Buy Rating for Notable Labs: Financial Stability and Strategic Advances in AML Clinical Trials

Notable Labs (NTBL – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Silvan Tuerkcan from JMP Securities reiterated a Buy rating on the stock and has a $9.00 price target.

Silvan Tuerkcan’s rating is based on several encouraging developments surrounding Notable Labs’ upcoming clinical trials and strategic planning. The initiation of the accelerated volasertib AML trial is particularly significant, as it capitalizes on previous clinical outcomes to bypass earlier trial phases and proceed directly to a Phase 2 trial with PPMP-selected patients. Tuerkcan also points to the company’s financial readiness, with a solid cash balance that is projected to sustain operations into the fourth quarter of 2024. This financial stability, along with the anticipation of data in the same quarter, supports the Market Outperform rating and a DCF-derived price target.
Furthermore, the analyst acknowledges Notable Labs’ ability to use data from the fosciclopirox trial to refine their clinical development strategy for volasertib. The company’s adoption of PPMP, a flow-cytometry-based predictive measure, as a companion diagnostic tool for identifying likely responders to volasertib is seen as a strategic advantage. The capability to analyze cryopreserved samples enhances the company’s research flexibility and the potential applicability of PPMP. These factors, combined with presentations at the AACR that underscore the potential of PPMP and the forthcoming presence at the JMP Securities Healthcare Conference, contribute to the Buy rating for Notable Labs.

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Notable Labs (NTBL) Company Description:

Vascular Biogenics Ltd. is in the clinical-stage biopharmaceutical company, which engages in the discovery, development and commercialization of first-in-class treatments for cancer. It offers different programs for cancer and inflammatory disease patients such as vascular targeting system and Lecinoxoids. The company was founded by Dror Harats and Jacob George on January 27, 2000 and is headquartered in Modi’in, Israel.