Galera extends rally, BTIG upgrades to "buy"

Galera Therapeutics

15/12/2021 11:10

** Drug developer Galera Therapeutics' shares  GRTX.O  up
15.9% at $3.13 premarket 
    ** Brokerage BTIG upgrades Galera to "buy" from "neutral",
establishes PT at $15   
    ** Co expects regulatory approval for GRTX's lead drug for 
treatment of radiotherapy-induced severe oral mucositis (SOM) in
patients with head and neck cancer after its corrected positive
late-stage results
    ** GRTX jumped 95.7% after results on Tuesday urn:newsml:reuters.com:*:nL4N2SZ2VM
    ** With its breakthrough designation, significant unmet
medical need to prevent SOM can be met, and co has limited
competition - BTIG
    ** SOM is a common debilitating complication of cancer
treatments like radiation therapy or chemotherapy, leading to
tissue swelling in the mouth
    ** 2 of 4 brokerages rate the stock "buy" or higher and 2
"hold"; their median PT is $15 - Refinitiv data
    ** Up to last close, stock had fallen 73.6% this year

 (Reporting by Bansari Mayur Kamdar in Bengaluru)
 ((BansariMayur.Kamdar@thomsonreuters.com;))