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Biopharma Continues 'Positive Push Forward in Breast Cancer'
Research Report

Source:

The latest clinical trial results and next step are reviewed in an H.C. Wainwright & Co. report.

In a Dec. 26 research note, analyst Joseph Pantginis reported that H.C. Wainwright & Co. increased its target price to AU$0.20 from AU$0.16 and maintained its Buy recommendation on Prescient Therapeutics Ltd. (PTX:ASX).

The primary reason for the target raise is an increase to 18% from 14% of H.C. Wainwright's chance of success forecast for Prescient's PTX-200 in HTR breast cancer. The financial firm made this change after the biopharma released interim data from its Phase 2a study evaluating the use of PTX-200 in HER2-negative, locally advanced breast cancer.

"While the data are from a small group of patients, they are still encouraging, in our belief," Pantginis commented. The total number of study participants was 11, nine of whom had estrogen receptor (ER)-positive disease, and the other two had triple negative disease.

Pantginis summarized the study results. The overall response rate was 91%, with two patients experiencing a complete pathologic response and one, a complete clinical response. These data suggest the study established proof of concept.

Nine of the 10 evaluable patients did not have disease progression, up to a period of 3.25 years, a result that is "encouraging thus far," noted Pantginis. Overall survival, which is still being assessed, stands at 22.4 months versus the benchmark of 24 months.

The next step for PTX-200 under consideration by Prescient management is advancing the study into ER-positive disease because patients in this cohort seem to be the most responsive, Pantginis indicated. "The goal is to combine PTX-200 with hormone therapy (standard of care for locally advanced ER-positive tumors)," he wrote.

With such a combination, it is expected the safety profile will be more favorable than that of the current combination with chemotherapy. Prescient aims to hold the study in Australia, Pantginis explained, possibly "in conjunction with an investigator-sponsored study to help defer costs."

Pantginis highlighted that near term, PTX-200 in HTR breast cancer should drive Prescient's stock value. "Overall, we believe that PTX-200 may deliver promising data in HTR disease with the potential of becoming a new therapy for these patients," he wrote.

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Disclosures from H. C. Wainwright, Prescient Therapeutics Ltd., Target Price Revision, December 26, 2019

Investment Banking Services include, but are not limited to, acting as a manager/co-manager in the underwriting or placement of securities, acting as financial advisor, and/or providing corporate finance or capital markets-related services to a company or one of its affiliates or subsidiaries within the past 12 months.

I, Joseph Pantginis, Ph.D., certify that 1) all of the views expressed in this report accurately reflect my personal views about any and all subject securities or issuers discussed; and 2) no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report; and 3) neither myself nor any members of my household is an officer, director or advisory board member of these companies.

None of the research analysts or the research analyst's household has a financial interest in the securities of Prescient Therapeutics Limited (including, without limitation, any option, right, warrant, future, long or short position).

As of November 30, 2019 neither the Firm nor its affiliates beneficially own 1% or more of any class of common equity securities Prescient Therapeutics Limited.

Neither the research analyst nor the Firm has any material conflict of interest in of which the research analyst knows or has reason to know at the time of publication of this research report.

The research analyst principally responsible for preparation of the report does not receive compensation that is based upon any specific investment banking services or transaction but is compensated based on factors including total revenue and profitability of the Firm, a substantial portion of which is derived from investment banking services.

The Firm or its affiliates did not receive compensation from Prescient Therapeutics Limited for investment banking services within twelve months before, but will seek compensation from the companies mentioned in this report for investment banking services within three months following publication of the research report.

The Firm does not make a market in Prescient Therapeutics Limited as of the date of this research report.

H.C. Wainwright & Co., LLC and its affiliates, officers, directors, and employees, excluding its analysts, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives (including options and warrants) thereof of covered companies referred to in this research report.




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