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With Upcoming Contentious Meeting, This Analyst Cuts Price Target On Spectrum Pharma

With Upcoming Contentious Meeting, This Analyst Cuts Price Target On Spectrum Pharma

随着争议会议即将到来，这位分析师下调了Spectrum Pharma的目标股价
Benzinga Real-time News ·  2022/09/21 14:21
  • On Tuesday, the FDA released briefing documents related to Spectrum Pharmaceutical Inc's (NASDAQ:SPPI) application for poziotinib for treating patients with previously treated locally advanced or metastatic NSCLC.
  • HC Wainwright says that though they were ready for a contentious ODAC meeting, the questions and the text in the ODAC briefing documents suggest a more argumentative meeting than expected.
  • The analyst reiterates the Buy rating but cuts the price target from $12 to $9.
  • "We understood that the side effect profile at the 16mg QD dose would come into question, but the focus on questioning efficacy raises some concerns," the analyst writes.
  • The recent accelerated approval of Daiichi Sankyo (OTC:DSKNY)-AstraZeneca Plc's (NASDAQ: AZN) Enhertu with 58% ORR and an mDOR of 8.7 months also provides more headwinds for poziotinib, the analyst says.
  • None of the other approved NSCLC therapies referenced in the briefing documents specifically indicated for HER2 exon 20 insertion mutations.
  • HC Wainwright lowered the probability of success for poziotinib to 50% from 70%. Considering if the approval comes on November 24, the analyst estimates launch soon with sales of $2.2 million in 2022 and $328 million in 2026.
  • Price Action: SPPI shares are down 3.45% at $0.64 on the last check Wednesday.
  • 美国食品药品管理局周二发布了与Spectrum Pharmaceutical Inc（纳斯达克股票代码：SPPI）申请波齐奥替尼治疗先前接受过局部晚期或转移性非小细胞肺癌治疗患者相关的简报文件。
  • HC Wainwright说，尽管他们已经为有争议的ODAC会议做好了准备，但ODAC简报文件中的问题和案文表明，这次会议的争论性比预期的要多。
  • 分析师重申了买入评级，但将目标股价从12美元下调至9美元。
  • 分析师写道：“我们知道16mg QD剂量的副作用会受到质疑，但是对疗效的质疑引起了一些担忧。”
  • 该分析师表示，第一三共集团（场外交易代码：DSKNY）——阿斯利康集团（纳斯达克股票代码：AZN）Enhertu最近加速获得批准，其OR率为58％，mDor为8.7个月，这也为波齐奥替尼带来了更多不利因素。
  • 简报文件中提及的其他经批准的非小细胞肺癌疗法均未特别针对HER2外显子20插入突变。
  • HC Wainwright将波齐奥替尼的成功概率从70％降至50％。考虑到是否在11月24日获得批准，分析师估计很快就会推出，2022年的销售额为220万美元，2026年的销售额为3.28亿美元。
  • 价格走势：在周三的最后一次支票中，SPPI股价下跌3.45％，至0.64美元。
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