B.Riley Financial analyst Mayank Mamtani reiterated a Buy rating on PDS Biotechnology (PDSB – Research Report) today and set a price target of $14.00.
Mayank Mamtani assigned a Buy rating to PDS Biotechnology based on several significant factors. The updated survival data from the ongoing National Cancer Institute-led Phase II triplet combo trial has shown an impressive outcome. Specifically, 75% of immune checkpoint inhibitor (ICI) naive patients remained alive at 36 months, which is significantly higher than the typical survival rates at 12 and 24 months when patients are on standard care. In addition, the triplet combination has shown a 12-month overall survival rate of 72% in the ICI resistant arm, a highly favorable result compared to the published median overall survival rates for ICI therapy in HPV-positive cancer ICI resistant patients.
Furthermore, the updated data builds favorably on previously disclosed triplet data, outperforming the historical BA monotherapy based on multiple endpoints, including overall response rate and survival. This data suggests that the survival superiority to the standard of care and the refractory nature of the CPI-resistant population is due to the benefits derived explicitly from PDS0101 and PDS0103. Mamtani also notes the potential for the triplet-related registration-enabling path to follow suit on PDSB’s recent success with the more advanced doublet, PDS0101 + Keytruda, which is expected to be initiated imminently. These factors collectively led Mayank Mamtani to rate PDS Biotechnology with a Buy.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $21.00 price target.
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PDS Biotechnology (PDSB) Company Description:
PDS Biotechnology Corp. engages in the development of clinical-stage immunotherapies to treat various early-stage and late-stage cancers, including head and neck cancer, prostate cancer, breast cancer, cervical cancer, anal cancer, and other cancers. Its products PDS0101, is an off the shelf immunotherapeutic that is administered by subcutaneous injection. The company was founded on March 15, 2019 and is headquartered in Berkeley Heights, NJ.
Read More on PDSB:
- PDS Biotech Announces Updated Survival Data from NCI-Led Phase 2 Clinical Trial of PDS0101-Based Triple Combination Therapy in Advanced HPV16-Positive Cancer Patients which Show 75% Survival of ICI Naïve Patients at 36 Months
- PDS Biotechnology Announces Conference Call and Webcast for Third Quarter 2023 Financial Results
- Pds Biotechnology (PDSB) Q3 Earnings Cheat Sheet
- PDS announces preliminary study results of subset of patients in VERSATILE-002
- PDS Biotech Announces Interim Safety and Immune Response Data from Phase 1/2 Clinical Trial Evaluating Novel Antibody Drug Conjugate PDS0301 Combined with Docetaxel to Treat Metastatic Prostate Cancer
