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Investing.com - Brookline Capital Markets initiated coverage on TuHURA Biosciences (NASDAQ:HURA) with a buy rating and a price target of $9.00 on Monday. The stock, currently trading at $2.58, has significant upside potential according to analysts, with targets ranging from $9.25 to $15.00. InvestingPro data shows the company maintains a Fair financial health rating despite current market challenges.
The research firm cited TuHURA's advancement of innate immune agonists, checkpoint inhibitors, and antibody-drug conjugates designed to overcome checkpoint inhibitor resistance and modulate tumor microenvironment as key factors in its rating decision.
TuHURA's lead clinical asset, IFx 2.0, is preparing to enroll patients in a randomized, placebo-controlled Phase 3 trial as an adjunctive therapy to pembrolizumab in Merkel cell carcinoma patients, with a special protocol assessment already in place with the FDA.
The company will expand its pipeline following the Kinta merger, which is expected to be completed in the first half of 2025, adding KVA12123, a VISTA-blocking monoclonal antibody infusion drug with a Phase 2 trial in NPM1 mutAML expected to begin in the fourth quarter of 2025.
Brookline Capital Markets noted a favorable risk-reward profile as IFx-2.0 advances through clinical trials, pointing to the significant unmet need for treatments to overcome CPI resistance in Merkel cell carcinoma.
In other recent news, TuHURA Biosciences has announced significant developments in its clinical trials and financial strategies. The U.S. Food and Drug Administration (FDA) lifted a partial clinical hold on TuHURA's Phase 3 trial for its cancer treatment, IFx-2.0, allowing the trial to proceed under a Special Protocol Assessment (SPA) agreement. This advancement is expected to enroll 118 patients across multiple U.S. sites, aiming to evaluate the efficacy of IFx-2.0 when used with Keytruda® for treating Merkel Cell Carcinoma. Additionally, the company secured $15.5 million in funding through a private placement and warrant exercises, earmarked for advancing their cancer treatment pipeline, including the Phase 3 trial for IFx-2.0 and a Phase 2 trial for a novel VISTA-inhibiting antibody.
Moreover, TuHURA has initiated a Phase 1b/2a clinical trial for IFx-Hu2.0, targeting metastatic Merkel cell carcinoma without skin lesions, with results anticipated by late 2025 or early 2026. The company also disclosed increased base salaries for its CEO and CFO, aligning with compensation trends within its peer group. These recent developments reflect TuHURA's ongoing commitment to advancing its oncology pipeline and addressing resistance in cancer immunotherapies. The company's progress is further supported by its anticipated merger with Kineta, Inc., which aims to expand its portfolio and enhance its therapeutic offerings.
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