Barclays initiates Immunocore at 'overweight' on cancer pipeline prospects
30/11/2022 19:09
** U.S.-listed shares of Britain-based drug developer
Immunocore Holdings plc IMCR.O rise 2.6% to ~$62
** Barclays initiates coverage on IMCR with "overweight"
rating; assigns $80 PT
** Believes co's approach could disrupt cellular therapy and
broaden the types of cancer targets
** Brokerage expects positive disease control and safety
profile in IMCR's early-to-mid-stage study on ovarian cancer
therapy IMC-C103C
** Also expects promising data from another early-to-mid
stage trial testing IMC-F106C to treat solid tumors
** Anticipates peak sales of near $325 mln for IMC-C103C by
2032, and about $725 mln for IMC-F106C by 2033
** Sees IMCR's cash runway to extend through 2025, based on
its Q3 ended cash of $386.6 mln
** Including session's gain, stock up ~81% YTD
(Reporting by Pratik Jain in Bengaluru)
((Pratik.Jain@thomsonreuters.com;))