In a report released yesterday, Jason McCarthy from Maxim Group maintained a Buy rating on Context Therapeutics (CNTX – Research Report), with a price target of $4.00.
Jason McCarthy’s Buy rating for Context Therapeutics is based on several considerations. First, the firm reported positive Q3 results, with a net loss of $5.9M and a cash balance of $21.7M, which is expected to sustain operations until late 2024. Additionally, Context Therapeutics presented encouraging preclinical data for its CLDN6-targeting asset, CTIM-76, at the Society for Immunotherapy of Cancer (SITC). Included in these results were the first in vivo data, along with comparative studies demonstrating CTIM-76’s high potency and target selectivity.
Furthermore, when CTIM-76 was compared to similar CLDN6-targeting drugs such as TORL-1-23 and AMG-794, it showed 10 times higher potency than AMG-794 in in vitro cytotoxicity and cytokine activation. CTIM-76’s activity was also consistent across various CLDN6 expression levels, unlike TORL-1-23, which depended on high CLDN6 expression. McCarthy also highlighted that the next significant event for Context Therapeutics is an IND filing, expected in Q1 2024, and the potential impact on the CLDN6 space could have on CTIM-76. The key is CTIM-76’s specificity for CLDN6, which could make it the most specific CLDN6-targeting asset in the space.
In another report released yesterday, H.C. Wainwright also assigned a Buy rating to the stock with a $5.00 price target.
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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
