Spain’s credit rating upgraded to ’A+’ by S&P on strong growth
Investing.com - TD Cowen has reiterated its Buy rating on PMV Pharmaceuticals Inc. (NASDAQ:PMVP), citing strong clinical results for the company’s cancer treatment. The company’s stock has surged over 31% in the past six months, and according to InvestingPro data, analysts maintain a Strong Buy consensus with price targets ranging from $5 to $18.
The firm highlighted the 45% objective response rate (ORR) with clean safety profile for PMV’s drug rezatapopt in second-line and beyond ovarian cancer patients, noting this significantly outperforms the current standard of care, which has less than 20% ORR in this population.
TD Cowen pointed to the interim median duration of response (mDOR) of 7.6 months, which it expects will increase over time, potentially meeting FDA requirements and opening a path to market approval.
The firm estimates the market opportunity at approximately $385 million, based on a projected $45,000 price point and approximately 900 ovarian cancer patients with the Y220C mutation in the United States.
TD Cowen also noted potential upside from future expansion into first-line treatment or endometrial cancer, and suggested PMV Pharmaceuticals represents an "attractive takeout opportunity" for potential acquirers.
In other recent news, PMV Pharmaceuticals has reported promising interim results from its Phase 2 PYNNACLE trial. The trial focuses on the experimental therapy rezatapopt, targeting the TP53 Y220C mutation in advanced solid tumors. The company announced a 33% overall response rate among 97 evaluable patients across eight different tumor types. Notably, the ovarian cancer cohort demonstrated a 43% response rate, with a median response duration of 7.6 months. These developments highlight the potential effectiveness of rezatapopt in treating specific cancer mutations. The trial’s data underscores the ongoing progress in precision oncology, as PMV Pharmaceuticals continues to evaluate the therapy’s impact. These recent findings are crucial for investors monitoring advancements in cancer treatment therapies.
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