Brokerages bet on Werewolf Therapeutics' PREDATOR cancer platform
25/05/2021 14:25
** Shares of cancer treatment developer HOWL.O up 4.7% to
$12.75 premarket
** Jefferies ("buy", PT: $22) says co's PREDATOR platform
has all the right features to develop and deliver
pro-inflammatory cytokines, such as IL-2 as a safe therapeutic,
to treat cancer
** Believes co's lead product WTX-124, a wild-type IL-2, can
have the best-in-class safety and efficacy
** Says if WTX-124 proves to be successful, there will be
high read-through to the rest of the pipeline including WTX-330
(IL-12)
** Forecasts WTX-124 can produce >$1 bln in unadjusted sales
in each of renal cell carcinoma and melanoma, and notes other
tumor types and settings could provide meaningful upside
** Based on pre-clinical data, H.C. Wainwright ("buy", PT:
$32) sees enormous value in co's ability to transform cytokines
with proven biologic activity into protein drugs with enhanced
therapeutic characteristics
** Believes PREDATOR technology should become even more
valuable once human data is available sometime during 2H22
** SVB Leerink also initiates coverage with "outperform"
rating and PT of $29
** Jefferies and SVB Leerink were among the joint
book-running managers for co's IPO
** As of last close, stock down 24.4% since its April 30
debut
(Reporting by Devik Jain in Bengaluru)
((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))