SVB Securities sees promise in Fusion Pharma's cancer therapy

Fusion Pharmaceuticals

30/11/2022 14:10

** Brokerage SVB Securities initiates coverage of
radiopharmaceutical-focused biotech company Fusion
Pharmaceuticals Inc  FUSN.O  with "outperform" rating 
    ** SVB sees co's early-stage cancer drug FPI-1434's approach
to be safe based on initial data; Assigns FUSN PT of $6 
    ** Brokerage expects the drug to have a reasonable chance in
showing anti-tumor activity with the new antibody-dosing
strategy that could clear uncertainty related to the approach 
    ** FPI-1434 is needed to achieve adequate dose delivery to
the tumor while sparing normal tissue in the new antibody-dosing
approach - brokerage
    ** FUSN to post update on FPI-1434 in H1 2023 
    ** SVB expects co's cash runway to fund business activities
into Q3 of 2024 on strength of Q3 2022 ended cash and
equivalents of $205.5 mln 
    ** As of last close, stock was down ~48% YTD
 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))