Cowen starts Bicycle Therapeutics with 'outperform' rating

Bicycle Therapeutics

01/09/2022 11:59

** Cowen and Company starts coverage of biopharma co Bicycle
Therapeutics  BCYC.O  with "outperform" rating
    ** Brokerage believes BCYC's early-stage cancer drug
candidate, BT8009, could generate about $1 bln in peak global
sales by 2035
    ** In April, co announced its interim BT8009 phase-1 trials
results and confirmed that the overall response rate was 50%
 urn:newsml:reuters.com:*:nFWN2W702J
    ** "BT8009 data before year-end should reduce concerns over
BT8009's safety profile and lend a greater understanding for
which patients could derive the greatest benefit" - Cowen
    ** Avg. stock rating is "buy"; median PT is $60 - Refinitiv 
    ** As of last close, BCYC down ~57% this year
    

 (Reporting by Roshan Abraham in Bengaluru)
 ((Roshan.Abraham@thomsonreuters.com))