H.C. Wainwright starts coverage of Artiva Biotherapeutics with 'buy' rating

Artiva Biotherapeutics

30/12/2024 12:09

** Brokerage H.C. Wainwright starts coverage of drug
developer Artiva Biotherapeutics  ARTV.O  with "buy" rating and
PT of $20
    ** PT represents an ~88% upside to stock's last close
    ** Co is testing its experimental drug, AlloNK, for an
autoimmune disease called systemic lupus erythematosus (SLE) in
combination with antibodies Rituxan or Gazyva
    ** SLE is a condition where the immune system attacks the
body's own tissues 
    ** Brokerage notes "current treatment options do not
effectively control disease progression"
    ** Says AlloNK costs less than $6,000 per patient for ARTV
to produce, compared to ~$100,000 for auto-CAR T therapies 
    ** Co has capacity to produce enough AlloNK for over 1,000
autoimmune patients annually, H.C. Wainwright says
    ** Brokerage expects AlloNK to launch by 2029 and forecasts
sales to grow to $531 mln by 2031
    ** As of last close, stock has fallen ~34% YTD

 (Reporting by Kamal Choudhury in Bengaluru)
 ((Kamal.Choudhury@thomsonreuters.com;))