Point Biopharma Jumps On Late: stage data from prostate cancer drug trial

POINT Biopharma Global

12/09/2022 18:05

** POINT Biopharma Global's shares  PNT.O  rise ~17% to $10
    ** On Saturday, co provided updated efficacy and safety data
from late-stage trial of experimental therapy PNT2002 for the
treatment of metastatic castration-resistant prostate cancer
 urn:newsml:reuters.com:*:nGNXbYzhlK
    ** The therapy involves delivering a therapeutic dose of
radiation directly to specific targets
    ** Brokerage Cowen and Co says it views updated data as
positive and believes likely favorable safety and overall
whole-body radiation would be among differentiators of PNT2002
    ** If more data, expected in mid-2023, is success full, it
could support over $1 bln in peak sales -Cowen
    ** Another brokerage Piper Sandler raises PT to $19 from
$14, while Guggenheim raises PT to $22 from $20
    ** All 7 brokerages rate the stock "buy" or higher; their
median PT is $22
    ** Including session's gain, stock up 79% YTD

 (Reporting by Leroy Leo in Bengaluru)
 ((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;))