Instil Bio appoints new Chief Medical Officer

DALLAS - Instil Bio, Inc. (NASDAQ:TIL), a clinical-stage biopharmaceutical company with a market capitalization of $177 million, announced today the appointment of Jamie Freedman, M.D., Ph.D., as its new Chief Medical Officer. The appointment comes as the company’s stock demonstrates strong momentum, posting a 152% return over the past year according to InvestingPro data. Dr. Freedman brings over two decades of experience in oncology drug development to the firm, with a significant track record of successful drug approvals and launches.

Dr. Freedman’s expertise is expected to be pivotal in advancing Instil Bio’s lead asset, AXN-2510, a novel PD-L1xVEGF bispecific antibody designed for the treatment of multiple solid tumor cancers. Analysts maintain a bullish outlook on the company’s potential, with price targets ranging from $51 to $180, as revealed by InvestingPro data. The company’s CEO, Bronson Crouch, expressed confidence in Dr. Freedman’s ability to lead the development program with "scientific rigor and clinical urgency."

Prior to joining Instil Bio, Dr. Freedman held leadership positions at several prominent pharmaceutical companies, including Genentech, AstraZeneca, GSK, and Merck. His career contributions have led to 15 drug approvals across various therapeutic areas. A graduate of Tufts University, Dr. Freedman completed his medical training at the University of California, San Francisco, and Harvard University. He is also noted for his commitment to health equity, having initiated some of the first dedicated inclusive trials for underserved populations in the US and Africa.

Instil Bio focuses on developing innovative therapies for cancer, with AXN-2510 being at the forefront of its pipeline. While the company has expressed optimism about the potential of AXN-2510 to redefine the standard of care for solid tumors, it acknowledges the risks and uncertainties inherent in drug development. The forward-looking statements in the press release reflect the company’s expectations and are subject to change.

This news is based on a press release statement and provides an overview of the recent executive appointment at Instil Bio and the ongoing development of their lead therapeutic candidate. While the company maintains a strong financial position with a current ratio of 30.33, indicating robust liquidity, investors should note that analysts do not anticipate profitability this year, according to InvestingPro analysis, which offers additional insights and metrics for informed investment decisions.

In other recent news, Instil Bio has been the focus of several notable developments. H.C. Wainwright analyst Mitchell Kapoor increased the price target for Instil Bio shares to $125, up from $105, while maintaining a Buy rating. This adjustment follows promising Phase 1/2 dose escalation data for AXN-2510, a treatment for first-line non-small cell lung cancer, showing a 23% overall response rate in patients. Meanwhile, JMP analysts have reiterated a Market Perform rating on Instil Bio, reflecting their assessment of the company’s current market position and recent data insights shared at the ASCO meeting.

Additionally, Instil Bio’s collaboration with ImmuneOnco has been highlighted, with further data anticipated on other tumor types. In a separate analysis, H.C. Wainwright previously adjusted Instil Bio’s price target to $105, maintaining a Buy rating, in light of industry developments such as Pfizer’s significant investment in bispecific antibody treatments. Pfizer’s recent agreement to acquire rights to 3SBio’s PD-1 x VEGF bispecific antibody underscores the competitive landscape in which Instil Bio operates. These developments emphasize the potential clinical impact and value of bispecific treatments, as noted by analysts.

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