Tempest Therapeutics (TPST) has received a new Buy rating, initiated by H.C. Wainwright analyst, Joseph Pantginis.
Joseph Pantginis has given his Buy rating due to a combination of factors. This includes the impressive data from the MORPHEUS-Liver study conducted by Roche/Genentech, where Tempest Therapeutics’ TPST-1120 drug demonstrated significant improvements. This study compared the current first-line standard of care regimen, which includes atezolizumab and bevacizumab, with and without TPST-1120. The promising results indicated that TPST-1120 could be a valuable addition to the standard of care regimen in hepatocellular carcinoma (HCC).
Moreover, Pantginis believes Tempest Therapeutics is strongly positioned for business development, which is currently the company’s main priority. Importantly, the company retains global development and commercialization rights for TPST-1120, adding to its value. The potential for a Phase 3 trial and future partnership or acquisition adds further to the company’s prospects. Pantginis also raised his price target for Tempest Therapeutics from $35 to $47, based on an increased projected chance of success for TPST-1120 in HCC, from 15% to 25%. He also factored in a potential partnership for the drug with a 20% royalty to Tempest.
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Tempest Therapeutics (TPST) Company Description:
Millendo Therapeutics, Inc. is a biopharmaceutical company. The company is engaged in the development of novel treatments for endocrine diseases. Its products include livoletide and nevanimibe. The company was founded in April, 2011 and is headquartered in Ann Arbor, MI.
Read More on TPST:
- Tempest Releases New Data Demonstrating Superiority of TPST-1120 Arm Across Multiple Study Endpoints in Randomized First-Line HCC Study
- Tempest Adopts Limited Duration Stockholder Rights Plan
- Tempest to Report New and Updated Data from Global Randomized Combination Study of TPST-1120 in First-Line Hepatocellular Carcinoma
- Tempest Announces Expanded Role for Sam Whiting, M.D., Ph.D., as Chief Medical Officer and Head of Research and Development
