Yanan Zhu, an analyst from Wells Fargo, maintained the Hold rating on Adaptimmune Therapeutics (ADAP – Research Report). The associated price target is $3.00.
Yanan Zhu’s Hold rating for Adaptimmune Therapeutics is based on a variety of factors. The ESMO update on SURPASS was consistent with previous readouts, which Zhu found promising. Particularly, there was an increase in the median duration of response in the bladder cancer cohort. However, the PD1 combination data, which showed a 20% overall response rate, was deemed too preliminary to make solid conclusions about the efficacy of the combination strategy.
The focus of the program remains on ADP-A2M4CD8 + KEYTRUDA for 1L H&N and 2L UC in ongoing SURPASS cohorts. Meanwhile, data from the OPDIVO combo arm and the monotherapy arm showed encouraging overall efficacy. However, the safety profile revealed a high incidence and severity of adverse events, including Grade 3 adverse events in 89.3% of patients and three cases of fatal adverse events. These mixed results contribute to the Hold rating, suggesting that while there are promising elements, there are also significant uncertainties.
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Adaptimmune Therapeutics (ADAP) Company Description:
Adaptimmune Therapeutics Plc engages in the development of novel cancer immunotherapy products. Its specific peptide enhanced affinity receptor platform enables the engineering of T-cells to target and destroy cancer, including solid tumors. The company was founded by Bent K. Jakobsen, James Julian Noble, and Helena Katrina Tayton-Martin in 2008 and is headquartered in Abingdon, the United Kingdom.
