Chardan sees multiple catalysts for VBL Therapeutics in 2022

Notable Labs

28/04/2022 18:19

** Chardan Research says 2022 will be a catalyst-rich year
for drug developer  VBLT.O  with multiple study data readouts
which may prove to be value inflection points for co
    ** Initiates with 'buy' rating and PT of $5, an over 200%
premium to stock's last closing price
    ** Co expects to report top-line data from pivotal trial of
its experimental therapy, ofra-vec, in platinum-resistant
ovarian cancer
    ** Brokerage says based on interim analysis, study is set up
to be a success, and positive data could support company plans
to submit marketing application in 1H23
    ** Conservatively forecasts ofra-vec achieving 2028
risk-adjusted sales of $224 mln after a 2023 launch - Chardan
    ** Prelim data from recurrent glioblastoma and colorectal
cancer studies also expected this year
    ** VBLT shares up 6.3% at $1.67


 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))