safety profile with mainly Grade 1-2 side effects including diarrhea, fatigue, and nausea. The drug showed linear dose-exposure and robust pharmacodynamic activity at doses of 150 mg or higher.
The drug-drug interaction study in healthy volunteers revealed that NXP900 does not induce key CYP450 enzymes (1A2, 2B6, and 3A), supporting its potential suitability for combination treatment approaches.
Pooled analysis showed that once-daily NXP900 produces a rapid and durable reduction in phosphorylated SRC in peripheral blood mononuclear cells at steady state across the 150-250 mg/day dose range, confirming robust target engagement in patients at clinically relevant doses.
In other recent news, Nuvectis Pharma has announced several significant developments. The company has initiated a Phase 1b program for its cancer drug NXP900, following successful earlier studies. This program will explore NXP900 as a single agent in patients with specific genetic alterations and in combination with other treatments later this year. Meanwhile, Nuvectis has decided to halt further development of its NXP800 drug for ovarian cancer, despite some clinical activity observed in a Phase 1b study. The decision was influenced by the management of thrombocytopenia, a key toxicity identified in the study.
Additionally, H.C. Wainwright has adjusted its price target for Nuvectis Pharma to $10.00, down from $15.00, while maintaining a Buy rating. The adjustment reflects the removal of NXP800 from the firm’s projections, focusing on U.S. opportunities for NXP900. In corporate governance news, Nuvectis has appointed Juan Sanchez, MD, to its Board of Directors. Dr. Sanchez brings experience from his previous role at Intra-Cellular Therapies, which was acquired by Johnson & Johnson. These developments indicate a strategic shift in Nuvectis Pharma’s focus and future direction.
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