H.C. Wainwright bullish on Nkarta's lead cancer drug potential

Fate Therapeutics

08/03/2022 12:53

** Brokerage H.C. Wainwright starts coverage of Nkarta Inc
 NKTX.O  with a "buy" rating and PT of $25, citing strength of
cancer drug developer's cell therapy technology and potential of
its lead drug candidate
    ** Brokerage's PT represents upside of 158% to NKTX's last
closing price
    ** H.C. Wainwright highlights rival Fate Therapeutics'
 FATE.O  experimental therapy showed promise https://bit.ly/3CogwS6
 in patients with an aggressive blood cancer called acute
myeloid leukemia 
    ** Brokerage says if NKTX's lead candidate NKX101, which is
in an early-stage study, could also demonstrate similar
effectiveness and no safety concerns, there is potential for
significant upside for shares
    ** Believes data readout from study, expected in H1 2022,
could  potentially de-risk co's platform technology and boost
possibility of success for other drug candidates in its pipeline
    ** Stock had fallen 36.9% YTD, up to last close

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))