JonesTrading starts coverage of Point Biopharma with 'buy' on pipeline strength

POINT Biopharma Global

07/09/2022 14:37

** JonesTrading initiates coverage of Point Biopharma Global
Inc  PNT.O  with 'buy' rating, citing potential of co's lead
drug candidates as well as approach to cancer therapy
    ** Brokerage sets PT of $22 on stock, a 51.72% premium to
PNT's last closing price
    ** PNT is developing 'radiopharmaceutical' therapies
designed to deliver radiation to tumors and damage cancer cells
without harming surrounding tissues
    ** Brokerage highlights company plans to commercialize lead
candidates PNT2002 and PNT2003 by 2025, notes they will compete
with Novartis'  NOVN.S  FDA-approved prostrate cancer therapy
Pluvicto
    ** Co's lead assets, if approved, could achieve
multi-billion peak sales with moderate market penetration if use
of radiopharmaceuticals continues increasing - JonesTrading
    ** Brokerage also believes while competition in the
radiotherapy space is building up, co's investment in
establishing manufacturing and supply chain capabilities gives
it an edge
   ** Until Tuesday's close, stock was up 30.54% YTD
    

 (Reporting by Pratik Jain)
 ((Pratik.Jain@thomsonreuters.com;))