H.C. Wainwright analyst Emily Bodnar assigned a Buy rating on Context Therapeutics (CNTX – Research Report) today and set a price target of $5.00.
Emily Bodnar has given her Buy rating for Context Therapeutics due to a combination of factors. She sees potential in the company’s drug, CTIM-76, which is on track for its Investigational New Drug (IND) filing in the first quarter of 2024. The data presented by the company showed promising preclinical efficacy of CTIM-76 and its potential to be a differentiated CLDN6 targeting drug. The preclinical results indicated complete tumor regression in an ovarian cancer model and the drug was well tolerated in a toxicology study, with liver effects being generally mild. Furthermore, compared to competitor drugs, CTIM-76 was observed to be more potent, which could lead to an improved safety and efficacy profile.
Moreover, Bodnar believes that CTIM-76, due to its greater potency and selectivity, could demonstrate activity in other types of cancer such as NSCLC. She also anticipates the initiation of a Phase 1 study in the first half of 2024. From a financial perspective, despite the operating loss reported in the third quarter of 2023, Bodnar expects the company’s current cash and equivalents to fund operations into the second half of 2024. Her Buy rating is also underpinned by a discounted cash flow analysis, which projects value for CTIM-76 for treatment of different types of cancer with varying probabilities of success. However, she also notes the risks associated with clinical and preclinical programs, commercial competition, regulatory concerns, and financing requirements.
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Context Therapeutics (CNTX) Company Description:
Context Therapeutics Inc is a clinical-stage biopharmaceutical company dedicated to improving the lives of women living with cancer. The development team is advancing a pipeline of innovative therapies with a primary focus on treating female, hormone-dependent cancer, including breast, ovarian, and endometrial cancer.
Read More on CNTX:
- Context Therapeutics Reports Third Quarter 2023 Operating and Financial Results
- Context Therapeutics upgraded to Buy from Neutral at H.C. Wainwright
- Context Therapeutics announces preclinical data on CTIM-76
- Context Therapeutics Announces Acceptance of Abstract to be Presented at the Society for Immunotherapy of Cancer’s (SITC) 38th Annual Meeting
- Context Therapeutics initiated with a Buy at Maxim
