H.C. Wainwright analyst Robert Burns reiterated a Buy rating on eFFECTOR Therapeutics (EFTR – Research Report) today and set a price target of $5.00.
Robert Burns based his Buy rating on several factors connected to the financial performance and promising clinical prospects of eFFECTOR Therapeutics. Burns noted that the company’s 3Q23 financial results were relatively consistent with previous estimates, recording a net loss of $0.13 per share against an anticipated net loss of $0.14. R&D and SG&A expenses were also roughly in line with their estimates, and Burns believes that eFFECTOR’s current financial resources should be sufficient to provide an operational runway into 2Q24.
Furthermore, Burns highlighted the potential of eFFECTOR’s lead candidate, zotatifin, to significantly impact treatment paradigms within oncology. Zotatifin is a novel selective inhibitor of eIF4A and has shown promise in multiple Phase 2a expansion cohorts, particularly in ER+ breast cancer and KRAS-mutant non-small cell lung cancer (NSCLC). The company presented intriguing results at ASCO 2023, with a partial response rate of 26% among RECIST-evaluable patients, which seems particularly promising compared to results from the MAINTAIN trial. Burns also pointed out that zotatifin’s utility in treating KRAS-mutant patients could be crucial in attracting investor interest. Therefore, Burns maintains his Buy rating based on the company’s solid financials and the potential of its clinical programs.
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eFFECTOR Therapeutics (EFTR) Company Description:
Locust Walk Acquisition Corp is a blank check company.
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