Wainwright lifts Calithera to 'buy' over clinical program progress

Calithera Biosciences

29/08/2022 14:06

** H.C. Wainwright upgrades Calithera Biosciences  CALA.O 
to "buy" from "neutral" as co's clinical programs are
progressing steadily
    ** Calithera has two ongoing clinical development programs
that are expected to provide data updates in Q2 of 2023
    ** Brokerage says if positive, both drugs could be evaluated
in registrational studies to achieve accelerated FDA approval
    ** CALA could potentially achieve risk-adjusted revenues of
$111 mln by 2030 and is undervalued at current valuation of
about $20 mln - Wainwright
    ** Stock down ~75.4% this year, as of last close

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com;))