Intel stock extends gains after report of possible U.S. government stake
On Monday, Medicus Pharma Ltd. (NASDAQ:MDCX), currently trading at $4.59, saw its price target significantly increased by Boral (OTC:BOALY) Capital from $14.00 to $27.00, while the firm kept a Buy rating on the stock. The stock has shown strong momentum, gaining nearly 90% year-to-date according to InvestingPro data. This adjustment follows Medicus Pharma’s recent move to sign a binding letter of intent to acquire Antev Ltd., a deal that values Antev at about $75 million.
The acquisition is set to bring Teverelix into Medicus Pharma’s fold, a promising next-generation GnRH antagonist aimed at treating two major health issues: acute urinary retention (AUR) recurrence prevention and advanced prostate cancer in patients who are at high cardiovascular risk. For Medicus Pharma, which currently maintains a market capitalization of $53.8 million, this acquisition represents a significant strategic expansion. According to Boral Capital, Teverelix could potentially be the first approved drug for AUR recurrence, tapping into an estimated $2 billion market in the United States alone.
Boral Capital’s analysis suggests that Teverelix stands out due to its unique safety profile and dosing advantages. This could position it as a first-in-class therapy, which is particularly significant considering there are currently no approved drugs for AUR recurrence prevention. The firm views the acquisition as a strategic move that not only expands Medicus Pharma’s pipeline but also de-risks it, potentially leading to a more immediate portfolio ready for commercialization.
The analyst at Boral Capital expressed a positive outlook on the transaction, stating, "We view this transaction as a savvy, de-risked pipeline expansion that materially enhances Medicus’ near-commercial portfolio and positions the company for accelerated value creation." This sentiment aligns with the broader analyst consensus, which remains strongly bullish according to InvestingPro data, with price targets ranging from $5.61 to $20.00. This sentiment underscores the potential impact of the acquisition on Medicus Pharma’s growth trajectory and its ability to generate value for shareholders.
In other recent news, Medicus Pharma Ltd. has announced a strategic acquisition of Antev Ltd., a UK-based drug developer. This acquisition involves Antev shareholders receiving approximately 19% equity in Medicus, with up to $65 million in contingent payments linked to future FDA approvals. The deal is expected to close by June 2025, pending due diligence and regulatory approvals. Additionally, Medicus Pharma has expanded its phase 2 clinical trial for a non-invasive basal cell carcinoma treatment, increasing patient enrollment from 60 to 90, with additional clinical sites in the U.S. and Europe. Preliminary results indicate more than 60% of subjects showed complete clinical clearance of the skin cancer. In other developments, Medicus Pharma announced the cancellation of its previously scheduled shareholder meeting, with no further details provided on rescheduling. However, the company has set a new date for its annual meeting on May 22, 2025. This information was disclosed in a recent SEC filing, which also mentioned that shareholders on record by April 22, 2025, will be eligible to participate.
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